Aspect of Cryptocurrency

Open Access

Year : 2022 | Volume : | Issue : 2 | Page : 18-23
By

    Gaargi Tomar

  1. Student (Law), University of Petroleum and Energy Studies (UPES), Uttarakhand, India

Abstract

The term cryptocurrency is itself gotten from the encryption methods which is utilized to secure the network of organization.It can be called as a system which allows for the secure payments online and which are dominated by the term of virtual “tokens”. An investor can purchase cryptocurrency through crypto exchange like coinbase, cashapp etc. The question arises that how cryptocurrency can make money, well since it permits for the secure payments online which are termed in terms of virtual tokens. Financial backer can bring in cash with cryptographic money either by mining bitcoin or basically selling their Bitcoin at a benefit. The paper additionally examine about the benefit and detriment of cryptographic forms of money as Fund move between two gatherings will get simple without the need of an outsider like credit/check cards or banks. Also it is cheaper alternative as compared to other online transactions but also at the same time taxation issue is one of the major cryptocurrencies issue, they can readily be used by hiding the property for tax evasion purpose It has no proper laws, no international recognized agencies, all country does not accept it and also it does not reveal identification and therefore it discourages people to invest black money. It may have a impact on real money.

Keywords: Cryptocurrency, bitcoin, ethereum, litecoin, advantage, disadvantage, Article 19(1)(g)

[This article belongs to National Journal of Cyber Security Law(njcsl)]

How to cite this article: Gaargi Tomar Aspect of Cryptocurrency njcsl 2022; 4:18-23
How to cite this URL: Gaargi Tomar Aspect of Cryptocurrency njcsl 2022 {cited 2022 Jan 29};4:18-23. Available from: https://journals.stmjournals.com/njcsl/article=2022/view=91482

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Regular Issue Open Access Article
Volume 4
Issue 2
Received January 10, 2022
Accepted January 15, 2022
Published January 29, 2022