Investment in Cryptocurrencies

Technology has created a significant difference in the lives of the people due to paradigm shift from offline activities to online activities. Cryptocurrency is a digital coin money based on the concept of cryptography encryption and electronic connectivity to function. Cryptocurrency is one of the best inventions in the context of financial sector. Being a decentralised currency, it also opposes the intervention of central banks and digital currencies by them. It transforms the virtual trade market by introducing a free rein trading mechanism that operates without the involvement and regulation of a third party. Digital currencies in today’s scenario become need of the hour thus this paper compares the most prevalent cryptocurrencies of India on the basis of market capitalization rate. The paper also aims to study the key characteristics of the digital currencies.