Paper Contents
Abstract
Cryptocurrency is a medium of exchange which is digitally encrypted, decentralised and is basedon the blockchain technology. Even though cryptocurrencies are unlikely to substitute traditionalfiat currencies, they have the potential to completely transform the way in which global financialmarkets interact with each other. Cryptocurrencies have the power to create a free flowing tradesystem with minimum fees. A major feature of cryptocurrency is its organic nature, providing thecurrency immunity against the manipulation and interference by the Government. There aredifferent factors which affect the investing decisions of different players in the cryptocurrencymarket.Investors will be encouraged to invest in cryptocurrency if it can be classified as a storeof value, making it an attractive investment instrument among the various asset classes.Cryptocurrencies have their own pros and cons. This paper analyzes, in depth, the variouschallenges and risks that stand in the long term expansion of the market. In addition to this,thepaper elaborates on the advantages and opportunities available in the future. Since, thecryptocurrency market is evolving with a rapid speed and has shown tremendous growth, adetailed analysis has been made regarding the potential of cryptocurrencies. Cryptocurrency hasthe possibility of becoming a future currency.
Copyright
Copyright © 2024 Chhavi Gupta. This is an open access article distributed under the Creative Commons Attribution License.
