Bitcoin: A Digital Currency

There was a time when internet and online banking bought revolution in the economy which gave a chance to the customer to use banking functions with just a click of mouse sitting anywhere. Then came the visa, debit and the credit card which further enhanced the level of banking sector so forth. And now to improve more and to remove the discrepancies and the left-out demand by all these technologies, a new concept is there to bring a change in everyone’s” life, known as BITCOIN. It is a new concept in India, but it is frequently being used in the European and some American countries for the past few months. This paper elaborates o the meaning, objectives, history, changes in price of bitcoin in the recent years. It is an attempt to review Bitcoin as a medium of exchange from the economic perspective. It also elaborates the pros & cons of using Bitcoins as a digital currency.