International Research journal of Management Science and Technology

  ISSN 2250 - 1959 (online) ISSN 2348 - 9367 (Print) New DOI : 10.32804/IRJMST

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VIRTUAL CURRENCY “BITCOIN” – AN OVERVIEW

    1 Author(s):  MANISHA

Vol -  6, Issue- 3 ,         Page(s) : 6 - 13  (2015 ) DOI : https://doi.org/10.32804/IRJMST

Abstract

The way of making payments for goods and services has transformed over the years- from barter to gold backed currencies to fiat money, now it has taken another turn – to virtual currency. The virtual currency is a form of digital money used in online world. This paper gives the overview of ‘bitcoin’, a decentralized and bidirectional flow type of virtual currency and also discusses the various risks associated with the use of this currency including its use in money laundering.

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