A Comparative Study of Bitcoins in India and United States of America

Vol 19 , Issue 2 , July - December 2018 | Pages: 67-74 | Research Paper

https://doi.org/10.51768/dbr.v19i2.192201806

Published Online: November 28, 2018

Author Details ( * ) denotes Corresponding author

1. * Rupal Singh, Assistant Professor, Department of Accountancy, Nagindas Khandwala College, Mumbai, India (carupalpandya@gmail.com)

Purpose: Bitcoins is the most popular virtual currency and is largest in terms of total market value. The usage of Bitcoins is legally allowed in USA for years and its gaining momentum in India. Hence, this study aims to compare the status of usage of Bitcoins in India as compared to USA.

Design/Methodology/Approach: For the purpose of comparison, volume and number of daily transactions of Bitcoins in India and USA are selected. Secondary data for financial years 2013-14 to 2016-17 from reliable sources are collected and t-test is applied for testing the hypothesis.

Findings: The study concludes that, growth rate of volume of Bitcoins in India is more than that in USA. One of the outcomes of the study is that, there is significant difference between the mean number of trades per minute of Bitcoins in India and USA.

Research Limitations: This study is limited to only two countries India and USA whereas, Bitcoins are used in many countries all over the world.

Practical Implications: This study will generate understanding about Bitcoins amongst academicians. It will also help investors of Bitcoins to get the comparative picture of Bitcoins in India with regard to USA.

Originality/Value: Available research on Bitcoins is less and especially in context to India. This study would be pioneer in comparison of Bitcoins in India and USA. It would pave a path to other researchers to conduct further research on Bitcoins.

Keywords

Bitcoins, India, USA

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