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ARTICLE · 27 MARCH 2020

Explaining Bitcoin And Legal Position In India

Vaish Associates Advocates
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Bitcoin is a cryptocurrency; it is a digital asset designed to work as a medium of exchange that uses cryptography to control its creation and management, rather than to rely on a central authority.

IndiaTechnology
Vijay Pal Dalmia
Vijay Pal Dalmia
Siddharth Dalmia
Siddharth Dalmia
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By: Vijay Pal Dalmia, Advocate
Supreme Court of India & Delhi High Court
Email id: [email protected]
Mobile No.: +91 9810081079
Linkedin: https://www.linkedin.com/in/vpdalmia/
Facebook: https://www.facebook.com/vpdalmia
Twitter: @vpdalmia
And Siddharth Dalmia
Email id: [email protected]
Mobile: +91 9971799250

Bitcoin is a cryptocurrency; it is a digital asset designed to work as a medium of exchange that uses cryptography to control its creation and management, rather than to rely on a central authority. The transfer of this currency is like sending the e-mail or text message to a person. To send a bitcoin, a wallet app is used (app: 'Bitcoin Wallet'), the amount to be sent is typed in the wallet app and type the details for the recipient( account number in this case), and you have sent the bitcoin which can later be converted to fiat currency.

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The content of this article is intended to provide a general guide to the subject matter. Specialist professional advice should be sought about your specific circumstances. The views expressed in this article are solely of the authors of this article.

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