Analyse various crypto currencies, their uses and concerns over their regulation and issues associated.

Cryptocurrency is a digital currency. Encryption techniques are used to regulate its use and generate its release.�It is not regulated or controlled by any bank, government or centralized financial authorities. It relies on the power of internet to guarantee its value and confirm transactions.
Uses:

• Purchase of products and services
• Money Transfers and cryptocurrency tipping
• Get paid in cryptocurrency
• Investment opportunities

Concerns:

• Cryptocurrency mining and transactions can only happen on network, illiterate people will find it difficult to understand the working mechanism
• Cryptocurrency exchange rates can vary greatly, which means the amount you pay or receive one day could be wildly different next day
• These are prone to losses arising out of hacking, loss of password etc
• There is lack of any authorized central agency to regulate the payments
• These can easily be used for illegal activities anonymously
• There is no underlying asset for Cryptocurrencies, making the value a matter of speculation

�Some important cryptocurrencies are Bitcoins, Litecoin, Namecoin, Swiftcoin, Bytecoin, Gridcoin. Recently Facebook�has announced a digital currency called�Libra�that will roll out for use in 2020. In India the creation, trading or usage of cryptocurrencies including Bitcoins, as a medium for payment are not authorised by any central bank or monetary authority.