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Abstract
The Bitcoin is a creative and innovative payment network and a new type of currency which can be used by individuals and organizations to carry out their financial transactions virtually i.e. online. It gives people many advantages like freedom to do financial transactions anonymously, increased level of privacy, very low transaction fees with secure mode of working; cryptocurrencies like Bitcoin have emerged as an attractive currency option for many investors and other stakeholders. This paper has reviewed the various news, articles of various authors and find out that it should be legalized in India as it has many advantages and we can remove disadvantages by legalizing it more.