The crypto-currency may have taken a step toward legitimacy but global financial regulators are warning about the risks of investing in it. Japan has adopted it as a mainstream currency and the government is even open to collect taxes via bitcoins and crypto-currencies. Ltd.With the final verdict of the FinTech fraternity still awaited on this new age financial instrument, what is certain is that it has attracted a lot of celebrity attention.Sainath Gupta, CEO of the Hyderabad-based Anything AI Cyber Pvt.Partha Pratim Pal, crypto-currency analyst and co-founder cryptbuzz. However, crypto-currency like Bitcoin, Ethereum, or Ripple, which are not backed by any real security, will face a big challenge in terms of the legal framework., who works on maximising returns on Bitcoin, says, "It’s already a mainstream currency in markets like Japan, Venezuela and Zimbabwe.com, however, is of the opinion that, "In the long run, Bitcoin is one of the safest investment with lowest possible risk. Bitcoin has yielded returns excessing more than 1000 per cent in the last 18 months.Vinod Ranka"It is an investment like any other (stocks, bonds, real estate), and the motive behind any investment is to get returns. Firstly, it is a digital currency, which means buyers and users can use it for regular digital transactions. It’s legal in the US, with ETFs and the futures market, it has opened the doors to institutional investors," says Surana.

This kind of returns on investment are unheard of and world governments are understandably a bit vary of the hype. As more people start using this as a mode of payment, the price of this currency is bound to explode," says Ankit Doogar, chartered accountant and managing partner at MSA & Co. Investing in Bitcoin is currently a high risk-high reward proposition, which many fear could destabilise economies.Prashant Surana"Bitcoins are limited to 22 million coins, which makes it rare. You just enter the wallet address of the Bitcoin to send and the transaction time is between 30 to two hours, depending on certain factors."While Bitcoin investors like Gupta feel the crypto-currency is gaining increasing legitimacy, others feel it is a highly volatile, New Age ponzi scheme in its very early days. The blockchain protocol is 500 times more than the entire world computing power and is increasing exponentially unlike fiat currency, which is just a piece of paper," explains Prashant Surana, founder of Snapper Technologies, India’s most promising blockchain technology Reflectives Sheeting Suppliers company according to the CIO 2017 awards. A major issue is the secrecy that makes security a concern. Right from Amitabh Bachchan to Paris Hilton, the crypto-currency fever has spread like wildfire.The proponents of Bitcoin, are as vociferous as its detractors. Another issue is the environment, as it consumes a lot of energy. So I believe there might be a new currency, backed by real security like Dollars or Euro or gold, which will have a legal framework at the global level. In fact, its volatility is also a financial risk that most Governments cannot control and developing economies like India are not technologically mature enough to handle. Governments feel the need for a regulatory frame work to avoid future crises," says Vinod Ranka, MD, Avni Tech Ventures Pvt. Ltd."Boon or BaneWill it become a mainstream currency? Will its popularity wane? "Bitcoin is legal almost everywhere in the world, including in India.com and thepolicyti-mes."Demand–Supply GapIt is predicted that there will just be 21 million Bitcoins for a world population of more than 8 billion, 90 per cent of whom will have digital access. It’s increasing in value and it’s very simple to open a wallet using a private digital key.Naresh JainNaresh Jain, the managing director of Snapper Tech believes, "Crypto-currency is the future, which will become the mainstream.Future Money"There is huge volatility in its prices because of a lot of speculators in the market; but Bitcoins overall future prospects are good.". Secondly, it is an investment option as real as real estate, stocks or any other option. As per a latest RBI circular, Bitcoin is neither legal nor illegal and its holders are subject to potential legal and financial risks. It can be bought in most countries by authorised exchanges such as Coinbase in the US and Coinsecure or Koinex in India. Bitcoin banks and ATMs are coming up with over 2,000 BTMs in the US alone.MythsTalking about warnings from regulatory authorities, Surana says, "It’s a myth that Bitcoin is anonymous and cannot be tracked, it was because of blockchain that FBI was successful in tracking Silk Route and arresting the criminals. and high gain