With the rapid advancement of information technologies, cryptocurrencies have become an increasingly popular topic in the financial sector. In the financial market, cryptocurrency has brought about legendary developments that have positive as well as negative consequences. Objectives of the study are to study the historical background of cryptocurrency in India and major risk and issues associated with cryptocurrency.  Result of the study shows that journey of cryptocurrency in India has faced many ups and downs. This study also explains various issues and risk in the cryptocurrency market.

Keywords: Cryptocurrency, Blockchain, Bitcoin, Peer-to-Peer, Cryptography.