The bitcoin, as a possible salvation for India's economy.

As a program against corruption and to prevent the production of "black money" the government of India has suddenly decided to withdraw the $ 500 bills and $ 1000 rupees. When it was announced that money had been disabled, hundreds and thousands of people had waited for hours in the bank's long lines to exchange those old tickets for a new $ 2,000 rupees bills.

The government gave a deadline of only 50 days to carry out this transformation; however, to eight days of running it, the cities of India lived in complete chaos. In addition to ATMs had run out of cash to dispense and most citizens were in a panic with demonetization, according to information from Al Jazeera, nowadays banknotes to be disallowed symbolize 85% of total cash in circulation. Worse yet, 20% of gross domestic product or GDP in India is generated by the so-called "black economy."

Meanwhile, for India, a light appeared at the end of the tunnel and is the use of the cryptocurrency called bitcoin. In recent years, India and Bitcoins have had an objective relationship because the decentralized currency has grown in popularity within the country. 

The Bitcoins exchange in India continues to increase in India when cash reserves are depleted. Although they cannot be touched, nor taken out of any bank nor is there a government of any country that controls them, more and more people buy bitcoins in India and have been estimated so much that last March of 2016 they surpassed for the first time the value of the gold, which has always been the active safeguard par excellence. 

The sale of bitcoins in India exceeded $ 1,280, compared to $1,230 in the gold, and the gap between them has only increased over that month. Over the past few months, the bitcoin has moved around $ 1,290, according to Coindesk data, while gold has dropped from $ 1,230, according to figures from Bloomberg. This motivates the population to look for bitcoins exchanges and which of these are the ones that offer the best exchange rate in India.