1. What is cryptocurrency?
Cryptocurrency is a digital currency using cryptography, operating on decentralized networks, enabling secure, transparent, peer-to-peer transactions.
2. Is cryptocurrency legal in India?
Cryptocurrency trading is legal, but it’s unregulated; the Indian government imposes taxes and monitors transactions strictly.
3. Why is Bitcoin so valuable?
Bitcoin’s scarcity, decentralization, institutional adoption, and status as ‘digital gold’ contribute to its high market value.
4. How do I store cryptocurrency safely?
Use hardware wallets, strong passwords, and two-factor authentication to protect funds from hacks, phishing, or exchange breaches.
5. Can cryptocurrencies replace traditional money?
Cryptocurrencies may supplement traditional money, but widespread replacement depends on regulation, scalability, and universal merchant acceptance globally.