Are cryptocurrencies legal in india ?
What is cryptocurrency? Cryptocurrency is a digital payment system that doesn't rely on banks to verify transactions. It's a peer-to-peer system that can enable anyone anywhere to send and receive payments. Instead of being physical money that is carried around and exchanged in the real world, cryptocurrency payments exist purely as digital entries to an online database that describe specific transactions. When we transfer cryptocurrency funds, the transactions are recorded in a public ledger. We store our cryptocurrency in a digital wallet. How crypto works? Cryptocurrencies are not backed by a central authority such as a government. Instead, they run across a chain of computers. It is exchanged from peer-to-peer on the web without a middleman. Cryptocurrencies are decentralized which means no government or bank manages how they’re made, what their value is, or how they will be exchanged. All the crypto transactions are secured by cryptography which means that it only allow