What is cryptocurrency?

Refers to a digital currency, secured with cryptography to enable trusted transactions. Blockchain is the underlying technology, functioning as a ‘ledger’ or record of transactions made.

How is crypto stored?

Let’s look at a national currency like the rupee. It can be deposited in your name at a bank, or privately stuffed into a mattress at home far away from anyone’s eyes.

What is the purpose of cryptocurrency?

As indicated by ‘currency’, they were originally intended to be used in the same way as rupees and dollars are, as a medium of payment between people for products and services purchased.

Is cryptocurrency used for illegal activities?

Initially with no government control, crypto became a useful tool to escape political censors and repressive regimes, which was an admirable goal.