## What is Cryptocurrency?
Cryptocurrency is a digital or virtual currency secured by cryptography, operating on decentralized blockchain networks. Unlike traditional money, it isn’t controlled by governments or banks, making it a popular choice for peer-to-peer transactions and investments.
## Cryptocurrency Kaise Kharide? 5 Simple Steps to Follow
### Step 1: Choose a Crypto Exchange
Select a platform like WazirX, CoinDCX, or ZebPay. Key factors to consider:
– **Security**: SSL encryption, two-factor authentication (2FA).
– **Fees**: Compare trading and withdrawal charges.
– **Supported Coins**: Ensure it lists Bitcoin, Ethereum, etc.
– **User Reviews**: Check Trustpilot or Reddit for feedback.
### Step 2: Create & Verify Your Account
1. Sign up with your email/phone number.
2. Complete KYC by uploading ID proof (Aadhaar, PAN) and a selfie.
3. Wait for verification (usually 24–48 hours).
### Step 3: Deposit Funds
Indian exchanges support:
– **UPI** (Instant, zero fees)
– **Bank Transfer** (NEFT/IMPS)
– **Debit/Credit Cards** (higher fees)
### Step 4: Buy Cryptocurrency
1. Search for your preferred coin (e.g., Bitcoin).
2. Enter the amount in INR or crypto quantity.
3. Review fees and confirm the purchase.
### Step 5: Secure Your Crypto
Move coins to a private wallet like Trust Wallet (hot wallet) or Ledger (cold wallet) to minimize exchange-related risks.
## Top Tips for First-Time Buyers
– **Start Small**: Invest only what you can afford to lose.
– **Diversify**: Spread investments across Bitcoin, Ethereum, and altcoins.
– **Track Prices**: Use CoinMarketCap or CoinGecko for real-time data.
– **Avoid FOMO**: Don’t chase hype; stick to your strategy.
## Risks of Buying Cryptocurrency & How to Stay Safe
1. **Volatility**: Prices can swing 10–20% daily. Mitigate by holding long-term.
2. **Scams**: Avoid fake exchanges or “get-rich-quick” schemes.
3. **Regulatory Changes**: India’s crypto tax (30% on profits) impacts returns.
4. **Hacking Risks**: Use hardware wallets and enable 2FA.
## Frequently Asked Questions (FAQs)
### 1. Cryptocurrency ko kharidne ke liye kitna paisa chahiye?
You can start with as little as ₹100 on most Indian exchanges.
### 2. Kya cryptocurrency kharidna India mein legal hai?
Yes, but profits are taxed at 30%, and exchanges must comply with AML laws.
### 3. Purchase hone mein kitna time lagta hai?
Transactions are instant once your account is funded and verified.
### 4. Agar exchange hack ho jaye, toh kya hoga?
Use a private wallet to store crypto—exchanges are frequent targets.
### 5. Tax kaise calculate karen?
Track buys/sells via Catax or CoinTracker. Report profits under “Income from Other Sources.”
