Hello Steemit!! I’m new to Cryptocurrency.

Wondering if it is still a good time to invest in this type of currency? Right now, it seems like some kind of political and tactical market pressure is trying to bring down the momentum generated in this cryptocurrency world. Top Banker like James Dimon and savvy investor like Mark Cuban seems to be a bit skeptical regarding Bitcoin. At the same time… a lot of believers is backing this futuristic concept.
Before Investing, I have few silly questions in my mind. Here we go…
1, Is it legal for US citizens to invest and trade Bitcoins or another type of Cryptocurrency by using coinbase.com or other Platform?
(a) When you exchange Cryptocurrency for Cryptocurrency. Cash is not involved. But still, your initial investment is by Cash. Are there any IRS forms one has to fill?
2, Is it legally possible to convert Bitcoin/Cryptocurrency to Cash in the US?
3, Do you think currency’s like Bitcoin and other Cryptocurrency can get approval from Central Bank?
4, If Governments & Banks wants to launch their own centralized version of cryptocurrency. How will it affect Bitcoin and other decentralized cryptocurrencies?
5, Finally, what kind of wallet do you recommend to store Cryptocurrency? Is it possible to use one Wallet for all the currency?
Kindly let me know your thoughts. Thank you!