Cryptocurrency in Developing Countries
Authored by Juan Méndez Valverde
Other
University
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15 questions
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1.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
What percentage of GDP can remittances account for in developing countries?
Up to 10%
Up to 20%
Up to 30%
Up to 40%
2.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Which country recognized Bitcoin as legal tender in June 2021?
El Salvador
United States
China
India
3.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
What percentage of El Salvador's GDP is accounted for by remittances?
Less than 10%
Around 15%
Around 20%
More than 25%
4.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Why are cryptocurrencies becoming popular in developing countries?
Due to their stability
Due to their high transaction costs
Due to their accessibility
Due to their regulation by governments
5.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
What is one advantage of using cryptocurrency for remittances?
Lower transaction fees
Faster processing time
Both lower transaction fees and faster processing time
None of the above
6.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Why do many individuals in developing countries have limited access to traditional banking infrastructure?
Lack of physical infrastructure
High fees
Both lack of physical infrastructure and high fees
None of the above
7.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
How do cryptocurrencies solve the issue of limited access to traditional financial systems?
By requiring a physical infrastructure
By being readily available through internet access
By relying on traditional banks
By charging high fees
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