Cryptocurrency Quiz

What is the main purpose of Bitcoin?

• To control the flow of money by governments

• To create a decentralized global network

• To replace physical currency with digital currency

• To facilitate illegal activities

How are Bitcoins stored?

• In physical vaults

• In transparent digital deposit boxes

• In government-controlled ledgers

• In banks and financial institutions

What is the advantage of using Bitcoin for international transactions?

• Lower fees and faster processing

• Higher security and privacy

• No need for currency exchange

• Ability to bypass government regulations

What is the maximum number of Bitcoins that can ever be created?

• Unlimited

• 100 million

• 21 million

• 1 billion

Why is the blockchain considered immutable?

• Because it is synchronized globally

• Because it can be easily altered

• Because it is controlled by a central authority

• Because it is stored in physical locations

What is the main criticism of Bitcoin as a payment system?

• Lack of security

• Limited acceptance by merchants

• Inability to handle large volumes

• High transaction fees

Why do cryptocurrencies have value?

• Because they are easily copied and replicated

• Because they are scarce and decentralized

• Because they are controlled by governments

• Because they are backed by physical assets

Which country has the most permissive legal status for cryptocurrencies?

• United States

• China

• Venezuela

• Germany

What is the main advantage of cryptocurrencies for people in unstable economies?

• Ability to evade government regulations

• Protection against inflation

• Financial freedom and control

• Access to international markets

What is the significance of the mining reward in Bitcoin?

• It determines the price of Bitcoin

• It incentivizes miners to process transactions

• It controls the supply of new Bitcoins

• It ensures the security of the blockchain