Cryptocurrency Quiz

Cryptocurrency transactions can be traced.

• True

• False

What is the encrypted code that allows direct access to your cryptocurrency and like a bank account password should never be shared?

• blockchain

• private key

• crypto ID

• public key

Some blockchains have the same name for both the network and the coin, like Bitcoin but others can have a different names for the coin than the network.

• True

• False

A _______ is a secure method of storing your cryptocurrency completely offline. Many are physical devices that look similar to a USB drive. This kind of wallet can help protect your crypto from hacking and theft, though it also comes with its own risks – like losing it, along with your crypto.

• virtual wallet

• cold wallet

• hot wallet

• soft wallet

What is the first and most valuable cryptocurrency, launched on Jan. 3, 2009 the value of which has climbed steadily since then, but it has seen very wild fluctuations at times?

• bitcoin

• dogecoin

• ether

• tether

Unlike crypto coins, tokens do not have their own blockchain. They operate on blockchains of crypto coins. For example, many different tokens run on Ethereum.

• True

• False

Which of these is not a suggested tip to follow if you want to try Bitcoin investing?

• Understand your risk tolerance

• Diversify Your Portfolio

• Start Small

Peer-to-peer refers to users interacting directly without a third party or intermediary.

• True

• False

It is possible to hold Bitcoin in certain retirement accounts such as IRA, and Roth IRA.

• True

• False

Investors who want to hold onto Bitcoin for the long term are convinced it will _______ over long periods of time.

• appreciate
• depreciate

• liquify

• stay the same