Lesson 6.1: Wanna trade? Digital money for physical money (Jun)

What is a cryptocurrency?

• A physical type of currency like paper money.
• A type of game currency.
• A digital or virtual form of money.
• A coupon system used in supermarkets.
• A credit system used by banks.

What is a scam?

• A new type of digital game.
• A marketing strategy.
• A legal way to invest money.
• A type of computer virus.
• A dishonest scheme to take money.

Who are typically involved in regulating financial schemes?

• Teachers.
• Police officers.
• Government authorities.
• Social media influencers.
• Athletes.

What does it mean to invest money?

• To save it in a piggy bank.
• To spend it on candies.
• To use it for education.
• To put it into something expecting profits.
• To donate it to charity.

What can happen if an investment scheme fails?

• Investors might earn double.
• Investors might lose their money.
• The investment becomes a charity.
• Investors receive awards.
• Investors will get a refund automatically.

What is a pyramid scheme?

• A construction plan for historical monuments.
• A type of puzzle.
• A game about ancient Egypt.
• A business model that pays members for recruiting new members.
• A new cryptocurrency.

What does 'unregulated' mean in terms of financial products?

• They are controlled strictly by laws.
• They are not controlled by laws.
• They come with user manuals.
• They are regulated by social media.
• They are sold at regulated prices.

What is a liquidator?

• A machine that turns solids into liquids.
• A drink mixer.
• Someone who helps close down a business and sell its assets.
• A type of detergent.
• A person who works at a water plant.

What is a common outcome for those who fall for a phishing scam?

• They get a free software update.
• They may receive additional phishing emails.
• Their computer becomes faster.
• They win a prize.
• They lose personal information or money.

Why is crypto knowledge important for regulators?

• To play online games better.
• To invest in cryptocurrencies themselves.
• To understand and regulate the crypto market effectively.
• To teach in schools.
• To be able to fix computers.