quizizz tien ao

Which of these cryptocurrencies is the oldest?

• Ether

• Tether

• Dogecoin

• Cardano

Answer explanation

Dogecoin was created in 2013, with Ether and Tether appearing a few years later and Cardano in 2017. Of course, the original modern cryptocurrency is Bitcoin, which was created by a programmer - or was able to is a programming group launched in 2009.

What is the relationship between Ether and Ethereum?

• They have different names but are all the same type of electronic currency

• Ether is a cryptocurrency, and Ethereum is a blockchain platform

• Ethereum is a cryptocurrency, and Ether is a blockchain platform

• Ether is a more expensive form of currency than Ethereum

Answer explanation

Ethereum is one of the most widely adopted blockchain platforms. That's what Microsoft uses for their blockchain operations, and the technology powering the new range of digital art offerings known as NFTs. Ether is a token used to make payments on the network and can be traded individually as coins.

After Bitcoin, Ether and Tether, which cryptocurrency is the largest?

• Solana

• Binance Coin

• Dogecoin

• Cardano

Answer explanation

Although they are less known than some of the others, Binance Coin and Cardano are two of the largest, according to data from CoinGecko. In August 2021, both had a market capitalization of more than $40 billion. Binance Coin is used as cryptocurrency on the Binance network - one of the largest cryptocurrency exchanges in the world - and is used for things like paying trading fees. Cardano, with a token called Ada, is a growing blockchain platform that fans bill as a better alternative to Ethereum. But it is still underway and is still making the necessary upgrades to run decentralized finance projects that allow users to lend, trade, and borrow money from each other.

Why is buying Tether an indispensable step to buying Bitcoin in China?

• To buy cheaper Bitcoin

• Bitcoin only accepts payments in USD, which is an intermediary payment method in China

• Buying Bitcoin directly in China is illegal

• This is how payment platforms accept Bitcoin like AliPay or Wechat Pay

Answer explanation

The Chinese government's denial of Bitcoin is making it difficult to buy the cryptocurrency - even though many people still do it secretly. The first step is to use a virtual private network to go outside the Chinese-controlled web and set up a cryptocurrency trading account. To get money into their accounts, most people use yuan to buy USDT, a digital coin from Tether, usually from existing users. USDT tokens are accepted by many cryptocurrency platforms as payment for Bitcoin because they are pegged to the same amount of USD.

What is CBDC?

• A way to encode information on the blockchain

• Rewards when you lend Bitcoin

• A protocol used to convert digital currency to cash

• A type of electronic currency issued by the Central Bank

Answer explanation

Central Bank Digital Currency (CBDC) is a digital form of fiat currency (a currency established as money by regulation by a Government, monetary authority or law ). For example, imagine a situation where you could log into your own account with the US Federal Reserve without any intermediaries involved. It's an idea that's been talked about for years, but it's been given new impetus in the West thanks to China's rollout of the digital yuan. Nearly 21 million individuals in China now have virtual wallets that store currency.

Which cryptocurrency is the most actively traded in the world?

• Bitcoin

• Ether

• Tether

• Dogecoin

Answer explanation

Tether is a stable currency, meaning its value is pegged to USD. This makes it a bridge between the world of traditional finance and cryptocurrency - especially because of the many exchanges does not have the necessary banking relationships to offer deposits or withdrawals over the Internet, but can and does accept stablecoins such as Tether. Stablecoins are also a reason for the increased attention of regulators. They worry that if one of the stablecoin companies doesn't get the support they claim to have, consumers may not be protected. They are also worried that the continued expansion of the stablecoin market - now over $100 billion - has created a situation in which a large number of dollar-valued coins are exchanged without touch. into the banking system. Bank of America can turn a blind eye to the illegal financing activities of regulators.

What is Staking?

• Pledge to use your tokens to help verify transactions

• Slang for buying cryptocurrency

• Connect your cryptocurrency with other close users

• The mechanism allows transactions to be aggregated into blocks. These blocks are then linked together to create the blockchain.

Answer explanation

You can think of staking as a less resource-intensive alternative to mining. It involves holding funds in a cryptocurrency wallet to support the security and operations of the blockchain network. Simply put, staking is locking up cryptocurrencies to receive rewards. In most cases, you will be able to stake coins directly from your cryptocurrency wallet, such as Trust Wallet. On the other hand, many exchanges offer staking services to their users. Staking allows you to earn rewards in a completely simple way - all you have to do is keep your coins on the exchange.

What is Rug Pull?

• An alternative electronic currency

• The act of withdrawing all investors' capital and fleeing

• Slang for teasing someone about investing in cryptocurrency

• Upgrade the platform of cryptocurrency

Answer explanation

As cryptocurrencies become more popular, more and more people are being scammed. From 2019 to 2020, the number of victims increased 48% to an estimated 7.3 million people, a number roughly equal to the official population of China's Hong Kong. Typically, scammers will create a coin and hype around it on social media. Once they have invested enough money, they withdraw all the funds from the liquidity pool and then disappear.

US regulators recently banned cryptocurrencies as retirement assets.

• True

• False

Answer explanation

Having cryptocurrency in retirement isn't mainstream, but it's possible. ForUsAll, an American financial planning company, recently announced that it has partnered with Coinbase to allow employees to put up to 5% of their 401(k) (a 401(k) plan is a Retirement savings plans offered by many US employers offer tax advantages to savers) putting their money into Bitcoin or other cryptocurrencies. However, this is a plan that sponsors are worried about, and the extreme volatility of cryptocurrencies is a major obstacle. However, Americans with independent accounts can do it themselves.

Why is Cardano often described as a green coin?

• This coin mining mechanism uses renewable energy

• The transaction verification method is less energy intensive than Bitcoin

• It is less popular and smaller than Bitcoin so it uses less energy

• Its icon on currency trading platforms is blue

Answer explanation

Bitcoin operates on what is called proof of work. It requires miners to compete to solve complex mathematical problems, and the winner is rewarded in Bitcoin. Winning requires a high level of computing power, which will flow into energy usage. In contrast, Cardano uses a so-called proof-of-stake mechanism to verify transactions on its blockchain, with the task of verification assigned to validators who have provided their coins to the system for use. use. Therefore, it discourages the use of huge computing resources.