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Understanding Bitcoin Wallets

Authored by Michael Piccolo

Business

11th Grade

Used 2+ times

Understanding Bitcoin Wallets
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15 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which wallet type allows recovery using a seed phrase?

HD wallet

Paper wallet

Desktop wallet

Brain wallet

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What feature does an HD wallet use to simplify backup?

PIN code

Biometric security

Seed phrase

Encryption

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which wallet type can be restored with a mnemonic phrase?

Brain wallet

Desktop wallet

HD wallet

Web wallet

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does SPV stand for in Bitcoin wallets?

Simple Public Validation

Single Payment Validation

Secure Private Verification

Simple Payment Verification

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which type of wallet requires internet connectivity?

Paper wallet

Hot wallet

Hardware wallet

Cold storage wallet

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which wallet type is advised against for storing large amounts of Bitcoins?

Hardware wallet

Web wallet

Paper wallet

HD wallet

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which type of wallet is typically connected to a web service?

Cold wallet

Hot wallet

Hardware wallet

Paper wallet

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