What is digital currency?

Digital currency

Quiz
•
Computers
•
9th - 12th Grade
•
Medium
Reeja Mohandas
Used 1+ times
FREE Resource
6 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Currency that exists only in electronic form
Physical currency like coins and banknotes
Currency that can only be used online
A type of cryptocurrency
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a characteristic of cryptocurrency?
It is regulated by central banks.
It can be physically printed as cash.
It uses cryptography for security.
It is always backed by gold or silver.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does the term "blockchain" refer to?
A physical chain that holds currency.
A centralized database managed by banks.
A decentralized ledger of transactions stored across multiple computers.
A network of computers that only track digital currency.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the primary purpose of a blockchain?
To allow for the printing of money.
To secure and verify transactions without the need for intermediaries.
To keep all financial records in a centralized location.
To convert physical currency into digital format.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following statements about digital currency is TRUE?
Digital currency is always anonymous.
Digital currency can be transferred between accounts electronically.
Digital currency has no form of government regulation.
Digital currency can only be used for online shopping.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a major benefit of using blockchain technology?
It eliminates the need for all forms of currency.
It allows transactions to be easily changed after they are recorded.
It increases the transparency and security of transactions.
It centralizes control to a single authority.
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