Cryptocurrency

What is Cryptocurrency?

• Cryptocurrency is a type of stock traded on the stock market.

• Cryptocurrency is a government-issued currency that is regulated by banks.

• Cryptocurrency is a physical coin used for transactions.

• A digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds

What is Mining (in terms of cryptocurrency?)

• The competitive process of validating a cryptocurrency transaction and adding it to the blockchain in hopes of receiving an amount of cryptocurrency as a reward

• Mining is the act of storing cryptocurrencies in a digital wallet.

• Mining involves trading cryptocurrencies on exchanges.

• Mining is the process of creating new cryptocurrencies from scratch.

What is Bitcoin?

• The largest cryptocurrency in terms of market cap (total market value of its circulating supply)

• Bitcoin is a government-issued currency that can be used to pay taxes and fines.

• Bitcoin is a physical currency like cash that you can withdraw from an ATM.

• Bitcoin is a type of stock that can be purchased on the New York Stock Exchange.

What is the Blockchain?

• A type of cryptocurrency used for online purchases.

• A centralized database managed by a single entity that records all bank account transactions in the US.

• A method for creating physical currency notes used by the US Mint to print currency..

• A digital ledger in which transactions made in bitcoin or another cryptocurrency are recorded chronologically and publicly

What is a Cryptocurrency Wallet?

• A device, physical medium, program or a service which stores the public and/or private keys for cryptocurrency transactions

• A cryptocurrency wallet is a software used for trading stocks and creating CDs in the online world.

• A cryptocurrency wallet is a type of bank account for fiat currency.

• A cryptocurrency wallet is a physical device for storing cash that you can keep in your pocket.

What is Digital Exchange?

• A method for securing digital transactions across the Blockchain.

• A type of cryptocurrency wallet that stores all of your cryptocurrencies in one place.

• A software for creating digital art that is used on the faces of cryptocurrency.

• A business that allows customers to trade cryptocurrencies or digital currencies for other assets, such as conventional fiat money or other digital currencies

What is Ethereum?

• The second largest cryptocurrency in terms of market cap (total market value of its circulating supply). Also famous for smart contract technology

• Ethereum is a social media platform used to trade stocks.

• Ethereum is a centralized banking system supported by the federal government.

• Ethereum is a type of banking that allows customers to transfer money between clients.

What is Proof of Work?

• Proof of Work is a type of cryptocurrency wallet that stores and compares the values of different currencies.

• Proof of work is a verification process that involves miners competing to be the first to solve a complex math puzzle and receive an amount of cryptocurrency as a reward

• Proof of Work is a method for creating digital art used on the face of cryptocurrencies.

• Proof of Work is a social media platform for blockchain enthusiasts.

What is cryptocurrency primarily described as?

• Physical money

• Digital or virtual money

• A government bond

• A type of stock

Which of the following is NOT a well-known cryptocurrency?

• Ethereum

• Bitcoin

• Ripple

• Dollarcoin