Crypto Trading Quiz

What is the main difference between a hot wallet and a cold wallet?

• Hot wallets are for storing NFTs only

• Cold wallets are connected to the internet

• Hot wallets are online; cold wallets are offline

• Cold wallets are less secure

Which of the following is an example of a decentralized exchange (DEX)?

• Binance

• BingX

• PancakeSwap

• OKX

What does 2FA stand for and why is it important?

• Two-Factor Authentication; adds a second layer of security

• Two-Fee Adjustment; reduces gas fees

• Fast Access Feature; speeds up login

• Functional Access Authenticator; allows app syncing

In futures trading, what can happen if the market moves against your position and you use high leverage?

• You earn more rewards

• Your wallet gets upgraded

• Your position can be liquidated

• The funding rate decreases

What is the main role of a stop-loss order?

• To increase profit

• To ensure faster withdrawals

• To limit potential loss in a trade

• To avoid trading fees

In spot trading, you do not actually own the crypto you buy.

• True

• False

Trust Wallet and MetaMask are examples of cold wallets.

• True

• False

A limit order lets you choose the price at which you want to buy or sell.

• True

• False

Decentralized exchanges (DEXs) require KYC before trading.

• True

• False

You can lose your entire position in futures trading if the market moves significantly against you.

• True

• False