Understanding Cryptocurrency

Who is credited with creating the first cryptocurrency?

• Satoshi Nakamoto

• Elon Musk

• Vitalik Buterin

• Charlie Lee

What is a key feature of most cryptocurrencies?

• They are only used in the USA

• They are controlled by banks

• They are decentralized

• They are backed by gold

Why do some cryptocurrencies limit the total amount that can be created?

• To increase inflation

• To allow governments to control them

• To prevent value manipulation by a central authority

• To make them more like fiat money

What technology is used to record cryptocurrency transactions?

• Blockchain

• Artificial Intelligence

• Cloud computing

• Quantum computing

What are the two types of keys used in cryptocurrency?

• Public and private keys

• Open and closed keys

• Master and slave keys

• Primary and secondary keys

What happens if you lose your cryptocurrency keys?

• They are likely lost forever

• They are stored in a central database

• You can recover them through customer support

• You can reset them online

How do cryptocurrencies derive their value?

• From government backing

• From the amount of gold they represent

• From what people are willing to pay for them

• From the number of users

What should you consider before investing in cryptocurrencies?

• Relying on government guarantees

• Ignoring market trends

• Understanding the risks and being cautious

• Investing all your savings

What is a recommended way to store your cryptocurrency securely?

• In a cold storage offline wallet

• In a hosted online wallet

• In a social media account

• In a bank account

What is a potential risk of storing cryptocurrency in an online wallet?

• It is not connected to the internet

• It can be easily accessed by anyone

• It is immune to hacking

• It can be lost if the service provider is compromised