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WorksheetsHow Bitcoin Works - Time-Stamped Multiple Choice Test
Total questions: 20
Worksheet time: 10mins
What is Bitcoin primarily known as?
A. A central bank currency
B. A type of virtual currency
C. A form of precious metal
D. A paper-based currency
What is a key benefit of Bitcoin transactions?
High transaction fees
Always requires a bank
Maintains high anonymity
Uses checks
Who created Bitcoin?
Elon Musk
Jeff Bezos
Satoshi Nakamoto
Vitalik Buterin
What do you need to store bitcoins?
Piggy bank
Bank account
Bitcoin wallet
Gold vault
What is Bitcoin mining?
Mining gold with machines
Harvesting data for ads
Generating new bitcoins via computing power
A term for selling Bitcoin
How is Bitcoin different from traditional currency?
It's issued by the government
It's paper-based
It's decentralized
It's printed by banks
What network does Bitcoin use?
Centralized bank network
P2P network
What happens when your wallet is lost and not backed up?
Call Bitcoin hotline
Bitcoins are refunded
Bitcoins are lost forever
Send a dispute form
What is the blockchain?
A. A type of cryptocurrency
B. A public ledger of transactions
C. A security system
D. A coin printer
How many total bitcoins will ever exist?
10 million
50 million
Unlimited
21 million
When is the estimated year Bitcoin mining will stop?
2050
2140
2030
2220
What is one downside of using an online wallet?
Takes up too much space
Easy to forget password
Dependent on third-party security
Requires fax access
What’s one benefit of Bitcoin internationally?
Free internet access
No wire transfer fees
Requires no password
No taxes ever
What does Bitcoin's value often resemble?
Stable bonds
Gold reserves
Financial bubbles
Credit score
What was Silk Road?
A. A Bitcoin exchange
B. A government agency
C. A black market site
D. A cloud wallet
Why do criminals use cryptocurrencies?
For charity
For fast donations
For potential anonymity
To get airline miles
Why might Bitcoin be risky?
It's too cheap
Energy use is too low
High price volatility
It's always government-backed
What kind of technology is Ethereum praised for?
Blockchain
Antivirus
VPN
What are 'smart contracts'?
Intelligent legal agreements
AI-generated blogs
Programmable transactions on blockchain
Cheap phone plans
What environmental concern does Bitcoin pose?
Water pollution
Mining emissions
Energy usage
Radio waves
