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Cryptocurrency Basics
text: What is a stablecoin?, correct: A cryptocurrency that matches fiat currencies, incorrect: A cryptocurrency that never changes in value,A cryptocurrency that has been proposed but not yet released,A cryptocurrency that never adds new users, fun fact: USD Coin is an example of stablecoin. By matching a fiat currency like the US dollar, stablecoins decrease volatility while still allowing easy money transfers.,text: How many people possess cryptocurrencies?, correct: Millions, incorrect: Hundreds,Thousands,Billions, fun fact: Cryptocurrencies are becoming a more common part of people's investment portfolios. They represent a form of diversification.,text: What is the benefit of a cryptocurrency like USD Coin?, correct: It matches the value of the US dollar, incorrect: It is given out for free,It is the oldest cryptocurrency,It has no processing fees, fun fact: Not everyone is comfortable using cryptocurrencies that can fluctuate in value in a volatile way. USD Coin allows the traceability of crypto with the value of the dollar.,text: What is one reason that cryptocurrency transactions can charge such low fees?, correct: Payments can't be reversed, incorrect: The currency is worth less,No work went into obtaining the cryptocurrency,Cryptocurrency users don't care about making money, fun fact: Because cryptocurrency payments are irreversible, they don't face the same risk of being defrauded as credit card merchants, so processing fees don't have to be marked up as much.,text: Which of the following is NOT a method of storing cryptocurrency?, correct: A physical wallet, incorrect: On a computer,On a mobile phone,Information printed on paper, fun fact: Since the wallets used for cryptocurrency are digital, you need to maintain access by storing the wallet on a web-enabled device or keeping your private access information on hand.,text: Where is cryptocurrency not able to be used?, correct: It can be used globally, incorrect: Asia,South America,Australia, fun fact: One of the benefits of cryptocurrency is that it can be used worldwide by anyone with an Internet connection.,text: After Bitcoin, what is the second-biggest type of cryptocurrency?, correct: Ethereum, incorrect: Dogecoin,Litecoin,Tether, fun fact: Ethereum first appeared in 2015, following a year of development and crowdfunding.,text: What is one significant difference between cryptocurrency and regular currency?, correct: It isn't regulated by a third party, incorrect: It can't be spent on tangible items,It has no actual value,It is impossible for most people to use, fun fact: Unlike US dollars, euros, or other tangible currencies, cryptocurrency is decentralized and regulated by its users.,text: What is the tool name that cryptocurrency users require to access their funds?, correct: Wallet, incorrect: Bank,Checkbook,Bill, fun fact: A cryptocurrency wallet is a software that grants access to whatever network your cryptocurrency is encrypted on.,text: What was the first cryptocurrency to appear?, correct: Bitcoin, incorrect: Ethereum,Litecoin,Dogecoin, fun fact: Bitcoin first appeared in 2009 and introduced the concept of currency that uses encryption technology.
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Cryptocurrency Basics
What is a stablecoin?
A cryptocurrency that matches fiat currencies
A cryptocurrency that never changes in value
A cryptocurrency that has been proposed but not yet released
A cryptocurrency that never adds new users
