Crypto currencies have been the hot new thing in the investment world for quite some time now. However, for most of us, they represent a complicated financial entity we're not sure we even understand. Let's put your knowledge of this new type of high-tech currency to the test, and perhaps you'll also learn what you didn't know before!
What makes Cryptocurrency different from other digital funds, such as PayPal?
It is not reliant on any central authority
It is not a wallet but a currency like the dollar is a currency
All answers are correct
It eliminates the need for any and all intermediaries
What was the first decentralized cryptocurrency?
Bitcoin
Litecoin
Ethereum
Dogecoin
When was Bitcoin released?
2009
2011
2007
2013
What doesn't a cryptocurrency 'blockchain' HAVE to have?
A time stamp
Transaction data
A code of the last block in the chain
Banking data
What was the worth of 1 Bitcoin when it was originally estimated in sale?
$0.0009
$90
$9
$0.09
How much was Bitcoin worth at its peak?
$64,400
$16,600
$126,200
$26,800
As of December 2022, how much was 1 Bitcoin worth?
Around $17,000
Around $7,000
Around $37,000
Around $47,000
Which cryptocurrency takes SECOND place as the most expensive to buy 1 coin of?
As of December 2022, it is worth about $1100-$1200 per 1 coin, while Bitcoin is worth about $16-17000
Ethereum
Dogecoin
Tether
USD Coin (USDC)
Binance Coin
Which cryptocurrency was launched in 2022?
Dash 2 Trade
Ripple
Dogecoin
Lido Staked Ether (SETH)
As of end of 2022, when was peak worth for crypto currencies?
End of 2021
End of 2018
End of 2016
End of 2014
The man who invented Bitcoin, as well as the first blockchain database, is...
Japanese
Chinese
American
Russian
What does "mining" for cryptocurrency NOT involve?
Using a high powered computer to solve math problems
Finding a new encryption for new coins
Winning against other computers by solving a math problem first
Trading coins between owners and increasing their value
Why are some countries officially considering outlawing mining for cryptocurrencies, while China has already done so?
The computers do too much environmental damage
Because of illegal activities the currency is used for
Because they are afraid it will destabilize the economy
Because it lowers the value of the coins in the hands of buyers
Try again...
It seems you don't know much about crypto. After all, it's a very complicated subject and can be very technical. We can't really blame you for not knowing about these, but it's always good to be in the know, so have a look at our answers or take another crack at it!
You know quite a bit about crypto currencies, definitely more than the average person. After all, it's a very complicated subject and can be very technical. You did quite well, and those you didn't get right you can see the answers for in our answers section.
You really know a lot about crypto currencies! You must have a lot of knowledge of financial affairs and investing, maybe even invested yourself in some crypto currency along the way. In any case, you've aced this quiz!
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12/5/2022
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