School / Test Your Crypto Knowledge

Test Your Crypto Knowledge

Test Your Crypto Knowledge

Level 1: Beginner

The basics of owning crypto, keeping it safe, using it and why cryptocurrencies and blockchain technology are important.
Q1: What Happens If You Send Crypto To The Wrong Address?
Topic: Sending And Receiving Cryptocurrency
Your coins are most likely gone
You cannot send crypto to a wrong address it wont validate
You can call the Bitcoin hotline to sort it out
You have to pay a fine
Q2: What Do You Need To Send And Receive Crypto?
Topic: Sending And Receiving Cryptocurrency
Your bank details
A wallet, crypto, and the address where to send it
A smartphone
The wallet password of the recipient so he can unlock your crypto
Q3: Why Do You Need A Seed Phrase?
Topic: Storing Crypto
To sell your crypto to your bank
To stop other people accessing your wallet
To be able to send crypto transactions
To access your coins if you lost access to your wallet
Q4: If Two Coins Have The Same Price Then
Topic: Valuing Cryptocurrencies
They have the same value
The market valuation will depend on the supply of each coin
It doesnt matter which you buy
You need to look at their charts to see which is more valuable
Q5: If You Lose Your Phone Which Has Your Crypto Wallet On It Then
Topic: Crypto Risks
If you call the wallet developer they will be able to help you get it back
You can pay a specialist to get the crypto back for a fee
There is no way to access your crypto any more unless you can get the phone back
You can restore your wallet and crypto on another device using your seed phrase
Q6: Blockchain And Cryptocurrencies Have The Potential To Significantly Disrupt
Topic: The Blockchain Revolution
The currencies we use to transact
The whole financial system
Finance, Real Estate, Identity, Art & Media, Automotive, Medical, Supply chain and more
Nothing they are just a bubble
Q7: Roughly How Long Would It Take An Expert To Work Out Your Password If It Is 8 Lowercase Letters
Topic: Passwords And Backup
5 hours
5 seconds
5 minutes
5 days
Q8: Which Of These Coins Typically Has The Fastest Transactions
Topic: Transaction Speed
Ethereum
Nano
Dogecoin
Bitcoin
Q9: Where Can You Buy Crypto?
Topic: Buying Crypto
Crypto ATMs
Centralized exchanges
Banks
All of the above
Q10: What Is A Bitcoin Private Key?
Topic: Storing Crypto
A way to make more Bitcoin
A physical metal key you get to pick up your Bitcoin
A cryptographic code needed to access your Bitcoin
A government trick to access Bitcoin in your wallet
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Important: The above opinions are not investment advice and aim to educate and set guidelines for exposure to highly volatile assets. Exposure to crypto assets can lead to a significant or total loss of the sum invested. We do not guarantee the accuracy of content on this site or sites that we link to.