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: Why Do You Need A Seed Phrase?
Topic: Storing Crypto
To be able to send crypto transactions
To access your coins if you lost access to your wallet
To stop other people accessing your wallet
To sell your crypto to your bank
Q2: What Do You Need To Send And Receive Crypto?
Topic: Sending And Receiving Cryptocurrency
Your bank details
The wallet password of the recipient so he can unlock your crypto
A smartphone
A wallet, crypto, and the address where to send it
Q3: Which Of These Coins Typically Has The Fastest Transactions
Topic: Transaction Speed
Ethereum
Bitcoin
Dogecoin
Nano
Q4: 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 have to pay a fine
You can call the Bitcoin hotline to sort it out
Q5: Where Can You Buy Crypto?
Topic: Buying Crypto
Crypto ATMs
Centralized exchanges
Banks
All of the above
Q6: If Two Coins Have The Same Price Then
Topic: Valuing Cryptocurrencies
It doesnt matter which you buy
They have the same value
You need to look at their charts to see which is more valuable
The market valuation will depend on the supply of each coin
Q7: Blockchain And Cryptocurrencies Have The Potential To Significantly Disrupt
Topic: The Blockchain Revolution
Nothing they are just a bubble
The whole financial system
Finance, Real Estate, Identity, Art & Media, Automotive, Medical, Supply chain and more
The currencies we use to transact
Q8: 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 days
5 minutes
5 seconds
Q9: 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
You can restore your wallet and crypto on another device using your seed phrase
There is no way to access your crypto any more unless you can get the phone back
Q10: What Is A Bitcoin Private Key?
Topic: Storing Crypto
A government trick to access Bitcoin in your wallet
A way to make more Bitcoin
A cryptographic code needed to access your Bitcoin
A physical metal key you get to pick up your Bitcoin
Easy Way to Buy
Easy Way to Buy

Uphold makes buying crypto with popular currencies like USD, EUR and GBP very simple with its convenient options to swap between crypto, fiat, equities, and precious metals.

Open an Account

Uphold Disclaimer: Assets available on Uphold are different per region. All investments and trading are risky and may result in the loss of capital. Cryptoassets are largely unregulated and are therefore not subject to protection

Kraken Review
Kraken Review

Kraken has a good reputation for security and protection of your funds and operates across the USA (except NY), Canada, the EU and Japan

Kraken Guide
Uphold Review
Uphold Review

Based in Charleston, South Carolina. Serves over 184 countries and has done over $4 billion in transactions. Offers convenient options to swap between crypto, fiat, equities, and precious metals.

Uphold Guide
How to buy Bitcoin without identification
How to buy Bitcoin without identification

Eight ways to buy Bitcoin without needing ID or giving personal information

Learn More
Best Crypto Trading Strategies
Best Crypto Trading Strategies

In Part 1 of the guide we look at the stochastic oscillator, relative strength index and moving averages

Learn More
Litecoin Review
Litecoin Review

An early alternative to Bitcoin, LTC aimed to be a coin for easy, fast, low-fee spending. LTC offers a faster block time and a higher transaction capacity in comparison to Bitcoin.

Buy Litecoin
Ripple Review
Ripple Review

This is a specific digital coin running on a series of servers. XRP promises utility in handling cross-border transactions to compete with the SWIFT interbank payment system. Being controlled by banks, many question if it is a true cryptocurrency.

Buy Ripple

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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.