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 Do You Need To Send And Receive Crypto?
The wallet password of the recipient so he can unlock your crypto
A wallet, crypto, and the address where to send it
Your bank details
A smartphone
Q2: What Happens If You Send Crypto To The Wrong Address?
You can call the Bitcoin hotline to sort it out
You have to pay a fine
You cannot send crypto to a wrong address it wont validate
Your coins are most likely gone
Q3: Where Can You Buy Crypto?
Crypto ATMs
Centralized exchanges
Banks
All of the above
Q4: Blockchain And Cryptocurrencies Have The Potential To Significantly Disrupt
Nothing they are just a bubble
Finance, Real Estate, Identity, Art & Media, Automotive, Medical, Supply chain and more
The whole financial system
The currencies we use to transact
Q5: Why Do You Need A Seed Phrase?
To stop other people accessing your wallet
To sell your crypto to your bank
To be able to send crypto transactions
To access your coins if you lost access to your wallet
Q6: Roughly How Long Would It Take An Expert To Work Out Your Password If It Is 8 Lowercase Letters
5 seconds
5 minutes
5 days
5 hours
Q7: Which Of These Coins Typically Has The Fastest Transactions
Dogecoin
Ethereum
Nano
Bitcoin
Q8: If Two Coins Have The Same Price Then
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
It doesnt matter which you buy
Q9: If You Lose Your Phone Which Has Your Crypto Wallet On It Then
You can restore your wallet and crypto on another device using your seed phrase
If you call the wallet developer they will be able to help you get it back
There is no way to access your crypto any more unless you can get the phone back
You can pay a specialist to get the crypto back for a fee
Q10: What Is A Bitcoin Private Key?
A government trick to access Bitcoin in your wallet
A physical metal key you get to pick up your Bitcoin
A way to make more Bitcoin
A cryptographic code needed to access your Bitcoin
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