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Questions and Answers
What is a crypto savings account primarily compared to?
What is a crypto savings account primarily compared to?
- A regular checking account at a bank
- A retirement account
- A trading account
- A traditional savings account but with cryptocurrency (correct)
Where can you establish a crypto savings account?
Where can you establish a crypto savings account?
- At a physical bank branch
- On a platform like CEX.IO (correct)
- Only through a personal wallet
- Through a mobile payment app
How do interest rates for crypto savings accounts typically compare to those of regular banks?
How do interest rates for crypto savings accounts typically compare to those of regular banks?
- They are exactly the same as those offered by traditional banks
- They are fixed and do not fluctuate
- They are always lower than regular banks
- They can potentially be higher, but they vary (correct)
Which of the following is NOT a feature of a crypto savings account?
Which of the following is NOT a feature of a crypto savings account?
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What might be a significant advantage of a crypto savings account compared to a traditional savings account?
What might be a significant advantage of a crypto savings account compared to a traditional savings account?
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Study Notes
Crypto Savings Accounts
- A crypto savings account is similar to a traditional savings account but with cryptocurrency.
- Crypto savings accounts are available through platforms like CEX.IO.
- Interest rates in crypto savings accounts can be higher than regular bank accounts, but they vary.
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