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Cryptocurrency Basics

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Questions and Answers

What is the main feature that makes cryptocurrency nearly impossible to counterfeit or double spend?

Digital tokens

Transaction speed

Decentralized structure

Security (correct)

What is the main advantage of cryptocurrency in terms of transaction speed compared to credit card systems?

Transactions can be completed in a matter of minutes (correct)

Transactions are usually less expensive

Transactions take place on the publicly distributed network

Transactions take a few days to batch out and process

What is the main factor that enables anyone to use cryptocurrency?

Accepting different forms of cryptocurrency as a payment method

Digital tokens

Price volatility

Accessibility through a computer or smartphone (correct)

What is the main disadvantage mentioned in the text regarding cryptocurrencies?

<p>Price volatility</p> Signup and view all the answers

What feature of cryptocurrency allows it to exist outside the control of governments and central authorities?

<p>Decentralized structure</p> Signup and view all the answers

Cryptocurrency Basics

Choose a study mode

Podcast

Questions and Answers

What is the main feature that makes cryptocurrency nearly impossible to counterfeit or double spend?

What is the main advantage of cryptocurrency in terms of transaction speed compared to credit card systems?

What is the main factor that enables anyone to use cryptocurrency?

What is the main disadvantage mentioned in the text regarding cryptocurrencies?

What feature of cryptocurrency allows it to exist outside the control of governments and central authorities?

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