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Questions and Answers
What is cryptocurrency?
What is cryptocurrency?
- A type of digital currency (correct)
- A type of derivative
- A type of government control
- A type of financial institution
What is cryptocurrency used for?
What is cryptocurrency used for?
- To secure transactions
- To control the creation of new units
- To purchase goods and services (correct)
- To bet on the price movements of a given cryptocurrency
What type of trading is cryptocurrency?
What type of trading is cryptocurrency?
- Decentralized
- Centralized
- Derivative (correct)
- Leverage
What type of exchanges are cryptocurrencies traded on?
What type of exchanges are cryptocurrencies traded on?
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What is the purpose of cryptocurrency options?
What is the purpose of cryptocurrency options?
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What is the difference between cryptocurrency and other forms of money?
What is the difference between cryptocurrency and other forms of money?
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What type of risk is associated with cryptocurrency trading?
What type of risk is associated with cryptocurrency trading?
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What is the purpose of using leverage when trading cryptocurrency?
What is the purpose of using leverage when trading cryptocurrency?
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What type of control does cryptocurrency have?
What type of control does cryptocurrency have?
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What is the primary purpose of cryptography when used in cryptocurrency?
What is the primary purpose of cryptography when used in cryptocurrency?
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Study Notes
- Cryptocurrency is a digital or virtual currency that uses cryptography to secure transactions and to control the creation of new units.
- Cryptocurrency is decentralized, meaning it is not subject to government or financial institution control.
- Cryptocurrencies are traded on decentralized exchanges and can also be used to purchase goods and services.
- Cryptocurrency trading is a type of derivative that allows you to bet on the price movements of a given cryptocurrency.
- Cryptocurrency trading is risky, and can be amplified by using leverage.
- Cryptocurrency options allow investors to reduce risk or increase market exposure.
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