What is a key difference between cryptocurrency and traditional money?

Understanding Bitcoin and Cryptocurrency

Interactive Video
•
Mathematics, Computers, Business
•
9th - 12th Grade
•
Hard

Mia Campbell
FREE Resource
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10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Cryptocurrency exists only online.
Cryptocurrency is physical money.
Cryptocurrency is backed by gold.
Cryptocurrency is issued by banks.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Who is credited with inventing Bitcoin?
Elon Musk
Satoshi Nakamoto
Warren Buffet
Bill Gates
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How does a decentralized system differ from a centralized one?
It is slower than centralized systems.
It operates without a central hub.
It requires government approval.
It has a single point of control.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the blockchain?
A centralized banking system
A time-stamped virtual ledger
A type of cryptocurrency
A physical chain of blocks
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What role do miners play in the Bitcoin network?
They regulate Bitcoin prices.
They destroy old Bitcoins.
They verify transactions.
They create new Bitcoins.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How do miners verify Bitcoin transactions?
By using physical currency
By contacting the sender
By solving a math puzzle
By checking government records
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What do miners receive as a reward for their work?
Gold
Government bonds
Bitcoin
Cash
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