
Understanding Bitcoin

Interactive Video
•
Business
•
9th - 10th Grade
•
Hard
Jennifer Brown
FREE Resource
5 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a key difference between Bitcoin and traditional currencies?
Bitcoin is created by solving mathematical problems.
Bitcoin is backed by gold reserves.
Bitcoin is issued by central banks.
Bitcoin can be printed on demand.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How does Bitcoin help in reducing transaction costs?
By increasing the transaction time.
By offering government subsidies.
By eliminating the need for financial institutions.
By using a different currency exchange rate.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the maximum number of Bitcoins that can ever exist?
42 million
10 million
21 million
100 million
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why is Bitcoin considered speculative and risky?
Because its future value is unpredictable.
Because it is widely accepted by all businesses.
Because its value is easy to calculate.
Because it is backed by physical assets.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What percentage of small to medium businesses in the US accepted Bitcoin in 2020?
50%
20%
36%
75%
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