Answers:
#1 F
#2 F
#3 F
#4 A public ledger that is cryptographically linked. It records peer to peer transactions that can not be modified and is typically maintained by a decentralized network of nodes.
#5 Code that can be written to have actions automatically executed when a condition is met.
#6 Since there is no inherent value in crypto, it's valuation comes from whatever the participants in the network determine it to be. (that's just the basics of it. The market is vast and has numerous factors but the value is what we make of it).
#7 fear, uncertainty, and doubt
#8 Decentralized exchange
#9 Fear of missing out
#10 Initial coin offering
Topic: Quick self evaluation quiz to test your basic crypto knowledge (Read 73 times)
Here are some basic questions about crypto and investing, do you have a basic knowledge of crypto?
True or False:
#1 There is no big difference between a token and a coin.
#2 Everything besides Bitcoin and Ethereum are considered altcoins.
#3 Cryptocurrencies are stored inside wallets.
Short answer (answer in your own words):
#4 Explain what blockchain technology is:
#5 What is a smart contract?
#6 Where does the value of crypto come from?
What do these terms mean/stand for?
#7 FUD
#8 DEX
#9 FOMO
#10 ICO
If you struggled to answer any of these questions, then stop everything immediately and do basic research. It is never a good idea to buy and sell something you don't know the basics about.
True or False:
#1 There is no big difference between a token and a coin.
#2 Everything besides Bitcoin and Ethereum are considered altcoins.
#3 Cryptocurrencies are stored inside wallets.
Short answer (answer in your own words):
#4 Explain what blockchain technology is:
#5 What is a smart contract?
#6 Where does the value of crypto come from?
What do these terms mean/stand for?
#7 FUD
#8 DEX
#9 FOMO
#10 ICO
If you struggled to answer any of these questions, then stop everything immediately and do basic research. It is never a good idea to buy and sell something you don't know the basics about.
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