Trivia Quiz On Virtual Currency In Economics

Questions : 10 | Total Attempts: 559 | Recent Updated: 07-Mar-2020
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Virtual currency is a type of irregular digital currency that is available only in electronic form. It is transacted only through specified software, mobile or computer applications or dedicated digital wallets, and transactions take place over the Internet through secure, dedicated networks. Virtual currency is considered a subset of the digital currency group, including cryptocurrency, which exists within the blockchain network. With the use of the general public, the use of virtual currency may be restricted, and may only be in circulation among members of a specific online community or a virtual group of users who conduct online transactions on a dedicated network. let's know more about Virtual Currency.

Questions Excerpt


1. Which of the following is the type of virtual currency?

A. Convertible currency

B. Closed currency

C. Peer-to-peer currency

D. All of the above

2. Bitcoin and other crypto-currencies are handled by...

A. Blockchain

B. Cryptography

C. Computers

D. All of the above

3. Network-connected devices are mainly chains of computers, called.

A. Nodes

B. Public Ledger

C. Pseudonym

D. None of these

4. Which are some of the benefits of using a Vartual currency?

A. Fraud protection

B. Simpler international payments

C. The volatility of prices

D. All of the above

5. Which of the following is the advantage of using Bitcoin?

A. Low cost

B. Lack of an intermediary charging transaction fees

C. Anonymity

D. All of the above

6. Which of the following are the benefits of Cryptocurrency?

A. Elimination of Banking Fees

B. Very Low Transaction Fees for International Payments

C. Mobile Payments

D. All of the above

7. Which is the real name of the bitcoin promoter also known as “Bitcoin Jesus”?

A. Roger Ver

B. Gavin Andresen

C. Satoshi Nakamoto

D. None of these

8. Which of the following federal agency has issued an official opinion or guidance about bitcoin?

A. FinCEN

B. IRS

C. Security and Exchange Commission

D. All of the above

9. When was bitcoin finally released for production?

A. January 2009

B. November 2008

C. May 2010

D. None of these

10. Which one is NOT a next-generation digital currency?

A. HashCash

B. Ethereum

C. Maidcoi

D. All of the above

 

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