Test Your Coinbase and AMP Token Knowledge!

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Test Your Coinbase And Amp Token Knowledge! - Quiz

Discover your understanding of Coinbase, a prominent cryptocurrency exchange, and the AMP token with this informative Coinbase AMP Token Knowledge Quiz. With questions ranging from Coinbase's founding year to its regulatory compliance, services, and revenue streams, this quiz delves into the fundamentals.

Explore the significance of USD Coin (USDC) within Coinbase and the role of Coinbase Custody in secure storage. Test your knowledge of the AMP token's collateralization mechanism and its association with decentralized finance (DeFi).

From listing choices to security technologies, this quiz challenges your expertise in the world of cryptocurrencies and exchange platforms. Answer wisely and uncover your proficiency in Read moreCoinbase and AMP token awareness!


Questions and Answers
  • 1. 

    What year was Coinbase founded?

    • A.

      June 2009

    • B.

      May 2012

    • C.

      July 2014

    • D.

      August 2017

    Correct Answer
    B. May 2012
  • 2. 

    Which regulatory compliance is crucial for Coinbase to operate legally?

    • A.

      Anti-Money Laundering (AML)

    • B.

      Environmental Protection

    • C.

      Health and Safety Regulations

    • D.

      International Trade Agreements

    Correct Answer
    A. Anti-Money Laundering (AML)
    Explanation
    Coinbase, like other financial institutions, must adhere to Anti-Money Laundering (AML) regulations to prevent the use of its platform for illicit activities.

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  • 3. 

    Coinbase offers services in how many countries approximately?

    • A.

      30

    • B.

      60

    • C.

      100

    • D.

      150

    Correct Answer
    C. 100
    Explanation
    Coinbase provides its services in approximately 100 countries, showcasing its global reach and accessibility.

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  • 4. 

    What's the role of the "USD Coin (USDC)" on Coinbase?

    • A.

      A governance token for Coinbase platform

    • B.

      A stablecoin pegged to the US Dollar

    • C.

      A privacy-focused cryptocurrency

    • D.

      A token used for tokenizing real estate

    Correct Answer
    B. A stablecoin pegged to the US Dollar
    Explanation
    USD Coin (USDC) serves as a stablecoin on Coinbase, maintaining a 1:1 peg with the US Dollar, providing stability in value.

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  • 5. 

    What is the significance of Coinbase Custody?

    • A.

      It's a feature for buying cryptocurrencies with credit cards.

    • B.

      It allows users to lend and borrow cryptocurrencies.

    • C.

      It's a service for high-volume trading.

    • D.

      It provides secure storage for institutional investors' cryptocurrencies.

    Correct Answer
    D. It provides secure storage for institutional investors' cryptocurrencies.
    Explanation
    Coinbase Custody offers a secure storage solution for institutional investors, ensuring the safekeeping of their digital assets.

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  • 6. 

    What's the primary purpose of the AMP token's collateralization mechanism?

    • A.

      Ensuring transaction speed on the Ethereum network

    • B.

      Providing rewards for token holders through staking

    • C.

      Backing up the value of AMP tokens with collateral

    • D.

      Enabling cross-chain compatibility

    Correct Answer
    C. Backing up the value of AMP tokens with collateral
    Explanation
    The main purpose of the AMP token's collateralization mechanism is to back up the value of AMP tokens by utilizing collateral to mitigate risks.

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  • 7. 

    Which cryptocurrency exchange did Coinbase acquire to enhance its DeFi offerings?

    • A.

      Binance

    • B.

      Uniswap

    • C.

      Paradex

    • D.

      Kraken

    Correct Answer
    C. Paradex
    Explanation
    Coinbase acquired Paradex to bolster its offerings in the decentralized finance (DeFi) space.

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  • 8. 

    How does Coinbase make a significant portion of its revenue?

    • A.

      Through transaction fees from trading activities

    • B.

      By offering consulting services to blockchain startups

    • C.

      By selling user data to third-party companies

    • D.

      By mining cryptocurrencies and selling them

    Correct Answer
    A. Through transaction fees from trading activities
    Explanation
    Coinbase generates a substantial part of its revenue through transaction fees charged to users engaging in trading activities on its platform.

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  • 9. 

    Which major stock exchange did Coinbase choose for its direct listing?

    • A.

      Nasdaq

    • B.

      NYSE

    • C.

      LSE

    • D.

      TSE

    Correct Answer
    A. Nasdaq
    Explanation
    Coinbase opted for a direct listing on the Nasdaq stock exchange, becoming one of the notable cryptocurrency-related companies to do so.

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  • 10. 

    What's the main technology behind the security of Coinbase transactions?

    • A.

      Proof of Work (PoW)

    • B.

      Delegated Proof of Stake (DPoS)

    • C.

      Hierarchical Deterministic (HD) Wallets

    • D.

      Ring Signature Technology

    Correct Answer
    C. Hierarchical Deterministic (HD) Wallets
    Explanation
    Coinbase employs Hierarchical Deterministic (HD) Wallets technology to enhance the security of transactions and manage users' cryptocurrency holdings effectively.

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Quiz Review Timeline +

Our quizzes are rigorously reviewed, monitored and continuously updated by our expert board to maintain accuracy, relevance, and timeliness.

  • Current Version
  • Nov 16, 2023
    Quiz Edited by
    ProProfs Editorial Team
  • Aug 11, 2023
    Quiz Created by
    Smriti Singh

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