Digital Currency

5 Questions | By Luolinggggg | Last updated: May 16, 2019 | Total Attempts: 166

Questions and Answers

1.

What are the benefits of using digital currency rather than physical currency?
- A.
  
  It is cheaper and faster
- B.
  
  It is faster and boundless
- C.
  
  It is cheaper and boundless
- D.
  
  It is safer and faster
2.

Digital currency was first created in ____, Dot com bubble was one of the first E-gold founded in ____ and backed by gold.
- A.
  
  1900s, 2006
- B.
  
  1897, 1900s
- C.
  
  1900s, 1996
- D.
  
  1897, 1997
3.

Liberty reserve was founded in 2005 and it allows users to convert physical currencies to Liberty Reserve Dollars or Euros, and exchange to and fro at a 1% fee. True or False?
- A.
  
  True
- B.
  
  False
4.

Why were both Liberty Reserve Dollars and Dot com bubble shut down by the US government? You can choose more than one option.
- A.
  
  They were not controlled by the US authorities
- B.
  
  They were both centralised and controlled by central authorities
- C.
  
  They were allegedly making more money through illegitimate sources
- D.
  
  They were stealing people's money
5.

In recent years, there has been interest in cryptocurrencies which led to the start of _____ that eventually became a widely used form of digital currency. Fill in the blank