BITDEGREE Answer Mission 1 - WEB3 EXAM: STARTER
CHAPTER 1
Note: Drag the boxes and put them in the right order. Try clicking, holding and dragging.
Which of these are features of crypto? Pick'em all!
➤Encrypted,
➤Global
What is the primary purpose of crypto mining? To...
➤Confirm & verify transactions
Rank the cryptos in order of when they were created, from the first (top) to the last (bottom).
➤Bitcoin,
➤Litecoin,
➤Ethereum,
➤IOTA
Fill in the missing word: "Whoever has the ... key owns the cryptocurrency, so don’t lose your wallets!"
➤Private
Which of the following statements are true? Pick'em all!
➤Crypto is Peer-to-Peer,
➤Crypto is decentralized
What makes cryptos different from real-world fiat money?
➤Cryptos are decentralized
How many BTC did Satoshi Nakamoto send to Hal Finney on January 12, 2009?
➤10
Which crypto doesn't have a blockchain?
➤IOTA
Fill in the missing word: "IOTA isn’t even designed to be used by humans! It’s designed for the ... of Things (IoT)"
➤Internet
Rank the BTC transferring process, from the first action (top) to the last (bottom).
➤Start the sending process,
➤Miners encrypt info,
➤A block is formed,
➤Miners guess block hash,
➤Nodes verify transaction info,
➤Receive BTC.
CHAPTER 2
Which of the following statements best reflects the nature of BTC?
➤Bitcoin is decentralized
Rank the following events related to Bitcoin in chronological order, from the earliest (top) to the latest (bottom).
➤Creation of the Bitcoin Whitepaper,
➤Launch of Bitcoin,
➤Bitcoin Pizza day,
➤$400 billion market cap
Which of the following statements is true regarding the Genesis Block?
➤It contains a hidden message
What was the hidden message in the BTC Genesis block?
➤"The Times" headline
Which person is speculated to be one of the largest holders of Bitcoin?
➤Satoshi Nakamoto
Which of the following are characteristics of Bitcoin? Pick'em all!
➤Anonymity preservation,
➤Transparency
How many Bitcoins were used to purchase two Papa John's pizzas?
➤10000
What is the primary goal of Bitcoin?
➤Decentralization of money
Which company is considered to be the largest Bitcoin whale?
➤MicroStrategy
What year was Bitcoin created in?
➤2009
CHAPTER 3
What was Bitcoin's price on 05/14/2023?
➤$26,813.25
Is there a BitDegree Social Signal tracker for Bitcoin?
➤Yes
Which of these are tracked by the Bitcoin Social Signals tracker? Pick'em all!
➤Reddit,
➤Website traffic
Fill in the missing word: "'Market cap' is short for 'market ...'"
➤Capitalization
"Market Capitalization" is used in many crypto trackers. What does it mean?
➤Value of all circulating coins
What does "FDMC" stand for?
➤Fully Diluted Market Cap
Which of the following best describes a crypto tracker?
➤Crypto price monitoring tool
Fill in the missing word: "It should be noted that the SHA-256 algorithm is used to ... Bitcoin."
➤Secure
What is the current price of Bitcoin?
➤45233.09 (answer always update)
Has the price of Bitcoin increased or decreased from what it was 24 hours ago?
➤Decrease
CHAPTER 4
Which of these is a feature that CoinStats has?
➤Crypto swaps
Arrange the following steps to sign up on CoinStats, from the first (top) to the last (bottom).
➤Visit the website,
➤Choose a sign-up method,
➤Connect via MetaMask,
➤Confirmations via MetaMask
Does CoinStats have a Chain Activity Tracker?
➤Yes
Fill in the missing word: "There are individual statistics for specific ... that you might own."
➤NFTs
Does CoinStats impose account limitations?
➤Yes
What is CoinStats known for? Pick'em all!
➤Portfolio tracking,
➤Multiple chain support
What can users do with the CoinStats basic plan?
➤Connect 10 portfolios
How many chains does CoinStats support?
➤Under 100
Fill in the missing word: "CoinStats is a highly specialized ... management tool for traders and investors."
➤Portfolio
The earning feature on CoinStats is called "CoinStats ...".
➤Earn
CHAPTER 5
Only connect Twitter and Follow
CHAPTER 6
Which of the following are considered “hot wallets”? Pick'em all!
➤Desktop wallets,
➤App wallets
Which of the following statements are correct? Pick'em all!
➤Web wallets have private keys,
➤Hardware wallets are most secure
What is the primary advantage of using a hardware wallet for crypto storage?
➤Its provide high security
What wallets are best for crypto day traders? Pick'em all!
➤Software wallets,
➤Smartphone wallets
Rank crypto wallets from the safest (top) to the least safe (bottom).
➤Hardware Wallet,
➤Mobile Phone Wallet,
➤Software Wallet,
➤Web Wallet
Which of the following statements are true about paper wallets? Pick'em all!
➤They involve QR codes,
➤They're offline-based
Rank crypto wallets based on BitDegree score, from the highest (top) to the lowest (bottom).
➤Ledger Nano X,
➤Binance Wallet,
➤Coinbase Wallet,
➤SafePal
Fill in the missing word: "Private keys are like ... that you use to gain access to your crypto funds inside of a wallet."
➤Passwords
Which of the following statements are true about paper wallets? Pick'em all!
➤They involve QR codes,
➤They're offline-based
What do crypto cards like Wirex allow you to do?
➤Spend crypto in real life
Which of the following transactions can be done with a Wirex crypto card?
➤All correct
CHAPTER 7
Rank crypto exchanges according to BitDegree, from the best (top) to the worst (bottom).
➤Binance,
➤Kraken,
➤Bitstamp,
➤Huobi
What is a common mistake made when choosing an exchange?
➤Picking an unsecure one
What is a common characteristic of the best crypto exchanges for beginners?
➤Simple to use
What factors may influence an individual's choice of the best crypto exchange? Pick'em all!
➤Trading fees,
➤User interface,
➤Crypto availability,
➤Security measures
Fill in the missing word: "The best crypto exchanges are going to have unmatched ... features as their main point of reference."
➤Security
Are payment methods the same in all crypto exchanges?
➤No
What are the main aspects that BitDegree evaluates when choosing the best crypto exchanges? Pick'em all!
➤Security,
➤Fees,
➤Customer Support,
➤Ease of Use,
➤Payment Methods
What main features should the best crypto exchanges possess? Pick'em all!
➤Decent fees,
➤Ease of use
Fill in the missing word: "Having someone to help you solve any encountered ... is always a great plus for top crypto exchanges."
➤Issues
How many crypto exchanges are there, on the market?
➤Over 500
CHAPTER 8
Fill in the missing word: "With the help of your cryptocurrency wallet, you are able to remain ... on the blockchain."
➤Anonymous
Fill in the missing word: "“...” stands for “Know Your Customer”."
➤KYC
Does your public wallet address act as your alias on the blockchain?
➤Yes
According to the article, is regulation necessary for crypto to go mainstream?
➤Yes
What is KYC, in simple terms?
➤Customer Identification
Who manages decentralized organizations?
➤DAOs
Why do many crypto enthusiasts consider anonymity important?
➤To prevent identy thift
Which blockchain is often regarded as being the most anonymous and decentralized?
➤Monero
Why is regulation crucial for the widespread crypto adoption?
➤To prevent scam
Which of the following are considered to be fundamental cornerstones of crypto? Pick'em all!
➤Anonymity,
➤Decentralization
CHAPTER 9
WHAT IS THE FIRST NAME OF A PERSON WHO CREATED THE VERY FIRST NFT?
➤Kevin
WHICH OF THE FOLLOWING STATEMENTS ARE TRUE? PICK'EM ALL!
➤NFTs can be digital artwork ,
➤NFTs represent assets
WHAT IS A "TOKEN"?
➤A digital asset
WHICH OF THE FOLLOWING STATEMENTS IS TRUE?
➤Blockchains are virtual databases
WHEN WAS THE FIRST NFT CREATED?
➤2014
WHAT WAS THE FIRST NFT CALLED?
➤Quantum
WHICH OF THE FOLLOWING ARE UNIQUE FEATURES OF NFTS? PICK'EM ALL!
➤NFTs have distinct information,
➤NFTs can be transferred
WHY ARE SOME NFTS SO EXPENSIVE?
➤Because of supply & demand
WHICH IS THE MOST POPULAR BLOCKCHAIN FOR NFTS?
➤Ethereum
FILL IN THE MISSING WORD: "ANOTHER REASON WHY NFTS ARE AS HYPED AS THEY ARE IS THE ... FACTOR."
➤Utility
CHAPTER 10
Which integrations do Unstoppable Domains have? Pick'em all!
➤Trust Wallet,
➤MyEtherWallet,
➤Brave Browser
Sort the steps of purchasing a domain on Unstoppable Domains (top - first, bottom - last).
➤Navigate to the website,
➤Sign up / log in,
➤Pick the domain,
➤Choose a domain ending,
➤Select payment method,
➤Transfer funds
Which company is an NFT domain registrar?
➤Unstoppable Domains
What is a Web3 domain?
➤A domain as your digital identity
What are the features of Unstoppable Domains? Pick 'em all!
➤No renewal fees,
➤Constant innovation,
➤Top-tier support
Which types of words can be used to create an NFT domain? Pick'em all!
➤Terms,
➤Names,
➤Slang word,
➤Numbers
Fill in the missing word: "The way that UD approaches this topic is by offering its clients unique, one-of-a-kind crypto ... addresses."
➤Domain
Fill in the missing word: "UD will not have access to your crypto ... or the domain name itself."
➤Wallet
What other payments do you have to make after you purchase an NFT from UD?
➤No additional payments
What problem does Unstoppable Domains aim to solve?
➤Wallet address complexity
Fill in the missing word: "You’re subjected to a ...-time fee, upon your initial purchase."
➤One
CHAPTER 11
➤Only share on twitter, no quiz
CHAPTER 12
Fill in the missing word: "DAO is a decentralized organization that uses blockchain-based ...
contracts to administer its operations."?
➤ Smart
What is the fundamental goal of a DAO?
➤ Community-based administration
Fill in the missing word: "This high level of ... is critical to the DAO idea."
➤ Transparency
Which of the following statements about DAOs are correct? Pick'em all!
➤ DAOs are blockchain-based,
➤ DAOs are transparent,
➤ DAOs are community-driven
Which blockchain supports DAO development by offering smart contract capabilities?
➤ Ethereum
What does DAO stand for?
➤ Decentralized Autonomous Organization
Fill in the missing word: "Originally, ... was seen as the very first project to become a DAO."
➤ Bitcoin
Which of the following best describes decentralized applications (dApps)?
➤ Smart contract-built software
In the June 2018 attack on “The DAO”, how much ETH did hackers gain access to?
➤ 3.6 million ETH
Insert the missing word: "The aim of a DAO is to build a totally transparent
company whose acts and finances are completely ... ."?
➤ Visible
CHAPTER 13
What is the purpose of "token sniffers"?
➤ They track identical tokens
In 2023 alone, how much money was lost to crypto scams?
➤ Nearly 1 billion
What are the precautions to take when downloading crypto apps? Pick'em all!
➤ Use official apps
What is another term for a "rug pull"?
➤ Liquidity pull
Which of the following are essential tips to avoid crypto scams? Pick'em all!
➤ Be critical about opportunities,
➤ Download apps from official sources
What does "FOMO" stand for?
➤ Fear of Missing Out
Fill in the missing word: "With the DeFi sector booming, doing one’s own research becomes extraordinarily ... ."
➤ Difficult
Which of these should be looked into, when analyzing a DeFi project? Pick'em all!
➤The team behind it,
➤Token distribution,
➤Project purpose
Why are crypto scams pervasive and successful? Pick'em all!
➤ Lack of regulations,
➤Pseudonymous nature of technology
Fill in the missing word: "First of all, these days, anyone can create a ... ."
➤ token
=============================DONE====================================
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