Crypto Millionaire Quiz Answers

Hi there! Are you ready to become a Crypto millionaire? As you know the crypto ecosystem has been very interesting over the past decade. It has taught us many things and it has proven itself. Let’s see what it brings in the near future. In the meantime, is time to have some fun with this awesome quiz. Let’s see how much you know about Crypto with this 20 question quiz. Ready to start?

1. What is cryptocurrency?

• A technology that uses AI and ML algorithms to process transactions in a fast and efficient manner
• A safe way of encrypting online files
• A digital asset that functions as a medium of exchange
• A digital asset that is backed by physical assets.

Right Answer: A digital asset that functions as a medium of exchange

2. When was the first Cryptocurrency made available?

• 2007
• 1998
• 2011
• 2009

Right Answer: 2009

3. Which was the first cryptocurrency created?

• Bitcoin
• Ecash
• Ripple
• Ethereum

Right Answer: Bitcoin

4. In which technology is cryptocurrency based?

• Blockchain
• DSCT
• Genomics
• Artificial Intelligence and Machine Learning

Right Answer: Blockchain

5. What is a crypto Wallet?

• A software that safely stores credit cards online
• A device that scans and transforms physical money into digital currency
• A digital service for encrypting passwords
• A software that enables you to send and receive cryptocurrencies

Right Answer: A software that enables you to send and receive cryptocurrencies

6. What does the concept “mining” mean in cryptocurrencies?

• Looking for cryptocurrency hidden in the Deep Web
• Stealing someone else’s cryptocurrency
• The process of adding new cryptocurrency to its ecosystem by solving a computational puzzle.
• Sending cryptocurrency from one wallet to another

Right Answer: The process of adding new cryptocurrency to its ecosystem by solving a computational puzzle.

7. Who is Satoshi Nakamoto?

• The inventor of Bitcoin and Blockchain
• The first investor of Ethereum
• An Asian investor
• The inventor of Ethereum

Right Answer: The inventor of Bitcoin and Blockchain

8. Who received the first Bitcoin transaction?

• Marti Malmy
• Hal Finney
• Laszlo Hanyecz
• Nakamoto Sotoshi

Right Answer: Hal Finney

9. What is the smallest Bitcoin value?

• Satoshi
• Toshiba
• Nakamoto
• Mukashi

Right Answer: Satoshi

10. How many millions of Bitcoin units will be eventually available?

• 51 Million
• 21 Million
• 23 Million
• 22 Million

Right Answer: 21 Million

11. Can the blockchain technology be used for something else than Cryptocurrencies?

• Obviously No
• Yes, Absolutely
• Not sure
• No

Right Answer: Yes, Absolutely

12 In which countries is Bitcoin Illegal?

• Colombia, Etiopia, Albania.
• Cambodia, Ecuador, Nepal, Algeria, Bolivia, and Bangladesh.
• None
• Curacao, Etiopia, Nigeria, Albania, Guatemala, and Afghanistan.

Right Answer: Cambodia, Ecuador, Nepal, Algeria, Bolivia, and Bangladesh.

13. Which government is in control of Bitcoin?

• China
• USA
• Russia
• None

Right Answer: None

14. Are cryptocurrency holders subject to taxes?

• Yes
• It depends on the country
• No
• Never

Right Answer: It depends on the country

15. Who are some famous people who have invested in Bitcoin?

• Tom Brady, Ellen Degeneres, Jamie Dimon
• Cristiano Ronaldo, Bill Harris, Shakira
• Myke Tyson, Ashton Kutcher, Gwyneth Paltrow, Floyd Mayweather Jr.
• Elon Musk, Tom Cruise, Warren Buffett

Right Answer: Myke Tyson, Ashton Kutcher, Gwyneth Paltrow, Floyd Mayweather Jr.

16. Which was the infamous site in the Deep Web where people could buy drugs and weapons with Bitcoin?

• Stealth Road
• Silk Road
• D Road
• The Pirate Bay

Right Answer: Silk Road

17. What is the last name of the identical twins that sued Facebook who became Bitcoin billionaires?

• Winchester
• Wimthos
• Winclethos
• Winklevoss

Right Answer: Winklevoss

18. In 2010 a man paid for two pizzas with 10,000 Bitcoins. Today those pizzas would be worth?

• Around US$ 10,000,000
• Around US$ 200,000,000
• Around US$ 50,000,000
• Around US$ 100,000,000

Right Answer: Around US$ 100,000,000

19. Who was the first person to become a millionaire with Bitcoin?

• Rich Smith
• Douglas Diamond
• Stanislav Liaskovska
• Roger Ver

Right Answer: Roger Ver

20. If a person would have invested US$10 in Bitcoin at the end of 2010 and sell those Bitcoin today, how much money would he/she have made?

• Around US$ 30,000
• Around US$ 3,000
• Around US$ 350,000
• Around US$ 3,000,000

Right Answer: Around US$ 350,000