Quiz: Lesson 007

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Question 1 of 8

1. Question
A cryptocurrency exchange is ____.
- a place for swapping fiat currencies. For example, Australian dollars for U.S. dollars.
- an online marketplace that enables buyers and sellers to trade cryptocurrencies in exchange for other cryptocurrencies or fiat currencies.
- someone who facilitates cryptocurrency trading between buyers and sellers, but instead of buyers and sellers setting the prices, they set the prices.
- a platform for trading nothing but stablecoins.
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Question 2 of 8

2. Question
True or false? You don’t need to verify an exchange’s legitimacy because they are all trustworthy and reputable.
- True
- False
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Question 3 of 8

3. Question
What’s the difference between a centralised (CEX) and decentralised exchange (DEX)?
- Both CEX and DEX are controlled by a single entity, the only difference is a DEX offers more cryptocurrencies.
- A DEX is more user-friendly than a CEX.
- A CEX is operated by a business which acts as a middleman to match and fill trades between buyers and sellers, whereas a DEX is not hosted by a central entity.
- A DEX is operated by a business that acts as a middleman, whereas a CEX is not hosted by a central organisation
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Question 4 of 8

4. Question
What does a cryptocurrency broker do?
- Manage an order book from which customers execute buy and sell orders.
- Facilitate cryptocurrency trading between buyers and sellers, but instead of buyers and sellers setting the prices, they set them.
- Solely provide investment advice to make you the most money possible.
- Facilitate cryptocurrency trading between buyers and sellers, with the buyer setting the price.
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Question 5 of 8

5. Question
True or false? All exchanges support the same cryptocurrencies.
- True
- False
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Question 6 of 8

6. Question
When looking to buy cryptocurrency, which 3 things should you focus on? (Select all that apply.)
- Your personal plan and circumstances
- Figuring out whose portfolio to copy
- Spending time in the market and education
- Your personal circumstances
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Question 7 of 8

7. Question
True or false? You can use websites such as CoinGecko and CoinMarketCap to find out where to buy cryptocurrencies.
- True
- False
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Question 8 of 8

8. Question
True or false? When buying cryptocurrency, there is often no unanimous time when you should buy. Rather, it’s important to consider your personal plan and spend time in the market.
- True
- False
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Beginner’s Course

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1. Question

A cryptocurrency exchange is ____.

2. Question

3. Question

What’s the difference between a centralised (CEX) and decentralised exchange (DEX)?

4. Question

What does a cryptocurrency broker do?

5. Question

True or false? All exchanges support the same cryptocurrencies.

6. Question

When looking to buy cryptocurrency, which 3 things should you focus on? (Select all that apply.)

7. Question

True or false? You can use websites such as CoinGecko and CoinMarketCap to find out where to buy cryptocurrencies.

8. Question

True or false? When buying cryptocurrency, there is often no unanimous time when you should buy. Rather, it’s important to consider your personal plan and spend time in the market.