Think You Know Your Bitcoin From Dogecoin? Test Your Crypto Knowledge
Everyone’s talking about digital currencies, meme coins and DeFi. But how much do you really know about them?
After the euphoria comes the doubt. Following a stellar run that took Bitcoin to lofty highs of over $60,000, the biggest cryptocurrency has retreated, with prices now hovering around $40,000.
As ever, opinions are polarized. Storied figures like Michael Burry warn of epic crashes, while crypto bulls shrug off the gyrations as volatility that should be expected.
Despite some setbacks, crypto's march toward mainstream respectability continues. Asset management firms are still lobbying to launch Bitcoin ETFs, private banks are starting to facilitate trading for wealthy clients and some individual investors used the dip to buy into other coins like Ether.
Indeed, the search for the next gem among the thousands of alt-coins is a key focus of investors. Yet most Americans admit that they don’t really understand cryptocurrencies. And the first rule of investing still applies – if you don’t understand it, don’t invest.
See how your knowledge stacks up in Bloomberg’s cryptocurrency quiz:
Which of these cryptocurrencies is the oldest?
What is Ether’s connection to Ethereum?
After Bitcoin, Ether and Tether, which are the biggest crypto coins?
Choose 2
Why is buying Tether an integral step to acquiring Bitcoin in China?
What is a CBDC?
What is the world’s most actively traded crypto coin?
How much energy does Bitcoin consume annually?
Choose 2
What is staking?
What is a rug pull?
U.S. regulators recently banned cryptocurrencies as holdings in retirement plans like 401(k)s.
Why is Cardano often described as a green coin?
What is a Binance Coin burn?