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Quiz: Intro to Bitcoin

Bitcoin was the first ever cryptocurrency in existence and is the largest cryptocurrency by market capitalization. It has paved the way for a whole industry of blockchain projects. Test your Bitcoin knowledge with this end of course quiz.

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To complete this quiz you will need to get a score of 70% or higher. You can take this quiz as many times as you'd like to try and improve your score.

Question 1

You can’t buy a fraction of a Bitcoin.

True False

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Question 2

Bitcoin was created by an anonymous developer or group of developer's named...

Elon Musk Hal Finney Walt Disney Satoshi Nakamoto

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Question 3

Bitcoin has a maximum supply of 25 million coins.

True False

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Question 4

Why is Bitcoin considered to have value?

Its supply is limited to 21 million coins making it a scarce asset It has good utility, meaning it can easily be transported from one location to another It’s decentralized All of the above

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Question 5

Bitcoin relies on blockchain technology to operate.

True False

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Question 6

How is the price of Bitcoin determined?

Based on its supply and market demand across a number of exchanges It’s matched to the price of a gold Bitcoin developers control the price Based on the number of active Bitcoin wallets

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Question 7

Bitcoin Is stored in bank accounts.

True False

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Question 8

What is the purpose of Bitcoin mining?

To confirm and record transactions on the Bitcoin blockchain To prevent ‘double spending’ To mint new Bitcoins (create new coins and release them into circulation) All of the above

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Question 9

A Bitcoin halving is...

When the price of Bitcoin reaches half of its all-time high An event when the Bitcoin blockchain is split into two identical blockchains An event that occurs every four years that halves the rewards provided to Bitcoin miners When the Bitcoin market cap becomes half (50%) of the entire crypto market cap

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Question 10

Historically, what has happened to the Bitcoin price following a halving?

A significant dive in price A significant surge in price Price stays relatively stable Price Exceeds $100,000 USD

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