Which of the following statement is true about Bitcoin wallets?

A wallet is a private key to store your bitcoin credentials

Which of the following statement is NOT true about transacting in Bitcoin?

You cannot trade bitcoins back to dollars

The currency is legal tender for ALL debts public and private

Most merchants refuse to use centralized intermediaries

It is expensive for merchants to use credit card transactions, but they have no way of avoiding it due to popular demand

You want your currency to have inherent value

Any transaction for which a credit card is used could potentially be a Bitcoin transaction

Batman can use the Batcard without actually having the money to back up his purchases

Batcoin’s power is derived from people believing that the Batcoin has currency power

Solve

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Introduction to Cryptocurrency – Practice MCQ Test