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DeFi: Finance Without Banks Quiz

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11 Questions

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DeFi: Finance Without Banks: a General level Cryptocurrency quiz. Test your knowledge with 11 questions!

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Questions

Question 1

What powers DeFi applications?

A Paper contracts

B Government officials

C Smart contracts

D Bank tellers

Question 2

What is a smart contract?

A A contract signed by a lawyer

B A digital ID card

C An automated program on a blockchain

D A type of cryptocurrency

Question 3

What is a DEX?

A Data Exchange

B Decentralized Exchange

C Digital Expense

D Direct Exchange

Question 4

Can anyone access DeFi?

A Only in certain countries

B Only if they are rich

C Yes, with an internet connection

D Only with a bank account

Question 5

What is 'staking' in DeFi?

A Trading coins daily

B Locking coins to earn rewards

C Selling coins for cash

D Donating coins to charity

📋 This quiz has 11 questions in total.