Bitcoin and cryptocurrency have been among the hottest keywords for investors over the last decade. This disruptive technology is expected to change every aspect of the digital world these days. Whether you are planning to invest or want to learn more, check out these 33 trivia Bitcoin quiz questions and answers.
Bitcoin Quiz Questions And Answers
1. What is actually Bitcoin?
A. A stock
B. A natural resource
C. A digital currency
2. When was Bitcoin first introduced?
A. 2001
B. 2008
C. 2015
3. What is the maximum number of Bitcoins that can exist?
A. 21,000
B. 2,100,000
C. 21,000,000
4. Bitcoin is a decentralised digital currency. What does it mean?
A. It is not controlled by a government or organisation
B. It is completely free to use
C. It is distributed equally to everyone
5. Who is considered to be the creator of Bitcoin?
A. Vitalik Buterin
B. Satoshi Nakamoto
C. Elon Musk
6. What is the name of the underlying technology of Bitcoin and many cryptocurrencies?
A. Blockchain
B. Metaverse
C. Virtualistic
7. Which factor or who determines the market price of Bitcoin?
A. The creator of Bitcoin
B. The supply and demand of Bitcoin
C. The world’s economy and politics
8. What is currently the smallest unit of the Bitcoin currency?
A. Bitty
B. Satoshi
C. Naka
9. What was the price of 1 Bitcoin when it was first traded on an online exchange in March 2010?
A. 0.003 USD
B. 3 USD
C. 30 USD
10. Which was the first artist to accept Bitcoin for purchasing his records?
A. DJ Khaled
B. Eminem
C. 50 Cent
11. In 2021, which country became the first one in the world to legalise Bitcoin?
A. Estonia
B. El Salvador
C. South Africa
12. Bitcoin is based on which type of network to operate without the need for central authority?
A. Miner-to-Owner
B. Peer-to-Peer
C. Creator-to-Buyer
13. Which of the following is NOT a feature of a Bitcoin transaction?
A. Reversible
B. Private
C. Permissionless
14. What is the name of the process to create new Bitcoins?
A. Forging
B. Shaping
C. Mining
15. Which cryptography algorithm is used for hasting new blocks and running the network to create Bitcoins?
A. THX1138
B. PLA196
C. SHA256
16. What is the estimated year when the last Bitcoin is mined?
A. 2040
B. 2140
C. 2400
17. Which of the following electronic devices do you need to mine Bitcoin?
A. A graphics processing unit
B. A random-access memory
C. A central processing unit
18. Where can you purchase Bitcoin?
A. Cryptocurrency exchanges
B. Big banks
B. Bitcoin miners
19. What is the difference between a cold wallet and a hot wallet for storing Bitcoin?
A. A hot wallet is connected with the Internet, while a cold wallet is not
B. A cold wallet is more prone to attack than a hot wallet
C. A hot wallet is hardware, while a cold wallet is a software
20. What is a Bitcoin halving?
A. An event that reduces Bitcoin price
B. An event that reduces rewards for mining Bitcoin
C. A event that divides Bitcoin into the two different coins
21. On May 22, 2010, an American programmer named Laszlo Hanyecz made the first commercial Bitcoin transaction by paying 10,000 BTC for what?
A. A laptop
B. A house
C. A pizza
22. Which cryptocurrency term refers to entities or individuals that hold large amounts of Bitcoin?
A. A bull
B. A whale
C. A phoenix
23. Which of the following is a feature present in Bitcoin?
A. Delegated Proof-of-Stake
B. Automated Security
C. Smart Contracts
24. Which was the first notable Bitcoin fork in 2014?
A. Bitcoin XT
B. Bitcoin Cash
C. Bitcoin SV
25. What was the title of the original white paper in which Satoshi Nakamoto introduced Bitcoin?
A. Bitcoin: A Peer-to-Peer Electronic Cash System
B. Bitcoin: A Disruptive Digital Currency
C. Bitcoin: A Decentralised Cash Network
26. On average, how often is a new block of Bitcoin mined?
A. 10 minutes
B. 24 hours
C. 1 month
27. Which was the first publicly-traded company to purchase Bitcoin in 2020?
A. Tesla
B. MicroStrategy
C. Paypal
28. Which famous Bitcoin exchange went bankrupt in 2014 after a huge loss of 850,000 Bitcoins?
A. Binancce
B. Coinbase
C. Mt. Gox
29. What is the generally accepted abbreviation for Bitcoin?
A. BIT
B. BTC
C. BIC
30. What is the all-time high price of 1 Bitcoin as of November 2021?
A. 14,500
B. 68,500
C. 123,500
31. Which of the following social issues is usually associated with the use of Bitcoin?
A. Environmental problems
B. Economic inequality
C. Corruption
32. Which country is currently the biggest Bitcoin miner in the world?
A. The United States
B. China
C. India
33. What do you need to access a Bitcoin wallet address?
A. A password
B. An encoded line of code
C. A private key
What do you think about these Bitcoin quiz questions and answers? We hope you learn a lot of useful knowledge and interesting facts about this new digital asset. For more challenges on this topic, check out the following money quiz.
