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Test Your Knowledge
Earn 100 Diamonds for every perfect score!
Question 1:
What is a key advantage of stablecoins?
A. They are suitable for everyday transactions due to their stable price.
B. They are designed to experience extreme price swings.
C. They are more volatile than other cryptocurrencies like Bitcoin and Ether.
Question 2:
How do fiat-backed stablecoins work?
A. They are collateralized by other cryptocurrencies rather than fiat.
B. They use algorithms and smart contracts to control the token supply.
C. They hold a reserve of fiat currency, such as the U.S. dollar, as collateral.
Question 3:
What is the main function of stablecoins in the cryptocurrency ecosystem?
A. To offer a highly volatile investment opportunity.
B. To provide a stable value for trading, investing, and everyday transactions.
C. To completely replace fiat currencies in global economies.
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