CEX Quiz Answers 9 November 2024Open CEX…

CEX Quiz Answers 9 November 2024
Open CEX IO Bot: https://t.me/cexio_tap_bot?start=1726737471260929
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Task: “Top Risks in Crypto Trading (and How to Handle Them)”
1. What did the video say about government regulations in crypto?
– Regulations can change suddenly and affect trading
2. Why is patience important in crypto trading?
– Because crypto rewards research, not panic
3. What is liquidity risk in crypto?
– The difficulty of selling coins with few buyers
4. What is advised about sharing your private keys?
– Never share them with anyone
5. What is security such a big concern in crypto trading?
– There is no bank protection if you get hacked
6. What happens if someone loses access to their crypto wallet?
– They may lose their crypto permanently
7. What is the best approach for trading in the world of crypto?
– Be informed, stay patient, and avoid risky decisions
8. Why should you avoid buying crypto based on FOMO (Fear of Missing Out)?
– It can lead to hasty decisions
9. Why is it important to use trusted exchanges?
– They help protect against scams
10. What can happen if you buy a low-liquidity coin?
– You may not be able to sell it easily
11. What is the main characteristic of crypto prices that makes trading risky?
– High volatility
12. How often do crypto prices change compared to traditional markets?
– Much more frequently and with large swings