CEX Quiz Answers 22 November 2024Open CE…

CEX Quiz Answers 22 November 2024
Open CEX IO Bot: https://t.me/cexio_tap_bot?start=1726737471260929
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1. How is DeFi disrupting traditional finance?
– It offers alternatives for loans, savings, and investments
2. How do high interest rates affect crypto markets?
– They often lead to sell-offs of riskier assets like crypto
3. What does the phrase “crypto is volatile” mean?
– Its value can change dramatically due to market events
4. What’s one benefit of DeFi compared to traditional finance?
– No paperwork required for loans
5. What kind of economic event often makes Bitcoin’s price rise?
– High inflation
6. What was the key takeaway about crypto and the macro economy?
– They’re becoming more intertwined and influence each other.
7. What is Bitcoin often called during times of high inflation?
– Digital gold.
8. Why are governments introducing CBDCs?
– To provide a state-backed alternative to private cryptocurrencies.
9. What is DeFi short for?
– Decentralized Finance.
10. What financial process does Bitcoin make faster and cheaper?
– Cross-border payments.
11. What’s one benefit of DeFi compared to traditional finance?
– No paperwork required for loans.
12. How are Bitcoin and the stock market connected in 2024?
– Bitcoin’s price often moves in sync with tech-heavy indices like Nasdaq.
13. What are CBDCs?
– Central Bank Digital Currencies.