Wallets & Exchanges: How much do you know? 3 Created on February 05, 2023 By Alisa Cromer Blockchain Wallets & Exchanges: How much do you know? 1 / 5 When sending crypto peer-to-peer always make sure you first have: The recipients address for the coin The coin’s network The recipient private seed words 2 / 5 A decentralized wallet has the following characteristics It stores your private seed words, so that you only need to use an ordinary, recoverable password. It could freeze your funds if the market crashes. It may insure crypto with FDIC. None of the above 3 / 5 A centralized wallet has the following characteristics: It stores your private seed words, so that you only need an ordinary recoverable password. It could freeze your funds. It may insure crypto with the FDIC. Some organizations with centralized wallets have gone bankrupt, causing a loss of funds. 4 / 5 Decentralized exchanges are characterized by: The transactions including staking is governed by software rather than the management team. They have been experienced several high profile bankruptcies. They are compliant with KYC regulations. 5 / 5 Centralized exchanges are charactized by: A remarkable track record of safety for investors. Several high profile bankruptcies. Compliance with KYC regulations. Your score is The average score is 60% LinkedIn Facebook Twitter VKontakte 0% Restart quiz
