cex.io Quiz Answers Today 12th December 2024

cex.io Quiz Answers Today 12 December 2024

Question 1: What happens to currency exchange rates in a crypto-dominated world?

Answer: They would disappear, as crypto works the same everywhere.

Question 2. How would taxes work in a crypto-only economy?

Answer: Governments would collect taxes in crypto.

Question 3. What was one humorous downside of volatility mentioned in the video?

Answer: Googling how to pay rent with memes.

Question 4. How could crypto impact privacy?

Answer: It offers more privacy compared to traditional banking.

Question 5. What is a potential downside of being paid in crypto?

Answer: Your paycheck value could drop due to volatility.

Question 6. What is the main takeaway from the video?

Answer: A crypto-only world would be exciting but chaotic.

Question 7. What might happen if your crypto crashes while you’re traveling?

Answer: Your budget could shrink drastically.

Question 8. What would happen to banks in a world where crypto replaces all currencies?

Answer: They would be replaced by blockchains handling transactions.

Question 9. What might be a challenge for older generations in a crypto-only world?

Answer: Accidentally sending funds to the wrong wallet.

Question 10. What happens if you send crypto to the wrong address?

Answer: The transaction can’t be undone.

Question 11. How would you buy groceries in a crypto- only world?

Answer: By scanning QR codes and paying in crypto.

Question 12. What is a major risk in a world without traditional currency?

Answer: Mismanagement of private keys and gas fees.

How CEX.IO Works:

1. Account Setup:

• Users must create an account on CEX.IO by registering with an email address or phone number.
• KYC (Know Your Customer) verification is required for most services to ensure compliance with regulations.

2. Buying and Selling Cryptocurrencies:

• Buy Crypto: Users can purchase cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and others using:
  • Credit or debit cards.
  • Bank transfers (SWIFT, SEPA, etc.).
  • Payment services (depending on the region).
• Sell Crypto: Users can convert their cryptocurrencies into fiat currencies like USD, EUR, or GBP.

3. Trading:

• Spot Trading: Trade cryptocurrencies in real-time on the market.
• Margin Trading: Leverage funds to trade larger positions, suitable for advanced traders.
• Crypto-to-Crypto Trading: Exchange one cryptocurrency for another without converting to fiat.

4. Staking Services:

• CEX.IO allows users to stake certain cryptocurrencies, earning rewards for holding them in their accounts.

5. Features for Advanced Users:

• API Integration: For automated trading strategies.
• CEX.IO Broker: A platform for margin trading with advanced tools.
• Fiat and Crypto Wallets: Securely store and manage assets.

6. Security and Compliance:

• CEX.IO employs strong security measures, such as two-factor authentication (2FA), anti-phishing protection, and cold storage of funds.
• The platform adheres to global financial regulations, ensuring a safe and compliant trading environment.

Advantages of CEX.IO:

• User-friendly interface for beginners.
• Multiple payment methods.
• Advanced trading options for experienced users.
• Support for a wide range of cryptocurrencies.

CEX.IO is an all-in-one platform for managing your crypto journey, whether you're investing for the first time or actively trading.

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