Today’s cex.io quiz answers are updated here, participate in the quiz to earn 10000 CEXP points.
Answers to cex.io Questions Today December 12, 2024
Question 1: What happens to exchange rates in a world dominated by cryptocurrencies? Answer: They will disappear because cryptocurrencies work the same everywhere.
Question 2. How will taxes work in a cryptocurrency-only economy?
Answer: The government will collect taxes in cryptocurrency.
Question 3. What is a funny downside to volatility mentioned in the video?
Answer: Google how to pay rent with memes.
Question 4. How can cryptocurrencies impact privacy?
Answer: It offers more privacy than traditional banking.
Question 5. What are the potential disadvantages of paying with cryptocurrency?
Answer: The value of your salary may decrease due to fluctuations.
Question 6. What is the main content of the video?
Answer: A crypto-only world would be exciting but chaotic.
Question 7. What can happen if your cryptocurrency crashes while you are traveling?
Answer: Your budget may be significantly narrowed.
Question 8. What will happen to banks in a world where cryptocurrencies replace all currencies?
Answer: They will be replaced by blockchains that process transactions.
Question 9. What could be the challenge for older generations in a crypto-only world?
Answer: Accidentally sent money to the wrong wallet.
Question 10. What happens if you send cryptocurrency to the wrong address?
Answer: Transaction cannot be undone.
Question 11. How would you buy groceries in a crypto-only world?
Answer: By scanning the QR code and paying with cryptocurrency.
Question 12. What is the big risk in a world without traditional currencies?
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.
- Most services require KYC (Know Your Customer) verification to ensure compliance with regulations.
2. Buy and sell cryptocurrencies:
- Buy Cryptocurrency: Users can buy Cryptocurrency such as Bitcoin (BTC), Ethereum (ETH) and others by:
- Credit or debit card.
- Bank transfer (SWIFT, SEPA, etc.).
- Payment service (depending on region).
- Sell cryptocurrency: Users can convert their cryptocurrency into fiat currencies such as USD, EUR or GBP.
3. Transaction:
- Spot Trading: Real-time cryptocurrency trading 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. Betting service:
- 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: Margin trading platform with advanced tools.
- Fiat and Cryptocurrency Wallets: Store and manage assets securely.
6. Security and compliance:
- CEX.IO uses strong security measures, such as two-factor authentication (2FA), anti-phishing protection, and cold storage of coins.
- The platform complies with global financial regulations, ensuring a safe and compliant trading environment.
Advantages of CEX.IO:
- User-friendly interface for beginners.
- Many payment methods.
- Advanced trading options for experienced users.
- Support for a wide range of cryptocurrencies.
CEX.IO is an all-in-one platform to manage your crypto journey, whether you are investing for the first time or are actively trading.
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