Quiz 5

Which type of wallet is considered the most secure due to its isolation from the internet?

What is a major drawback of decentralized exchanges (DEX)?

Which of the following statements about web wallets (online wallets) is true?

Web wallets are always offline, providing high security.
Web wallets are also known as cold wallets due to their low risk of attack.
Web wallets are vulnerable to attacks because they are always connected to the internet.
Web wallets are only accessible through browser extensions for Chrome.

What is the main difference between mobile wallets and web wallets?

Mobile wallets are always connected to the internet, while web wallets are offline.
Mobile wallets hold private keys on a server, while web wallets store private keys on the device.
Mobile wallets are more susceptible to attacks compared to web wallets.
Mobile wallets have no desktop wallet counterparts, unlike web wallets.

What is the main advantage of using a desktop wallet compared to a web wallet?

Desktop wallets provide better accessibility and convenience.
Desktop wallets are always connected to the internet, providing faster transactions.
Desktop wallets give you full control over your private keys and crypto
Desktop wallets offer higher security against malware and viruses.

Which of the following statements about hardware wallets is true?

Hardware wallets are always connected to the internet, providing convenient online access to cryptocurrencies.
Hardware wallets are vulnerable to hacking due to their constant connection to the internet.
Hardware wallets are considered cold wallet security as they are disconnected from the internet when not in use.
Hardware wallets require regular firmware updates to maintain security.

What is a potential problem associated with paper wallets for storing cryptocurrencies?

Paper wallets are always connected to the internet, making them vulnerable to hacking.
Paper wallets are highly resistant to fire and flood damage, ensuring the safety of the stored cryptocurrencies.
Paper wallets are suitable for spending or trading cryptocurrencies.
The private key on a paper wallet could become inaccessible due to printer issues, damage, or user error, leading to loss of the stored cryptocurrencies.

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