Virtual Labs

What is a digital wallet?

a: A physical wallet that stores digital currency Explanation

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b: A software program that allows users to store and manage cryptocurrency Explanation

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c: A website where users can buy and sell cryptocurrency Explanation

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d: A type of bank account that only holds cryptocurrency Explanation

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What is MetaMask and what is it used for?

a: A software wallet for storing and managing Ethereum Explanation

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b: A cryptocurrency exchange for trading cryptocurrencies Explanation

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c: A blockchain network for developing decentralized applications Explanation

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d: A type of hardware wallet for storing cryptocurrency Explanation

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How do I keep my MetaMask account safe?

a: You can use a strong password and two-factor authentication (2FA). Explanation

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b: You can store your private keys offline Explanation

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c: You can avoid clicking on links from unknown sources. Explanation

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d: You can do all of the above. Explanation

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What is the purpose of a seed phrase in MetaMask?

a: It is used to recover your wallet if you lose access. Explanation

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b: It is a special passcode to log in to MetaMask. Explanation

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c: It is required to send cryptocurrency transactions. Explanation

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d: It is used to track all blockchain transactions. Explanation

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What is the main function of a cryptocurrency wallet?

a: To store physical money Explanation

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b: To facilitate secure storage and transactions of cryptocurrencies Explanation

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c: To mine new cryptocurrencies Explanation

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d: To act as a cryptocurrency exchange Explanation

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Which of the following is a key feature of MetaMask?

a: It allows users to connect with decentralized applications (DApps). Explanation

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b: It acts as a traditional bank for cryptocurrency storage. Explanation

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c: It eliminates the need for a private key. Explanation

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d: It can be used only on mobile devices. Explanation

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Ethereum Wallets and Transactions