Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

Living in the I.T Era > Cryptocurrency > Flashcards

Cryptocurrency Flashcards

1
Q

type of virtual asset, utilized as a form of digital currency that is exchanged to transfer assets and other forms of financial instrument

A

cryptocurrency

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

aims to enable online retailers accept customer payments in cryptocurrencies

A

cryptocurrency e-commerce

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

key capabilities of cryptocurrency e-commerce

A
  • access to a larger customer base
  • secure, fast, and cost-effective payment processing
  • end-to-end traceability of payment transactions
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

ways to accept crypto payments

A
  • integrating with a third-party crypto payment gateway
  • embedding crypto payment buttons into an e-commerce website
  • building a custom crypto payment processing solution
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

cost of the custom crypto payment solution development

A

50,000 - 150,000+ dollars (depending on the solution complexity)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

average timeframe for building a custom crypto payment solution

A

3-6 months

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

value of using cryptocurrencies in e-commerce

A
  • access to a global and diverse customer base
  • peer-to-peer payments
  • end-to-end traceability of cryptocurrency transactions
  • crypto payments verification
  • smart contract-based automation
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

benefits you get with cryptocurrency e-commerce

A
  • reduced payment processing costs
  • faster receiving of funds
  • minimized risk of payment fraud
  • full visibility
  • eliminated human involvement
  • extended client base
  • increased customer satisfaction
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

advantages of cryptocurrency as payment

A
  • reach a broader market
  • process transactions faster
  • get lower transaction fees
  • reduce risk of fraud
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

online merchants that accept bitcoin

A
  • Microsoft Store
  • Overstock
  • Namecheap
  • NewEgg
  • ExpressVPN
  • AMC Theatres
  • Shopify
  • Rakuten
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

disadvantages of cryptocurrency in e-commerce

A
  • price volatility
  • lack of buyer protection
  • environmental concerns
  • cryptocurrency taxes
  • accepting cryptocurrency payments on your website
  • digital wallet
  • shipping
  • payment processor
  • marketing
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

first modern cryptocurrency

A

bitcoin

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

who created bitcoin

A

Satoshi Nakamoto

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

in what year was bitcoin created

A

2009

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

crypto is changing e-commerce by enabling ____ with _____ and improving ____

A
  • fast transactions
  • low fees
  • fraud protection
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

acc to ____ cryptocurrency is a virtual asset utilized as a form of digital currency that is exchanged to transfer assets and other forms of financial instruments

A

Harwick (2016)

17
Q

acc to ____ cryptocurrency is not controlled by a major governing body, such as a banking system or other financial institution. instead it utilizes a public transaction ledger

A

Park and Park (2019)

Living in the I.T Era (6 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions