Cryptocurrency - Usage

Question 2

What is the goal of “Stablecoins”?

Answer 2

“Stablecoins” are Cryptocurrencies which have their value pegged to another currency such as USD.

Question 3

What term is used to transfer “Cryptocurrencies” or information from one “Blockchain” to another?

Answer 3

Bridging

Question 4

What “dApps” are used to transfer “Cryptocurrencies” or information from one “Blockchain” to another?

Answer 4

Cross-chain Bridge dApps

Question 5

What is another term used for “Blockchains?

Answer 5

Chains

Question 6

If you need to use a new Blockchain, why do you have to get “Money” on that “Blockchain” first?

Answer 6

To pay for the “Gas Fees”.

Question 7

Do large “Exchanges” usually allow the withdraw from several “Blockchains”?

Answer 7

Yes

Question 8

What should you do if an “Exchange” does not provide withdrawal to a particular “Blockchain” you want into?

Answer 8

You will need to send the Money to another Exchange.

Question 9

Is it benificial to withdraw to a “Blockcchain” from a large Exchange (if it allows it)?

Answer 9

Yes

Question 10

How would you “Bridge” Cryptocurrency to another “Blockchain”?

Answer 10

By using a “Bridge dApp”. You would cconnect your non-custodial wallet (Metamask) to the dApp. Then choose the “Blockchain” you would want to connect to.

Question 11

Do you have to pay “Gas Fees” each time you “Bridge” to a new “Blockchain”?

Answer 11

Yes

Question 12

What is a good dApp that is used to connnect your “Crypto Wallet” with “EVM (Ethereum Virtual Machines)” compatible blockchains?

Answer 12

Metamask

Question 13

With “Metamask”, are you able to add multiple addresses with 1 “Metamask” account?

Answer 13

Yes

Question 14

With “Metamask”, is it recommeneded to have multiple addresses?

Answer 14

Yes, this will spread the risk in case a coin you are investing has a problem.

Question 15

In “Metamask”, do you have the option to add/swtich “RPC (Remote Procedure Call) nodes”

Answer 15

Yes