Question

What makes cryptocurrency different from regular currency, like the dollar? 1. Crypto is worldwide and not limited to country borders. 2. Cryptos can be used online only, while a dollar is used for in person transactions only. 3. A regular currency, like the dollar, is mainly used within a specific country. 4. Cryptos are generally not backed by anything of value, while a regular currency is backed by the good faith of a government. OA. Answers 1, 3 and 4. OB. Answers 1, 2 and 4. O C. Answers 2, 3 and 4. OD. Answers 1, 2 and 3.

Answer 1

Cryptocurrency is different from regular currency because it is worldwide, used online, and not backed by a government.

Cryptocurrency, such as Bitcoin, differs from regular currency, like the dollar, in several ways.

Worldwide: Cryptocurrency is not limited to country borders and can be used globally, while regular currency like the dollar is mainly used within a specific country.

Online vs. in person: Cryptocurrencies can be used for online transactions, while regular currency like the dollar is typically used for in-person transactions.

Backed by government: Regular currency is generally backed by the good faith of a government, while cryptocurrencies are generally not backed by anything of value.