Certified Bitcoin Professional Practice Exam

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Prepare for the Certified Bitcoin Professional Exam with interactive quizzes and multiple choice questions. Enhance your knowledge of Bitcoin and blockchain technology, and boost your confidence for exam day. Begin your journey to certification now!

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

Practice this question and more.

What is considered the safest way to receive bitcoin?

Receiving it on a public wallet
Using an exchange
Having a sealed paper wallet
Requesting a transfer via email

The correct answer is: Having a sealed paper wallet

Having a sealed paper wallet is considered the safest way to receive bitcoin because it is an offline method of storing the cryptocurrency, which significantly reduces the risk of online theft or hacking. A paper wallet contains your public and private keys printed on a piece of paper, and if it is created and stored securely, it is immune from online vulnerabilities. When the paper wallet is sealed and kept in a secure location, such as a safe, the funds are only accessible by physically possessing that paper. This means that even if there are security breaches or phishing attempts in the online environment, the bitcoins stored within a sealed paper wallet remain safe from unauthorized access. In contrast, other options like receiving bitcoin in a public wallet or using an exchange expose the user to various security risks. Public wallets connected to the internet are vulnerable to hacking, and exchanges, while convenient, can also be targets for cyber attacks. Requesting a transfer via email lacks the necessary security measures and is generally not recommended, as it can lead to phishing attacks or the exposure of sensitive information.