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Bitcoin

Category - What is Bitcoin

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Which of the following is Bitcoin considered to be?

A peer-to-peer currency.
Fiat money.
Dollar-backed currency.
Gold-backed currency.

Explanation

Answer: A - Bitcoin is considered to be a peer-to-peer currency. This means that when a transaction occurs, there is no central regulatory body, and the two individuals that are conducting the transaction pass the currency directly between one another.

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