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Which of the following words will you not use to describe cryptocurrency*Virtual currencyBlockchain technologyLegal tenderVolatile

Question

Which of the following words will you not use to describe cryptocurrency?

  • Virtual currency
  • Blockchain technology
  • Legal tender
  • Volatile
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Solution

When considering the four options to describe cryptocurrency — "Virtual currency," "Blockchain technology," "Legal tender," and "Volatile" — the term that is least appropriate or not commonly used to describe cryptocurrency would be "Legal tender."

Explanation:

  1. Virtual currency: This is a term often used to describe cryptocurrencies as they exist in a digital form and are used for online transactions.
  2. Blockchain technology: This refers to the underlying technology that supports cryptocurrencies. It is essential for understanding how cryptocurrencies function.
  3. Legal tender: This term typically refers to money that must be accepted if offered in payment of a debt. Most cryptocurrencies are not classified as legal tender; they are not recognized as a valid form of payment by governments in the same way that currency is.
  4. Volatile: This describes the price fluctuations commonly associated with cryptocurrencies, which are known for their rapid increases and decreases in value.

In summary, "Legal tender" is the term that does not appropriately describe cryptocurrency as it generally pertains to government-issued money, while cryptocurrencies do not fit within this category.

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