Crypto betting basics quiz

Crypto betting basics quiz

Score 80% or higher to earn your exclusive Cloudbet promo code — and show you know the crypto betting basics.

Time to complete: 3min

Crypto betting basics quiz

This quiz checks your understanding of the core crypto betting modules — from Bitcoin wallets and USDT to provably fair gaming and KYC rules.

1 / 8

What’s the safest way to start betting with Bitcoin?

Use any betting site that accepts crypto

Keep coins in your sportsbook account long-term

Deposit only to trusted, licensed sportsbooks with cold-storage wallets

Share your wallet keys with support for verification

2 / 8

Which type of wallet gives you the strongest security for long-term bankroll storage?

Hot wallet

Cold wallet

Exchange wallet

Custodial wallet

3 / 8

Why do some bettors use USDT instead of Bitcoin?

It increases profits through price swings

It avoids crypto volatility while keeping blockchain speed

It adds KYC protection

It has higher withdrawal fees

4 / 8

What does “provably fair” mean in crypto gaming?

Games are regulated by central authorities

Players can verify each bet’s fairness using blockchain cryptography

Casinos publicly share all winning tickets

RNG software is audited once per year

5 / 8

What’s the purpose of blockchain confirmations for bettors?

To calculate bonuses

To verify that deposits and withdrawals are final and irreversible

To ensure fast price changes

To anonymize wallet IDs

6 / 8

Which is a major advantage of crypto betting over traditional sportsbooks?

Much bigger bonuses

Fast, low-fee transactions with no bank intermediaries

Access to exclusive crypto-only trading markets

Instant fiat withdrawals

7 / 8

Why does Cloudbet require KYC for some users?

To restrict bonuses

To meet licensing requirements and comply with laws that protect player funds

To speed up withdrawals and loyalty rewards

To prevent users from using stablecoins

8 / 8

What’s the best rule of thumb when it comes to Bitcoin betting legality?

It’s legal everywhere

Always check your region’s regulations before depositing

Only offshore sites can accept Bitcoin

It’s illegal in all European countries

Your score is

The average score is 89%

Crypto betting basics quiz

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