The reading passage is comprised of several paragraphs and appears to have been taken from a magazine or a newspaper article.

It offers basic information about cryptocurrency and cryptoexchanges for beginners and the uninitiated. It has been written in simple formal English. Other features of the passage include:

• The sentence structure is small to medium information, drafted using simple language.

• The parts of the passage have individual titles that help in understanding the content.

• The tone is formal and the passage tests candidates' basic strength of the English language, which includes vocabulary, grammar, reading skills, information processing skills, etc.

The key points in the passage are:

1. The article is intended for light reading to gather an idea about the topic.

2. It also defines the basic terminology associated with the main topic such as cryptocurrency, cryptoexchange, bitcoin, hot wallet, cold wallet, etc.

3. The flow is logical and the subheadings help in understanding the paragraph content.

4. The article is an example of an informative or factual passage.

Q1. Complete the following sentence:

_________________ , the first of many, ushered in the concept of ________________ in the world.

B) Bitcoin, cryptocurrency

Q2. Read the following statement and choose from the options:

According to the article, cryptocurrency like bitcoin is managed using encryption.

B) False

Q3. What according to the passage determines the valuation of bitcoin?

C) Limited numbers in terms of availability

Q4. According to the passage, “So far, there is no fixed regulation or governing authority managing and monitoring bitcoin trading unlike physical currencies like the U.S. Dollar or the Euro.”

Can we infer that BTC and all activities associated with it, such as trading and storing, are essentially illegal?

C) No

Q5. Complete the following sentence:

Dogecoin and Ethereum are types of _____________

A) Cryptocurrency

Q6. Why, according to the passage, are BTC and other similar cryptocurrencies extremely secure to transact with?

D) All the above

Q7. Which of these is not an example of a cryptoexchange?

Huobi Global, KuCoin, Coinbase, Kraken, Tether

A) Tether

Q8. Read the following sentence that appears in the passage:

These ‘currencies’ have not been recognised by any government or financial regulatory authority as valid legal tender, and only a few companies have started accepting them in exchange for products or services.

Which of the sentences among the options best expresses the essential information in the sentence?

C) Cryptocurrencies do not yet have regulatory authorisation and are not accepted by most businesses.

Q9. Define a hot wallet.

B) A software based storage option for cryptocurrency mostly offered by cryptoexchanges to registered customers.

Q10. What is the theme of the passage?

C) To give an overview about cryptocurrency and cryptoexchanges, highlighting basic activities such as trading and storing.