Boss Challenge: Crypto Basics Quiz
    Crypto Basics for Indians
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    Module 1 · Lesson 9 of 9

    Boss Challenge: Crypto Basics Quiz

    15 min readUpdated

    Complete the Module 1 Boss Challenge, a comprehensive quiz covering all Module 1 concepts.

    Goal

    Demonstrate mastery of all Module 1 foundations: cryptocurrency basics, blockchain, asset types, the Indian landscape, wallets, charts, market cycles, and risk management.

    Mistake This Prevents

    Moving to more advanced modules without a solid foundation. Building on shaky understanding leads to compounded confusion in later modules.

    What This Challenge Covers

    The Boss Challenge is a comprehensive assessment of everything covered in Module 1:

    1. What cryptocurrency is and how it differs from fiat currency
    2. How blockchain works (confirmations, PoW vs. PoS, gas fees)
    3. Types of crypto assets (coins, tokens, stablecoins, NFTs)
    4. The Indian crypto landscape (exchanges, regulation, KYC, TDS)
    5. Wallet security (custodial vs. non-custodial, seed phrases)
    6. Reading candlestick charts (open, high, low, close, volume)
    7. Bitcoin vs. altcoins (BTC Dominance, risk levels)
    8. Market cycles (four phases, halving)
    9. Risk management for Indian investors (DCA, allocation, tax records)

    How to Prepare

    Before attempting the Boss Challenge:

    • Reviewed all 9 lessons in Module 1
    • Can explain the concept of a seed phrase to someone else
    • Know the difference between custodial and non-custodial wallets
    • Can name all four market cycle phases
    • Understand what TDS means for crypto trading in India

    Module 1 Key Terms Summary

    Term Definition
    Blockchain Immutable, distributed ledger of all transactions
    Seed Phrase 12–24 word recovery key for a non-custodial wallet
    VDA Virtual Digital Asset, India's legal term for crypto
    TDS Tax Deducted at Source, 1% on crypto sell/swap in India
    BTC Dominance Bitcoin's % share of total crypto market cap
    DCA Dollar-Cost Averaging, fixed periodic investment
    Halving Bitcoin's block reward reduction every ~4 years
    Gas Fee Transaction fee paid to network validators
    Market Cap Price × Circulating Supply
    NFT Non-Fungible Token, a unique blockchain-based digital asset

    Fedha Milestone

    Completing Module 1 with ≥70% on the Boss Challenge unlocks Module 2 (Wallets, Security & Self-Custody) and earns you the Crypto Foundations Badge on your Fedha profile.

    Key takeaways

    What to remember

    1. Module 1 covers: crypto basics, blockchain, asset types, Indian landscape, wallets, charts, cycles, and risk.
    2. The Crypto Foundations Badge confirms you have the knowledge base to progress safely to Module 2.
    3. The ten key terms in this lesson are the vocabulary of every subsequent module, so know them cold.
    4. Seed phrase security and TDS compliance are the two most practically important concepts from Module 1.
    Lesson quiz

    Quiz

    Question 1 of 10

    Pass: 9 of 10 correct

    Question 1 of 10

    Your friend says "crypto is anonymous, the government can never trace it." What's wrong with this?

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    Where Your Crypto Lives: Exchange, Wallet, and Your Seed Phrase

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