Binance Learn & Earn BUSD Quiz Answers
Binance Learn & Earn BUSD Quiz, Binance Learn & Earn BUSD Quiz Answers – Hi Guys, Hope you are enjoying our daily posting of amazon quiz answers & amazon funzone stars quiz answers. Meanwhile , Binance the popular crypto platform of the world has announced another learn & earn BUSD quiz program for all users. Binance learn & earn is great source of free crypto earning without spending any penny.
There will be 2 Quizzes (BNB, BUSD) from 18th January 2022 in Binance learn & earn. we have already posted the Binance learn & earn BNB quiz answers. keep that tab open while solving the questions.
We have already posted each & all Binance Learn & earn quiz answers in 1 post. must check out that one too.
Meanwhile , Binance has announced next chapter of “Binance Learn & Earn BUSD quiz“, where users can gain knowledge about BUSD coin and earn up to $2 in crypto by completing course and quiz of BUSD.
BUSD is a regulated, fiat-backed stablecoin pegged to the U.S. dollar. For every unit of BUSD, there is one U.S. dollar held in reserve. In other words, the supply of BUSD is pegged to the U.S. dollar at a 1:1 ratio. Holders can swap their tokens for fiat and vice versa. Paxos, the token’s issuer, releases monthly attestations of BUSD’s reserves.
Binance Learn & Earn BUSD Quiz
|Binance Learn & Earn BUSD Quiz||Details|
|Quiz about :||BUSD Token|
|Quiz Date :||18th January 2022|
|Quiz Time :||2.30 PM IST|
|Number of Questions :||10|
|Number of winners :||1st come 1st serve|
Binance Learn & Earn BUSD Quiz : How to Participate
- First of all update your Binance app from Playstore to latest version of visit this Binance Learn & earn quiz webpage directly
- New Users of Binance can create new account from here
- Login into your Binance account
- Go to homepage & you will see this Binance learn & earn quiz banner
- Click on that
- New chapter of learn & earn BUSD quiz will live from 2.30 PM IST
- start the quiz at same time & solve using below already solved Binance BUSD Quiz answers
Binance Learn & Earn BUSD Quiz Answers
Answers will be updated here soon & on Our Telegram channel
|Binance BUSD Quiz||Answers|
|1. What is the name of the BUSD-pegged token Binance offers on BNB chain and other chains?||Binance-peg BUSD|
|What is the total supply of BUSD?||Just over 22 billion|
|Which chain is BUSD minted on by Paxos?||Ethereum|
|Who regulates BUSD?||NYDFS (New York Department of Financial Services)|
|Who mints BUSD?||Paxos|
|What fiat currency is BUSD pegged to?||U.S. Dollar|
|BUSD is backed 1:1 with:||Cash reserves|
|How can you purchase BUSD or Binance-Peg BUSD?||All are correct|
|What can BUSD be used for?||All are correct|
|Which of the following descriptions is incorrect?||BUSD doesn’t provide a monthly basis attestation report.|
Details About BUSD Tokens (Useful in Binance BUSD Quiz)
BUSD is a stablecoin founded by Paxos and Binance. Paxos uses blockchain technology to offer their Stablecoin as a Service product to external companies. In the past, they also created a gold-backed stablecoin called PAX Gold (PAXG). The New York State Department of Financial Services regulates both BUSD and PAXG tokens.
On a technical level, BUSD is a fiat-backed stablecoin that maintains a U.S. dollar peg. An amount of U.S. dollars equal to the total supply of BUSD is held in custody by Paxos, acting as its reserves in FDIC-insured U.S. banks or backed by U.S. Treasuries. When the price of the U.S. dollar rises or falls, the price of BUSD also does in equal amounts. This is the most common and traditional model of stablecoin.
Terms and Conditions Of Binance BUSD Quiz :
- All eligible users are required to complete KYC to receive rewards from this activity.
- Illegally bulk registered accounts and sub-accounts shall not be eligible to participate or receive any rewards.
- Rewards are limited and are available on a first-come, first-served basis. Users can only claim the reward for each course after completing the respective quiz.
- There will be caps imposed on the amount of rewards available to eligible users per country/region.
- Eligible users may complete multiple quizzes to claim multiple rewards. Users will not be able to participate in this activity once all rewards are distributed.
- The actual value of the reward received is subject to change due to market fluctuation.