Binance Academy Courses Today Quiz Answers | Free Claim NFT Certificate: Binance Academy is an educational platform that offers a range of courses related to cryptocurrencies, blockchain technology, and trading. Binance blockchain fundamentals quiz answers, Here are some of the courses offered by Binance Academy:
- Blockchain Fundamentals: This course provides an introduction to blockchain technology and its applications.
- Cryptocurrency Trading for Beginners: This course covers the basics of trading cryptocurrencies, including how to read charts and execute trades.
- DeFi Explained: This course explains the concept of decentralized finance (DeFi) and the different protocols and applications in the DeFi ecosystem.
- Security Best Practices for Cryptocurrency: This course teaches best practices for securing your cryptocurrency holdings, including how to use hardware wallets and multi-factor authentication.
- Introduction to Crypto Economics: This course provides an overview of the economic principles that underpin cryptocurrencies, including supply and demand dynamics and inflation.
- Technical Analysis for Cryptocurrencies: This course teaches how to use technical analysis to identify trends and make trading decisions in the cryptocurrency markets.
- Bitcoin and Blockchain History: This course explores the history of Bitcoin and blockchain technology, including the origins of Bitcoin and the evolution of the blockchain ecosystem.
- Crypto Market Analysis: This course covers market analysis techniques and strategies for predicting price movements in the cryptocurrency markets.
These are just a few examples of the courses offered by Binance Academy. To explore more, you can visit their website at academy.binance.com.
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2. Proceed to the Binance academy course page from here.
3. Watch videos and complete the quizzes. Done!
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Binance Academy Courses Quiz Answers
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Course 1: Blockchain Fundamental Quiz Answers
Module 1: Introduction to blockchain technology
Q) How does a block connect to another?
Answer: Through the use of hash functions
Module 2: Brief history of blockchain technology
Q) Which of the following statements is/are correct?
Answer: A, B, C, and D
A: The idea behind blockchain technology was described as early as the 1990s
B: In January 2009, Bitcoin came to existence when the first Bitcoin block was mined
C: Satoshi Nakamoto received a reward of 50 bitcoins when the first Bitcoin block was mined
D: Vitalik Buterin started the development of a new blockchain-based distributed computing platform called Ethereum
Module 3: How does blockchain work
Q) Blockchain technology can be used by a network of strangers who don’t trust each other by relying on a mix of:
Answer: Game theory and cryptography
Module 4: Blockchain consensus mechanisms: PoW and PoS
Q) What are the differences between Proof of Work and Proof of Stake consensus mechanisms?
Answer: B,C, and D
B: Proof of Work requires expensive equipment and high energy costs; while Proof of Stake doesn’t
C: Proof of Stake selects validators pseudo-randomly, while nodes compete to solve a block in Proof of Work
D: Proof of Stake requires validators to hold and stake the native cryptocurrency, while Proof of Work doesn’t.
Module 5: Blockchain network structure: nodes and forks
Q) What is a soft fork?
Answer: B and D
B: Soft forks are upgrades to the network that are backward-compatible
D: Soft forks are considered “opt-in”
Module 6: Blockchain use cases and limitations
Question: Which of the following statements is/are correct?
Answer: A, B, and C
A: Sending money via blockchain can be fast, and incur low fees
B: DeFi aims to create a more open, inclusive, decentralized, and transparent financial system
C: Blockchain can make supply chain interactions between businesses smoother and more efficient.
Course 2: Crypto Fundamentals Quiz Answers
Module 1: What are cryptocurrencies?
Q) How are cryptocurrencies different from digital currencies?
Answer: A and C
A: A cryptocurrency is a digital currency in which transactions are verified and records maintained by a decentralized system.
C: Cryptocurrencies are an implementation of blockchain technology, while not all digital currencies are.
Module 2: Introduction to Bitcoin
Q) Which of the following statement is/are correct?
Answer: A, B, C and D
A: Bitcoin was created to meet the need for an electronic payment system based on cryptographic proof instead of trust
B: Bitcoin remains the largest cryptocurrency in terms of market capitalization
C: Bitcoin has a limited supply of 21 million coins in total
D: May 22 is Bitcoin pizza day
Module 3: Understanding different types of cryptocurrencies
Q) What is the key difference between a coin and a token?
Answer: C
C: A coin is the native asset of a blockchain, while a token is built on top of the blockchain
Module 4: Centralized and decentralized exchanges
Q) Which of the following statements is/are correct?
Answer: A, C and D
A: The two main types of crypto exchanges are centralized & decentralized exchanges
C: Centralized exchanges use a middleman to help conduct transactions
D: Decentralized exchanges don’t use a custodian
Module 5: How to use crypto wallets
Q) What’s the difference between a hot and a cold crypto wallet?
Answer: B, C and D
B: A hot wallet is connected to the Internet, while a cold wallet has no connection to the Internet
C: A hot wallet isn’t resistant to online hacking attempts; while a cold wallet is resistant to online hacking attempts
D: A hot wallet is easy to set up, while a cold wallet requires some technical experience
Course 3: Decentralization Quiz Answers
Module 1: Introduction to DeFi
Q) Which of the following statements are true?
Answer: A and D
A: DeFi refers to an ecosystem of financial applications built on blockchain networks
D: In the crypto world, not every financial service is decentralized
Module 2: DeFi use cases
Q) Which of the following is/are DeFi use cases?
Answer: B, D and E
B: Crypto borrowing and lending
D: Yield farming
E: Decentralized exchanges
Module 3: Smart contracts and DApps
Q) Which of the following statements is/are correct?
Answer: B and C
B: A smart contract refers to self-executing computer programs that run on the blockchain when predetermined conditions are met
C: DApps rely on smart contracts on a distributed network; while mobile apps rely on centralized systems
Module 4: How does a DAO work?
Q) Which of the following statements is/are correct?
Answer: A, B and D
A: DAOs have no central authority
B: DAOs let token holders vote on issues
D: DAOs are decentralized and transparent
Course 4: Web3 & Metaverse Quiz Answers
Module 1: A beginner’s guide to Web3
Q) Which of the following statements is/are correct?
Answer: A, B and C
A: Web 1.0 is “the read-only web”
B: Web 2.0 is a “read-and-write web”
C: Web 3 is “read-write-and-own web”
Module 2: What is the Metaverse?
Q) What is the metaverse?
Answer: A, B, D and E
A: The metaverse is where users consume information in a fully immersive, virtual, real-time, and three dimensional fashion
B: The metaverse is the internet of experience
D: The metaverse has blockchain and cryptocurrencies as its essential components
E: The metaverse can be virtual reality, augmented reality and mixed reality
Module 3: Understanding NFTs
Q) Which of the following statements is/are correct?
Answer: A, B, C, D and E
A: NFTs are cryptographic token that represents a unique asset
B: NFTs are crypto collectibles
C: NFTs are not interchangeable with each other
D: NFTs are individually unique
E: NFTs can be used for tokenization of real-world assets
Module 4: GameFi
Q) Which of the following statements is/are correct?
Answer: B,C and D
B: GameFi refers to play-to-earn blockchain games
C: GameFi allows users to transfer their earnings to crypto wallets and trade them
D: GameFi allows users to stake their in-game tokens to earn rewards.
Course 5: Trading Fundamentals Quiz Answers
Module 1: What is trading and investing
Q) What is the key difference between investing and trading?
Answer: Both investing and trading aim to get a return on an investment, but trading does it over a much shorter period
Module 2: What are fundamental analysis and technical analysis?
Q) Which of the following statement(s) is/are correct?
Answer: Combining fundamental and technical analysis can reduce risks and improve your analysis.
Module 3: Utilizing fundamental and technical analysis
Q) Which of the following statements is/are correct?
Answer: A and B
A: Combining fundamental and technical analysis can help create even stronger analysis when trading and investing
B: Traders and investors don’t just have to stick with one type of analysis
Module 4: Understanding market trends and cycles
Q) In a bearish market trend, the price is:
Answer: Mainly decreasing
Module 5: How does psychology impact the market
Q) Which of the following statements is/are correct?
Answer: A, B and C
A: Market psychology is one of the main topics of behavioral economics
B: Market sentiment is an average of the overall feeling of the market participants
C: In market psychology, no single opinion is completely dominant.
Course 6: Trading & Investing Strategies Answers
Module 1: Portfolio and risk management
Q) Read the sentences and answer the following question.
Answer: II only
D. Liquidity risk is the potential for loss from not easily finding buyers and sellers.
Module 2: Trading and investing strategies 1: Day trading and swing trading
Q) Which of the following statements is/are correct?
Answer: B and C
B. Day trading requires a significant time investment.
C. Swing trading positions are usually held anywhere from a couple of days to a couple of months.
Module 3: Trading and investing strategies 2: Scalping and buy & hold
Q) Which of the following trading strategies is the most suitable for beginners?
Answer: Buy and hold
Module 4: Understanding technical analysis indicators
Q) Which of the following statements is/are correct?
Answer: B and D
B. Relative strength index is a momentum indicator that shows whether an asset is overbought or oversold
D. Bollinger bands are made up of three lines
Module 5: Building a well-balanced crypto portfolio
Q) What are some general rules worth considering when building a well-balanced crypto portfolio?
Answer: A, B, C and D
A. Allocate new capital strategically to avoid overweighting any one area of your portfolio
B. Rebalance your portfolio if needed
C. Split your portfolio between high, medium, and low-risk investments and give them appropriate weightings
D. Always do your own research and only invest what you can afford to lose