Binance 7YA Study Week Answers

Binance Academy 7YA Product Guides Study Week

Join the festivities of Binance's 7th anniversary! Discover the new Product Guides from Binance Academy to help you navigate Binance’s products, and secure a share of up to 77 BNB in rewards. Put your knowledge to the test by completing a short quiz. All users who answer all the questions correctly will stand a chance to win a piece of the reward pool.

1.What security measures are recommended for enhancing the security of your Binance account?

Choose 1 options

A. Using a strong password, enabling two-factor authentication, and setting up an anti-phishing code.

B. Using a strong password, enabling one-factor authentication, and disabling notifications.

C. Sharing your password with trusted friends, enabling two-factor authentication, and using the same password for multiple accounts.

D. Using a weak password, disabling two-factor authentication, and ignoring phishing emails.

2.What type of order lets you set a specific price for buying or selling cryptocurrencies on Binance Spot?

Choose 1 options

A) Market order

B) Limit order

C) Margin order

D) Futures order

3.What technology does the Binance Web3 Wallet use to enhance security by eliminating the need to store private keys in a single location?

Choose 1 options

A) Blockchain technology

B) Two-Factor Authentication (2FA)

C) Multi-Party Computation (MPC)

D) Biometric authentication

4.What technology does the Binance Inscriptions Marketplace use to speed up transaction confirmations during periods of network congestion?

Choose 1 options

A) Multi-Party Computation (MPC)

B) Blockchain Sharding

C) BTC Transaction Accelerator

D) Smart Contracts

5.Which Binance Earn product allows users to earn higher interest rates by locking up their funds for a specified period?

Choose 1 options

A) Flexible Savings

B) Locked Savings

C) High Yield

D) Auto-Invest

6.Which Binance Pay feature allows users to make cryptocurrency payments by entering the recipient's email, phone number, or Binance ID (UID)?

Choose 1 options

A) Pay PIN authentication

B) QR code scanning

C) Two-factor authentication (2FA)

D) Payment link generation

7.Which Binance platform allows users to earn new tokens by locking their assets, without having to make a purchase?

Choose 1 options

A) Binance Pay

B) Binance P2P

C) Binance Launchpad

D) Binance Launchpool

8.What is the main purpose of Binance Megadrop?

Choose 1 options

A) To provide users with a platform for spot trading cryptocurrencies.

B) To offer users early access to new token projects and opportunities to earn rewards through Binance Simple Earn and Web3 quests.

C) To facilitate peer-to-peer lending of cryptocurrencies.

D) To provide a secure environment for users to store their cryptocurrencies