Binance BUSD Quiz Answers Today | All Solved

Binance BUSD Quiz Answers

Test your knowledge of BUSD and get up to 1 BUSD token for free if you get all Binance BUSD quiz answers correct. I have explained what is BUSD and how it works in a short paragraph below.

You will get reward as a cash voucher and therefore it can directly redeem it to in spot wallet. Meanwhile you can also earn rewards from Binance Solana quiz answers and Binance Hashflow quiz answers.

SOL and HFT rewards from the above mentioned quiz are not redeemable because it be automatically staked for 150 days and you will get 10% APR of it.

Binance BUSD Quiz

Quiz name Binance BUSD quiz
No of questions 9 to 10
Rewards Upto 1 BUSD cash voucher
Winners First come first served basis!

About Binance USD Token (BUSD)

BUSD is a type of digital currency, a stablecoin that is backed by the U.S. dollar. When you buy BUSD, you are essentially buying a digital version of the U.S. dollar.

The value of BUSD is always equal to the value to U.S. dollar and it will never fluctuate in price or lose its value like other digital currencies. It is also known as Binance USD.

It’s a commonly used token among the trading pairs that is offered on Binance exchange. BUSD token is easily accessible through Paxos or Binance.

It is flexible and therefore one can send and receive it quickly and securely throughout the world. Also the transactions made on the BUSD network are extremely fast.

When you send your BUSD to Paxos, they take BUSD and give you one USD in return, this maintains the supply and reserves at a constant 1:1 ratio.

Where To Find Binance BUSD Quiz?

  • Open the Binance app.
  • Then login to your account.
  • Go to services section and scroll down.
  • Search for learn & earn icon, just tap on it.
  • You will get BUSD quiz, complete it and earn free tokens.

Binance Learn & Earn BUSD Quiz Answers

Q1. What is the name of the BUSD-pegged token Binance offers on BNB chain and other chains?

Answer is Binance-peg BUSD

Q2. What is the total supply of BUSD?

Answer is Just over 22 billion

Q3. How can you purchase BUSD or Binance-Peg BUSD?

Answer is All are correct

Q4. Who regulates BUSD?

Answer is NYDFS (New York Department of Financial Services)

Q5. Who mints BUSD?

Answer is Paxos

Q6. Which chain is BUSD minted on by Paxos?

Answer is Ethereum

Q7. What can BUSD be used for?

Answer is All are correct

Q8. Which of the following descriptions is incorrect?

Answer is BUSD doesn’t provide a monthly basis attestation report

Q9. What fiat currency is BUSD pegged to?

Answer is U.S. Dollar

Q10. BUSD is backed 1:1 with:

Answer is Cash reserves

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