Binance BNB Quiz Answers: Participate in the new Binance’s learn & earn BNB quiz and earn assured free cryptocurrency in your account.
{tocify}$title={Table of Contents}What is BNB?
BNB was launched through an Initial Coin Offering (or ICO) that took place from June 26th to July 3rd, 2017 - 11 days before the Binance Exchange opened for trading. The issue price was 1 ETH for 2,700 BNB or 1 BTC for 20,000 BNB. Although BNB was launched through an ICO, BNB does not provide users with a claim on Binance profits and does not represent an investment in Binance.
BNB was originally issued as an ERC-20 token, running on the Ethereum network, with a total supply of 200 million coins. 100 million BNB was offered in the ICO, but the current total supply is lower due to periodic burning events and a real-time burning mechanism. If you want to know more about coin burns, and why BNBs are being permanently destroyed, check out What Is a Coin Burn?.
Although initially based on the Ethereum network, the ERC-20 BNB tokens were later swapped with BEP-2 BNB at a 1:1 ratio. The BEP-2 BNB is the native coin of the Binance Chain, and the mainnet launch was announced on April 18th, 2019.
In September 2020, Binance launched the BNB Smart Chain (BSC, formerly Binance Smart Chain), a blockchain network that runs in parallel with the BNB Beacon Chain. This means that you can now find BNB in three different forms:
- BNB BEP-2 on the BNB Beacon Chain (formerly Binance Chain).
- BNB BEP-20 on the BNB Smart Chain(formerly Binance Smart Chain).
- BNB ERC-20 on the Ethereum network.
How To Participate In Binance Learn & Earn Quiz?
- Click on the link given below and create Binance accoun if you do not have one.
- Click on login and register on Binance with your valid mobile/email id.
- Must complete your KYC verification which is mandatory for collecting rewards.
- On the Binance app dashboard tap on learn & earn banner or directly visit here.
- Take the Alpine quiz and earn an assured crypto reward, answers are given below.
- 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 quiz.
Binance BNB Quiz Answers
Question 1: What was BNB’s initial sale price during its distribution?
Answer is : 1 ETH for 2,700 BNB
Question 2: Owning BNB provides you with a share of Binance’s profits. True or false?
Answer is : False
Question 3: BNB was originally issued as a:
Answer is : ERC-20 token on Ethereum
Question 4: What use cases does BNB have?
Answer is : All are correct
Question 5: Which token standards exist for BNB?
Answer is : All are correct
Question 6: BEP-2 BNB is the native coin of Ethereum. True or false?
Answer is : False
Question 7: What is the total supply of BNB?
Answer is : 200 million BNB
Question 8: BNB was launched through an Initial Game Offering (IGO) in 2017. True or false?
Answer is : False