Binance Crypto Scams Quiz Answers
Binance Crypto Scams Quiz Answers – Get $10 $BNB For free
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Welcome to Binance Learn & Earn Series. At the name suggests, you will learn about a specific topic and will be quizzed after on what you have learned. Those that pass the Quiz will win a shared prize pool £10,000 in BNB. In today’s session, we will delve into “How to Spot Crypto Scams”.
Also Read: Binance Pay Crypto Box Giveaway
Binance Crypto Scams Quiz Answers – Get $10 $BNB Token For free
1. First Of All Click The Below Link And Create A New Binance Account.
2. Now Tap On Login/register And Register On Binance With Your Valid Mobile/Email.
3. Now Verify Your KYC and Go to Your Binance Wallet.
4. Now Click The Below Link To Participate In The Binance Crypto Scams Quiz.
6. Enter Your Binance User ID And Complete The 25 questions Learn & Earn Quiz.
7. Those that get higher than 90% will win an equal share of £10,000 in BNB prizes.
8. The deadline to complete this Quiz is Friday 2nd September 2022 at 17:59 UTC.
9. Rewards will be distributed within 2 weeks after the Quiz Ends.
Binance Crypto Scams Quiz Answers
Q1. A Crypto scam is a scheme designed to deceive and trick someone out of crypto.
Q2.Why are Crypto scams riskier than traditional scams involving fiat?
Ans: Crypto scams are riskier because transactions are irreversible
Q3. Out of the following three options, which one is the most likely reason for why Crypto scams are rising?
Ans: Fraudsters are taking advantage of FOMO and technical inexperience of newcomers
Q4. How much was lost in crypto related fraud in 2020?
Q5.Tick all the common types of Crypto scams from below.
Ans: Project/Token Frauds, Malware Installation, Fake Crypto sites/wallets, Giveaway/Airdrops Scams, Fake Crypto investments, Wallet/Account Hijacking
Q6. What are the two main ways for Crypto Project teams to fund their projects?
Ans: Public Offerings & Private Fundraising
Q7.What does ICO stand for?
Ans: Initial Coin Offering
Q8.What is one of the differences between ICO and IPO?
Ans: ICOs have little to no investor protection whereas IPOs are regulated
Q9. What is an IEO?
Ans: Initial Exchange Offering
Q10. True or False: Fraudsters often impersonate official websites (or emails) such as Binance to lure victims into sending them money?
Q11. True or False: Fraudsters will often post as celebrities, influencers or hack into social media accounts to lure victims into sending them money
Q12. Are Crypto giveaways safe?
Ans: Sometimes – but some crypto giveaways can be scams/fraudulent
Q13. True or False: Will Binance Customer Support contact you via a Phone call?
Q14. What are the four main methods to protect yourself from scams? Tick all that apply:
Ans: Distinguish between official and fake communication, Research and do your due diligence into project/tokens, Secure your crypto accounts with 2FA, Avoid clicking on Phishing or Suspicious Links
Q15. True or False: SIM Swapping can only occur if you physically lose your Phone?
Q16. Where can you locate the Binance Verify page?
Ans: Only though Binance website: https://www.binance.com/en/official-verification
Q17. True or False: Scammers can often gain access to your Crypto by purposefully making you download malware (harmful software) via your mobile or computer service?
Q18. What questions do you need to ask during due diligence checks before investing in Projects/Tokens?
Ans: All of the above
Q19. True or false: Anti-Phishing code is an additional security feature provided by Binance that allows users to add an extra layer of security to their account?
Q20. What is 2FA?
Ans: Two Factor Authentication
Q21. What methods of 2FA are you recommended to use? Tick all that apply:
Ans: Use Trusted Antivirus Program (and Firewall), Protect your Login Credientials with a Strong Password, Keep a separate/dedicated computer/phone just got Crypto accounts
Q22. True or False: Phishing is one of the most wide-spread and common cyber attack technique. It is a type of social engineering attack that involves psychological manipulation and relies on human failures.
Q23. What is a Rug Pull?
Ans: Crypto Project team sell all their Tokens in the market which results in token price essentially going to zero.
Q24. What is Binance doing to help mitigate Scams? Tick all that apply:
Ans: Implementing Strict Security Measures, Making KYC (Know Your Customer) Mandatory, Working with Law Enforcement
Q25. Should you contact your Local Police/Action Fraud if you have been scammed?
Terms and Conditions
- Learn & Earn Quiz has 25 questions (100 points)
- Those that get higher than 90% will win an equal share of £10,000 in BNB prizes
- The deadline to complete this Quiz is Friday 2nd September 2022 at 17:59 UTC
- Rewards will be distributed within 2 weeks after the Quiz Ends
- You can only submit once, so be sure you have double-checked all answers
- There is no time limit during the quiz, so you can take as long as you need
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