Earn $6 USD in bonuses by learning about Fiat & Crypto - Phemex Learn & Earn

What is Phemex Learn & Earn?

Launched in 2019, Phemex is a Singapore-based cryptocurrency and derivatives trading platform serving around 2 million active users. 

Just like Coinbase, CoinMarketCap or Earnathon, Phemex is offering "Learn and Earn" campaigns to reward their users for learning about cryptocurrencies. Learn about basis crypto concepts and features, take a simple quiz to put your knowledge to test and in exchange you receive trading bonuses in your Trading Accounts for every completed quiz. However, I haven't figured out what to do from those free bonuses as I do not intend to trade or deposit any money into Phemex...

To get started, you simply have to sign up to Phemex. Once you're all set, you can now take the quiz to which you will find the answer below. 

Fiat Currency vs. Cryptocurrency?

This course will teach you the fundamental differences between fiat currencies and cryptocurrencies. Before taking the quiz, make sure to watch their short videos, you might learn something new and I find them really well made!

• What entities issue fiat currencies?
  Governments and Central Banks

• Are fiat currencies backed by commodities like gold?
  No

• What is one of the disadvantages of fiat currencies?
  Inflation

• Select two examples of modern fiat currencies?
  US Dollar,
  Euro

• A cryptocurrency is a form of ________ currency.
  Digital

• Cryptocurrencies are represented by:
  Unique digital codes

• A decentralized cryptocurrency means that it is controlled by:
  None of the above

• What is the most well-known cryptocurrency today?
  Bitcoin

• What is true about Bitcoin?
  Deflationary
  Limited supply

• Which of the two options do cryptocurrencies use?
  Blockchain Technology

• A blockchain is:
  A digital ledger or notebook

• Bitcoin’s blockchain or digital ledger will record:
  All of the above

• Why is a blockchain secure?
  It has multiple copies all over the world,
  It uses encryption methods

After successfully completing the quizzes, you should have received $6 USD in trading bonuses.

Thanks for reading.

Disclaimer: All information found on this article is for informational purposes only. I do not provide any personal investment advice so please make your own research before proceeding to any investment/trading actions.

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