Phemex exchange’s learn & earn courses allow Phemex users to earn USD by completing educational quizzes about Phemex and cryptocurrencies.
The learn and earn courses are updated regularly with new rewards and trading bonuses. Some courses are only available for a limited time so users must be quick.
This page will take you through Phemex’s first two courses where you can earn up to $1.60 on Phemex.
- Sign up with Gemini exchange with our referral link and get $25 off your first trade!
Phemex Learn & Earn answers: Fiat Currency VS. Cryptocurrency?
Lesson 1: What is Fiat Currency?
Question 1: What entities issue fiat currencies?
Answer: Governments and Central Banks
Question 2: Are fiat currencies backed by commodities like gold?
Answer: No
Question 3: What is one of the disadvantages of fiat currencies?
Answer: Inflation
Question 4: Select two examples of modern fiat currencies?
Answer: US Dollar & Euro
Lesson 2: What is Cryptocurrency?
Question 1: A cryptocurrency is a form of ____ currency?
Answer: Digital
Question 2: Cryptocurrencies are represented by:
Answer: Unique digital codes
Question 3: A decentralized cryptocurrency means that it is controlled by:
Answer: None of the above
Question 4: What is the most well-known cryptocurrency today?
Answer: Bitcoin
Question 5: Select all the descriptions that are true about Bitcoin:
Answer: Limited Supply & Deflationary
Lesson 3: How Does a Cryptocurrency Work?
Question 1: Which of the two options do cryptocurrencies use?
Answer: Blockchain Technology
Question 2: A blockchain is:
Answer: A digital ledger or notebook
Question 3: Bitcoin’s blockchain or digital ledger will record:
Answer: All of the above
Question 4: Why is a blockchain secure? (choose all that apply)
Answer: It uses encryption methods & It has multiple copies all over the world
Phemex Learn & Earn answers: How to Buy or Transfer Crypto on Phemex?
Lesson 1: Credit Cards
Question 1: Does Phemex offer any options to purchase crypto with credit cards?
Answer: Yes
Question 2: On the Buy Crypto page, what cryptocurrency is set by default?
Answer: BTC
Question 3: Which one of the following payment channels is NOT supported by Phemex?
Answer: CoolCrypto
Lesson 2: OTC/Bank Transfer - Activate Account
Question 1: What does OTC stand for?
Answer: Over-the-counter
Question 2: What does our OTC service allow you to do?
Answer: Purchase crypto with US Dollar bank/wire transfer
Question 3: Which header option must you hover over to find our OTC trading page?
Answer: Buy Crypto
Question 4: Can you use our OTC services without activating your account first?
Answer: No
Question 5: During the activation process, individuals must select the option labeled:
Answer: Individual
Lesson 3: OTC/Bank Transfer - Deposit Money
Question 1: Once your OTC account is enabled, you will see a____ on the OTC trading page.
Answer: USD balance module
Question 2: With your OTC trading account activated, the next step is to:
Answer: Deposit
Question 3: Look at the deposit instruction page below and type in the correct reference code that would need to be added to your transfer as a note.
Answer: NAEIQWH
Question 4: Once your deposit is successful, you will see your fiat balance on the:
Answer: OTC Trading Page
Lesson 4: OTC/Bank Transfer - Purchase Crypto
Question 1: With your OTC account enabled and a fiat balance available, you’re ready to:
Answer: Purchase Some Crypto
Question 2: What is the minimum amount of USD worth of any crypto that you can buy?
Answer: $500
Question 3: Is it possible for the quoted exchange rate to refresh and change your order details?
Answer: YES
Lesson 5: OTC/Bank Transfer - Transfer Existing Crypto
Question 1: If you wanted to transfer crypto to your Phemex wallet, which menu option do you need to hover your mouse over?
Answer: Transfer
Question 2: Under the Transfer drop-down menu, which option will help you transfer crypto to your Phemex Wallet?
Answer: Withdraw to my exchange wallet
Question 3: Will the Withdraw button be enabled if you have not entered an amount to withdraw?
Answer: NO
Question 4: Under what section can pending withdrawals be viewed?
Answer: History
- Sign up for KuCoin exchange using our referral link and enjoy a 5% discount on trading fees!
How To Sign Up For Phemex Learn & Earn courses
- Create an account on Phemex
- Take the quizzes above
- At the end of each lesson, you’ll be able to claim your USD prize.
More quizzes: Coinbase NEAR Protocol Quiz Answers, Coinbase Project Galaxy (GAL) Quiz Answers, Coinbase P00LS Quiz Answers, Revolut Crypto Quiz Answers: How To Earn Polkadot