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Binance Learn & Earn BNB Quiz Answers

Q1) BEP-2 BNB is the native coin of Ethereum. True or false?

Answer: False

Q2) What use cases does BNB have?

Answer: All are correct

Q3) Which token standards exist for BNB?

Answer: All are correct

Q4) Owning BNB provides you with a share of Binance’s profits.

Answer: False

Q5) Which token standards exist for BNB?

Answer: All are correct

Q6) BNB was originally issued as a:

Answer: ERC-20 token on Ethereum

Q7) What was BNB’s initial sale price during its distribution?

Answer: 1 ETH for 2700 BNB and 1 BTC for 20,000 BNB

Q8) BNB launched through an initial game offering (IGO) in 2017?

Answer: False

Q9) Total supply of BNB?

Answer: 200 million BNB

What is Binance Coin (BNB)?

BNB is also known as Binance coin. This cryptocurrency is issued by Binance and it powers the BNB Chain ecosystem. It is one of the world’s most popular utility tokens. You can use BNB as money to pay for goods and services and buy virtual gifts. BNB token runs on the Ethereum network and it was originally issued as an ERC-20 token. Many users use BNB for paying transaction fees. Binance smart chain runs in parallel with the BNB Beacon Chain. Now BNB is available in three different forms. BNB BEP-2 on the BNB Beacon Chain BNB BEP-20 on the BNB Smart Chain BNB ERC-20 on the Ethereum network

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