BUSD

Q1) What is a cryptocurrency?

Answer: A cryptocurrency is a form of digital cash that enables individuals to transmit value in a digital setting.

Q2) The main benefit of keeping your crypto in a non-custodial wallet is that you won’t lose your crypto if you forget your password. (True or false?) 

Answer: False

Q3) BNB Smart Chain and Ethereum network are different networks, similar to various banks. We need to select the correct deposit address to make a deposit. What steps should you follow to deposit your crypto into Binance? 

Answer: Check if Binance supports the token you are depositing > Select a deposit network that the withdrawal platform supports > Retrieve the deposit address from Binance > Proceed to deposit with the deposit address > Check and verify your deposit after the transaction has been processed on-chain.

Q4) I have noticed that my Ethereum and BSC wallet addresses are identical. However, it doesn’t matter if I choose to transfer my crypto asset to any of these two networks. (True or false?)

Answer: False

Q5) Why KYC(Know Your Customer) matters? 

Answer: Select all the options