uys welcome to the world of crypto. By checking the Binance Futures Quiz answers you will get an idea of future trading.
Understanding the futures market is much profitable and trading can be engaging, fun also it can lead to financial and emotional distress.
The leading crypto exchange ‘Binance’ is owned by Mr. Changpeng Zhao also supports futures trading with high volume.
Somehow Futures trading is always a risky option in the trading business. You can lose your all money or earn a lot.
Binance/Crypto Futures allow you to predict the future value of a cryptocurrency (e.g. Bitcoin).
By going long or short on a futures contract, you mayparticipate in market moves and make a profit in futures trading.
For example, a trader who goes long buys a futures contract with the idea that its value will climb in the future.
On the other hand, a trader sells a futures contract to go short—betting that prices will fall in the future.
On Binance Futures, you can go long or short (with leverage) to decrease your risk and increase your profits in a volatile market.
Before you can start trading Futures, you need to complete the Binance Futures quiz.
In this guide, we’ll use the desktop version of Binance (binance.com) to access the quiz.
Binance futures quiz answers 2022
1. What is the maximum leverage available on Binance Futures？
Correct – 125x (answer #1)
2. Which wallet is not supported for trading on Binance Futures?
Correct – Margin wallet (answer #3)
3. Which of these is not the key difference between USDT-margined futures and coin-margined futures?
Correct – Leverage level (answer #3)
4. What can the maximum loss for trading in a futures contract be?
Correct – 100% of collateral (answer #1)
5. Which of these is not the key difference between perpetual futures and quarterly futures?
Correct – Trading method (answer #2)
6. If a user has open orders or position, which of the following can be done by the user?
Correct – Borrow by using cross collateral function (answer #3)
7. What is the reference price Binance Futures uses to determine if a position should be liquidated?
Correct – Mark price (answer #3)
8. When will a user receive margin calls? When his/her margin balance is lower than:
Correct – Maintenance margin (answer #3)
9. Can BNB in users’ USDT-margined wallets be used as margins to open new positions?
Correct – No, BNB in users’ USDT-margined wallets can only be used to pay commissions. (answer #2)
10. Can unrealized PNL be used as margins to open new positions?
Correct – Yes (answer #1)
11. Which one of the following actions is NOT recommended during drastic price movements?
Correct – Use market order to get in or get out (answer #3)
12. Should you take up a personal loan to trade futures?
Correct – No, I should trade within my financial means. (answer #2)
Activity period: 2021-12-29 00:00 AM to 2022-01-04 11:59 PM (UTC)
Promotion A: Learn and Earn $65,000 Prize Pool in LINA Tokens
All users who trade 5,000 LINA or more (buys and sells) across all eligible LINA spot and margin trading pairs, finish watching the LINA introduction video and take the quiz in this form with at least 1 correct answer during the activity period will share a prize pool of $65,000 in LINA token vouchers, based on the proportion of each user’s total effective LINA spot and margin trading volume multiplied by the number of correctly answered questions by the user.
The reward for the qualified user = (Individual user’s number of correctly answered questions*the user’s total effective trading volume) / (Sum of each qualified user’s number of correctly answered questions*Individual user’s total effective trading volume) * $65,000 in LINA token vouchers.
Promotion B: Trade LINA and Win $55,000 Prize Pool in LINA Tokens!
The top 30 users ranked by total effective trading volume (buys and sells) across all eligible LINA spot and margin trading pairs, will share a prize pool of $55,000 in LINA token vouchers. The rewards will be split based on each user’s total effective trading volume as a proportion of the top 30 users’ total effective trading volume during the competition period.
The reward for each user in the top 30 = (Each user’s total effective trading volume / Top 30 users’ total effective trading volume) * $55,000 in LINA token vouchers.
Terms & Conditions:
Only users who click the [register now] button on this page and complete KYC by the end of the promotion period shall be eligible for any rewards.
If you don’t have a Binance account, click here to get a 10% trading fee discount. The 10% spot trading fee discount will remain valid as long as the Binance referral program is in place. The 10% futures trading fee discount shared by the inviter will last for 30 days from the date of Futures account activation.
Eligible LINA spot and margin trading pairs: LINA/USDT, LINA/BTC.
Binance will use the average closing price at 11:59:59 PM (UTC) of LINA/USDT trading pair during the activity period as the LINA exchange rate used for distribution.
Winners from Promotion B will not be eligible for winning rewards from Promotion A.
Rewards will be distributed within 2 weeks after the activity ends. You will be able to log in and redeem your token voucher via Account > Reward Center.
The validity period for the token voucher is set at 14 days from the day of distribution. Learn how to redeem a token voucher.
Please make sure that you fill in your Binance UID in the Google form correctly. Failure to fill it in correctly will be regarded as a waiver of the qualification to participate in Promotion A in the activity.
Binance will combine sub-account’s and margin account’s trading volume with the master account’s standard trading volume in the final calculation. Each sub-account will not be viewed as an independent account when participating in this activity.
Trading volume counts both buys and sells, excluding any wash trades, across all eligible LINA spot and margin trading pairs.
Binance reserves the right to disqualify trades that are deemed to be wash trades or illegally bulk registered accounts, as well as trades that display attributes of self-dealing or market manipulation.
Binance reserves the right to cancel or amend any Activity or Activity Rules at our sole discretion.
Risk warning: Cryptocurrency trading is subject to high market risk. Please make your trades cautiously. You are advised that Binance is not responsible for your trading losses.
Binance reserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice.
Binance Crypto Exchange Quiz Questions and Answers Tutorial for Bitcoin BTC Futures Trading Platform
1. What is the maximum loss that may occur when engaging in futures trading?
Ans.- All futures wallet balance
2. When futures balance is liquidated, what price is it based on?
Ans.- Mark Price
3. Are you aware that after the future is forcedly liquidated, in addition to the loss of the position, Insurance Clear Fee (= Position nominal value * Liquidation fee rate) will occur, which may decrease your futures wallet balance to zero?
Ans.- Yes, I am aware of the existence and calculation of the Insurance Clear Fee and the risks that may cause the balance to return to zero.
4. There is a maximum number of orders for each future. Which action should I take?
Ans.- Once the maximum quantity limit is reached, the order will fail, and an error will be reported. At this time, I should divide the order into several smaller quantities.
5. Which of the following apply when using a stop-market order?
Ans.- After the stop-profit and stop-loss price is triggered, the transaction will be executed immediately at the market price, and the transaction price may not be equal to the trigger price.