Cake Defi Bitcoin lesson answers: How to earn BTC on Cake Defi

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With Cake Defi’s learn & earn crypto lessons, registered Cake Defi users can earn up to $3.00 in crypto by completing lessons about cryptocurrencies.

The three lessons focus on Bitcoin, Ethereum (ETH) and DeFiChain (DFI).

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This page will take you through Cake Defi’s Bitcoin lesson.

Cake Defi Bitcoin (BTC) lesson answers

Question 1: Which of the following best describes bitcoin?

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Answer: A: "Bitcoin is a decentralized digital currency which was created by Satoshi Nakamoto in 2008."

Question 2: Which of the following is the simplest way to describe how Bitcoin works?

Answer: C: "The Bitcoin network allows users to send and receive bitcoins in a peer-to-peer manner and without any central authority involved."

Question 3: How does blockchain technology secure bitcoin transactions?

Answer: B: "Bitcoin transactions are recorded as a chain of blocks."

Question 4: What is the main benefit of mining and the PoW system to the Bitcoin network?

Answer: D: "PoW, alongside the chaining of blocks, makes modifications of the blockchain extremely hard."

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Question 5: Which of the following products provide long-time bitcoin investors with amazing rewards?

Answer: D: All of the above

How to sign up to Cake DeFi Bitcoin lessons

Participate in Cake Defi's learn & earn scheme by following the steps below:

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  1. Register to Cake DeFi
  2. On Cake Defi’s homepage visit the Learn & earn page
  3. Select the Bitcoin lesson
  4. Take the lesson by answering the questions listed above to earn $1.00 in crypto

More Cake Defi lessons: Cake Defi DeFiChain Lesson Answers: How To Earn DFI On Cake Defi