Phemex Learn & Earn Answers: How to earn USD on Phemex

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.

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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

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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.

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