Are you looking for Binance Futures quiz answers for this month?
If YES then you are at the perfect place.
Binance Futures allows Crypto investors to trade Bitcoin-margined contracts and earn Bitcoin when their future positions return a profit.
Yes, it is all about predicting the future of a Cryptocurrency such as Bitcoin and waiting for the perfect time to make a profit.
If you really are interested in holding bitcoin for future trading then you are required to complete Binance Futures Quiz.
To make your work easier, we have compiled a list of all Binance Future Quiz Questions and their correct answers.
Without any further ado, let’s get started:
Binance Future Quiz Answers (2022)
To participate in Binance Future Quiz, you will have to create an account on Binance.
If you have not created an account on Binance yet, make sure to click on the following link and create one now.
- Create Binance Account Link — Click here
- Referral Code — 414463127
Once you have successfully created a Binance account, log in to Binance using your email ID and password.
Once logged in, click on the Wallet drop-down option and select ‘Futures’.
When you click on it, you will be taken to a new page.
Now, click on the Derivatives tab and select ‘USD-M Futures. When you click on it, you will be taken to a page, where you will have to answer multiple questions correctly.
You can also access the quiz by clicking on this link.
Once you have successfully completed the Binance Futures Quiz, you will have the Futures Trading Menu opened.
Here are the correct answers to Binance Futures Quiz (April 2022):
Q1. What is the maximum leverage available on Binance Futures?
Q2. Which wallet is not supported for trading on Binance Futures?
Ans: Margin Wallet
Q3. Which of these is not the key difference between USDT-margined futures and coin-margined futures?
Ans: Leverage level
Q4. What can the maximum loss for trading in a futures contract be?
Ans: 100% of the collateral
Q5. Which of these is not the key difference between perpetual futures and quarterly futures?
Ans: Trading Method
Q6. If a user has open orders or positions, which of the following can be done by the user?
Ans: Borrow by using cross collateral function
Q7. What is the reference price Binance Futures uses to determine if a position should be liquidated?
Ans: Mark price
Q8. When will a user receive margin calls? When his/her margin balance is lower than:
Ans: Maintenance margin
Q9. Can BNB (Binance Coin) in users’ USDT-margined wallets be used as margins to open new positions?
Ans: No, BNB in users’ USDT-margined wallets can only be used to pay commissions.
Q10. Can unrealized PNL (profit and loss) be used as margins to open new positions?
Q11. Which one of the following actions is not recommended during drastic price movements?
Ans: Use market order to get in or get out
Q12. Should you take up a personal loan to trade futures?
Ans: No, I should trade within my financial means.
That’s everything you need to know about Binance Futures Quiz and their correct answers.