Revolut Crypto Quiz Answers

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Are you ready to take the test and get a reward in Polkadot and 1inch tokens on Revolut? Do you know the correct answers to the crypto quiz? Don’t worry; we’ve completed the quiz successfully, and below you can find the Revolut crypto quiz answers so that you can complete the test in less than 3 minutes.

To access the test, you need an account with Revolut and open a cryptocurrency account by accepting the terms on the app. However, if you buy crypto on Revolut, I suggest you read my Revolut crypto review, where I explain why Revolut may not be the cheapest place to buy cryptocurrencies. But before you fill out the questionnaire, get the Revolut app and sign up for an account.

To avoid going through answers one by one and save time, you can skip to the end of this page, where we’ve combined all answers in one table. Feel free to share this with your friends; they’ll also be happy to get free cryptocurrencies. Who doesn’t like getting free crypto by answering a few questions correctly, especially if you know the answers?

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What is the Revolut crypto quiz?

Revolut cryptocurrency quiz is a part of the Revolut learn and earn program. It is a test set that allows Revolut users to earn Polkadot and 1inch tokens for correctly completing them. It’s essential to answer all the questions correctly. We’ve completed the tests and collected all the answers so that you can copy them from us. Currently, you can go through three tests on Revolut: Crypto basics, Polkadot and 1inch.

Crypto basics answers

Crypto basics consist of 4 lessons and the same amount of tests. After completing them, you’ll receive DOT (Polkadot) tokens worth 6 EUR. Please note that the actual amount varies between countries.

Lesson 1 – Crypto vs fiat quiz answers

Crypto vs Fiat answers
  • Question #1: What is ‘fiat’ money?
    • Answer: Government-issued money.
  • Question #2: What are the main differences between fiat currencies and cryptocurrencies?
    • Answer: Cryptocurrencies are decentralised, and a central authority controls fiat money.
  • Question #3: Who validates transactions on the blockchain?
    • Answer: Special users that are called ‘miners’ or validators.

Lesson 2 – Cryptography in crypto

Cryptography in crypto answers
  • Question #1: Why is cryptography important for cryptocurrencies?
    • Answer: It (cryptography) removes the need for a central authority, prevents double spending, and adds security.
  • Question #2: What are private and public keys for cryptocurrencies?
    • Answer: A public key is like your account number, and your private key is like your password.
  • Question #3: Which statement is true about private and public keys?
    • Answer: It’s impossible to work out someone’s private key by looking at their public key.

Lesson 3 – Basics of Blockchain

Basics of blockchain answers
  • Question #1: What is a Blockchain?
    • Answer: A decentralised database.
  • Question #2: Who can view the Blockchain?
    • Answer: Anyone can view the Blockchain with a computer and an Internet connection.
  • Question #3: What makes the Blockchain different from a regular database?
    • Answer: It’s not controlled by any central party and can be viewed by anyone.

Lesson 4 – Risks of crypto

Risks of crypto answers
  • Question #1: What regulatory protections does your crypto have?
    • Answer: None – crypto is not regulated in most countries worldwide.
  • Question #2: How much can you lose if you buy cryptocurrencies?
    • Answer: Everything! Your investment could go to zero.
  • Question #3: When would it not be suitable to buy cryptocurrencies?
    • Answer: When one is in debt or cannot afford to lose the money invested.

Revolut Polkadot answers

Polkadot consists of 5 lessons and the same amount of tests. After completing them, you’ll receive DOT (Polkadot) tokens worth 12 EUR.

Lesson 1 – Intro to Polkadot

Intro to Polkadot test answers
  • Question #1: What are some limitations of early blockchains like Bitcoin?
    • Answer: Slow transaction speeds, high fees and inability to communicate with other blockchains.
  • Question #2: What is Web 3.0?
    • Answer: A new web built around decentralised technologies, where users have more control of their data.
  • Question #3: How does Polkadot address some of the limitations of earlier blockchains?
    • Answer: Polkadot allows multiple blockchains to communicate with each other and process transactions at the same time.

Lesson 2 – How Polkadot works

How Poladot works answers
  • Question #1: What is a relay chain?
    • Answer: A blockchain that connects other blockchains and allows them to communicate.
  • Question #2: What is a parachain?
    • Answer: A blockchain connects to the Relay chain and operates parallel to other parachains.
  • Question #3: What problems do parachains and relay chains solve?
    • Answer: The inability of blockchains to communicate with each other.

Lesson 3 – Who decides the future of Polkadot

Who decides the future of Poladot answers
  • Question #1: Who can vote for new initiatives, i.e. Polkadot network upgrades?
    • Answer: People who hold Polkadot (DOT) tokens.
  • Question #2: What is Polkadots ‘on-chain’ treasury?
    • Answer: A container of tokens that can be used to support projects that benefit the Polkadot network.
  • Question #3: How does Polkadot’s governance system differ from other popular blockchains?
    • Answer: It’s governed by a community through voting.

Lesson 4 – DOT Token

DOT token answers
  • Question #1: What is Polkadot’s crypto token called?
    • Answer: DOT.
  • Question #2: What does ‘staking’ your Polkadot (DOT) tokens mean?
    • Answer: It helps secure the network by locking up DOT tokens in return for a reward in DOT tokens.
  • Question #3: What does ‘bonding’ your Polkadot tokens mean?
    • Answer: Locking up tokens to secure a slot for your para chain on the relay chain.

Lesson 5 – Polkadot and its uses

Polkadot and it uses answers
  • Question #1: What are some use cases of Polkadot?
    • Answer: NFTs, powering smart cities, DeFi, etc.
  • Question #2: What makes apps built on Polkadot different from the apps on your phone?
    • Answer: Polkadot applications don’t need to rely on a middleman to work and can keep your data secure.
  • Question #3: How do applications on parachains communicate?
    • Answer: Via the Relay Chain.

Revolut 1inch answers

1inch consists of 3 lessons and the same amount of tests. After completing them, you’ll receive 1INCH (1inch) tokens worth around 4,5 EUR. Please note that the actual amount varies between countries.

Lesson 1 – Decentralised exchanges

1inch Decentralised exchanges answers
  • Question #1: Who facilitates an exchange on a DEX?
    • Answer: No one. The exchange is made peer-to-peer.
  • Question #2: Which of the following is a decentralised exchange?
    • Answer: Uniswap.
  • Question #3: What does DEX stand for in crypto?
    • Answer: Decentralised exchange.

Lesson 2 – How does 1inch get the best prices?

How does 1inch get the best prices answers
  • Question #1: What is the name of 1inch’s price search algorithm?
    • Answer: Pathfinder.
  • Question #2: How does 1inch find the best prices?
    • Answer: 1inch aggregates trade options across DEX platforms.
  • Question #3: Which of the following is not a feature of 1inch’s Pathfinder?
    • Answer: Provide directions to your destination.

Lesson 3 – DAOs and governance

DAOs and governance answers
  • Question #1: Which of the following is a characteristic of a DAO?
    • Answer: Decentralised.
  • Question #2: Who can vote on 1inch proposals?
    • Answer: Users who stake their 1INCH tokens.
  • Question #3: What is an example of a proposal that 1inch DAO members could vote on?
    • Answer: Allocating treasury funds for a particular proposal.

Summary of Revolut cryptocurrency quiz answers

All questions can be answered sequentially, as they are listed in the same order regardless of the location and language you have chosen in your app. However, we suggest you go through the lessons for your own benefit and knowledge.

Crypto basics answers table:

QuestionLesson 1Lesson 2Lesson 3Lesson 4
Question 1:3312
Question 2:2444
Question 3:1121

Polkadot answers table:

QuestionLesson 1Lesson 2Lesson 3Lesson 4Lesson 5
Question 1:34134
Question 2:11312
Question 3:22411

1inch answers table:

QuestionLesson 1Lesson 2Lesson 3
Question 1:444
Question 2:312
Question 3:131

Martin Kaiser

Editor-in-Chief on Globe Funder with more than ten years of experience in personal finance, stock trading and cryptocurrency fields. Martin has a master's degree in Business Administration and a strong passion for online investing.

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