Binance KYC Myths VS Truths Quiz Answers: Win $50 in BNB Token Voucher

Binance KYC Myths VS Truths Quiz Answers Win 50 BNB Token Voucher

Binance Myths VS Truths Quiz

Binance Myths VS Truths Quiz Answers: Answer the questions and win a share of $50 in BNB Token Vouchers.

Complete the Quiz and follow the instructions from the activity page to enter a challenge and win $50 in BNB!

Join the Quiz and get a share of the prize pool of $50 in BNB token vouchers.

Campaign Period: 2021-09-07 03:00 AM to 2021-09-14 11:59 PM (UTC).

How to participate? 

1) First of all login or SignUp on Binance: Click here

3) Take part in this KYC Myths VS Truths Quiz, answers are given below.

4) Complete a trade of at least 100 USDT across any spot trading pairs

Binance KYC Myths VS Truths Quiz Answers:

Question 1: Know Your Customer (KYC) is part of a broader umbrella term commonly called anti-money laundering (AML)

Answer: Truth

Question 2: KYC was introduced to curb illicit activities and highlight suspicious behavior as early as possible.

Answer: Truth

Question 3: KYC is not mandatory for crypto exchanges to comply with regulatory laws.

Answer: Myth

Question 4: Without KYC verification, a crypto exchange may be held liable for inadequate due diligence if a user commits a crime on the platform.

Answer: Truth

Question 5: Binance users who complete KYC can enjoy a tier upgrade with lower fees and higher withdrawal limits.

Answer: Truth