Bitpanda Beginners’ Quiz / Test answers: earn €5 in BEST! is a European exchange for cryptocurrencies, stocks, and metals. They have a native cryptocurrency called ‘Bitpanda Ecosystem Token’, or BEST for short.

Every Bitpanda user can currently earn €5 in free BEST from their ‘Learn and Earn’ opportunity!

No account yet? You can sign-up here.

You can learn about personal finance, Bitcoin, and cryptocurrencies, in the Bitpanda Academy. To earn BEST, you’ll have to learn cryptocurrency basics in the ‘Beginner lessons’ (here), and pass the Bitpanda Beginner test/quiz (here).

If you score over 80% in this quiz, your Bitpanda wallet will automatically be credited €5 worth of BEST.

I recommend actually checking out the lessons if you’re new to crypto. The information is presented in an easy-to-digest format, including video.

However, if you want to make sure you’ll pass the test and earn the €5 in BEST, you can find all of the correct answers below.

Bitpanda Beginners’ Quiz / Test answers

These are the correct answers for all 15 quiz questions:

  1. Pre-mined coins …can be an incentive for early adopters
  2. The Bitcoin network is considered very safe… …because it is decentralised and distributed across thousands of nodes around the world
  3. A full Bitcoin node… …supports the Bitcoin network and validates transactions and blocks
  4. Installing two-factor authentication is … … important because it adds an additional layer of security
  5. “Market cap” is important … … for being aware of the total supply of a cryptocurrency
  6. Which one of the following is a Bitcoin scaling solution? – SegWit
  7. A blockchain contains …the complete history of every transaction that has ever taken place in the network
  8. Ethereum … … was created as a platform for decentralised applications
  9. Bitcoin is … … primarily a speculative store of value
  10. A Bitcoin address… …is a series of characters and digits
  11. Bitcoin nodes … … are connected with other computers, follow rules and share information
  12. People attribute value to fiat money because … … there is agreement that they can exchange goods and services with it
  13. A red flag before investing in an ICO could be … … that the project could be completed without blockchain technology
  14. XRP was created with the goal to provide a viable alternative… …to existing payment platforms
  15. The Bitcoin price potentially … … goes up when demand for Bitcoin goes up

These answers gave me a 15/15 score, and made me pass the Beginner test! After that, I was immediately credited €5 worth of BEST tokens:

These tokens are instantly available for you, to do with whatever you like. There are advantages to holding BEST, which you can read more about here.

If you don’t want to hold these tokens, you can also sell them, and buy other cryptocurrencies with the €5. You can withdraw most cryptocurrencies on Bitpanda to any of your crypto wallets.