What Is USDC? Quiz Answers Binance Learn & Earn

What Is USDC? Quiz Answers Binance Learn & Earn

What Is USDC Quiz Answers Binance Learn & Earn

Complete Quiz & Earn 0.52 USDC

𝙌𝙪𝙞𝙯 : What feature makes USDC distinct from other cryptocurrencies?

𝘼𝙣𝙨𝙬𝙚𝙧 : Its value is backed by US dollars.

𝙌𝙪𝙞𝙯 : Which of the following best describes the use cases of USDC?

𝘼𝙣𝙨𝙬𝙚𝙧 : USDC allows for quick peer-to-peer transactions, can be spent with merchants, and is used for trading.

𝙌𝙪𝙞𝙯 : Select an advantage of using USDC over traditional banking methods.

𝘼𝙣𝙨𝙬𝙚𝙧 : Near-zero transaction costs.

𝙌𝙪𝙞𝙯 : Which entity issues USDC?

𝘼𝙣𝙨𝙬𝙚𝙧 : Circle.

𝙌𝙪𝙞𝙯 : What backs every USDC?

𝘼𝙣𝙨𝙬𝙚𝙧 : Highly liquid cash and cash-equivalent assets.

𝙌𝙪𝙞𝙯 : What is USDC?

𝘼𝙣𝙨𝙬𝙚𝙧 : A digital dollar that is pegged 1:1 to the US Dollar.

𝙌𝙪𝙞𝙯 : What ensures the transparency and security of USDC reserves?

𝘼𝙣𝙨𝙬𝙚𝙧 : Monthly attestation reports published by Circle.

𝙌𝙪𝙞𝙯 : How quickly can USDC transactions typically settle?

𝘼𝙣𝙨𝙬𝙚𝙧 : In seconds.