Revolut Crypto Quiz Answers - NEAR, Algorand, Avalanche, DOT, 1inch

Revolut Crypto Quiz Answers

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Are you ready to take the test and get rewards in Algorand, Avalanche, Polkadot, 1inch and NEAR protocol tokens on Revolut? Do you know the correct answers to the crypto quiz? Don’t worry; we’ve completed the quiz successfully, even the latest Avalanche test.

Below are the Revolut crypto quiz answers, including Algorand, Avalanche, Polkadot, 1inch and NEAR quiz answers. Copy our answers and complete the test in less than 5 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.

Before you complete the questionnaire, get the Revolut app and sign up for an account.

To avoid going through answers individually and save time, 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 set of tests that allow Revolut users to earn Algorand, Avalanche, 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. You can go through six tests on Revolut: Crypto Basics, Polkadot, 1inch, Polkadot Bonus, Avalanche, Algorand and NEAR Protocol.

Revolut NEAR answers

The NEAR quiz consists of 2 lessons and the same number of tests. After completing them, you’ll receive NEAR Protocol (NEAR) tokens worth 0,2 EUR. Please note that the actual amount varies between countries.

Lesson 1 – Intro to NEAR

Revolut near answers
  • Question #1: What is NEAR Protocol?
    • Answer: A proof-of-stake, Layer 1 blockchain.
  • Question #2: What is the purpose of Nightshade Shading in NEAR’s blockchain?
    • Answer: To enhance scalability and efficiency in transaction processing.

Lesson 2 – Blockchain Operating System

Blockchain operating system answers
  • Question #1: What is the Blockchain Operating System (BOS)?
    • Answer: An operating system designed specifically for Web3.
  • Question #2: What’s the main purpose of the BOS in the NEAR Protocol ecosystem?
    • Answer: To allow developers to easily build and distribute decentralised apps.
  • Question #3: What type of applications can be found on the BOS?
    • Answer: Social media apps, loyalty programs, NFT marketplaces and more.

Crypto basics answers

The Crypto basics quiz consists of 4 lessons and the same number 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

The Polkadot quiz 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

The 1inch quiz 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.

Revolut Polkadot Bonus answers

The Polkadot Bonus quiz consists of 2 lessons and the same number of tests. After completing them, you’ll receive Polkadot (DOT) tokens worth around 1,0 EUR. Please note that the actual amount varies between countries.

Lesson 1 – Staking with Polkadot

Revolut Polkadot Bonus answers - Lesson 1
  • Question #1: What is Nominated Proof of Stake?
    • Answer: Polkadot’s energy-efficient way of validation transactions.
  • Question #2: What are Nominators?
    • Answer: Users who stake their DOT tokens by selecting validators.
  • Question #3: What are the main reasons for users to participate in staking?
    • Answer: To help secure the network and earn DOT rewards.

Lesson 2 – Linking the chains

Revolut Polkadot Bonus answers - Lesson 2
  • Question #1: Which of the following is not a benefit of Polkadot’s multichain design?
    • Answer: It allows users to earn rewards.
  • Question #2: What is blockchain interoperability?
    • Answer: When blockchains can communicate and work together.
  • Question #3: Which of the following is not an aspect of interoperability on Polkadot?
    • Answer: It’s only for transferring tokens.

Revolut Avalanche answers

The Avalanche quiz consists of 2 lessons and the same amount of tests. After completing them, you’ll receive Avalanche (AVAX) tokens worth around 1,5 EUR. Please note that the actual amount varies between countries.

Lesson 1 – What is Avalanche?

Revolut Avalanche answers
  • Question #1: What is Avalanche’s native token?
    • Answer: AVAX.
  • Question #2: Which is true about the Avalanche Consensus Protocol?
    • Answer: The Avalanche Consensus Protocol uses less energy than other blockchains.
  • Question #3: Which of these is a requirement to be an Avalanche validator?
    • Answer: Stake at least 2,000 AVAX tokens.

Lesson 2 – How does Avalanche scale?

Revolut Avalanche quiz
  • Question #1: What does Avalanche use to improve transaction speed?
    • Answer: Subnets.
  • Question #2: Why are Subnet’s membership options useful for financial services companies?
    • Answer: They can support compliance requirements.
  • Question #3: Which of the following is a benefit of Subnets for users, long-term?
    • Answer: More affordable gas fees.

Revolut Algorand answers

The Algorand quiz consists of 2 lessons and the same amount of tests. After completing them, you’ll receive Algorand (ALGO) tokens worth around 0,2 EUR. Please note that the actual amount varies between countries.

Lesson 1 – Intro to Algorand

Intro to Algorand answers
  • Question #1: Which of the following is true about transactions on Algorand?
    • Answer: They are secure, super fast, and low in cost.
  • Question #2: What is Algorand’s consensus protocol?
    • Answer: Pure Proof of Stake.
  • Question #3: How is Algorand different from other blockchains?
    • Answer: It doesn’t fork.

Lesson 2 – Algorand & Sustainability

Algorand & Sustainability Revolut answers
  • Question #1: What makes Algorand sustainable?
    • Answer: All of the above.
  • Question #2: What happens when a governor fails to maintain their stake of ALGO during the governance period?
    • Answer: They will lose their governance rewards.
  • Question #3: How does Algorand stay carbon neutral?
    • Answer: By partnering with global organisations to offset carbon emissions.

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

Polkadot Bonus answers table:

QuestionLesson 1Lesson 2
Question 1:24
Question 2:34
Question 3:42

Avalanche answers table:

QuestionLesson 1Lesson 2
Question 1:13
Question 2:32
Question 3:14

Algorand answers table:

QuestionLesson 1Lesson 2
Question 1:14
Question 2:22
Question 3:42

NEAR answers table:

QuestionLesson 1Lesson 2
Question 1:22
Question 2:42
Question 3:3

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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