After Coinbase Earn, there is now another earn program. The data giant in the cryptospace CoinMarketCap also runs a reward program for getting to know certain cryptocurrencies. As a reward, you receive a share of the crypto currency you have learned about. With the help of our guides, the effort is about 2 minutes. Participation is very simple and can be done in no time. It is only important that you inform yourself about the respective coin and give the correct answers in order to receive the reward. Which cryptocurrency you can currently get and which answers are correct we have compiled for you here in our CoinMarketCap Earn Guide. You will also learn what to look out for.
One could think that CoinMarketCap Earn would be a kind of clone of the already successful Coinbase Earn program. As with Coinbase, you also receive a reward for learning cryptocurrency with CoinMarketCap.
We have tested the whole thing and describe the process below with the correct answers to the quiz questions.
CoinMarketCap Earn Participation
To participate in the program and receive free cryptocurrency you only have to go through a few steps.
1. Visit the website: coinmarketcap.com/earn
2. Now you can see which cryptocurrency is currently available for free. Since the program has only just started, only the crypto currency Band Protocol (BAND) in the amount of 10 $ is currently available.
3. Now click on “Earn BAND” and start the quiz by clicking on “Get started”
4. You will now see educational videos on the cryptocurrency. You can watch the videos and then click “Start Quiz“, or skip the videos and go straight to the quiz. We have summarized the correct answers for you.
CoinMarketCap Earn Quiz Answers
Important: Before you start the quiz you need a BAND wallet. So an address to which the free cryptocurrency should be transferred. If you are already registered with Binance, for example, then you can select BAND and enter the deposit address. Simply go to Binance on Wallet >> Overview >> Enter BAND in the search >> select Deposit. Then you will be shown both the BAND address and the BAND memo. You both need them.
Here are the answers to Band Protocol (BAND):
1. Why is Band Protocol important for DeFi and smart contract use-cases?
A: It reliably connects smart contracts to any external data-source or API
2. What is an example of decentralized finance (DeFi) using Band Oracle?
A: All of the above.
3. What does Band Protocol offer in comparison to native blockchain-based oracle services?
A: Low cost, real-time data, support for any data type, customizability, scalability and cross-chain compatibility
4. How is the BandChain decentralized oracle network incentivized to fulfil oracle requests?
A: Validators and underlying stakers receive a data request fee and block reward
5. Why are validators who fulfil data requests on BandChain required to stake BAND?
A: Align economic incentives for validators…
6. What can BAND token holders do to help secure the network and earn a portion of data request fees?
A: Delegate or stake Band for choosen validators(s).
7. The BAND token is used to pay for transaction fees on BandChain , similarly to ETH on Ethereum. If there is a higher usage of Band oracles then …*
A: More fees are generated through the network, rewarding validators and stakers
Frequently asked Questions
Who can participate in CoinMarketCap Earn?
In principle, anyone can take part. Everyone can only participate once per campaign.
Users from the following countries are excluded from participation:
Belarus, Democratic Republic of the Congo, Cuba, Iraq, Iran, Mainland China, North Korea, Sudan, Syria, United States of America and their territories (American Samoa, Guam, the Northern Mariana Islands, Puerto Rico and the US Virgin Islands), Zimbabwe.
What do I need to participate in CoinMarketCap Earn?
You need a wallet where you want to get the free coins paid out. Binance is well suited for this, as Binance has most of the coins and wallets for it.
Which coins can I currently earn at CoinMarketCap Earn?
Currently only the Coin Band Protocol (BAND) is available for $ 10.
Will there be any more coins at CoinMarketCap Earn?
Yes. According to CoinMarketCap, BAND was only the first coin and more free coins will follow.
What happens after I answer the quiz?
You will receive the following email:
Your answers have been recorded.
We will inform you whether you have successfully completed the quiz after the end of the Band Protocol campaign on CoinMarketCap Earn.
Your CoinMarketCap Team
It then checked whether you entered the correct answers.
Where can I earn more free coins?
Why is there cryptocurrency for free at all?
Many cryptocurrency projects are quite unknown to begin with. This means that even useful and functioning projects are underused. To increase awareness, free coins are given out. This way, people get to know the coin and become aware of it.
Do you want to buy bitcoin? Here you can find the best exchanges and their fees.