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How to Buy or Transfer Crypto on Phemex Quiz Answers

Phemex is a cryptocurrency exchange where you can trade cryptocurrencies.

There are over 140 USDT-margined contract trading pairs and up to 100x leverage.

The platform utilizes Web3 technologies like Soulbound tokens and DAO governance.

You can also earn free crypto by doing the “Learn & Earn” quizzes.

Sign up for Phemex using this link or use “J76LS5” as the invitation code to earn free 2,550 Phemex tokens.

In this guide, you’ll learn how to buy or transfer crypto on Phemex quiz answers for “Learn & Earn” to earn $1.00 in USDT.

How to Buy or Transfer Crypto on Phemex Quiz Answers

Credit Cards

Question: Does Phemex offer any options to purchase crypto with credit cards?

Answer: Yes

Question: On the Buy Crypto page, what cryptocurrency is set by default?

Answer: BTC

Question: Which one of the following payment channels is NOT supported by Phemex?

Answer: CoolCrypto

OTC/Bank Transfer – Activate Account

Question: What does OTC stand for?

Answer: Over-the-counter

Question: What does our OTC service allow you to do?

Answer: Purchase crypto with US Dollar bank/wire transfer

Question: Which header option must you hover over to find our OTC trading page?

Answer: Buy Crypto

Question: Can you use our OTC services without activating your account first?

Answer: No

Question: During the activation process, individuals must select the option labeled:

Answer: Individual

OTC/Bank Transfer – Deposit Money

Question: Once your OTC account is enabled, you will see a ___ ___ ___ on the OTC trading page.

Answer: USD Balance Module

Question: With your OTC trading account activated, the next step is to:

Answer: Deposit

Question: Look at the deposit instruction page below and type in the correct reference code that would need to be added to your transfer as a note. ___


Question: Once your deposit is successful, you will see your fiat balance on the:

Answer: OTC Trading Page

OTC/Bank Transfer – Purchase Crypto

Question: With your OTC account enabled and a fiat balance available, you’re ready to:

Answer: Purchase Some Crypto

Question: What is the minimum amount of USD worth of any crypto that you can buy?

Answer: $1

Question: Is it possible for the quoted exchange rate to refresh and change your order details?

Answer: Yes.

OTC/Bank Transfer – Transfer Existing Crypto

Question: If you wanted to transfer crypto to your Phemex wallet, which menu option do you need to hover your mouse over?

Answer: Transfer

Question: Under the Transfer drop-down menu, which option will help you transfer crypto to your Phemex Wallet?

Answer: Withdraw to my exchange wallet

Question: Will the Withdraw button be enabled if you have not entered an amount to withdraw?

Answer: NO

Question: Under what section can pending withdrawals be viewed?

Answer: History

Further reading

How to Spot Trade on Phemex Quiz Answers

5+ Phemex Invitation Codes

Bake DeFiChain Quiz Answers

About the author

Lim How Wei

Lim How Wei is the founder of followchain.org, with 8+ years of experience in Social Media Marketing and 4+ years of experience as an active investor in stocks and cryptocurrencies. He has researched, tested, and written thousands of articles ranging from social media platforms to messaging apps.

Lim has been quoted and referenced by major publications and media companies like WikiHow, Fast Company, HuffPost, Vice, New York Post, The Conversation, and many others. One of his articles about the gig economy was quoted by Joe Rogan who hosts The Joe Rogan Experience (arguably the most popular podcast in the world), in the This Past Weekend podcast by Theo Von.

In his free time, Lim plays multiple games like Genshin Impact, League of Legends, Counter-Strike, Hearthstone, RuneScape, and many others. He creates guides, walkthroughs, solutions, and more on games that he plays to help other players with their progression.