CEX.IO Quiz: What is Wrapped Bitcoin (WBTC)? I Use BTC in DeFi without selling

Looking for today’s CEX.IO Power Tap Daily Quiz 16 July 2025? Get answers of Today’s Quiz: “What is Wrapped Bitcoin (WBTC)? I Use BTC in DeFi without sellingWhat is Wrapped Bitcoin (WBTC)? I Use BTC in DeFi without selling” with all previous day. Discover it and claim your CEX.IO Power Tap Daily Quiz with QuikNotes.

About CEX.IO Power Tap Daily Quiz:

The CEX.IO Power Tap is the feature of the CEX.IO platform that allows a user to take part in daily quizzes with rewards as a prize. In the quiz, participants answer questions about cryptocurrencies, blockchain, and sometimes finance in general. The right answers for the participant are rewarded: cryptocurrency, points, and other platform-specific incentives that give users an incentive to keep learning and engage with the platform.

Here Are CEX.IO Power Tap Daily Quiz 16 July 2025:

Task: What is Wrapped Bitcoin (WBTC)? I Use BTC in DeFi without selling

1. Why is WBTC described as a “superpower” for your Bitcoin?
   ✅ It gives BTC access to DeFi tools
2. What backs each unit of WBTC?
   ✅ Real Bitcoin held by a custodian
3. What kind of crypto tool is WBTC considered?
   ✅ A bridge between blockchains
4. How is the backing of WBTC made transparent?
   ✅ Reserves are publicly verifiable on-chain
5. Why was WBTC created?
   ✅ To let Bitcoin be used in Ethereum-based DeFi applications
6. What is one benefit of using WBTC?
   ✅ You don’t have to sell your Bitcoin to access DeFi
7. What should users remember before diving into DeFi with WBTC?
   ✅ DeFi carries risks and needs research
8. What powers the functionality of WBTC in DeFi?
   ✅ Ethereum smart contracts
9. What is Wrapped Bitcoin (WBTC)?
   ✅ A tokenized version of Bitcoin that runs on the Ethereum blockchain
10. What happens when you wrap your Bitcoin?
    ✅ You exchange it for an equal amount of WBTC
11. What can you do with WBTC?
    ✅ Lend, borrow, and trade in DeFi 
12. Why can’t native Bitcoin be used directly in Ethereum DeFi?
    ✅ Bitcoin doesn’t support smart contracts
13. Report if any wrong Answer on: Telegram

Get Daily Updates On Telegram – Join Now 👈

Want to Join Game? Click Here

How to Access the Quiz: Quick Entry Points on CEX.IO:

1. Objectives and Purpose

• It aims to reward its user base for daily engagement in various activities on CEX.IO, thereby expanding one’s knowledge of crypto and finances.
• The quiz is a fun, gamified way to learn about blockchain technology, cryptocurrency trends, financial markets, and the features of the platform.

2. Quiz Format

• Daily Questions: A new quiz question is posted on the platform each day, usually on topics relevant to cryptocurrency, blockchain principles, or current trends in the financial ecosystem.
• Single or Multiple Choice: Questions may vary between single and multiple choice so that is fair and inclusive to either a beginner and an advanced crypto user generally.
• Timed Response: Users are forced to respond within some time bracket so that the entire thing does not drag out slowly with time.

3. Forms of Incentives

• Cryptocurrency Rewards: Such users who accurately answer their quiz may be rewarded in forms of small amounts of some cryptos like Bitcoins or Ethereums among many others.
• Incentive may be received in the form of points which can be used on the CEX.IO platform. These will give discounts on fees or exchange rates and gain access to more advanced features.

4. Daily Quiz

• Reward from Regular Participation: Regular participation within the daily quiz shall provide loyalty rewards in the form of higher account levels or chances to participate in promotions carried out on the platform.
• Exclusive Content Access: Some questions may reward with access to exclusive articles, reports, or crypto insights helpful for both investment and trading strategies.

5. Benefits of engagement and learning

• Users are pushed to be informed about recent trends in cryptocurrencies, because some questions reflect current events, new coins, or updates within the CEX.IO ecosystem.
• It is also an educational tool that provides a user with getting more insights into the crypto concepts that could be precious in the decision-making process when it comes to trading or investing.
• First-time users can become well versed in the platform features through participating in the quiz, hence lowering the conventional learning curve that typically applies when it comes to advanced financial systems.

Therefore, CEX.IO Power Tap Daily Quiz is a helpful utility for users who are both new and experienced cryptocurrency fans, adding value through rewards, education, and engagement on the CEX.IO platform.

Stay Tunned

Keep you up with the latest in gaming, entertainment, general news, puzzles, technology, and more. Our detailed roundup of recent articles covers a broad spectrum of subjects, providing you with both information and entertainment on diverse topics. Stay informed and engaged with a variety of interests through our comprehensive updates.