Swyftx Launches "Earn and Learn" Crypto Education Platform to Combat Scams and Reward Users
Summary:
Australian crypto exchange Swyftx is launching an "Earn and Learn" crypto education platform aimed at rewarding users for completing courses on various crypto scams. The platform intends to equip the public with knowledge and better understanding of the crypto market to reduce susceptibility to scams. Swyftx anticipates up to 80,000 Australians to participate, with rewards available to each participant. The initiative follows similar educational platforms launched by major exchanges like Coinbase and Binance.
Australian cryptocurrency exchange Swyftx is set to launch a new crypto education platform called "Earn and Learn." This platform aims to reward users for completing courses that cover a variety of cryptocurrency scams. The launch of the educational platform comes at a time when crypto-related scams are receiving increased attention in Australia. Swyftx's Head of Corporate Affairs, Tom Matthews, stated that the goal is to provide the public with the necessary knowledge until the industry is fully regulated, as well as helping individuals understand the crypto market better and reduce vulnerability to scam coins. The platform will assist users in identifying different scams, such as those involving fraudulent tokens, social media scams, and pump-and-dump schemes. Matthews emphasized that while cryptocurrency scams do exist, there is frustration within the industry regarding the overuse of the term, as many of these scams are actually traditional scams that involve digital assets. The courses will provide users with a checklist to consider when assessing tokens, including factors such as the background of founding teams, tokenomics, project weaknesses, VC backing, financials, and project goals. Swyftx, which claims to have 660,000 customers, noticed a surge in demand for crypto education during the bear market. The first 4,000 individuals who successfully complete the initial course on fundamental analysis will receive $3.20 in BTC, with a total of $64.30 in rewards available to each participant over the next 12 months. The exchange anticipates the participation of up to 80,000 Australians. Matthews attributed the increased demand for education to the grassroots crypto adoption in Australia, stating that the next market cycle will be driven by knowledge rather than hype. Zac Povolny, co-founder of Australian investor education and research platform Investified, emphasized the importance of having the necessary skills and education to identify assets with real utility and staying power out of the multitude of digital asset opportunities available. Swyftx's move follows in the footsteps of major exchanges like Coinbase and Binance, which have also launched educational platforms offering crypto incentives.
Published At
9/5/2023 5:48:01 AM
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