Good day everyone,
I hope you are all well and having excellent day, welcome to CryptoGod-1’s blog on all things crypto. In this post I will be looking at the cryptocurrency exchange in Australia known as Swyftx, which is doing "Learn & Earn" based around educating Australians on crypto market conditions and crypto safety against scam coins.
Swyftx
An Australian cryptocurrency exchange known as Swyftx has launched a ‘Learn and Earn’ education platform which has the main aim of making Aussies more knowledgeable until such time as the industry is fully registered. The head of corporate affairs at Swyftx, Tom Matthews, noted that there has been a surge in demand for educational resources on blockchain tech over the last year especially during the bear market. He went on to note:
“A lot of Aussies see digital assets as the future of online finance and they understand the significant opportunities that the technology presents in areas like tokenization and payments. But the novelty and complexity of the crypto market also creates risk.”
The new educational program will pay Australians to better understand the crypto market and recognize scam coins, with the first course set to launch on the 6th of September 2023. The course will be available for all who make use of the exchange, and in a company released email they noted that the first 4000 Aussies who successfully complete the first course “will receive a $5 payment of BTC by way of recognition.” Tom went on to add that the need for this education is very real, as millions of Australians have entered the digital assets market over the past year or two, and another 900k are expected to enter the space over the next 12 months. He went on to say:
“In total, AUD $100k in rewards are expected to be paid out over the next 12 months, with new courses added weekly/monthly on topics like long-term investment strategies and individual tokens.”
Co-founder of the education platform Investified, Zac Povolny, also noted that the vast majority may lack the fundamentals necessary to create a sustainable project, meaning there are thousands of digital asset opportunities to invest in but not enough education to help ensure any investments made are knowledgeable one. The term Do your Own Research has long been branded about, but DYOR is not always as easy as it sounds. Povolny went on to say:
“It's important to have the skillset and education to cut through and identify assets with real utility and staying power.”
In terms of helping the broader public to gain a better understanding on scams, Tom Matthews noted that Swyftx has another course specifically on scams and that it is expected to come out over the next few months. He noted that course will focus on education around identifying traditional scams, scammers and how they interact.
With the first course due to start on Wednesday, it will have modules including the fundamental analysis of digital assets, understanding the project’s product and use case, and evaluating a project’s tokenomics and financials. These basics should help to give users a wider knowledge and understanding of the overall digital asset market.
According to the Australian Competition and Consumer Commission (ACCC), crypto scams in Australia have increased by more than 162% which has resulted in the loss of nearly $150 million. According to Tom Matthew's it is part of the industry’s role in providing crypto users with serious educational resources to better understand the market.
“This includes the ability to better differentiate projects that could make a genuine difference to our society from those that won’t or, worst case scenario, could be scam tokens.”
Have a great day.
Peace. CryptoGod-1.
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