Swyftx, an Australian crypto exchange, is introducing “Earn and Learn” crypto education platform on September 6 and will reward its users for completing courses about various crypto scams.
The goal of Swyftx is to provide the public necessary knowledge about cryptocurrency until the system becomes fully regulated.
Mathews stated that the platform would help users identify various scams like fake tokens, misleading social media schemes, and pump-and-dump schemes to keep them safe from financial fraud.
Tom Mathews, Swyftx’s head of corporate affairs, said: “Cryptocurrency scams exist but there’s frustration within the industry around how often this term is bandied about when what people are actually talking about are traditional scams, which happen to involve digital assets.”
The exchange claims to have 660,000 customers, stating that people wanted to learn more about crypto education during the bear market.
They are offering a reward of five Australian dollars, about ($3.20) in Bitcoin, to the first 4,000 people who complete the first course on fundamental analysis. Each participant can earn up to 100 dollars ($64.30) in total, in rewards over the year. The firm is expecting 80,000 Australians to participate in this program.
Mathews stated that the increased interest in education is mainly because many people in Australia have started using cryptocurrencies on their own, without any official guidance or regulation.
Mathews added, “The demand for quality educational resources is close to exponential at the moment. The next market cycle will be driven by knowledge, not hype and people are now far more aware of the risks around token scams or failures in the wake of Terra/Luna.”
The co-founder of Australian Investor education and research platform Investified, Zac Povolny, a contributor to some of the courses, said: “With thousands of digital asset opportunities to invest in, it’s important to have the skillset and education to cut through and identify assets with real utility and staying power.”
Also Read: Australian Senate Sends Bragg’s Crypto Bill for Amendments
