Australian crypto exchange Swyftx introduces an educational platform to counter the rising concern over crypto-related scams. A move both empowering and rewarding for its users.
Addressing the Rise in Crypto Scams
In an effort to bridge the information gap about cryptocurrency scams, Swyftx, a leading Australian crypto exchange, is rolling out an “Earn and Learn” initiative. Scheduled to launch on September 6, this program coincides with an increased scrutiny over digital asset fraud in the country.
Empowering the Public with Knowledge
Tom Matthews, Swyftx’s head of corporate affairs, emphasized the intent to arm the masses with critical knowledge before the industry reaches a point of comprehensive regulation. He added that such initiatives bolster one’s understanding of the crypto realm and minimizes their chances of falling for deceitful coins.
Shedding light on the platform’s offerings, Matthews revealed it would guide users in spotting varied scams encompassing dubious tokens, pig butchering scams, pump-and-dump tactics, and other online deceits.
A Comprehensive Checklist for Token Evaluation
The platform, according to Matthews, won’t just stop at identifying scams. It plans to equip users with an essential checklist to evaluate tokens, such as assessing the founding teams, tokenomics, project viability, and more.
Having observed a significant uptick in the demand for crypto literacy during bearish phases, Swyftx is offering incentives. The first 4,000 who finish the inaugural course on fundamental analysis are set to earn AUD 5 in Bitcoin, with potential rewards up to AUD 100 over a year.
Global Trends in Crypto Education
Worldwide, renowned exchanges like Coinbase and Binance have pioneered similar endeavors. Coinbase Earn, which debuted in late 2018, rewarded users with select altcoins for course completion, though the slots were quickly filled up.