Learn and Earn, also called learn-to-earn, is a program designed to help crypto newbies fast-track their familiarity with the crypto industry. It is an educational scheme where users give their time and attention to receive crypto rewards.
This article is prepared to provide extensive details about the Learn and Earn concept. Here is a quick outline to aid your navigation throughout the course:
- What is Learn and Earn in Crypto?
- How Does Learn and Earn in Crypto Work?
- Where Can I Learn to Earn in Crypto?
- Learn to Earn in Crypto Apps
- Risks of Learning to Earn in Crypto
What is Learn and Earn in Crypto?
Learn to Earn programs are mini-courses created to help new crypto users easily learn about cryptocurrencies. Participants may receive a small amount in cryptocurrencies as a reward for taking these courses. The platform usually pays the reward in the cryptocurrency you learn about.
Although payouts from crypto learn-to-earn programs are not enough to make you rich, they are often a great entry point for crypto newbies. Learners get conversant with several terms used in the crypto industry and sometimes even use cryptocurrencies for the first time.
You do not need prior knowledge of cryptocurrencies or a special skill. Additionally, most popular learn-to-earn programs do not mandate users to have a specific wallet balance or make an initial deposit to participate.
The primary things needed are time, attention, and internet access.
How Does Learn and Earn in Crypto Work?
There are two or three parties involved in a learn-and-earn program. This includes crypto users, crypto exchange hosting learning activities, and crypto projects whose tokens are being issued to the learners.
The crypto exchange hosting the program will release videos, articles, or both, explaining certain cryptocurrencies and related terms. When users consume these materials, they will have to correctly answer the following quiz questions. This qualifies them to receive the crypto reward.
Several hosting platforms release their learning resources in courses or lessons. Each lesson/course has a crypto reward attached. Note that a user can earn only once from a lesson, even if they take that lesson and its quiz multiple times.
A user qualifies to participate in the learn-to-earn campaign by having a valid account with the hosting platform. Centralized exchanges like Binance and Coinbase mandate users to complete their Know-Your-Customer (KYC) process to become eligible.
The learning-to-earn scheme is a win-win system because all parties benefit from the arrangement.
Crypto exchanges that host the program generate revenue as they attract many users to their platform. Examples of these crypto exchanges are Binance, Coinbase, KuCoin, etc. These exchanges are not the only platforms that can host a learn-to-earn program.
Other platforms like CoinMarketCap and BitDegree host these programs too. Even projects in the decentralized finance (DeFi) sector, like Cake DeFi, offer a learn-and-earn campaign.
Meanwhile, crypto projects that offer a learn-and-earn program use the opportunity to increase the number of investors holding their tokens. The project also benefits from marketing as new users become familiar with its offerings.
Where Can I Learn to Earn in Crypto?
So far, we have been able to answer the questions: “What is learn and earn in crypto?” and “How does learn to earn in crypto work?” The following paragraphs reveal where you can start learning to earn cryptocurrencies.
You can apply for these courses on any platform hosting them. Examples of such platforms include crypto exchanges like Binance, KuCoin, Phemex, and Coinbase. Platforms like CoinMarketCap and BitDegree also feature the learn-to-earn program.
Some of these platforms run the learn-to-earn program during a designated period of the year. When you apply to any of them, note whether the feature to earn free cryptocurrency is active.
Learn and Earn in Crypto Apps
We will now highlight five platforms offering the learn-to-earn program. They are:
- Cake DeFi
Let’s take a closer look at each platform.
Binance is the leading cryptocurrency exchange by trading volume. It has a user base of around 30 million.
Among the several services featured on the platform is the Binance Academy. This is an educational program where anyone can apply to learn about cryptocurrencies, take quizzes, and earn crypto rewards.
A list of courses is featured on its landing page. The user has to select a course and commence learning. After the learning phase, the user must pass a quiz. Learners who pass the quiz receive a token voucher. This voucher is redeemable 14 days after issuance.
Binance Academy is open to all eligible users on its platform. Eligibility is gained when a user registers an account on Binance and completes its Know-Your-Customer (KYC) process. No initial deposit is required from a user who wants to apply for the learn-to-earn program.
In cases where a user fails to adhere to the terms and conditions outlined by Binance, the exchange may deduct crypto rewards from the user’s account.
Coinbase is an American-based crypto exchange. Data shows that it commands the second-largest audience among several centralized exchanges. The exchange has a suite of courses; some have rewards attached, and others do not. Here, we will focus on the ones with rewards attached.
Coinbase’s learn and earn program features several crypto-related topics and videos, which the platform updates regularly. The earning opportunity varies from time to time. This makes it important for a user to confirm when the rewards feature is active to gain from the program.
When a user learns about a cryptocurrency, the user gets rewarded a small portion of that cryptocurrency. The rewards vary from lesson to lesson, as the prices of the cryptocurrencies differ.
Like Binance, only users who pass the KYC test can participate in the learn-to-earn program.
CoinMarketCap is a data-tracking website for crypto assets. It also details cryptocurrencies such as market capitalization, trading volume, etc.
The platform’s learning-to-earn scheme is called CoinMarketCap Earn. A user becomes eligible to participate in the program through an account with CoinMarketCap. In cases where the token reward is stored on a centralized exchange like Binance, the user must also have a verified account.
The learning materials available on CoinMarketCap are mostly videos. A user needs to watch them and undergo the quiz test to evaluate their understanding of the topic. After that, the user can qualify to receive the reward.
The earnings feature of the CoinMarketCap Earn program is seasonal. For this reason, a user seeking to earn must check if the campaign is active. Once the campaign is over, the tokens get distributed to eligible users. The platform uses the “first come, first served” procedure. This means that users get rewarded based on the time they earned the reward.
Only residents of 17 countries mentioned on the platform are restricted from participating in its crypto rewards campaign.
BitDegree is an educational platform where users can acquire knowledge on several crypto-related topics. The platform features paid and free courses. It also serves as a price-tracking website.
Its Learn to Earn project is called Learndrops. It follows the same model as other learn-to-earn platforms where users need to take some lessons, undergo a quiz, and get rewarded. Learning occurs through videos.
A learner gets a reward based on the topic discussed. For example, the Learndrop exercise for Unstoppable Domains, a blockchain-based domain creator, rewards users with a non-fungible token (NFT) domain.
Users seeking to earn need to check if the rewards section of each Learndrop is still active before embarking on them. This is because Learndrops are not available all through the year.
Cake DeFi is a liquidity pool provider. For beginners, a liquidity pool is a container that holds accumulated digital assets for easy trading on a decentralized exchange. Cake DeFi also performs staking of cryptocurrencies to generate yield for investors.
The Learn and Earn program is another service available on Cake DeFi. The program features three courses that will broaden a new user’s knowledge of Cake DeFi, Bitcoin, and Ethereum. Each of the three courses has five lessons, each giving $0.2. At the end of the entire program, a user gets $3.
Anyone can take the lessons on the platform. However, only users who complete their KYC verification within the designated period will be eligible to earn $3 tied to the three courses. The $3 reward gets released to the user after a month of freeze.
Risks of Learning to Earn in Crypto
Volatility is a common feature of cryptocurrencies. This means that the prices of crypto assets are subjected to rapid increases or decreases at any time. The value can even go down to zero in the worst-case scenario.
For this primary reason, users can lose the value of crypto rewards earned from these courses if the underlying cryptocurrency’s value falls in price. Users also risk not being able to access rewards if they fail to pass the platform’s KYC process.
This article answered the question: “How does learning and earning in crypto work?” It revealed five popular learn-to-earn platforms which you can profit from. Take calculated risks as you learn about the crypto industry and earn from doing so.
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