Binance’s website states that from March 25, this feature will be available to exchange customers who have passed the KYC (“Know Your Customer”) procedure. They will be able to read articles about cryptocurrencies, watch educational videos and take quizzes.
Depending on whether they successfully complete the course or complete the quiz, they may receive a certain amount of crypto assets as a reward. Rewards will be given to “students” who pass the quiz within two hours. The platform said in a statement that the number of crypto-assets is limited, and they will be distributed on a first-come, first-served basis.
“Cryptocurrencies are changing the world. You already know about GameFi, where people make money playing games. Now we’ve introduced EduFi, where people can earn by learning. We intend to give our users effective tools with which they can better understand how blockchain and cryptocurrencies work. As a result, people will be able to make more informed investment decisions”, said Binance CEO Changpeng Zhao.
Zhao said earlier that even billionaire Warren Buffett lacks the knowledge and skills to invest safely in crypto-assets. Binance Smart Chain (BSC) ecosystem coordinator Samy Karim also believes that improving user literacy about cryptocurrencies will keep them safe from mistaken transactions and hacks, as people will pay more attention to the security of their funds.
Other organizations are also talking about the need to study the digital asset industry. For example, last year the Ethereum Foundation announced the creation of a $1 million fund to support educational programs and developers.