How Learn & Earn Programs Are Revolutionizing Education In The Blockchain Ecosystem
Earning within the crypto ecosystem has evolved over the years from mining and staking cryptocurrencies to play-to-earn and learn-and-earn programs. The latter has opened new opportunities for people to interact and learn about blockchain technology to earn free tokens. It is quite simple. Learn and Earn programs allow users to learn about blockchain technology and cryptocurrencies by watching videos or reading text, then completing a quiz and getting crypto in their wallet.
The education sphere in crypto and blockchain is growing to astronomical levels. The technology is grabbing the attention of the younger generations, as thousands of crypto YouTube channels, podcasts, substack, Twitter profiles and more social communities pop up on our time feeds every day. Nonetheless, learning about crypto could be difficult to follow through with and could be even harder to complete the lessons. By adding rewards, learners are more incentivized to complete the lesson and gain knowledge on the specific topic or project.
Additionally, many people started exploring blockchain through self-learning. If you want to learn about cryptocurrency, you can find reputable online resources created by experts. They provide detailed insights, analysis, and explanations about complex cryptocurrency concepts. That way, you gain a deeper understanding of how cryptocurrencies work, their underlying technologies, and their potential impact on various industries.
But when did Learn and Earn programs start? Learn more below.
The explosion of Learn & Earn programs
These learn-and-earn education programs became popular as a result of centralized exchanges launching them to their users and giving out millions of dollars in cryptocurrency. The most popular is the Coinbase Learn program (previously Coinbase Earn), introduced in 2018, which allowed users from over 100 countries to learn about crypto, disbursing over 100+ million USD in its five years of existence.
Over the years, several Learn and Earn programs have been launched such as Binance Learn, Crypto.com Learn and Earn, Phemex Learn, Coinmarketcap Earn, and Coingecko Earn. Other platforms that have launched these programs include BitDegree, a crypto-focused learning protocol rewarding users to learn, Sweatcoin and NEAR Protocol, in collaboration to launch a stablecoin education program, and CakeDeFi, a decentralized finance and investment protocol.
Typically, most learn-and-earn programs will offer a task to be completed within 15-30 minutes but the amounts differ from platform to platform. However, on average the user can expect to get anywhere between $3 to $20 upon completing all tasks.
But why would projects and exchanges fork out millions of dollars to pay you to learn? These programs offer a win-win strategy for both the crypto learner and the companies offering them. The user learns new concepts in the field and earns valuable tokens in return. The centralized exchanges are able to onboard more users to their platform while crypto projects promote their projects and increase their adoption rates.
The Innovators in the Crypto Education Ecosystem
Basically, Learn and Earn programs can be categorized into three: Learn & Earn by centralized exchanges, programs offered by blockchain projects or their partners, and education-focused Learn &Earn programs.
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Education-Focused Programs
BitDegree is an online course-providing platform focused on teaching people digital computing skills such as web development, data mining, database manipulation, creating games, blockchain development, and more. The heavily blockchain-focused education platform also partners with crypto projects to reward users for learning about their projects.
Via the BitDegree Learndrops program, users on the platform get free crypto rewards by learning about fascinating crypto projects in a fun, beneficial way. The rewards vary from crypto tokens to non-fungible tokens (NFTs) and trading fee discounts to discounts on hardware wallets. Currently, BitDegree is running Learn & Earn programs for the following projects:
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Lighthouse: By learning about this metaverse navigation tool that allows you to interact with different virtual worlds, users can earn 2 FREE Avatar NFTs and win a free ticket to Spatial Metaverse Space.
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FIO Protocol: Users can also earn ~$2 in free crypto domains by learning about the decentralized identity protocol.
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Learn Ledger: Ledger is one of the leading hardware crypto wallets in the market today. On BitDegree, users can learn about the hardware wallet and earn up to 10% OFF on the Ledger Family Pack.
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Learn PrimeXBT: This centralized exchange has partnered with BitDegree to educate users about crypto trading and other digital assets. Once you complete the lesson, you can earn up to a 7% deposit bonus on the exchange.
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Project-based programs
Project-based learn and earn programs involve crypto projects launching education programs that range from general knowledge of blockchain to learning their ecosystems. To participate, users need to provide addresses of their wallets or create accounts on these projects or their partners. Recently, Sweatcoin, a walk-to-earn platform that rewards users with crypto for walking, partnered with NEAR Protocol to launch a learn-and-earn program that rewarded 100,000 USDT to users for learning about stablecoins.
The programs saw over 245,000 Sweatcoin users start the lesson, with 130,068 of them completing the lesson and the quizzes. The program rewarded 100,000 users with 1 USDT each for completing the course and passing the quiz within 6 attempts in the first 24 hours of the program.
CakeDeFi, a decentralized investment protocol, is also running its education program, allowing anyone (CakeDeFi user or not) to earn a few dollars by learning about crypto. Simply, users need to connect their wallets to the platform and start learning.
Currently, users can earn crypto on CakeDeFi by learning about DeFi Chain, a native decentralized finance platform enabled on Bitcoin (pays out $1 in DFI tokens); Bitcoin, the world’s leading crypto, and earn $1 in BTC-DFI tokens; and Ethereum to earn $1 in ETH-DFI tokens.
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Centralized Exchanges Learn and Earn Programs
As alluded to, centralized exchanges paved the way for extensive learning and earning programs in the blockchain space. Coinbase Learn program set the stage to incentivize users to learn about several protocols in the space.
As of June 2023, users can earn from Coinbase Learn program by learning about The Graph (GRT), a protocol for indexing and querying blockchain data, and earn up to $4 in GRT tokens; AMP, an instant settlement assurance platform and earn $3 in AMP tokens; SHPING, a shopping companion app built on blockchain technology to earn $15 in SHPING tokens; Access Protocol, a blockchain-based ecosystem for content creators and their fans to earn $3 in $ACS; and NEAR Protocol, which pays out $3 in NEAR once you finish the course.
Phemex Exchange also offers a Learn and Earn program offering an introductory course to crypto, including how to buy, how to spot trade, intro to crypto derivatives, how to trade perpetual contracts, and its earn & launchpad platform. Once the user completes the course, they will earn 4.4 USDT, paid to their Phemex wallet.
Final words
One way to help people learn about cryptocurrency is through learn-and-earn programs. These programs offer users small amounts of cryptocurrency in exchange for watching educational videos or completing quizzes. This is a great way to learn about the basics of cryptocurrency without any risk.
Learn and earn programs help address the education gap in the blockchain space, allowing anyone to learn about crypto and practically use them without any investment. These programs help to boost Web3 and blockchain to the masses. With the potential that crypto has shown in revolutionizing many industries, it is important that everyone has the opportunity to learn about it and participate in the ecosystem.
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