Joe owns a coffee shop called ‘’Jay’s Cafe’’ with a large customer base of Gen Z who find his cafe cool and trendy. His favourite customer, Mark, is a sound engineer who visits the cafe five times a week.
One day, in the middle of a discussion about the latest trends in town, Joe admits to Mark that he has been trying to expand the cafe to include more vending machines. This move requires huge capital and his requests for a bank loan have been rejected due to insufficient collateral.
Mark laughs politely and asks Joe, ‘’why do you need a loan when you can easily make money from crypto?’’ This response startles Joe who is sceptical about cryptocurrencies due to his limited knowledge of the space.
Joe further reflects on the fact that one week ago, his friend informed him about a crypto dip and how investors lost money to the crypto crash.
Fueled by these concerns, he replies to Mark: “Why would I try crypto?”
Mark understands his concerns and introduces him to an app that allows users to learn about crypto. Apart from learning, Joe is also able to earn crypto by participating in quizzes and other learning activities.
In no time, Joe becomes knowledgeable about crypto and applies this information to secure a loan from a decentralized finance lending platform at no collateral and lower interest rates.
You can be like Joe by reading along as we explore this interesting concept called Learn-2-Earn (L2E).
What’s Learn-to-Earn (L2E)?
Think of Learn-to-Earn as a fun way of making crypto education less overwhelming and attractive for everyone. This concept was born out of a necessity to simplify crypto terminologies and attract more people to crypto.
L2E platforms break down crypto into accessible learning formats where you earn rewards in the form of tokens. This is the opposite of the traditional school system where you pay fees to gain knowledge.
How do they work?
L2E platforms work like traditional online learning projects where you register to access educational resources — both text and video — to expand your crypto knowledge.
Most L2E platforms divide their resources into different stages starting from easy to complex courses. Each stage ends with a quiz or assignment to test your knowledge of the course or material accessed.
When you successfully complete the test, you progress to the next level and get rewarded with tokens. Interestingly, L2E projects differ in the form of rewards offered — some offer popular tokens as a reward and others might provide airdrops for future projects.
Types of Learn-to-Earn platforms
L2E platforms are typically divided into exchange-backed L2E platforms and non-exchanged-backed platforms.
Exchange-backed L2E platforms are platforms backed by crypto exchanges.
Crypto exchanges, like Binance, Coinbase, FTX, are platforms that enable you to trade cryptocurrencies.
Since they are usually the first point of contact for people to own cryptocurrencies, they have dedicated online academies for educating newbies and young investors about crypto. To further entice new users, these academies provide tokenized incentives for learning that you can exchange for money through their exchange services.
Some popular exchange-backed L2E platforms include:
Coinbase is one of the biggest crypto exchanges in the world that focuses on driving cryptocurrency adoption globally.
With the Coinbase Learn-to-Earn program, you can watch animated videos or read articles to learn about crypto. Afterwards, you participate in quizzes to test if you were paying attention.
On completing the quiz, you receive crypto rewards deposited into your account which can be withdrawn to fiat. Simple and easy!
- You need to sign up to create an account on the platform.
- Next, you select which cryptocurrency you want to learn about.
- Then you access educational resources — video and text — about the chosen subject.
- Finally, you complete the module and take a quick quiz or assignment to assess your learning progress.
- After passing the test, you’ll receive roughly $3 to $6 in crypto in your Coinbase Earn account for each module.
Binance, another large crypto exchange, has a fantastic learn-and-earn crypto program. Like Coinbase, you earn crypto while learning different crypto concepts.
- The Binance Learn-and-Earn program is only available to new Binance users who sign up and verify their account within three days.
- To participate in Binance Learn, you must already have a Binance account, watch videos and take quizzes on what you learned.
- After winning your reward, you get a voucher for crypto tokens that you have to redeem yourself. However, this voucher is only valid for 14 days.
- You may also need to buy a given amount of crypto before being eligible for the learn-and-earn rewards.
- Other crypto campaigns require you to share a social media post instead of investing or trading a given volume.
Non-exchange learn-to-earn programs
While exchanged-backed L2E programs are primarily for marketing purposes, non-exchange-backed L2E platforms are strictly focused on providing an optimized learning experience for users. In most cases, you have to provide the address of your crypto wallets upon signing up. Once you complete a task, your rewards are then sent to that wallet address.
Some popular non-exchange-backed L2E platforms include:
This Is a unique crypto platform that allows you to learn about crypto in a fun and rewarding way. The newsletter you’re reading is one of a five-part-weekly educational series about crypto. Some episodes feature quizzes where you can test your knowledge of what you’ve learned.
One major selling point of Breach is that you can learn at your own pace and also interact with crypto-curious friends in an inclusive community.
Other features include:
- Interacting with other top crypto experts during AMAs (Ask me anything) sessions.
- Educative newsletters delivered every day straight into your inbox.
To join the Breach platform:
- Sign up.
- Refer your friends and family.
- Start learning and earning.
CoinMarketCap is the most popular website for tracking cryptocurrency prices. The learning program is quite similar to Coinbase. However, it stands out because you need a perfect 100% score on quizzes to earn crypto for free.
Some features include:
- Learning is on a first-come,first-served basis where rewards are issued to active users that regularly interact with content offered on the platform.
- L2E feature is limited to a few countries.
To learn on Coinmarketcap, you need to:
- Create a CoinMarketCap account.
- Visit the website and click on Learn to view videos.
- Complete the test after viewing the videos.
- Provide your wallet address.
Tips to note before and after joining a Learn-to-Earn platform
- Before joining any crypto learning platform, especially those not affiliated with any centralised exchange, diligently check for reviews, features and benefits. This information will enable you to pick a platform that will give you the best learning tools and rewards.
- Always look out for new announcements and updates. If necessary, turn on your notifications to remind you of new updates from your L2E platform. With that in place, you won’t miss any activity deadline.
- Do your own research before joining any L2E platform. Any platform that requests sensitive personal information — like your private keys — is most likely a scam.
Learn-to-Earn remains one of the best ways to know more about the world of cryptocurrency in a fun way. Like Joe, you too can join the crypto market and earn passive income by participating in quizzes and other fun learning activities. So be like Joe today because the more you learn, the more you earn.
We believe you learned from today’s newsletter how you can benefit from Learn-to-Earn programs and what to look out for when you join. If you have friends and family who are enthusiastic about crypto but do not know how to invest, share this newsletter and invite them to Breach’s website where they can learn as much as possible.
Finally, don’t forget to join the Breach community to learn more about crypto and its uses. Thanks for reading.