The crypto world has had a stellar year in 2021, with popular crypto-assets reaching new highs, institutional investors going nuts, and governments becoming more receptive to specific cryptos. However, if you are yet to catch up on the crypto bandwagon and are still wondering: how to learn about crypto, we have a piece of even better news for you!
What if we told you that you can earn crypto while learning about them from popular centralized exchanges? You heard it right! Here are some of the crypto learn and earn programs that you can use to earn.
Learn and Earn Crypto Programs: What are They?
The concept of a learn and earn program is pretty much what the name suggests. You must first watch videos or read articles, then take quizzes, and if you qualify, you will be rewarded with a set amount of crypto assets.
It's a win-win situation.
As a cryptocurrency user, you will learn new concepts as well as earn crypto while learning. And the crypto initiatives will use these to advertise their coins or tokens and reach out to a wider audience base.
1. Earn Crypto while Learning on Binance
Binance, as the world's largest crypto exchange, has a fantastic learn and earn crypto program. On Binance, you may earn cryptocurrency while learning, but there are certain limitations that vary from campaign to campaign.
- If you are new to Binance, you have to sign up and get your account verified within three days to be eligible for the Binance learn and earn program.
- Apart from watching videos, reading articles, and taking quizzes, you'll almost always have to carry out some transactions.
- Other learn and earn drives may have criteria such as sharing a post on your social media.
How to Learn about Crypto and Earn on Binance?
Look out for new campaigns on the Binance blog for monthly announcements.
"Learn and Earn" initiatives are frequently announced on Binance's blog. There you will find a complete explanation of the programs as well as information on how to apply for them.
2. Earn Crypto while Learning on Coinbase
Coinbase, one of the world's top crypto exchanges, has a fantastic learn and earn crypto program through which you may earn free crypto. Users have praised the learn and earn platform since it provides interesting and simple modules with a clear framework.
- You'll view a brief clip (or videos) on your selected cryptocurrency in each subject.
- Then you can take a quick quiz or assignment to evaluate your understanding.
- After passing the quiz, you'll receive roughly $3 to $6 in crypto in your Coinbase Earn account for each of these modules.
How to Learn about Crypto and Earn on Coinbase?
To participate, you must first create a Coinbase account, after which you can begin learning via watching clips and solving quizzes. For each quiz you pass, you'll receive cryptocurrency in your Coinbase account.
3. Earn Crypto while Learning on CoinMarketCap
CoinMarketCap is the most popular website for tracking cryptocurrency prices. Every day, millions of users visit it in search of a variety of popular and obscure currencies to see how they're growing in the market.
Some of the limitations you can face while learning to earn crypto on CoinMarketCap are:
- The program operates on a first-come, first-served basis. As a result, the candidates will only receive tokens until the pre-determined distribution amount is exhausted.
- Apart from solving the quiz, your course may have certain activities associated with it.
- CoinMarketCap only allows people from a few of the countries listed to participate.
How to Learn about Crypto and Earn on CoinMarketCap?
The procedure is really straightforward:
- Create a CoinMarketCap account
- Visit the website and click on [Learn] to view videos
- Complete the test after viewing the videos
- Provide your Binance wallet's address
- Coins will be added to your Binance wallet as you earn them
4. Earn Crypto while Learning on Cake DeFi
You'll finish the video to earn various cryptocurrencies, just like in the previous examples. There is now a single video available, about DeFiChain in exchange for $5 in the form of DFI tokens. They'll be, however, releasing two additional courses shortly that will allow customers to earn rewards in the form of both Bitcoin and Ethereum.
So keep an eye out for that!
5. Earn Crypto while Learning on KuCoin
KuCoin has a new learn and earn function as well. Each assignment is timed, so you browse an article or watch a video, a timer counts down for roughly 20-30 seconds, and you're paid with USDT tokens.
There are a few tokens on Kucoin that aren't on Binance. Their withdrawal costs are, however, on the higher end, and they don't always have ERC20 alternatives.
How to Learn about Crypto and Earn on KuCoin?
There are two additional tabs in the rewards hub:
- Deposit USDT to receive a welcome gift
- Earn bonuses when you hit certain thresholds for certain pairings of coins
Your rewards will be sent directly to your KuCoin wallet once you've completed the activities using your online browser or mobile application.
6. Earn Crypto while Learning on Phemex
Phemex provides a fantastic opportunity to earn crypto while learning about them in the form of small videos.
You can currently finish programs on fiat cash vs. cryptocurrencies, as well as a specific course on how to buy and transfer cryptocurrency on Phemex. For those who want a little more flexibility with their crypto investments, this is a terrific way to learn and profit.
How to Learn about Crypto and Earn on Phemex?
The program, however, works a little differently from the other popular programs. You'll be able to view videos, solve quizzes, and earn prizes. But instead of receiving a specific cryptocurrency, you'll receive up to $16 USD credited to your Phemex account, which you can use to invest in any cryptocurrency.
Bonus: Move-to-Earn Program
Another type of crypto learn and earn program is the move-to-earn. Some cryptocurrency projects would provide you rewards only for moving may not be as evident. Look at this illustration:
One of the original "move-to-earn" ventures is Stepn. It compensates you for taking actual, physical steps. But before you can start earning, you must first purchase a pair of virtual sneakers. There is an NFT used to symbolize footwear. The least expensive Stepn shoes were selling for over 13 Solana tokens, or over $650.
This is how the business is generating revenue while allowing you to move around. When its NFTs are sold or transferred, Stepn is paid a royalty. Additionally, it levies fees for a variety of other actions you may do using its app, such as “breeding” two sneakers NFTs to create a brand-new one.
After receiving your virtual sneakers, you may get tokens by going outside and engaging in real-world physical activity. According to the firm, its application had been installed 1 million times as of April 2022, and it had 200,000 daily users. There are a lot of individuals buying sneakers, which means the creators are receiving royalties. However, on the other hand, it could be be assisting individuals in inspiring themselves to work out.
Taxability of Learn and Earn Programs in the USA
Since learn and earn crypto programs are a relatively new concept, tax authorities all around the world have yet to issue guidance on them.
As of now, the Internal Revenue Service (IRS) has not issued any explicit guidance on the learn and earn crypto tax. However, they classify hard forks and airdrops as income and charge income tax on them. So it is quite likely that learning and earning cryptocurrency will be subjected to the same taxation system.
In the United States, there is no extra income allocation. Therefore you must disclose it while filing taxes, even if it is a tiny amount of extra income. You'll have to pay capital gains tax if you spend, sell, or swap bitcoin in the United States.
The Bottom Line
Here are a few pointers to help you make more money with Learn and Earn programs.
- Keep an eye out for announcements and associated areas of the exchanges or websites from time to time to ensure you don't miss any deadlines.
- Some websites or exchanges provide alerts when new Learn and Earn possibilities become available. Join their mailing list.
- Be wary of con artists or phony Learn and Earn projects. Do not put your faith in unknown projects or websites, and instead rely on reliable sources. Remember not to give out any secret keys or sensitive information to anyone else.
So there you have it, our roundup of how to earn crypto while learning. There is something for everyone, whether they are students, gamers, or professionals.
Disclaimer: This material has been prepared for informational purposes only, and is not intended to provide, tax, legal or financial advice. You should consult your own tax, legal, and accounting advisors before engaging in any transaction.