While there are many scams in the crypto space, there is also a significant amount of transformative work taking place. There are Stablecoins, such as the dollar-backed USDC or Cardano’s Djed, an overcollateralized algorithmic stablecoin. These offer easy and fast ways in and out of crypto and are used in payments and decentralized finance (DeFi). There is of course Bitcoin as a store of value, Ethereum which has often been dubbed the enterprise chain, and Cardano, a heavily researched blockchain that aims for financial inclusion of unbanked populations.
These are just a few examples of cryptocurrencies and the ecosystem that surrounds them. While flashy news headlines often focus on the negatives and scams, these use cases represent the truly exciting developments in the crypto world.
Introducing ‘Learn and Earn’
In light of this fundamental shift in the financial industry, Swyftx has recognized the need for an educational platform that focuses on the developments happening in the space. Zac Povolny, co-founder of the educational platform Investified, partnered with Swyftx for the inaugural course. He notes that despite numerous digital asset investment opportunities in the market, many lack the fundamental knowledge needed to make informed and sustainable investment decisions in this complex landscape.
With thousands of digital asset opportunities to invest in, it’s important to have the skillset and education to cut through and identify assets with real utility and staying power.
Zac Povolny, Co-founder of Investified
Swyftx, which has over 660,000 users according to its website, estimates that up to 80,000 Australians will participate. The first 4,000 people completing the inaugural course on fundamental analysis will each receive five Australian Dollars’ worth of Bitcoin, with a total of 100 Dollars to be earned over the next 12 months.
Fundamental Analysis and Technical Analysis
Fundamental analysis aims to provide a holistic view of a cryptocurrency’s potential for long-term success. Investors and those trading in cryptocurrencies look to fundamental analysis when making informed decisions for buying and selling cryptocurrencies based on anticipated growth and perceived value. It takes into consideration things like tokenomics, the team behind a project or blockchain, the white paper and roadmap, existing and announced partnerships, the use case, and other factors.
Fundamental analysis is distinctively different from technical analysis in that the former examines underlying factors and intrinsic values with long-term potential, while the latter relies on historic price and volume data to assist traders in making short- and medium-term predictions.
While Regulation Looms Education is Key
While some individuals use a combination of both, the cryptocurrency market remains highly volatile and is less regulated than traditional financial markets trading stocks, bonds, and other products. On Monday Australia’s Senate Economics Legislation Committee rejected a proposed bill that aimed to regulate crypto.
Swyftx platform ‘Learn and Earn’ is set to go live on Wednesday, September 6. Tom Matthews, head of corporate affairs at Swyftx, said in a statement the new platform will “better equip the public with knowledge until such a time the industry is fully regulated.” He added that it will help people gain a deeper understanding of the crypto landscape and its associated risks.
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