British-founded fintech banking app Revolut is pushing its move into crypto further in Australia, with its new Learn & Earn educational courses incentivised with Polkadot’s DOT token. And it’s apparently already engaged more than 3,000 users.
It’s a “does what it says on the tin” kind of deal – learn about crypto and in so doing, earn crypto.
No, don’t give up your day job just yet, it’s small amounts of DOT per completed learning. But then again, if the next bull run is anything like the last two, or even more face-meltingly momentous, then taking part in this now could actually be more lucrative than at first glance.
But as well as that, Polkadot is one of the industry’s leading “multichain” blockchains, with one of the largest DeFi ecosystems, and is down 88% from its all-time high. Along with Ethereum, Solana, Cardano, Avalanche and a few others, it’s regarded as a top-tier “layer 1” project that could very well pick up steam again in a big way under more favourable market conditions.
Revolut is clearly keen to support the crypto/web3 economy and sees opportunity in the nascent industry. It says its Learn & Earn courses have been created to “help customers improve their knowledge of cryptocurrencies and related topics, including blockchains, and the most popular tokens and protocols”.
How much can I earn from this and what do I have to do?
Okay, enough waffle – we hear you. Here’s the bit you want to know.
The courses are available to Revolut customers, who can earn up to AUD $29 in Polkadot (DOT) tokens by taking these short and simple courses and passing a final quiz.
Beyond improving crypto knowledge among the Aussie public, the courses’ aim is to also encourage and enhance financial literacy. And the courses are twofold.
Crypto Basics might be a good one to pay attention to if you’re looking for a swift answer to the annoying: “So, what the hell IS blockchain, anyway?” question you probably never get at cool parties you never go to. It seeks to educate on the differences between cryptocurrencies and fiat money, the meaning of blockchain, decentralised systems, and also touches on cryptography and crypto risks.
Sheesh, it sounds like you’ll be earning every cent of that $29 worth of DOT. But it also sounds well worth the time, too.
The follow-up course is based on Polkadot’s multichain network, and how it unites blockchains into web3, which is the term used for the next-gen, decentralised internet.
According to info passed onto us here at Coinhead, the course will use visual materials including interactive cards and videos to share key insights about the DOT token, as well as Polkadot’s use cases, governance system, and the Relay Chain – “the central blockchain used by the Polkadot network that allows specialised and public blockchains to connect in a unified network”.
We couldn’t have described that much better ourselves. Although we did have a good try when we looked into the network in detail late last year as it was preparing to launch its parachain auctions.
‘A huge appetite for crypto’
Revolut offers a wide range of financial products and services through its financial superapp, and, according to the Revolut team, crypto is an increasingly popular feature.
Want some quotes that reflect that? You’re getting them anyway. Emil Urmanshin, Crypto General Manager at Revolut, said: “There’s a huge appetite from our customers to learn more about cryptocurrencies,” adding:
“Learn & Earn will help them better understand the trends, risks and potential opportunities associated with crypto. Our collaboration with the Web3 Foundation on Polkadot, one of the most popular blockchain networks, will help customers become more familiar with crypto concepts.”
Matt Baxby, CEO of Revolut Australia, also chimed in, noting that the new feature reaffirms the fintech’s commitment to help educate customers “on both the risks and potential of cryptocurrency and blockchain technology”.
There are several ways to buy and sell crypto on Revolut, including setting up stop and limit orders, and a recurring buy feature which is useful for dollar-cost averaging purposes. Customers can also roundup any spare change in a crypto of their choice, of which there are now more than 30 available on the platform.
At the time of writing, according to Revolut, more than 3,000 users have already engaged with Learn & Earn since it launched about a week ago, with more than 25,000 lessons completed.
Revolut, which has also seen an 11% spike in its Australian crypto users, plans to add more courses to Learn and Earn this year.