Binance to promote crypto and blockchain awareness among Indian investors

Crypto exchange Binance announced the parallel launch of three major educational initiatives to quickly educate Indian investors and students about cryptocurrency and the blockchain ecosystem.

While acknowledging the importance of investor awareness of crypto and blockchain, Binance stressed that Indian regulators and policymakers cite the lack of education as a problem area currently hampering widespread crypto adoption.

One of the three education initiatives launched by Binance, primarily targeting the student demographics in India, includes the initiation of the Blockchain for Good Ideathon, a platform for college students to find solutions to make crypto more accessible and to make it more inclusive.

Binance has also partnered with India-based crypto influencers and educators including Neha Nagar, Aditya Saini and Kashif Raza to host a free webinar titled “Crypto for All” on May 1st. According to the official announcement, the crypto influencers will focus on teaching the basic concepts of blockchain and crypto while demystifying myths surrounding crypto trading:

“Besides providing certificates issued by Binance NFT via the blockchain to all participants, selected winners will receive great freebies in Bitcoin and Binance Coin (BNB).”

Speaking to Cointelegraph about the Indian landscape, Bitinning founder Kashif Raza revealed that “the biggest hurdle in the current crypto education system is that there aren’t enough platforms that offer education in a simplified way.” He also pointed out the need to introduce educational information in different languages ​​to cater to the very diverse Indian population.

Binance’s third initiative is the newly launched Learn and Earn program, which allows users to earn crypto while learning about the crypto and blockchain ecosystem. As a long-time crypto educator in India, Raza highlighted Binance Academy’s role in staying current with the latest educational information.

Leon Foong, Head of APAC at Binance, underscored the untapped opportunity in the education of young people in India:

“We hope to provide the right incentives for users to do more thorough research and make more informed investment decisions.”

The crypto exchange has also partnered with one of India’s leading universities, Indian Institute of Technology Delhi (IIT – D), as the title sponsor for their cultural festival Rendezvous, to showcase use cases including NFT tickets and certificates, fan tokens and proof of attendance record (POAP).

Finally, Raza recommended other Indians to educate themselves about the crypto ecosystem before making any investments:

“Learn first, then think about earning. Web3 > crypto and you should understand the underlying technology and also try to make a career in it.”

Related: Coinbase invests in Indian crypto and Web3 amid clarity of tax rules

India’s decision to levy heavy taxes on crypto investors, while counterproductive on some levels, has brought some clarity to the government’s stance on the burgeoning ecosystem.

Earlier in April, Coinbase Ventures, an investment arm of American crypto exchange Coinbase, held an in-person pitching event in Bangalore, India, planning to invest $1 million in various Indian cryptocurrency and Web3 initiatives.

In partnership with Buidlers Tribe, Coinbase CEO Brian Armstrong announced that the venture firm aims to harness India’s software talent and help accelerate India’s economic and financial inclusion goals. Speaking to Cointelegraph about the impact of the new tax law on attracting foreign investment, Buidler’s Tribe co-founder Pareen Lathia explained:

“The tax law is only a positive step. This is a paradigm shift and regulations will catch up.”