Binance Launches Academy, Takes on Role Educating Cryptocurrency Community
Binance does it, again. The 1-year old company has officially launched their Binance Academy Beta (v0.1) aimed to act as a home to “blockchain and cryptocurrency education for the world.” The official announcement can be read here.
This news comes shortly after CZ (not giving crypto away) and team released a sneak-peak demo video displaying some of the early functionality of the Binance Decentralized Exchange (DEX) based on their own public blockchain (below).
The video shows the team member creating and minting example token, ‘XXXToken,’ with a 100 million supply on the Binance blockchain. Immediately after, the token was easily listed to the DEX.
While the functionality displayed in the video is phenomenal, too few entrepreneurs have the technical expertise to understand blockchain tech, let alone the vast array of benefits it can bring to their business. Even though Binance is working hard to simplify these processes, there is a shortage in educational material and misunderstandings by the public around cryptocurrency and the underlying blockchain technology.
So, How Do We Make Learning Easier?
Leaders within the quickly emerging cryptocurrency niche need to take a leading role in providing educational material to the public. Looking at the Binance Academy landing page above, we can see that the early layout is very organized and conducive to a new audience easily navigating the learning platform.
The red box displays the categories, which are basic right now, but still very insightful core topics to know if you are navigating the space. We will scan the category sub-topics a bit deeper next. Perhaps just as important, in the yellow box, we can see content request, content submission and feedback buttons. What better way to improve your platform, categories and content pipeline than by tapping into the community? This is not a new idea, but market participant feedback is crucial to building a stable product and is something I don’t see enough projects prioritizing.
Before we move onto categories, Binance Academy is also hiring:
- 2D Animator,
- Global Digital Marketer and
- Content Writer
The job requirements for these roles can be found on the careers page here.
Binance Academy Learning Categories
I really appreciate the way these categories are laid out as traders, entrepreneurs and supporters should really learn the basics of blockchain technology before they learn how to buy, sell and trade cryptocurrency—seen in the blockchain category.
Next, they should probably know how to secure their cryptocurrency holdings and identify common scams in the space, right? Security category kicks this off with some effective videos. Perhaps the two most important videos in this category, in my opinion, are:
If you don’t know what Private Key Security is and own cryptocurrency, your funds are likely not as safe as they could be.
The final three categories move into the Binance ecosystem and the trading aspect of cryptocurrencies, sections I personally find secondary to first understanding blockchain tech. We must keep in mind this is just the Beta version and will likely change quite a bit based on feedback the team receives.
One suggestion I will be making is including the “What is Bitcoin?” sub-category on top with the “Blockchain” category instead of the “Tokens & Coins” category. Probably right after the “Proof of Work & Proof of Stake” video. Since Bitcoin is the most widely known cryptocurrency, it would make sense to give the student a primer on Bitcoin before diving into other aspects of the space.
Binance Ecosystem is Taking Shape
Most users probably don’t realize this, but Binance has quite a few components to their ecosystem, summarized below:
- Binance Exchange — the first, core component launched in the ecosystem. Provides a location for all parties to exchange value with each other.
- Binance Labs — a blockchain incubator and accelerator, providing entrepreneurs with the opportunity to work closely with Binance to develop the business, gaining resources in the process.
- Binance LaunchPad — Initial Coin Offering platform allowing projects to raise capital from the traders on Binance Exchange. Low barrier for capital to flow from the exchange to the LaunchPad projects — funding innovation.
- Binance Info — largely resembles CoinMarketCap, the widely known source of cryptocurrency prices and project information.
With the addition of the Binance Academy, do you see just how robust Binance’s ecosystem is? Adding a Binance DEX to operate alongside their currently centralized exchange provides the ability to begin ‘de-centralizing’ components of Binance, something the community surely wants — less centralization usually means less fail-points.
Do Your Part — Binance Academy Suggestions & Feedback
The best thing we can do to strengthen our community is to visit the Binance Academy and submit feedback and suggestions. If you’re a content creator, Binance isn’t a bad platform to have your content streaming on — get extra exposure AND educate others.
CZ, if you are reading this, I recommend getting in touch with Chris Coney at The Cryptoverse (YouTube channel) — he’s also leading a charge on educating the public through Cryptoversity, an educational platform for blockchain and cryptocurrencies with videos he has created.
Thank you for reading my work! If you would like to further support me and do not yet have a Binance account, sign-up here. If you already have an account and would still like to support me — please share this through social channels you are active on! dl^_^lb
Until next time!
More stories about Binance:
- Binance Does It Again: Passes Deutsche Bank Quarterly Profits, Continues Leading With Token-based Exchange Model
- Binance Exchange: Fueling a Hot New Era of Token-based Exchange Models?
- Binance Coin: Creating Demand Through Innovative Utility-driven Features
- Binance Moves Swiftly on API Exploits, Establishes SAFU Program
Hardware Wallet, Exchanges & Cryptocurrency Resources:
Some of the links below are affiliate links and signing up helps me continue to create content about blockchain and cryptocurrency projects that benefit the community.
- Changelly — the ultimate fiat-cryptocurrency exchange to buy/sell instantly with credit cards, for anybody, anywhere.
- HitBTC — great exchange for trading various cryptocurrencies and operational since 2013.
- Gate.io — Cryptocurrency exchange listing new coins — get 10% off trading fees if you register with this link.
- History of Cryptocurrency Exchanges — insightful look into the token-based exchange model and how exchanges have evolved.
- CoinPayments — Receive & make payment via 800+ different cryptocurrencies — the crypto-PayPal, just 0.5% fee.
- CoinTracking — cryptocurrency tax resource, making it easy to do taxes from trading Bitcoin and other tokens. Bitcoin, Ethereum, Litecoin, altcoins, etc.
- CEX.io — Buy Bitcoin w/ credit card, ACH bank transfer, SEPA transfer, cash, or AstroPay. Credit purchases are instant. CEX has been established since 2013.
- CoinMama- purchase Bitcoin and Ethereum w/ credit/debit cards & using cash through WesternUnion on their platform. Best for European users.
- Cryptocurrency Resource Telegram Channel — Telegram channel dedicated to providing beginners or experienced cryptocurrency traders with alternative resource options. Exchanges, hardware wallets, tax resources, etc.
- Ledger Nano S — multi-cryptocurrency cold hardware wallet supporting a number of major blockchain projects. Keep your coins safe and offline. Cold storage.
- Kucoin Exchange — Binance’s ‘little brother.’ Very similar with trading competitions and whatnot. Has their own token.
- Binance — the up-and-coming cryptocurrency exchange that has truly entered as a leader among exchanges.
- InvestFeed — Follow along on InvestFeed to get the best cryptocurrency project news. The go-to social platform for crypto enthusiasts.
- CoinMate — great Bitcoin Exchange for those who reside in Europe, the EU and surrounding area. Very easy to understand.
- Huobi Exchange — newer Asian-based exchange, many new tokens.