Crypto Awareness Increases During Financial Literacy Month

April is designated as National Financial Capability Month in the U.S. to emphasize the importance of financial education nationwide. While efforts have been made to inform Americans about the traditional finance sector, this month also presents opportunities for education in the realm of cryptocurrency.

Crypto Education Gains Significance In The U.S.

A recent report from Security.org revealed that the percentage of crypto ownership in the U.S. increased by 10% last year. The study indicates that 93 million individuals possess one or more cryptocurrencies.

The forthcoming Bitcoin Halving event has further ignited interest in Bitcoin (BTC).

With the growing appeal of digital assets in the U.S., experts in the industry assert that education regarding cryptocurrency has become more essential.

Bitcoin Educational Efforts In The U.S.

Kendra Cole, Co-founder and CEO of Sparrow Finance, informed Cryptonews that the recent approval of Spot Bitcoin ETFs in the U.S. has propelled digital assets into the mainstream.

Cole emphasizes that individuals—especially women and children—should be provided with improved educational opportunities concerning Bitcoin adoption.

“The motivation for women to engage with Bitcoin now is to forge stronger connections through shared experiences and interests,” stated Cole. “We recognize that women often serve as the chief financial officers of their households, making the majority of financial and gifting decisions. Sparrow Finance aims to equip them with the necessary tools through Bitcoin education.”

During Financial Capability Month, Cole mentioned that Sparrow Finance took part in Chicago’s Ultimate Baby Shower, a community event for parents to discuss financial education.

“At this gathering, we connected with new parents to share insights on how women can engage with digital assets,” she explained. “We also explored ways for women to utilize Bitcoin to strengthen ties with their loved ones.”

Cryptocurrency exchange Coinbase is also prioritizing crypto education this month. A spokesperson from Coinbase told Cryptonews that 87% of Americans wish to reform the financial system.

“The primary reasons for this dissatisfaction are frustrations with fees and transaction speed,” the spokesperson noted. “The existing system imposes excessive costs on average Americans, takes too long, and yields less value for their money over time.”

To illuminate this issue, Coinbase launched a commercial this week aimed at explaining the Bitcoin halving event to the general public.

“The advertisement will be broadcast on major U.S. networks, including TNT, ESPN, and ABC during the NBA Playoff games,” the spokesperson stated. “The commercial will run from April 17 through April 22.”

Food for thought:
What if money was designed to get you more over time, not less?#Bitcoin pic.twitter.com/z8eHF8JltQ

— Coinbase (@coinbase) April 15, 2024

Coinbase believes that this advertisement conveys a significant educational message to viewers.

“This April, the rate of new Bitcoins created will be halved—just as it has been approximately every four years since its inception in 2009,” the spokesperson clarified. “This halving guarantees that its supply remains limited over time (similar to gold).”

Coinbase added that the company’s marketing strategy aims to engage audiences in a “tech-forward manner.” “All of our campaigns incorporate both online and offline elements, inviting audience participation,” the spokesperson noted.

BlackRock, the San Francisco-based asset management firm overseeing over $10.5 trillion in assets, has also recently launched an educational series focused on Bitcoin.

A collection of four brief videos covering various Bitcoin topics is available on BlackRock’s official website. The series discusses Bitcoin ETFs, the halving event, security, and Bitcoin adoption in accessible language.

For instance, BlackRock’s educational video on the Bitcoin halving explains, “To ensure that no more than 21 million coins enter circulation, a halving event occurs every four years, reducing the amount of bitcoin awarded to miners for completing each block by half.”

Global Expansion of Crypto Education

While crypto education is gaining traction in the U.S., numerous initiatives are also being launched worldwide.

For example, cryptocurrency exchange Bitget recently announced its commitment to allocate up to $10 million to the corporate social responsibility project Blockchain4Youth.

Gracy Chen, Managing Director of Bitget, informed Cryptonews that this initiative aims to nurture young talent while fostering a blockchain-friendly educational environment.

“Since the inception of Blockchain4Youth in May 2023, the program has been conducting campus roadshows globally to educate youth about blockchain knowledge,” Chen stated. “This month, Bitget hosted a Blockchain4Youth event at Ton Duc Thang University in Ho Chi Minh City as part of the HUB FORUM 2024 event, attracting over 1,000 students from various universities in Ho Chi Minh City.”

Chen emphasized that organizing events like Blockchain4Youth has become essential, citing a recent Bitget study indicating that Millennials and Gen Z are likely to be the primary drivers of crypto adoption.

Chen also mentioned that Bitget has additional educational crypto events scheduled in the Philippines and Japan later this month.

“Cryptocurrencies have the potential to offer financial access to individuals who are underserved or excluded by traditional banking systems,” she remarked. “Education can help bridge this gap by teaching individuals how to utilize cryptocurrencies and access financial services in a decentralized manner.”

Stablecoin issuer Tether has also recently initiated an educational program in the Middle East.

The USDT issuer has partnered with digital asset infrastructure provider Fuze to enhance digital asset awareness for businesses and individuals across Turkey, the Middle East, and North Africa.

Tether and Fuze Forge Strategic Collaboration to Elevate Digital Asset Education in Turkey and the Middle Easthttps://t.co/QafmslCcke

— Tether (@Tether_to) April 15, 2024

Tether and Fuze will create programs and workshops aimed at improving awareness and understanding of cryptocurrency and blockchain technology among local financial institutions.

Challenges in Crypto Education

While it is encouraging that crypto education is becoming a priority, challenges associated with digital assets may pose obstacles.

For instance, Cole believes that the primary challenge in digital asset education is addressing the knowledge and confidence gap.

“This gap disproportionately impacts women, who manage multiple responsibilities—such as their careers, families, and finances—while navigating the complexities of digital assets,” she stated. “Amidst all this, finding time to engage in digital asset education can appear overwhelming.”

To tackle these challenges, Cole sees the value of community and in-person events as means to assist women and families in comprehending cryptocurrency.

Conversely, Chen believes that the rapid pace of the crypto industry presents difficulties for most individuals.

“The cryptocurrency sector may witness new innovations emerging every month, week, or even daily,” she noted. “Only learners with a high degree of curiosity and initiative can effectively keep pace with the crypto industry’s speed.”

In light of this, Chen remarked that individuals interested in learning about digital assets should not depend solely on articles, videos, books, or the internet to fully understand the industry.

The post Crypto Education Gains Traction During Financial Capability Month appeared first on Cryptonews.