The difference between Play to Earn and Learn to Earn is what newbies in the crypto space should strive to know. This will help them arrive at an informed decision about how to venture into any of it.
The gaming industry has over the years experienced massive growth and this growth has contributed to more and more revenue in the digital space.
Although some people venture into it for pleasure, a good number of people benefit from it because there is a reward at the end of the game for the winner.
Learn to Earn on the other hand is built on the originally built to trigger newbies’ desire to engage in crypto activities and to get familiar with the system.
It is a program that educates Newbies who dedicate their time and attention in order to get crypto rewards.
This article will give you extensive information on the following:
- Learn And Earn: What Does It Mean?
- Learn And Earn In Crypto How Does It Work?
- Danger of Learn To Earn In Crypto
- What Does Play To Earn Mean
- How To Benefit From Play To Earn Game.
- Similarities between P2E and Learn to Earn.
- The Difference Between P2E and Learn To Earn.
Learn to Earn Game: What does it mean
These are courses that are designed to help new users in the crypto space to be able to learn able cryptocurrencies and how they work.
At the end of any of the courses partakers will be rewarded, the reward will be in any of the cryptocurrency tokens that the exchange used for the program.
The program equips users with information about cryptocurrencies and they get to learn new terminologies used in the crypto space.
Special skill or experience is not needed to venture into this learn-to-earn program
Also, the learn-to-earn program does not require you t have a crypto wallet, nor does it require you to make a deposit of any currency before you start. The important tool needed from a user is his time and dedication plus access to the internet.
Learn And Earn In Crypto, How Does It Work?
The Exchange that is responsible for hosting the program, the user, and the crypto project whose token will be used as a reward are the three parties involved in the learn-to-earn program.
For Instance, the exchange will release videos that contained material or an article that contain some terminologies I the crypto world, the user that participates in the game is expected to absorb the material, afterward a quiz will be given to the user, if the user answers the quiz correctly he gets the reward.
To qualify for the program, you will have to signup on the website of the exchange that hosts it, some exchange makes KYC compulsory for their users.
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Dangers of Learn To Earn
The unchanging fact about the world of cryptocurrencies is that it is volatile in nature. When the price of a crypto coin used as a reward is high, the user can benefit from their reward, but when the value drops after getting the reward, it will affect the price of the token that was used as a reward.
This will make the newbie lose confidence in the operation of cryptocurrency, or it will make the user that has a negative first experience with cryptocurrency.
What Does Play to Earn Mean?
This is a game that is designed to be played online. The game gives the players and the creators of the game an opportunity to get rewarded after the game.
Play to Earn game is a kind of game that is designed for the interested participant.
They are given the opportunity to create a quiz or a riddle for others to answer, the players will access the game by depositing some token access the game and at the end of the game, if the player loses the creator get to go with his token, but if the user wins he will be rewarded with some token.
The gaming industry has monetized its infrastructure before the beginning of the play to earn games, but the emergence of the game brought about wealth into the system.
How To Benefit From Play To Earn Game.
The game has some benefits which include:
- Financial Benefit
The player gets passive income if he wins the game.
- Social benefit
It brings people together; it gives users the platform to interact.
- The user engages their mental capacity to bring out a solution to the game.
The Difference Between P2E and Learn To Earn.
Play to earn (P2E) and learn to earn have their differences, even as the two concept involves getting rewarded, one can easily take the concept of one for the other.
Some of the differences are as follows:
- Learn to Earn program is handled strictly by the host Exchange, while in Play to Earn, users are given the opportunity to create games.
- Learn to Earn involves reading, or watching videos to earn a token, while Play to Earn involves solving puzzles and riddles.
- Learn to Earn is focused more on Educating, while Play to Earn game is centered on entertainment.
- Learn to Earn pays attention to how newbies learn crypto terminologies, while Play to Earn focuses on how players engage their mental capability to solve riddles
- Learn to Earn is specifically for Newbies, while Play to Earn is for people that are already in the crypto world and can navigate through the system.
Read Also: The Potential Of Cryptocurrency For Financial Inclusion
Similarities between P2E and Learn to Earn.
- Players and creators earn money after the game.
- The two concepts are built on the crypto space.
- The reward can be given through crypto tokens or fiats.
- participants need to sign-up before they can participate.
- The aim of the two programs is to benefit their participant.
The digital world is changing as a result people need extra income or a remote hustle from which they can benefit.
What a user needs to do is to pay attention to any concepts that they come across, research, scrutinize, and draw a conclusion that will benefit them.
Regardless of how the two programs are built, the primary aim is to benefit their users, so attention should be paid to any information that can give accurate financial benefits.