One of the key challenges demotivating Africans to join the digital assets market and the blockchain ecosystem is the lack of education on the dynamics and operations around these ever-growing innovations
- Crypsense Digital Group is a digital assets capacity building and management platform that seeks to bridge the evident gap around information scarcity in the digital asset ecosystem
- Most African experts in the digital asset world are reluctant to distribute their knowledge to the vast majority.
- “We know the impact that web3 and blockchain have in Africa. However, we lack capacity. Many institutions, organizations and individuals would like to participate in these inventions, but resources, ignorance and unfavourable regulations incapacitate them”
Crypsense transforming crypto education in Africa
One of the key challenges demotivating Africans to join the digital assets market and the blockchain ecosystem is the lack of education on the dynamics and operations around these ever-growing innovations. Misinformation and misconceptions around the market have kept the continent in a dark room in a world full of opportunities.
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Most African experts in the digital asset world are reluctant to distribute their knowledge to the vast majority. Instead, they grow their wealth as individuals alluding to the repulsive nature of the African people towards these digital assets.
Crypsense Digital Group
Crypsense Digital Group, a digital assets capacity building platform, has come to instil the necessary knowledge and deconstruct non-factual ideas to ensure Africans do not miss out on transformative technologies that will positively impact the future.
How Crypsense operates
Crypsense is a digital assets capacity building and management platform that seeks to bridge the evident gap around information scarcity in the digital asset ecosystem. Digital assets cuts across every direction that ends up requiring blockchain technology.
With a targeted supply of information and financial support to the larger population, the startup believes that Africa has the potential to thrive in the technology world, specifically in the fintech space.
“We know the impact that web3 and blockchain have in Africa. However, we lack capacity. Many institutions, organizations and individuals would like to participate in these inventions, but resources, ignorance and unfavourable regulations incapacitate them.” Alice Anangi, Co-Founder and CEO of Crypsense Digital Group, says.
Crypsense has a learning management system which purely focuses on digital asset management. The startup equips its learners with digital assets’ technological, financial and legal aspects.
The progressive digital asset management courses are offered on three levels:
Beginner level module
The beginner level transitions a person from knowing very little to becoming a practical actor in the digital asset ecosystem.
“For the beginner module, we have four modules of training, each containing three courses. The first three modules cost US$100, and the 4th module is practical step-by-step trading videos, costing US$200. It can only be unlocked after the first three modules have been completed and all tests passed. After completing the beginner’s module, a user unlocks a 6-lesson step-by-step guide on how to earn free crypto and compound on it using the different markets through spot, margin, lending, staking and gaming,” Alice Anangi explains.
This level begins with the most basic ABC knowledge around digital assets, from definition (blockchain, cryptocurrency, DeFi, NFTs etc.), what is trading, to how to open, operate and safeguard an e-wallet, to how to convert fiat to digital currencies, among other fundamental principles.
At the beginner level, Crypsense transitions its subscribers to perform asset management as a service. The learners slowly delve into technical analysis, fundamental analysis, how they can hedge their assets, and how to hold stablecoins. A learner at this platform gets the relevant information to leverage the entire ecosystem and get the most out of it.
The beginner course process takes around ten weeks to complete.
Addiction to crypto trading has become a common deterrence; Crypsense deals with this challenge at the beginner level by teaching their learners trading psychology.
The Intermediary level
Here, Crypsense deals with in-depth technical analysis of every course offered at the beginner level. The concept of creating, selling and buying non-fungible tokens is introduced in this module. The company opens the door to the crypto coding world at the intermediary level, enabling learners to build algorithms that can help them predict the market.
The course takes six months to complete, through which one goes through practical trading and one-on-one consultancy with in-house asset managers.
“We still haven’t put a price on it as we are still empowering our internal team. We will price it by the end of the year. It is very hands-on and one on one due to the coding part. However, we will split the modules similar to beginners and charge separately for the algorithms coding skills.“
Crypsense has a set of asset managers distributed across Kenya, Switzerland, the United States and Belgium, which allows the company to trace the behaviour of assets 24 hours throughout the year. These safeguards investments done by the Crypsense community. They also have partner companies distributed throughout the world.
The Advanced level
This level is purely algorithmic. You do not do anything manually, but with the help of the asset managers, you build algorithms and systems that do everything for you.
The advanced level is purely automated and uses Artificial Intelligence to perform all these tasks.
Crypsense offers free courses.
In July 2022, Crypsense will offer a free course- Introduction to Blockchain and Cryptocurrencies– that will be open to everyone throughout the continent. The course will run for eight days, including a test to evaluate the level of understanding of the course.
The link will be released on web3africa and Crypsense social media pages. To get the course, a participant needs to follow all Crypsense on their socials and post their interest in the training on their Twitter page.
This is the second time Crypsense will sponsor learners in their training programs. Through the African Blockchain Center, they funded 30 students for 14 weeks out of the 400 applications submitted, of which 12 graduated. Crypsense employed five of those graduates in their system.
“I have gone through the entire beginner course of the crypto trading program. It is a lovely course to help you become a profitable trader and know how to hedge risk at the same time. It takes you from someone who knows nothing about crypto trading to a profitable trader in the market,” Kimani Alex, one of the graduates now turned NFT expert, says.
Pay as you earn model
Crypsense pays their learners as they go through their digital asset management courses. The more you progress in the learning model, the more Crypsense rewards you with the Crypsense token.
The 6-lesson step-by-step guide on the beginner level teaches someone how to gain from crypto faucets by performing simple tasks and how to make that free crypto earn for you. If skilled and keen on the guide, a user actually earns the entire coursework fees in a few weeks.
Additionally, staking the Crypsense token puts an institution in a place to earn other African tokens supported by the Crypsense ecosystem or can be converted to other cryptocurrencies.
Crypsense as a digital financial bank
Suppose an institution or individual has a huge portfolio of digital assets or crypto and needs cash without necessarily having to cash out. In that case, Crypsense can issue you a loan with your asset portfolio as a guarantee for payment.
You send your assets to them, and they give you fiat. You both agree to the terms of paying the loan back. Your assets are immediately handed over to you as soon as you repay the loan.
Crypsense also manages assets for the beginners in their course until they are confident of the abilities of the learner to trade on their own.
Additionally, Crypsense enables businesses to fully transform into a digital management system. The startup connects them to the right resources, infrastructure, financiers, and mentors and tokenizes their businesses to launch them to a global audience through their partners worldwide.
Mass adoption from institutions and governments is necessary to empower the blockchain ecosystem to penetrate critical African sectors.