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Two of Australia’s leading cryptocurrency platforms are partnering as part of a significant shake-up in the crypto research market.
Investor analysis platform, Collective Shift, will publish independent market research via the Swyftx Learn website, currently the most widely-used Australian education platform on digital assets.
The partnership will give cryptocurrency users free access to third party analysis, in what is believed to be the first agreement of its kind in the cryptocurrency sector.
An estimated 4.2m adults in the country owned cryptocurrency in 2022. Around 21% of Australians who own, or have owned digital assets in the past, report either little understanding of the market (18%) or no understanding at all (3%).
Swyftx co-founder and CEO, Alex Harper, said: “The crypto industry needs to mature over the next 12 months and one aspect of that is taking responsibility for educating consumers.
“The dynamics of the market have completely changed since FTX. Cryptocurrency users are more questioning and they want credible, independent analysis around market fundamentals and risks. Especially in an environment where there is not yet any access to regulated advice.”
The partnership between Swyftx and Collective Shift will focus on providing weekly independent market research, including deep dives into the use cases and risks of individual cryptocurrencies.
Collective Shift is Australia’s leading retail crypto education and research platform, with more than 6,000 members globally. Founder and CEO, Ben Simpson, said: “There is a real lack of independent, quality education and research in the crypto industry that everyday Australians can understand.
“We’re helping investors navigate crypto confidently through easy-to-understand content and services from our team of global analysts. I’m excited to be able to partner with a leading exchange like Swyftx to provide their users with quality insights so they can invest with the latest strategies and insights directly inside the Swyftx platform.”
Swyftx is the country’s second largest Australian-run cryptocurrency exchange, with more than 635K customers. Just over 1.5 million unique users have accessed Swyftx’s Learn platform since its launch in February last year.
Harper said: “A significant majority of crypto users in Australia report a strong level of understanding around the market. But the complexity and novelty of blockchain tech means you’re still seeing information asymmetries and confusion in the market, especially among retail users. The best defence against this is education.”
“We’re very excited to partner with Collective Shift, who are by far the top retail research provider in the country and one of the very best in the world.”