To become a chartered financial analyst and have the coveted “CFA” letters on your resume, it is recommended to dedicate at least 900 hours to studying for the exam. As for the Certified Public Accountant Exam, which is commonly taken by prospective CPs, 300 to 400 hours of reading is sufficient. Having a Bachelor’s degree in the subject is also beneficial.
For those interested in becoming a “Certified Cryptocurrency Expert,” there are online coursework options available for $229 for an 11-hour block through Blockchain Council. If that time commitment is too much, there is also a “Cryptocurrency and Blockchain Certificate” that only requires four hours of study, passing a 20-question test, and paying $795.
The lack of a professional certification specifically for the cryptocurrency sector has led to a void that many organizations are trying to fill. The recent surge in Bitcoin’s value has piqued interest in this field, but there are still uncertainties surrounding the worth of these investments.
Experts attribute the growth of online crypto-certification to the lack of sufficient coursework offered by universities. Duke University’s finance professor Campbell Harvey warns that not all certifications are reputable, and some may just be money-grabbing schemes.
Attempts to contact Blockchain Council for comment were unsuccessful, and it seems that some certifications, such as the $795 Cryptocurrency and Blockchain Certificate offered by ACAMS, may not be reputable either.
In one instance, a crypto education program was directly linked to an alleged fraud case. The US Securities and Exchange Commission settled with Brian Sewell, founder of the American Bitcoin Academy, for defrauding 15 students of over $1 million by convincing them to invest in a hedge fund. Sewell did not respond to requests for comment.
As Bitcoin’s value continues to reach record levels, there has been a corresponding increase in interest in crypto certifications. However, the Crypto Association and Coin Center, two major players in the industry, do not recognize any of the available certifications.
Some employers, such as Coinbase Global Inc., the largest US crypto exchange, value experience and achievements in the crypto space more than certifications. Others, like Bitwise Asset Management, see certifications as a way to ensure a strong foundation of knowledge in the industry.
The demand for certification courses has increased by 30% since the beginning of the year, as ETFs investing in Bitcoin have been approved for use in the US. Founder of Edelman Financial Engines, Ric Edelman, believes that this new wave of consumers entering the crypto world will present a challenge in separating legitimate certifications from money-grabbing schemes.
In the end, it’s important to do thorough research and not rely solely on certifications when evaluating someone’s knowledge and experience in the crypto space.
