Back to calculators

For professionals and individuals

Digital asset knowledge check

23 topics, from the basics to the nitty gritty: stablecoins, tokenised real-world assets, AI scams, custody, staking, DeFi, fees, tax, super and legacy. Rate your own understanding, or as a professional, talk it through with a client and rate theirs. You'll see your score by area, what could be missed and where to read up. It takes about 6 minutes, and nothing you choose leaves your browser.

FUD and FIDDD

FUD

Short for fear, uncertainty and doubt. It means negative or misleading information used to sway opinion, especially in technology, finance and crypto. It spreads fastest when markets fall or a frightening headline does the rounds.

FIDDD

Our answer to it: informative reading for financial professionals and individuals looking at digital assets. Where FUD works on feelings, FIDDD sets out how things work and what can go wrong, so you can make up your own mind.

Each letter is one topic:

Who is this check for?

Foundations

  1. 1 of 23Why Bitcoin's supply is capped and why holders say that matters
  2. 2 of 23How Bitcoin, Ethereum and stablecoins differ
  3. 3 of 23Why a blockchain transfer usually can't be reversed, and what that means for mistakes and fraud
  4. 4 of 23Why some people see Bitcoin as a response to inflation, and the arguments against

Stablecoins and tokenisation

  1. 5 of 23What backs a stablecoin, who checks the reserves, and how TerraUSD lost its peg in 2022
  2. 6 of 23What tokenising an asset means: a token on a blockchain that records a claim on something held off it
  3. 7 of 23Real-world assets on a blockchain, such as tokenised bond funds, gold and property: who can buy them, how to redeem them and what happens if the issuer fails

AI

  1. 8 of 23How AI is used in scams: deepfake videos and cloned voices of well-known people promoting fake platforms
  2. 9 of 23Weighing AI claims: "AI trading" promises, AI-themed tokens, and the limits of chatbot answers

Holding and buying

  1. 10 of 23Holding on an exchange versus self-custody, and what happened when platforms such as FTX failed
  2. 11 of 23What a seed phrase is, how it should be stored, and why no genuine business will ever ask for it
  3. 12 of 23Checking a platform is registered with AUSTRAC, and what that registration does and doesn't cover
  4. 13 of 23Getting exposure without holding coins, such as exchange-traded funds on the ASX, and their trade-offs
  5. 14 of 23The full cost of buying, holding and selling: spreads, trading fees, withdrawal fees and fund fees

Yield and DeFi

  1. 15 of 23What staking is, where its rewards come from, and the risks of lock-ups and penalties
  2. 16 of 23Lending and "earn" products, and why lenders such as Celsius froze withdrawals in 2022
  3. 17 of 23DeFi and smart contracts: code bugs, hacks, and wallet approvals that give a contract access to your assets

Tax, super and legacy

  1. 18 of 23How digital assets are taxed in Australia, including swaps between coins and staking rewards
  2. 19 of 23What records a holder needs across exchanges and wallets
  3. 20 of 23How an SMSF can hold digital assets: sole purpose test, investment strategy, separate custody and audit
  4. 21 of 23What happens to digital assets when someone dies and no one can find the keys

Risk

  1. 22 of 23How deep past falls have been (more than 75% from a peak) and what that means for a whole balance sheet
  2. 23 of 23The scams aimed at wealthy and older people: fake platforms, impersonation, romance and recovery scams

Your results appear here as you answer

A programme for professionals is coming

We're building education for advisers, accountants, SMSF specialists and lawyers, going deeper on each of these topics. Join the newsletter to hear first. In the meantime, start with our page for professionals.

Hear about the programme first

What this is and isn't

This is general education. It rates understanding, not whether anyone should hold digital assets, and it isn't accredited or a source of CPD points. Any advice to a client is yours to give within your own licence and obligations.