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Would you like to earn $130 worth of Cryptocurrency for watching and learning about the blockchain (~20 mins worth of videos)? If so, you should take a look at Coinbase Earn.
What is Coinbase Earn?
Coinbase Earn is a learning platform developed by Coinbase. The platform seeks to create an open financial system, where everyone can access and understand cryptocurrencies and the blockchain.
Coinbase Earn was initially launched with an invite-only lesson about ZRX (a cryptocurrency token that interacts with the 0x protocol. The 0x protocol believes that all forms of value will eventually be represented as tokens).
Earn $50 worth of EOS learning about EOS.
Earn $50 worth of XLM learning about XLM.
Is Coinbase Earn a Scam?
The creator of the program, Coinbase, is one of the first exchanges that made it easy to purchase bitcoins and has since become a trusted exchange platform in the cryptocurrency space. Coinbase has currently exchanged 150 Billion dollars’ worth of cryptocurrency and has served over 30 million customers. Other features include secure offline storage of bitcoins, insurance protections, and industry best practice.
So to answer the question, no Coinbase Earn is not a scam. Here is a screenshot of my earnings through Coinbase Earn:
How Does Coinbase Earn Work?
The developers at Coinbase have created educational videos to teach individuals about different types of cryptocurrency. To earn free cryptocurrency, people have to:
- Be registered, or register with Coinbase (registration is free)
- Watch these videos (they go for about 2 mins each).
- Answer a short 1 question quiz. Don’t worry, the quiz is pretty easy, and most of the answers can be found through Reddit or other webpages
- As soon as the video has been watched, Coinbase deposits the cryptocurrency (the one that you learnt about) into your wallet.
Do I need to know about Cryptocurrency?
Not at all, that’s the idea here. Coinbase Earn encourages you to learn about the cryptocurrency, and they reward you with a little bit to try out yourself.
One of the main reasons that the Coinbase Earn program started, was because a survey by Coinbase found that one of the biggest barriers preventing people from using and investing in cryptocurrency was a lack of understanding. Many people were unsure where to begin.
Coinbase Earn Eligibility
To be eligible for the Coinbase Earn program, you must:
- be able to create a Coinbase Account
- be from a supported country (see here), excluding New Your or Hawaii
- be able to complete customer ID and verification
- meet fraud and compliance-related criteria.
The offer for earning tokens is limited while token supplies last.
Coinbase Earn Fees
There are no fees associated with Coinbase Earn. If you choose to exchange your currencies or cash out through PayPal, then some fees may arise, however, these are taken out of your balance.
What Coins are available through Coinbase Earn?
Coinbase Earn currently offers:
- DAI (DAI) ($20)
Dai is a decentralized stable coin running on the Ethereum blockchain. It aims to always be worth one US dollar.
- EOS (EOS) ($50)
EOSIO is a blockchain protocol designed for fast, free, and secure applications. EOS is a popular blockchain that uses the EOSIO protocol; it’s also the name of the blockchain’s system token. Earn $50 worth of EOS
- Stellar Lumens (XLM) ($50)
Stellar unites the world’s financial infrastructure so money can flow quickly and cheaply between banks, businesses, and people. The Stellar network has its own cryptocurrency, the Stellar Lumen. Lumens facilitate low-cost, universal payments on Stellar. Earn $50 worth of XLM.
- Basic Attention Token (BAT) ($10)
The Basic Attention Token (BAT) is an Ethereum-based token that is designed to improve digital advertising on the web. The BAT token is connected to the Brave browser, which is on a mission to fix what it believes is a broken web.
- Zcash (ZEC) ($0 – all tokens claimed)
Zcash is a cryptocurrency with strong privacy features. Zcash’s shielded transactions let you exchange value without revealing your private financial information.
- Ox (ZRX) ($0 – all tokens claimed)
ZRX is a token built on Ethereum that interacts with the 0x protocol. 0x believes that all forms of value will eventually be represented as tokens.
Coinbase to Paypal
Once you have earnt the coins through Coinbase Earn, you are able to do what you would like with them. This includes transferring to Ethereum, Bitcoin, or to a Paypal account.
Other things to consider
In order to withdraw from Coinbase, a user will need to be able to complete personal verification, as well as verification of a bank account.
- Earn Hora Tokens for free through Crypto Idle Miner – the idle game where you can earn real cryptocurrency
- Use the Brave Browser to earn cryptocurrency while browsing
I came across Coinbase Earn through an astute reader on another article about earning free cryptocurrency through Crypto Idle Miner. After seeing it was through the widely recognised Coinbase platform, I logged into my account and watched one of the first videos straight away.
After being credited the initial cryptocurrency for the first video, I continued through all of the learning material, earning the DAI BAT XLM and EOS cryptocurrencies. Through the process, I was also able to earn a tiny portion of Ether as well. I would highly recommend trying it out as it can start you on your cryptocurrency journey (for free)!
Hopefully, Coinbase Earn brings out more coins to learn about, and earn.
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Cryptocurrency TaxesWith the increasing utilization of cryptocurrency in today’s age, it’s important to be aware of tax obligations that may arise through your cryptocurrency use. To help you keep track of your coin movements, and potential tax obligations, there are companies that are able to keep track of all your purchases, exchanges and sales. Here are two of the best at the moment:
- CoinTracker (the program I use) is a unified interface for cryptocurrency. It lets crypto holders connect their wallets and exchanges, see their portfolio, wallets, and transactions in one place, and generate their cryptocurrency tax returns with the click of a button. There is a free version, or use this code for $10 off any paid plans.
- CoinTracking analyzes your trades and generates real-time reports on profit and loss, the value of your coins, realized and unrealized gains, and reports for taxes. There is a free version, or use this code for 10% off any upgraded plans.