How To Earn Crypto Rewards On Coinbase.
As the crypto-economy develops, there are now a lot of ways to earn rewards for holding crypto, learning about crypto or working with DeFi applications. A lot of opportunities are available in the main Coinbase application or website, and more rewards can be exploited with the use of a wallet with a DeFi browser built-in, such as Coinbase Wallet. Let’s break down the basics of some of the best ways to grow your crypto via rewards right away.
1. Coinbase Earn:
The simplest way to begin to generate crypto rewards on Coinbase is via Coinbase Earn. This one works like this – you only have to watch brief videos while learning the basics about specific cryptocurrencies, and you will be rewarded with crypto. In fact, since Coinbase Earn was launched 4 years ago, users have received over $100 million in crypto including 0x, Basic Attention Token, Zcash, Stellar Lumens, EOS, Dai, Tezos, Orchid, Compound, Celo, Nucypher, and the Graph.
If you are not aware, Coinbase has grown to become one of the world’s largest digital currency exchanges, with over 56 million users, so it is very reliable with rewards. The platform is a fully registered and regulated cryptocurrency exchange broker which currently operates in more than one hundred nations all across the globe.
Coinbase Earn simply allows clients to learn about several cryptocurrencies via instructional, informative content in the form of educational material, and users will appreciate the idea because they get to earn coins while learning about cryptocurrencies in a very straightforward manner.
It is straightforward because users only have to watch clips on their preferred crypto and then complete a short quiz or assignment to test their knowledge on the topics in the videos. Answer the questions correctly and Coinbase will immediately credit your Earn account with that specific cryptocurrency.
How Much Can I Earn With Coinbase Earn?
Rewards might range from $1 to $12, and these amounts are basically to encourage users to partake in the program. If you decide to study all the coins featured in the program, your chances of reaching a tangible amount is very high.
2. Stake Some Of Your Crypto:
If you are not aware, several crypto-currencies now use Proof of Stake consensus mechanism, which is how their decentralized networks can guarantee that every transaction is verified and secured without the need of a bank or payment processor as a middleman.
With crypto-currencies like this, you and I can earn rewards just for aiding the security of the network by locking some of our holdings into a staking pool for a specific period of time. In exchange, you are entitled to a reward. This makes a lot of sense if you wish to hold onto the crypto for a while, and by so doing, you can put your crypto to work, instead of letting it remain idle.
On the main Coinbase application or site, eligible users will be able to stake Tezos, Cosmos, or ETH and earn as much as 5% interest, depending on the kind of asset they stake. Head to coinbase.com/staking for more information.
3. Turn Your Dollars Into Stablecoins:
One disadvantage that comes with staking rewards is that they are paid in the native crypto-currency, which can be very unpredictable. However, you can earn rewards by buying and holding dollar-pegged stablecoins like Dai and USD Coin (USDC). As of June last year, users can earn 2.00% APY rewards by holding Dai in their Coinbase account. You can earn 0.15% APY for holding USD Coin — and even earn more through USDC Lending.
4. Lend Some Of Your Crypto With CeFi:
In the present era of very little interest rates, it is now impossible to hold dollars in a regular savings account and safely earn a reasonable profit. However, stablecoins have made an identical proposition possible. If you are not aware, several centralized finance (or CeFi) products have been emerging and they offer compelling yield for keeping some of your crypto holdings in stablecoin form.
Coinbase customers searching for a low-risk investment can begin to earn 4.00% APY via USDC. And even if crypto deposits are not eligible for FDIC or SIPC insurance, all USDC held in your Coinbase account is guaranteed by Coinbase. You can register for the waitlist at coinbase.com/lend.
5. Lend Some Of Your Crypto With DeFi Apps:
If you do not mind high potential risks for high returns, you can carry out an experiment by lending some of your crypto via DeFi apps. Kindly note that DeFi is still an emerging tech, therefore it is wise not to invest more than you can afford to lose if you want to experiment with it.
Defi actually aids transparent lending for higher yields than regular financial offerings and investors that supply their cryptocurrency to DeFi lending protocols get rewarded in the form of interest that gets charged to borrowers. Just go for a crypto wallet that works with DeFi apps. With Coinbase Wallet, users can experiment with lending some of their crypto, and the simplest way to begin is with a stablecoin, through DeFi protocols like Compound or Aave.
6. Referral Route:
The individual must enter via a referral link. Just accept the invite and ensure you meet the criteria below:
- Open an eligible account on Coinbase.com.
- You must not be residing in a country where the underlying cryptocurrency is not listed on Coinbase.com or Coinbase Pro.
- You must complete a minimum of 1 assignment for the Earn campaign to which you received the referral.
More Information On Crytocurrency:
A cryptocurrency, crypto-currency, or crypto is a digital currency designed to work as a medium of exchange through a computer network that is not reliant on any central authority, such as a government or bank, to uphold or maintain it.
Cryptocurrency does not exist in physical form (like paper money) and is typically not issued by a central authority. Cryptocurrencies typically use decentralized control as opposed to a central bank digital currency (CBDC). When a cryptocurrency is minted or created prior to issuance or issued by a single issuer, it is generally considered centralized. When implemented with decentralized control, each cryptocurrency works through distributed ledger technology, typically a blockchain, that serves as a public financial transaction database.
A cryptocurrency is a tradable digital asset or digital form of money, built on blockchain technology that only exists online. Cryptocurrencies use encryption to authenticate and protect transactions, hence their name. There are currently over a thousand different cryptocurrencies in the world, and their supporters see them as the key to a fairer future economy.
Bitcoin, first released as open-source software in 2009, is the first decentralized cryptocurrency. Since the release of bitcoin, many other cryptocurrencies have been created.
Thanks for reading How To Earn Crypto Rewards On Coinbase. You can click to read about Non-Fungible Token (NFT): Everything You Need To Know.
Don’t Forget To Like, Comment, and Share with your friends.