The cryptocurrency exchange industry is growing in popularity exponentially, and more people want to dip their toes into buying and selling bitcoin and other cryptocurrencies. For newbies and beginners, Coinbase has been their go-to platform. This is primarily because the exchange platform is convenient, easy-to-use, and does not have a steep learning curve.
Coinbase is one of the largest exchanges in the world, garnering over 56 million users. It offers multiple features and has various cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and more. As with most exchange platforms, earning money with Coinbase requires patience and knowing the right tips. Luckily, Coinbase has a few features that can make earning money easier. The best one known is Coinbase Earn.
In this guide, we will do a thorough rundown of this platform feature and provide you with tips that will equip you to maximize your profits and make money with Coinbase.
What is Coinbase?
This is one of the largest digital currency exchange platforms in the world that is functional in nearly a hundred countries. It initially started with only Bitcoin but now supports over fifty digital currencies. Coinbase has a low sign-up fee, an easy-to-use interface, and free features, such as Coinbase Wallet. It also offers Coinbase Pro, which is designed for more experienced cryptocurrency dealers. All in all, it is an excellent platform that offers something for everyone.
What is Coinbase Earn?
If you are wondering how to make money with Coinbase, well, the answer is Coinbase Earn. This is essentially an incentive program by Coinbase that allows newbies to learn how to buy and sell cryptocurrency. In return, they earn some cryptocurrency. The learning resources and content walk you through each process of exchanging digital currencies, how to maximize your earnings, and all other basics of cryptocurrencies. As you unlock more content, you get to make money with Coinbase Earn.
How to Make Money on Coinbase Earn
Much like the main platform, Coinbase, Coinbase Earn also has an easy-to-use interface. You simply need to sign up on it with your basic information and unlock the lessons. The educational content is found in videos and is followed by short quizzes to test your knowledge and what you have learned.
This content is specifically designed around a certain cryptocurrency. Once you complete a specific module, you earn the same crypto you learned about, and it gets transferred to your wallet, which helps with earning money with Coinbase. Since lesser-known altcoins are generally not the most worthwhile investment, it is recommended to convert them into bitcoin or ethereum to make the most out of what you earn.
There are certain criteria that each user must meet in order to be eligible to use this learning hub. First of all, they should have a Coinbase account and belong to a country authorized to use the platform. Moreover, you must not have more than one Coinbase account. You will also need to fill out the standard compliance forms on the platform to start using Coinbase Earn.
How Much money can I Make on Coinbase Earn?
This really depends on the number of modules you take up, how much time you invest in learning about a platform, and the frequency of learning. It also depends on the value of the cryptocurrency you earn and how much it converts to USD. It is important to note that the number of coins will not change regardless of the fluctuating USD currency.
Coinbase Earn Pros and Cons
Now that you know about Coinbase Earn and how you can use it, here are some important pros and cons of the learning platform you should know about.
Coinbase Earn Pros
- It is easy to use and convenient
- Compatible with both iOS and Android
- You will be able to earn and buy only the most trusted cryptocurrencies
- Unlike other platforms, the coins earned from Coinbase Earn can be bought or sold in flat currency, such as USD, GBR, and more
- Allows for instant exchange
- Supports debit card, credit cards, PayPal, and bank transfers
Coinbase Earn Cons
- Compared to other exchange platforms, it does have higher fees
- When coins are deposited in your Coinbase Wallet, it means that Coinbase has control over it
- Your earning and losses are accessible by the government since you will need to add in all your personal information for verification purposes
Is Coinbase Earning Worth It?
If you are looking for an easy and simple way to earn money, Coinbase Earn is a good medium. You simply need to sign in, watch videos, and answer questions on quizzes. Doing this will help you make money with Coinbase. Not to mention the fact that Coinbase is one of the safest exchange platforms in the world. It has over forty licenses, is operational in many countries, and provides users with all details about relevant governing bodies.
Moreover, the platform insured all of the coins and cash up to $250,000 in your wallet on Coinbase. All in all, Coinbase Earn is a legit way to make money if you want to earn more crypto from ways other than buying and selling it.
Earning Money with Coinbase through Coinbase Card
Take advantage of the Coinbase card that is funded by your Coinbase balance. This will provide you with several rewards, exclusive promos, and more. It also helps to manage your money while on the go because of the transaction details it provides.
All in all, Coinbase is a leading exchange platform that has an excellent reputation. There are several ways to make money on it besides dealing in crypto; you can learn about it while earning it or use the different promos and rewards offered by the platform. This way, you will definitely be able to make money with Coinbase and maximize profits.