How to Earn Crypto on Coinbase
A beginner's Guide to Earning Bitcoin and other Cryptocurrencies on Coinbase.com
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By Wendy’s Whitepaper Contributor: Dragonwolftech
User Level: Beginner
Coinbase.com is by far the easiest website to get started with for beginners in bitcoin and cryptocurrency. Coinbase has become known for its earn rewards section that allows users to earn cryptocurrency while on the platform.
The earn rewards section of Coinbase has been on the site for several years, originally a stand-alone app, Earn, was purchased by Coinbase in 2018 and integrated into the Coinbase website. Users have four options to start earning crypto to their accounts: Recurring buy rewards, learning about the cryptocurrencies Coinbase list, Invite Friends, and Staking rewards.
Recurring buy reward
With recurring buy rewards, users earn $10.00 after their fourth and eighth recurring purchase of $50 (minimum) in bitcoin on Coinbase.com. Users can use any payment method (bank account, debit card, wire transfer) available on Coinbase to make the purchase.
The next option to earn crypto on Coinbase is learning about the various digital assets Coinbase list on its platform. Each lesson list the amount of cryptocurrency the user stands to earn by taking the particular lesson. The length of each lesson varies, ranging from 3 to 10 minutes.
Invite friends reward
Coinbase users can invite others to use the platform; when they sign up and buy or sell $100 (minimum) of crypto, the user who invited them will receive $10 in bitcoin to their Coinbase account.
The last option to earn crypto on Coinbase is with staking on Coinbase. Each cryptocurrency on the platform that can be staked has an estimated percentage or annual percentage yield (APY) of rewards the user may receive. For example, Cosmos has a 5.00% staking reward, and Tezos has a 4.63% staking reward. Currently staking is available for Cosmos 5.00%, Tezos 4.63%, Dai 2.00% (APY), and USDC 0.15% (APY).
Coinbase is an excellent option for beginners in cryptocurrency and digital assets; the platform is easy to use, navigate and has various educational tools. It is recommended that any crypto purchased on Coinbase (or any exchange) be transferred to a private wallet (one that you control the private keys) as soon as possible. Unless you are planning on staking or trading on the platform, you should transfer off the platform. If you would like to know more about transferring your crypto assets from Coinbase, see our article “Here’s how to send bitcoin from Coinbase to Edge Wallet.”
Wendy’s Whitepaper Disclaimer: Please be advised that I own a diverse portfolio of cryptocurrency assets, and anything is written or discussed in connection to cryptocurrencies– regardless of the subject matter’s content– may represent a potential conflict of interest. I wish to remain transparent and impartial to the cryptocurrency community at all times, and therefore, the content of my media is intended FOR GENERAL INFORMATION PURPOSES ONLY. Nothing that I write or discuss should be construed, or relied upon, as an investment, financial, legal, regulatory, accounting, tax, or similar advice. Nothing should be interpreted as a solicitation to invest in any cryptocurrency, and nothing herein should be construed as a recommendation to engage in any investment strategy or transaction. Please be advised that is in your own best interests to consult with investment, legal, tax, or similar professionals regarding any specific situations and any prospective transaction decisions.