On Friday (May 17), crypto exchange Coinbase announced that eligible users in 19 jurisdictions can now instantly join its educational service, “Coinbase Earn”, which lets people earn certain cryptocurrencies as they learn about them.
As CryptoGlobe reported, Coinbase Earn was originally launched in “invite-only mode” on 19 December 2018, giving a few lucky users the chance to learn 0x (ZRX) as they learn about it.
Here is how Coinbase explained the motivation behind Coinbase Earn:
“Coinbase’s mission is to create an open financial system, where anyone in the world can participate on equal terms from their computer or smartphone. To bring this vision about, we’ll need to make blockchain technology more accessible, both in the sense of making cryptocurrencies easier to obtain and easier to understand… Coinbase Earn allows users to earn cryptocurrencies, while learning about them in a simple and engaging way. The idea is for users to understand more about an asset’s utility and its underlying technology, while getting a bit of the asset to try out.”
The basic idea is that in each lesson, you watch a short video (usually a couple of minutes long) after which you can perform educational takes (such as taking a multiple-choice quiz) for which you are rewarded a certain amount of crypto (e.g. $2 in XLM).
Although Coinbase Earn is available now in the 100+ jurisdictions in which Coinbase operates, only eligible users (those who have passed KYC Levels 1 and 2) in the following jurisdictions can currently join Coinbase Earn and start earning crypto: United States (excluding residents of New York or Hawaii state), United Kingdom, many countries in the European Union (Belgium, Switzerland, Denmark, Ireland, Germany, Iceland, Luxembourg, Netherlands, Norway, Sweden), Canada, Singapore, Australia, Hong Kong, New Zealand, South Korea, and Taiwan. Users in other jurisdictions in which Coinbase operates can join a waiting list, and they will get notified when Coinbase becomes available there.
At the moment, Coinbase Earn offers the opportunity to earn Stellar Lumens (XLM), Zcash (ZEC), Basic Attention Token (BAT), and 0x (ZRX), but Coinbase says it plans to extend the set of cryptoassets on offer soon.
What Coinbase Earn does is quite unique because it allows people new to the cryptocurrency space not only to learn, at a very gentle pace, for free, the basic ideas behind some of the most popular cryptocurrencies, but to become a lot more interested/involved in the space since it provides them with a way to have some “skin in the game” with very little and at zero cost. Also, they won’t have to worry about the ups and downs of the crypto markets since their cost of acquiring crypto via Coinbase Earn is zero, which makes it more likely for them to learn about the concept of HODLing.
All Images Courtesy of Coinbase
