Cryptocurrency has only recently taken off as its legitimacy begins to be recognized by investors across the globe. Many crypto-skeptics are turning into crypto-believers. In some parts of the world, crypto is beginning to be recognized as a legitimate form of currency. Crypto is just like traditional money in creating long-term wealth as a long-term investment.
Can investing in crypto, therefore, make you money? Absolutely. With applications like Coinbase Earn, even those with no idea about the traditional investing market are taking part in crypto trading.
For professional crypto traders up to their necks in deals, Coinbase can streamline their activities. For beginner investors, they can break into the market without much hassle, given the easy-to-understand user interface. Used by over 35 million traders, Coinbase is among the world’s more extensive crypto brokers’ bases.
Follow the instructions below, analyze your costs, and you are on your way to trading in crypto!
What is coinbase?
Coinbase is a licensed and regulated exchange broker for cryptocurrency. It began trading only Bitcoin but has expanded to include Bitcoin Cash, XRP, Ethereum, Litecoin, etc. Its 35 million users operate in about 100 countries worldwide.
To make money on Coinbase, you first need to know how to create an account. This way you can establish yourself on the platform and then begin trading.
First, click on the Sign up button on the top right-hand corner of the home page. Enter credentials such as your name, password, email address, and phone number. A one-time password will be generated; check that from your phone and enter it into your account as verification.
You will also have to enter your ID’s particulars to verify your identity. This is crucial since Coinbase operates exactly like any traditional brokerage, so you will have to enter your information. If you are a U.S. citizen, enter your social security number.
Once the account is made, you will be required to enter your bank account details. You will also be required to provide particulars of any other financial institutions you want to use for deposits or withdrawals.
Make money through coinbase earn
Coinbase’s Earn program incentivizes beginners in the field of crypto trading. This allows the newbies to learn about crypto trading and then make money via the provisions of Coinbase. Worried about not understanding anything when you first join the platform? Coinbase Earn’s features such as educational blogs and videos enable you to catalyze your entry into the market. You can understand the nitty-gritty of crypto trading in no time at all.
It takes you through the process of beginning to trade in crypto, but you also get benefits such as the ability to unlock more educational content as you go along.
Many traditional investors frown about the legitimacy of newer forms of currency like crypto, but with Coinbase, you needn’t have any such worries. The adaptive interface is only one mechanized and technologically advanced way of interacting with the crypto market.
Since the interface is bound to get you assimilated and familiarized with the market as soon as you begin trading in crypto, you also make money by answering the questions correctly in the quizzes designed to test your knowledge about what you have just learned in the video.
All eligible Coinbase Earners can access these videos and get paid in the crypto they choose to learn about. Supported cryptos at the time of this writing include GRT, MKR, COMP, XLM, Band, and CGLD. The eligibility criteria for Coinbase Earn are also dependent on which country you live in.
The advantages of Coinbase Earn
The pros that come with trading in crypto on Coinbase are several. Firstly, the platform is known for its high rates of liquidity. This prevents beginner investors from losing out on a ton of money, given how much the market fluctuates.
Another advantage that you get from trading on Coinbase is that you don’t have to backup your currencies with gold. It recognizes most currencies such as GBP, EUR, or USD, and you can use any payment options such as PayPal, debit and credit cards, and bank transfers.
Given the volatile nature of the market, liquidity and no gold backup requirements are actually very beneficial in preserving the investments of beginners. Even better, the instant exchange option on Bitcoin makes it incredibly simple to convert a traditional currency to cryptocurrency.
How much money can you make on Coinbase Earn?
There is, much like with any other market, no fixed amount of money that you can hope to make on Coinbase. If you are just starting, understanding the market comes before making any returns in exchanging your currency for Bitcoin or others.
The value of the U.S. dollar against the cryptocurrency you are trading in within the oscillating market also contributes to how much money you make on Coinbase.
The type of activities you participate in on Coinbase is also instrumental in influencing how much money you make on the platform. The number of tokens earned on Coinbase does remain static even if the value of the dollar fluctuates.
The final verdict
As a mechanism to make money by trading in the up-and-coming market of cryptocurrency, Coinbase provides a legitimate, easily-navigated route.
Since launching in 2012, the number of users on Coinbase using its Earn trading features has only multiplied, so there is something to be said about how useful it has been as a money-making scheme for millions of users worldwide.
While traditional investors may have qualms about the legitimacy of the money earned on Coinbase, it has 40 licenses in the US alone. It also has a transparent mechanism of operations, making it a reliable and safe crypto platform. Even better, it’s insured by the FDIC, and the money you make in your wallet is insured for up to $250,000.
Given the simple sign-up process, the reliability, and the lucrative nature of investing in crypto, there is quite literally no limit to how much money you can make with Coinbase.