Coinbase has one of the most profitable programmes among all the exchanges around and allows you to earn cryptocurrencies for free. Do you know how? Let me quickly explain the simple ways offered by the Web3’s No 1 provider.
The Coinbase crypto platform certainly needs no introduction. We are talking about one of the absolute best Web3 exchanges, with a very high degree of reliability and a feature set enviable by much of the industry.
You should know that there are more than 500 digital asset exchanges for experienced investors, and newbies are likely to get lost! It is not easy, in fact, to recognise the best ones straight away.
In this regard, Coinbase has always strived to offer state-of-the-art services and security that many other exchanges cannot boast. And it has promoted its platform with some really interesting initiatives!
One of the ones that users are most fond of is the opportunity to earn cryptocurrencies for free, without any initial investment.
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Coinbase, make your cryptocurrencies profitable
Today, the Web3 presents us with dozens of opportunities to make money with digital currencies.
We cannot ignore the growth of the market and certainly keeping our digital assets ‘hibernating’ in our wallet is not always the best choice for making a profit.
At a time like this, when inflation is galloping and interest rates are rising, there is no denying that investors are particularly attracted to digital assets.
And Coinbase is offering different methods with which to earn fiat or crypto money, safely, easily and for as little as $1.
Many people know how to leverage their cryptocurrencies to earn money without making sales or purchases directly. But Coinbase also allows you to get virtual currency for free.
Earn money by staking
Many blockchains today increasingly rely on the ‘Proof of Stake’ verification method. Which is faster and more environmentally friendly than the old ‘Proof of Work’.
All registered users of Coinbase, after verifying their identity and receiving a TIN, can select on the platform the cryptocurrencies on which they are allowed to staking. And, start earning a percentage depending on how much cryptocurrency we have staked in the process.
In practice, everyone can choose how much of their cryptocurrency to stake and, as a percentage, we will receive crypto rewards every time we help the blockchain validate a non-fraudulent node.
An easy way to leverage our immovable digital funds in the network at a complicated time like this.
Defi returns? A very interesting new method
Another method for earning cryptocurrency without having to buy or spend your own money concerns crypto loans.
In practice, with Coinbase we can, in addition to staking, opt for the Defi yield.
This method allows us to lend part (or even all) of our cryptocurrency in question to Defi lending apps. Thus, earning a return.
If with staking we help the network stay safe and operational, with the Defi yield we lend our crypto (usually deposited within a Compound Finance) which will be used by third parties in various ways while we earn up to 5.75% in APY.
Of course, both are free on the platform, which simplifies both processes for all users, who would otherwise struggle.
At school for cryptocurrencies: Learn & Earn Coinbase
The third and final method that allows you to earn money without spending any is Coinbase’s courses.
Learning is not always liked, but the crypto exchange has turned a boring activity for many into a great way to earn cryptocurrencies. Or at least small percentages of them for free.
Simply register on the platform and you will have access to the ‘Learn & Earn’ programme that will allow you to familiarise yourself with cryptocurrencies old and new, delving into Web3 topics in exchange for crypto as rewards at the end of the course.
A great initiative that is becoming more and more popular. And, that allows you to deepen your knowledge of the blockchain universe by increasing
What are the risks associated with these activities?
There are not many problems that we could run into. But just a few that are always prevalent when it comes to Web3.
Certainly there could be validation errors in staking operations or Defi returns, but the exchange is committed to monitoring and resolving these cases, however rare they may be.
Possible theft of our cryptos? Certainly, a frightening possibility, but one that meets an obstacle represented by one of the most secure and reliable cryptocurrency exchanges in the world, Coinbase.
In short, the cases are extreme, even if they do exist. And you just have to be careful and cooperate with the platform during the procedures.
Read also: Crypto wallets, what are they? Everything you need to know on how to store cryptocurrencies safely
