Earn cryptocurrency while learning about new digital assets
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.
That’s awesome, but how can they do it?
To bring this vision about, they needed to make blockchain technology more accessible. To accomplish this they needed to make cryptocurrencies easier to obtain and easier to understand.
So they developed Coinbase Earn.
According to their website:
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.
Coinbase surveyed customers and non-customers. The results of that survey found that one of the biggest barriers of entry into cryptocurrencies, was the lack of knowledge about digital assets.
Many people have heard about Bitcoin and/or knew it was a form of digital currency. However, people were clueless about the other cryptocurrencies, otherwise known as altcoins.
The survey found people had a strong desire to begin learning about new and different crypto assets beyond Bitcoin, but didn’t know where to begin.
So Coinbase Earn was developed to bridge that gap. The educational content is publicly available for any curious person to learn more about an asset.
Bridging the gap to Cryptocurrency access
Traditionally, people have obtained cryptocurrency through mining or buying.
Mining cryptocurrency requires technical knowledge and high upfront costs. Buying cryptocurrency requires disposable income to be exchanged for cryptocurrencies on crypto exchanges (similar to stock trading platforms).
Now through Coinbase Earn, earning cryptocurrency is a third option.
According to Coinbase:
It has the potential to expand the blockchain user base from the tens of millions of people with the resources to mine or buy crypto to the billions of people who now have smartphones. This is because one can — in theory — earn crypto simply by clicking buttons on a phone or laptop.
Coinbase Earn has been solving many of the practical issues required to turn this theory into practice. They give verified, invited users a series of useful tasks to complete.
This usually includes watching informative (straight to the point) videos that are 1-2 minutes long. Each video has a mini test and if you answer correctly, you earn free crypto straight to your Coinbase account.
I have completed all the videos. I can say they are fantastic and provided me a very basic, but comprehensive understanding of the digital assets.
Conclusion
Coinbase thinks that Coinbase Earn could help open up blockchain access to a new group of users. This includes people who are curious about digital assets, but who’d like to try them out for free just like a normal web or mobile app.
By serving that need, Coinbase hopes to make blockchain more accessible in the process.
What is Coinbase? Click here.
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Bare is a contributor at HalfBare. We are committed to providing well-researched, accurate, and valuable content to our readers.
