I tried to earn cryptocurrency on Coinbase

Coinbase is a platform that allows you to buy, sell and convert cryptocurrency and it is said to be one of the best exchanges for beginners.

It claims that you can:

Earn crypto by learning about crypto

Coinbase

Supported currencies

At the time of this writing, their supported digital currencies consists of Bitcoin (BTC), Bitcoin Cash (BCH), Dai (DAI), Ethereum (ETH), Ethereum Classic (ETC), Chainlink (LINK), Litecoin (LTC), Stellar Lumens (XLM), Ripple (XRP) and many more with some restrictions.

Signup process

First, I had to create an account with Coinbase and verify my identity. I was required to provide and verify my email address and phone number. My identity card’s front and back as well as a separate picture of myself had to be uploaded.

Overall, the process was simple, straight to the point, and relatively quick. It took just a few minutes for them to approve my account and I was on my way.

You can also earn $13.17 CAD for every person you refer to Coinbase provided that they buy or sell over $131.71 CAD. You can use my referral link to Coinbase.

“Earn crypto” page

Once logged in and at the homepage, I scrolled down to the fourth box titled “Earn free crypto with Coinbase Earn” and clicked on “Earn crypto”.

The earning page consists of a list of cryptocurrencies one can possibly earn by completing quizzes and/or referring friends. Out of the 7 listed, 3 types had all already been claimed and I could not proceed with earning them:

  • Zcash (ZEC)
  • Basic Attention Token (BAT)
  • Ox (ZRX

However, I was able to earn the following 4 types of coins:

  • Tezos (XTZ)
  • Dai
  • EOS
  • Stellar Lumens (XLM)

Quizzes

Before proceeding with earning these different types of coins, I had to apply to each and everyone of them for Coinbase to verify that I was eligible. About 4 days later, I was able to start earning. I did not receive an email confirming that I was eligible so I therefore had to verify myself by logging into Coinbase and navigating to the “Earning” page for said coin.

Once approved, the process to earning the coins was simple, the general consensus was that you got $2 USD worth of that coin per multiple choice question answered (with unlimited tries) and you could only answer a question once you had watched a short video.

That alone brought me around $40 canadian in less than half an hour.

Referrals

Both EOS and XLM allowed me to earn $10 USD per quiz referral, with up to 4 referrals per coin type, totalling about $105 canadian.

You can use my referral link for EOS and my referral link for XLM.

Conclusion

The process is so simple and takes very little time for the amount that you can make. For about an hour of work, one can potentially make about $145 Canadian at the time of this writing.

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