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What is Coinbase Earn?
Coinbase Earn lets you 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.
In a survey of Coinbase customers and non-customers alike, Coinbase found that one of the biggest barriers preventing people from exploring a new digital asset was a lack of knowledge about that asset. Many of the people surveyed expressed a strong desire to begin learning about new and different crypto assets beyond Bitcoin, but didn’t know where to begin.
That’s why Coinbase launched Earn with tasks related to asset education. The educational content will be publicly available for any curious party to learn more about an asset, even if they haven’t yet received an invite to begin earning.
Traditionally, the two ways people have obtained cryptocurrency are through mining or buying. Mining cryptocurrency typically requires technical knowledge and high upfront costs, while buying cryptocurrency can require disposable income to exchange for cryptocurrencies.
Earning cryptocurrency is a third option. 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 could help open up blockchain access to a new group of users: 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.