Coinbase is ramping up its efforts in becoming a household name in the world of cryptocurrency exchanges.
The latest initiative presented by the exchange is called “Earn”. Coinbase Earn was launched last year and served as a way for users to understand cryptocurrencies and earn respective cryptocurrencies by taking courses and completing quizzes.
With Coinbase Earn, cryptocurrency users can enhance their knowledge of cryptocurrencies by watching videos, quizzes, and earning digital assets in the meantime. Coinbase Earn was open to a select few customers in specific regions, it will now be opened to more users across the world.
The Growth of Coinbase Earn
The exchange announced via a blog post on May 17th that it will now be open to users in “more than 100 countries”. The expansion of Coinbase Earn is expected to add value to asset issuers, to cryptocurrency enthusiasts, and to Coinbase.
Asset issuers may gain more exposure and potential network participants.
Users will have the opportunity to learn about cryptocurrency assets and understand different aspects of the blockchain ecosystem.
Coinbase will have the opportunity to have more users hold assets within Coinbase wallets, encouraging more potential use to a wide base.
Stellar Lumens (XLM)
Basic Attention (BAT)
More will be released over time.
To Participate in the Coinbase Earn Initiative
Individuals must meet eligibility requirements and reside in the countries listed.
Eligibility requirements include:
- Passing ID verification processes
- Be compliant
History of Coinbase Earn
Coinbase Earn came from the acquisition of Earn.com, a startup launched by Bajali Srinivasan in October 2017. Earn.com was initially, an application which allowed individuals to send messages to others by paying a fixed fee set by the recipient.
The startup raised more than $100 million in funding and was acquired for a little over $100 million by Coinbase in 2018 “with some cash, some stock, and some crypto assets”, according to Vox.
Srinivasan joined Coinbase in the role of its CTO as part of the acquisition. Srinivasan has recently left Coinbase and is thinking about his next steps in the industry.