How to Earn $US59 Compound (COMP) Tokens - Simple Step by Step Guide
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How to Earn $US59 Compound (COMP) Tokens - Simple Step by Step Guide

By Bragato18 | Bragato18 | 19 Nov 2020


Everyone loves getting free stuff, especially getting free cryptocurrency.

Whether it from completing social media tasks to get that airdrop sent to your wallet, retweeting some projects promotion on Twitter or playing with Faucets to get micropayments every hour. That is why most of us have ended up on Publish0x, the lure of getting free BAT or maybe it was the free LRC or is it the free ETH that floats your boat.

First The Background Story

In 2018 the cryptocurrency exchange Coinbase bought Earn.com in a deal worth more than $120 million. Earn.com was a U.S. startup that used the blockchain for its paid-email service. 

Coinbase then appointed co-founder and CEO of Earn.com, Balaii Srinivasan,  as its first CTO. While the rest of the Earn.com staff was to transfer over to the Coinbase team.

In December 2018 Coinbase launched Coinbase Earn, a similar concept to Earn.com. You got paid in Bitcoin for completing tasks and receiving emails. 

Around February 2019 Coinbase officially closed down Earn.com and requested all account holders withdraw any Bitcoin held in their account be transferred to their Coinbase account.

(I had a small amount of Bitcoin sitting in my Earn.com account which I had been unable to withdraw. Now with the option of withdrawing to Coinbase I could finally get it out. Just needed the market value of Bitcoin to reach a certain level, so the value of the Bitcoin in my Earn.com account would reach the minimum withdrawal threshold of $US2.00. The lengths some people will go to Stack Sats.....)

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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 it's underlying technology, while getting a bit of the asset to try out.

Ox (ZRX) was the first asset available on Coinbase Earn and to manage demand was in invite-only mode. Once you received your invite you were able to watch 3 short educational videos and complete a simple quiz at the end of each video. For watching each Ox (ZRX) video you earned a small amount of the token which went straight to your Coinbase Ox (ZRX) account.

This is what I received for watching one of the 3 educational Ox videos. Yes it was only $US1. But Coinbase Earn in conjunction with their sponsors have since increased the amounts you are can earn on some of their up promotions to $50/59 per token.

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How To Get The Free Compound (COMP) Tokens

Coinbase Earn has a series of 4 educational videos about the Compound protocol that runs on Ethereum and that lets individuals, developers, and applications earn interest on their crypto without relying on third parties.

There are 2 methods of earning the free Compound (COMP) tokens.

#1 Use the referral link  https://www.coinbase.com/earn/comp/invite/p1yf6zb9  and you do not have an existing Coinbase account.

#2 Use the referral link  https://www.coinbase.com/earn/comp/invite/p1yf6zb9  and you already have an active Coinbase account.

Method #1

Using the referral link takes you to the following page where you are invited to join Coinbase Earn. You will need to click on Create an Account and follow all the steps to create a Coinbase account. It is a relatively quick and easy process these days. It took my wife 10 minutes to create and get her account verified. You will need one form of identification and your address needs to match what is linked to the identification. I have been told that you may also need to verify your address. As you are not buying cryptocurrency you will not need to add a credit/debit card.

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Note to all the Coinbase Haters

You can stop reading the blog at this point. No point continuing and getting yourself all steamed up and venting your spleen in the comments. 

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Once your Coinbase account has been verified. Login in and on the Home page scroll down to the the page till you see the Coinbase Earn banner.

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This banner is showing the Zcash (ZEC) educational videos. As you used the Compound referral link, it should display the Compound educational videos in the banner.

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If the Compound video series are not showing, you can just click on any of the videos to take you to Coinbase Earn. Then back out by clicking on  Return to Coinbase Earn. This will bring up all the token educational videos available. Be aware that some no longer giving away free tokens but you can still watch their educational videos.

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Click the blue button Get started.  

Depending on demand at the time you may get put on a waitlist.

It would appear that referrals generally don't have to wait as long existing customers. It usually is about a 2 day to 2 week wait. Coinbase Earn are meant to send you an email advising you are now invited but that doesn't always happen and I would advise you check regularly by logging into Coinbase and go to the Coinbase Earn banner on the home page.

Lesson 1 is a short video that explains how the Compound Protocol, which runs on Ethereum, lets individuals, developers and applications earn interest on their crypto holdings without relying on third parties. After watching the video, you answer a simple quiz. Ka-ching you receive $US3 of COMP.

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Lesson 2 is a short video about borrowing on the Compound Protocol. After watching the video, you answer a simple quiz. Ka-ching you receive $US3 of COMP.

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Lesson 3 is a short video explaining what the COMP token is used for. After watching the video, you answer a simple quiz. Ka-ching you receive $US3 of COMP.

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Advanced Lesson is where you get to use the Compound Protocol on the Coinbase Wallet. This requires downloading the Coinbase Wallet app and linking to your Coinbase account. 

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$US10 of ETH and $US3 USD Coin are deposited into the Coinbase Wallet for you to play with.

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This is where we came unstuck. When we tried to click on Earn interest on your crypto,  it asked us to install iOS 13. Unfortunately for 6 Plus owners iOS 12.4.9 is the end of the road. So we could not complete the tasks and earn the extra $US10 COMP. 

We should be able to withdraw the ETH and USD coin. Just haven't got around to it yet.

We were able withdraw the ETH from the Coinbase Wallet, that they gave us to play with making DAI. 

Now the bulk of the amount of COMP tokens you can earn comes from referring 4 other people with your referral link.

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Method #2

Using the referral link takes you to the same page as in Method #1 but as you are already an existing Coinbase customer you just need to click on Sign in to Coinbase. Once you have logged in,  you scroll down to the Coinbase Earn banner on the home page. Then just follow the rest of the steps as described in Method #1.

The End

Please Note:

Coinbase Earn is not supported in all countries. Please check to save yourself some frustration.

There can be high demand and you may be placed on a waitlist. Some countries are given priority when it comes to the waitlist.

Also it is my experience that referrals seem to be given priority. After posting the Earn Stellar and EOS articles, we received our $US10 between 2 days and 2 weeks.

 

 

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Twitter

Bragato18 @PaulBridgman8

Brave Browser

If you are not already enjoying the benefits of using the Brave Browser on your laptop or mobile devices. 

Click on the Brave link to download and install the Brave Browser and start earning BAT (or just experience the speed and security of an ad free browser). The Referral Program is due to finish soon but I still suggest you download the Brave Browser. My wife and I have been using it as our default browser for 2 years now and are very happy with it. The free BAT is a bonus.

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Stellar Lumens (XLM)

Earn up to $US50 worth of Stellar Lumens (XLM) from Coinbase Earn with the following link. The steps are the same as Method #1. (NOTE: You can use both the COMP and XLM links separately. 

https://www.coinbase.com/earn/stellar/invite/qnpghz1v

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Bragato18
Bragato18

I am a sun sea and sand person, makes chocolate, grows organic vegetables, rides a Vespa and collects crypto. https://twitter.com/PaulBridgman8


Bragato18
Bragato18

Bought our 1st pieces of BTC, July 2017. The process was daunting and confusing. Could easily given up & put it in the too hard basket or have fallen victim to one of the many scams or pitfalls. Grateful to a friend of my son's, who had been in this space for awhile, giving me some good advice & steering me in the right direction. That experience has helped shape my desire to share what I learn. Also always had a morbid fascination with Snake Oil Salesman & their sales pitch; Bitconnect, USI Tech..

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