Next up in the low cost crypto accumulation strategy is learn and earn with Coinbase. The following steps tell you how to get free crypto with the Coinbase learn and earn function, and then below is my analysis and opinion on it (is it any good, etc):
- If you already have a coinbase account, then skip the next step (it will work with existing accounts),
- Signup for a new coinbase account - from memory you will have to go through full verification as well, but I seem to remember that it was fairly straight forward for Coinbase,
- Once verified, go to the 'learn and earn' menu. In the coinbase app on android, you can find it in the main menu which is the top left button (3 horizontal lines). On a desktop computer, you can find it in the left hand navigation bar - it appears as a wrapped up present on my desktop (see red circle in the pic below),
- When you follow that link, it will take you to a page with all of their learn and earn options. Mine currently lists options for learning on Bounce, Fetch, Clover, The Graph and Amp (as you can see, I've done them all).
- Select one and it will present you with a series short animations (about 1 min long) that you have to watch, you then answer a question after each animation based on the content, and get the reward. The reward will then appear in your coinbase assets list - in my case all within 1 minute of doing the lesson. The questions are easy multiple choice style, and the answer is usually obvious, but from memory, if you get it wrong, it gives you another try until you get it right - so I think its a dead cert that you will get the reward.
So its fairly straight forward - here's why I like it:
- straight forward sign-up,
- The lessons are short and easy, and the payouts happened very quickly,
- I found I could then trade and or move the crypto to another wallet if I wanted straight away - I was quite surprised by this, many other platforms lock you in - but not coinbase,
- Then to add to it all, I find that if I check back in, sometimes there are new lessons - I guess because they have added a new coin to their platform, and they are trying to gain some interest in it. Since doing the initial 5 or so lessons, I think I've had a further 3 that have come up - so remember to check back frequently.
- So far in total, I've had $38 of free crypto from this - which is quite good for not really doing much (which equates to about 14% of my current portfolio of $280).
In terms of my low cost strategy for accumulation - so far this has been one of the best payouts, and with new lessons coming onboard, I'll continue to use it. Also, I have to say I like coinbase in general - you can swap from one crypto coin to another quite easily, withdrawals to other wallets are easy, and it gives you a nice handy portfolio graph so you can monitor how your combined coins are doing.
Coinbase also has an earn yield function to allow you to earn some interest on coins held in the wallet. You can earn on Cosmos (5%), Tezos (4.63%), Ethereum 2 (4.5% but I dont think this is quite implemented yet), Algorand (4%) and Dai (2%). On coinbase I could only rate this function as ok, as it only works for those 5 coins and the rates are quite low - you can find better on other sites. However, it is very simple to use, you just have to hold that coin, and the payments get made daily (compound interest - my favourite !) - as you can see in the above pic, I tried it for a few days (with ALGO) - the payouts were small, but it worked.
So you could do the lessons, convert the payouts to one of the yielding cryptos, and then continue to accumulate more through the interest - but you'd have to do your research and decide if thats one of the coins you want to hold or not.
In summary: On the whole, the learn and earn function gets a big thumbs up from me, as does the app generally - I use it daily.
Links:
Coinbase https://www.coinbase.com/join/JBVEN3 free crypto from their learn and earn function
Others:
CAKE DEFI https://app.cakedefi.com/ Referral code 877089 - Free $5 crypto and ~55% APY staking
