How to Earn $20+ on Coinbase Instantly and Why You Should

How to Earn $20+ on Coinbase Instantly and Why You Should


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Intro

Coinbase offers a great incentive for signing up to their services - $20+ in FREE cryptocurrency through their Coinbase Earn section! What is Coinbase though? What are the differences between this centralised exchange and decentralised exchanges? And HOW exactly do you get this free cryptocurrency?! All will be revealed in the following article.

Centralised vs Decentralised Exchanges

Coinbase is a centralised exchange where you can buy, sell, store and convert cryptocurrency. A centralised exchange operates much in the same way a bank does:

  • There is an owner (in this case Coinbase Global)

  • They follow rules and regulations (Coinbase are regulated by the New York State Department of Financial Services in the U.S.A. and the Financial Conduct Authorty in the U.K.)

  • You are entrusting the service with your financial assets

Touching on this third point, you do not own your cryptocurrency keys when they are stored in a centralised exchange. This has led to the popular phrase used against these exchanges of “Not your keys, not your coins”. This third party – Coinbase – stores your cryptocurrency keys on their exchange and these exchanges are sometimes hacked or compromised.

Hacks on centralised exchanges are becoming rarer and rarer due to more restrictive regulations but they do happen – a friendly reminder to do your own research before using any financial service! A decentralised exchange is different in the following ways:

  • There is no owner – no third party is in charge of holding your cryptocurrency

  • All that is usually involved is software, an internet connection and an open blockchain (think a ledger of activities that can be seen by anyone)

  • Decentralised exchanges are, in general, less-regulated than their counterparts

  • The majority of trades will be peer-to-peer through the use of “smart contracts

As we can see, the main benefit of decentralised exchanges is that you have complete control of your cryptocurrency keys. For those who are new to the sector or who prefer to store their crypto on a more regulated site, centralised exchanges will probably be your first port of call.

Why Coinbase?

Coinbase was founded in 2012 and has grown to be one of the world's largest cryptocurrency exchanges. They operate in 100+ countries and are listed on NASDAQ under the ticker 'COIN'. You can buy, sell, exchange or store a total of 65 different types of cryptocurrencies on the site with ease. Most importantly, Coinbase serves as a beginner-friendly on-boarding ramp into the world of crypto!

If after your extensive research you have concluded that Coinbase is for you, then it's time to head over to the Coinbase Earn using the link below:

https://www.coinbase.com/rewards?a=YRdGZB67bD

Guide on How to Earn the $20+

Now, for the meat and potatoes of the article – how to bag yourself some free crypto! After signing up using one of the links at the bottom of this article and completing Know Your Customer validation, you can link a debit card to the site so that you can eventually withdraw your earnings from the sale of this crypto!

You can earn small amounts of Compound, Stellar Lumens, The Graph and Polygon by watching educational videos and answering questions related to said cryptocurrencies. Answers to all of the questions are below:

Compound ($9)

  1. Earning interest on your Crypto

  2. Supply a crypto asset as collateral

  3. COMP token holders

Stellar Lumens ($10)

  1. Stellar is a decentralized coin that unites currencies

  2. Facilitating low cost universal payments

  3. Fast, secure, and global

  4. To issue and exchange tokens quickly

  5. It relies on the cooperation of trusted nodes

The Graph ($3)

  1. Blockchain Data

  2. GRT Tokens

  3. Curators

Polygon ($3)

  1. Ethereum

  2. Validators

  3. Internet of blockchain on Ethereum

You can then convert all of your earned coins into Bitcoin using the 'Convert' function on the site (screenshot below). This will enable you to sell your Bitcoin and deposit the proceeds back into your bank account. Alternatively, you can keep the small amounts of crypto in your Coinbase account.

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Converting from one cryptocurrency to another is free!

Conclusion

Regardless of whether you prefer centralised or decentralised exchanges, this introductory offer from Coinbase provides newbies a brilliant way to get stuck into the world of crypto!

 

Coinbase referral link: https://www.coinbase.com/join/clayto_mdfc?a=YRdGZB67bD

Coinbase non-referral link: https://www.coinbase.com/?a=YRdGZB67bD

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Claytz
Claytz

Interested in anything crypto - focusing on reviews for now!


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