Having acquired Earn.com in April, Coinbase has launched the first product out of that relationship. Dubbed “Coinbase Earn,” a resource page where crypto lovers can learn more about cryptocurrencies trading on Coinbase and get rewarded with tokens. The announcement, which was published on its blog, marks the 10th day of its 12 Days of Consecutive Announcement, where the U.S. based exchange promises to make a major announcement within 12 days.
Studies have shown that cryptocurrency holders and others who haven’t invested in digital assets are lacking in knowledge about the assets they purchase. For most people, they go through the route of what’s in vogue or follow recommendations on social media groups like Telegram.
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.
Coinbase Incentivizes Learning With Cryptocurrency
Coinbase Earn, which is in private beta, would pull a large crowd based on the incentives. To manage the traffic, while still getting a feel of what the market wants, Coinbase is launching the new product in an invite-only mode for now and with a single cryptocurrency, ZRX, a trading protocol for creating decentralized exchanges.
The exchange has sent invitations to a selected group of crypto lovers, who can visit the Coinbase Earn ZRX page to complete educational tasks in exchange for a small amount of the cryptocurrency.
Even if you didn’t get an invite, you can still view the lessons and learn more about the digital currency. The digital asset platform also believes Coinbase Earn would provide new access for users to obtain cryptocurrency.
The announcement reads:
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.
Currently, there are three beginner level short video lessons for users to complete, that shouldn’t take more than 6 minutes in total, according to the Coinbase Earn website.
Coinbase also launched Coinbase Convert, earlier this week. Convert is a feature that allows the exchange’s retail traders to make crypto to crypto conversions, which it claims is cheaper and faster than selling a digital asset to buy another.