How to Make Money on Coinbase
At first, all major crypto exchanges, such as Coinbase, started just with Bitcoin.
Nowadays, there are thousands of different digital assets that rule the decentralized future we are heading to.
Newcomers want to learn more about cryptos, and experienced users want to take their investment one step beyond.
Fortunately, Coinbase offers plenty of options for all those who want to dive deeply into this new open financial system.
Yes, you can buy and sell crypto on Coinbase, but making money on the platform is also possible.
In this guide, we are going to show you everything you need to know about the following topics:
- How to make money on Coinbase;
- Best ways to earn cryptocurrency on this exchange;
- How does Coinbase Earn work?
Eligibility Criteria for Earning in Your Coinbase Account
Although everyone has the possibility to earn coins in Coinbase, there are some criteria that users must comply with before even starting.
Naturally, rewards are paid in the form of digital currencies, which means that earners will receive these assets in their crypto wallet.
Thus, knowing beforehand what eligible customers need to start earning will help you save some of your precious time.
Read Also: Most liquid exchanges out there offer similar features as Coinbase.
It’s fundamental to do your own research to understand which one better suits your needs.
Read our Coinbase Alternatives blog post to learn more about this matter.
1. Complete Full Identity Verification
You won’t be able to use all Coinbase’s features without completing the Coinbase KYC Verification Process.
If you want to sell cryptocurrency for fiat currency and transfer it to your bank account via a bank transfer, you need to verify your identity.
The same goes for European users who want to fund their profiles via wire or even SEPA transfers.
Likewise, the Coinbase Earn program, staking features, and referral alternatives are only available for those who properly confirm their identity on the platform.
Thus, this is unavoidable.
2. Live in a Country Eligible for Coinbase Programs
Coinbase operates in more than 100 countries, but not all programs are available in all of them.
Thus, you might be able to buy crypto from your country, but perhaps you can’t use the staking feature.
In any case, check the terms and conditions of each program before starting to earn crypto in Coinbase.
3. Do Your Own Cryptocurrency Research
Crypto assets are often volatile and most likely represent a risk.
Therefore, this educational content should not be taken as investment advice by any means.
This is something that all crypto investors should know beforehand.
It’s fundamental to understand the market before staking or trading digital currency.
That way, you can protect yourself from unfortunate events.
How to Make Money on Coinbase
Assuming your account is ready to earn crypto in Coinbase, then you will find plenty of options on the platform to do so.
It’s time to make money!
Still, consider that each one of these alternatives presents you with different methods that you must consider before choosing one of them.
Coinbase Referral Program
Once you create your Coinbase account, you will see a lot of options in the menu.
One of them is the Coinbase Referral Program, which works exactly as you would imagine.
First of all, your Coinbase account must be properly verified before getting a referral link.
This link can be shared with your friends and other users and you will both earn $10 if your referral buys or sells $100 or more worth of crypto.
Nonetheless, keep in mind that your referral must also complete verification via the Coinbase website or mobile app.
What’s more, account uniqueness is taken into consideration by Coinbase.
Hence, if the person already had a Coinbase profile before, then you won’t be able to make money from their operations.
Coinbase Earn Rewards
The Coinbase Earn Program offers the possibility of earning cryptocurrency by completing simple quiz testing, short courses, and other earn tasks.
According to the company, Coinbase Earn provides the opportunity of earning while learning who the market works.
Users will get daily and weekly activities on their profile that they must complete in order to get funds deposited into their wallets.
In Coinbase Earn, the asset issuers pay a fee to Coinbase in order to have educational content listed on the platform.
In short - Coinbase Earn represents a win-win opportunity for everyone.
You make money while learning, and the market complements itself by getting more people invested in this world.
Don’t hesitate to join Coinbase Earn!
Earn Crypto by Staking It
If you want to experience something more advanced than Coinbase Earn, then Coinbase staking is for you.
Staking assets has become one of the main ways to earn money in the crypto world, but, most times, it isn’t for beginners.
Unlike Coinbase Earn, Staking requires way more knowledge about the crypto universe, which creates the need to properly understand everything before holding any kind of coin.
Pro Tip: Staking might sound complicated at first, but once you get the hang of it, you’ll realize how easy it is.
Learn more about Coinbase staking by reading the article we’ve written about it!
Earn by Trading Cryptocurrency
Buy low, sell high. Trading seems like an easy process, but it actually requires knowledge and practice.
Coinbase Pro offers lots of financial tools for crypto traders, as well as better trading fees and the possibility to Transfer from Coinbase to Coinbase Pro.
Of course, you can get high profits from trading, but you can also lose money.
Most traders turn their assets into stable coins linked to the dollar value in order to make the best out of their transactions.
Anyways, trading in Coinbase Pro might get you amazing results if you know how to do it well.
That’s all you need to know for now! Are you ready to start earning in Coinbase Earn, Staking, or Trading? The choice is yours!
How To Make Money on Coinbase FAQ
Can I Get Rewards in My Coinbase Wallet?
Yes, you can. After getting funds from Coinbase Earn, you can later move these cryptos to your Coinbase Wallet if you please.
The integration between Coinbase’s platform and wallet can be managed effortlessly.
Steve specializes in cryptocurrency and finance. As a born researcher, he won’t leave any stone unturned when it comes to topics he covers.