Coinbase is a popular cryptocurrency exchange offering users numerous financial products related to the world of digital currencies.
Users generally gravitate towards the platform based on the wide variety of cryptocurrencies available as well as the sleek and easy to navigate app.
You might be wondering how you theoretically make money using Coinbase, and there are a few different avenues.
We will be going into more detail about each one below, but first, here's the different ways to make money using Coinbase.
The first way to make money with Coinbase is the easiest.
All you have to do is sign up for Coinbase using the button above to earn $5 worth of free Bitcoin!
In order to earn the $5, you will have to either verify your account or complete your first crypto purchase.
For those who are looking to study up on the latest cryptocurrencies, Coinbase may actually pay you to do so.
Here’s how Coinbase Earn works:
Viewing the videos is a smart move, especially if you are new to the world of cryptocurrency.
Keep in mind, Coinbase could suspend this offer at any time.
The third way to make money is to take advantage of the Coinbase Card, a Visa debit card funded by your Coinbase USD balance.
When you spend money, you will earn back a percentage reward paid out in a select number of cryptocurrencies. Based on which one you choose, the percentage reward varies.
Rewards are disbursed once a transaction is complete. This happens within 1-5 days for most transactions, but can take longer depending on the merchant.
The Coinbase Card is issued by MetaBank, Member FDIC.
The fourth way to make money using Coinbase is by investing in cryptocurrencies themselves.
Keep in mind, crypto markets are extremely volatile, meaning prices go up and down a lot. However, if the markets are in your favor, you can make money from buying and selling cryptocurrencies.
The idea here would be to buy low and sell high.
You do need to sell your crypto in order to realize the potential capital gain.
If you swap your USD for stablecoins within the app, you can earn rewards in the form of interest on those balances.
You can also lend out your cryptocurrency if you wish to earn a higher APY.
There are two options for lending on Coinbase:
Keep in mind, crypto deposits are not FDIC or SIPC insured.
Crypto lending is a bit more complicated, so it is highly recommended that you fully understand it before deciding whether or not to use it.