Investing Simple Logo
Menu
Get Started on Robinhood With 1 Free Stock!
Robinhood is offering new users 1 free stock worth between $3 and $225 when you open an account and fund it with any amount of money.
Written by Cari Scribner on August 10, 2021
Category: 
FTC Disclosure

How To Make Money On Coinbase In 2021

Cryptocurrency is a digital currency that utilizes cryptography as a means for protection and security.

It can be exchanged over the internet around the globe. Transactions can be made without the need for government agencies or financial institutions. By eliminating the middleman, cryptocurrency can flow quickly and safely.

Coinbase is one of the foremost, longest running cryptocurrency exchanges around the world. Since its launch in 2012, they have provided a secure, simple way to purchase crypto using bank cards, PayPal, wire transfers, debit and credit cards.

They currently have more than 56 million customers and are in over 100 supported countries. The company is headquartered in the US with many global offices.

In order to begin trading on Coinbase, you will have to set up an e-wallet for buying and selling cryptocurrencies. Users must also be able to link a valid bank account before they are allowed to purchase crypto.

There are some helpful tips for making money on Coinbase, especially if you’re a beginner. Let’s run through them now.

coinbase phone

The Coinbase Free Bitcoin Promo

The first way to make money on Coinbase is to take advantage of their free Bitcoin giveaway before they pull the plug. This promo does not have a stated end date, meaning Coinbase can shut it down any time they choose.

The promotion is offering up to $158 in cryptocurrency to new members that watch short videos and complete brief quizzes testing their new knowledge about cryptocurrencies.

Here’s how the free Bitcoin promotion works:

  • Coinbase has created several brief educational videos to teach you about different cryptocurrencies
  • Watch them, then complete a simple quiz testing the knowledge that you have learned
  • You will receive crypto into your Coinbase wallet for every video and test you complete
  • Again, this is a limited time offer that can be withdrawn at the discretion of Coinbase

Viewing the videos is a smart move, especially if you are new to cryptocurrency and will benefit from the insider tips in the videos.

You will need to use an exclusive Coinbase Promo code to claim your free cryptocurrency by signing up and watching the educational/promotional videos.

Do Your Homework

The second way to make money on Coinbase is through studying. By taking advantage of the learning links on the platform, members can actually earn free crypto. Updated daily, this section features beginner guides, practical tips, and market updates for first-timers, experienced investors, and everyone in between.

Some of the most recent topics have included:

  • When is the best time to invest in crypto? When prices are fluctuating, how do you know when to buy? Learn about using dollar-cost averaging to weather volatility
  • From avoiding Fear Of Missing Out (FOMO) to having a plan, 5 key ways to manage a crypto down cycle
  • What you need to know to set up a crypto wallet
  • How to minimize your losses and even make savvy moves during a falling market
  • Learn the lingo. From diamond hands to the flippening, crypto slang explained
  • Did you buy, sell, use, or trade crypto? If so, you may owe taxes if you’re a US taxpayer. A close look at what that could mean, the steps you may have to take, forms you’ll need, and how gains and losses may affect your taxes
  • Fear, uncertainty and doubt (FUD) are common terms in the crypto world, and can have a strong influence on buying and selling decisions. How to avoid the FUD trap.
  • How to read candlestick charts. When researching assets, you may run into a unique form of price graphs called candlestick charts
  • Interview with an investor who got in when Bitcoin was $20. Longtime trader Ray Tong shares practical advice for both new and experienced investors

Earn Crypto When You Spend Crypto

The third way to make money is to take advantage of the Coinbase Card, a Visa debit card, funded by your Coinbase balance. It can be used at millions of locations around the world.

Reap the benefits for signing up for a Coinbase Card. You can select your preferred rewards offer from the options Coinbase provides. When you open your account, you’ll be able to choose between receiving 4% XLM back or 1% BTC back on your purchases made with the Coinbase Card.

Once you select a rewards offer, it will apply to all of your card spending regardless of the crypto being spent. You can change your selected rewards option anytime directly from the app.

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.

Note: ATM withdrawals and cash back transactions are not eligible for rewards.

Some of the card’s features may also help you stay financially organized. With spending summaries, transaction receipts, and instant notifications, the Coinbase Card app makes it easy to manage your money on the go.

Spending US currency with Coinbase Card carries no fee, but using any other crypto has a 2.49% transaction fee on all purchases. Coinbase will sell your cryptocurrency each time you make a purchase, which is why there's a fee for crypto purchases.

The Coinbase Card is currently available in the United States as well as select European countries. According to the company website, they are now working on expanding to other nations.

The Coinbase Card is issued by MetaBank, Member FDIC, pursuant to a license from Visa US.

coinbase earn crypto

Take Advantage Of The Coinbase Wallet

When you’re carrying around actual cash, you probably store it in a wallet. However, crypto is intangible, so you can’t just tuck it into a pocket.

The next way to make money on Coinbase is to sign on to the Coinbase Wallet app, a separate, standalone app that allows users to store their own crypto, and research buying and selling options.

The wallet is easy to use with a simple interface, supports hundreds of coins and easily connects to Coinbase exchange accounts.

You do not need a Coinbase account to use the Coinbase Wallet app. Coinbase Wallet helps users manage their own private keys and store their crypto assets directly on their devices, rather than with a centralized brokerage or exchange. You can download and use Coinbase Wallet anywhere in the world.

Keeping your cryptocurrency organized is a solid step to help you make wise trading moves.

Conclusion

Coinbase is the leading virtual asset exchange platform in the world. Overall, Coinbase has an excellent reputation and is highly respected in the trader community.

There are several ways to make money on Coinbase. By watching short educational videos and then taking brief quizzes, members can earn up to $158 in cryptocurrency. Members can also take advantage of learning all you can from the free articles, videos, blogs and tutorials on the Coinbase site.

Account holders can also earn rewards back when they sign up and use the Coinbase Card. Furthermore, utilizing the Coinbase Wallet is a great way to keep your crypto organized.

Best Crypto Promotions

ExchangePromotionLink
BlockFi$15 To $250 Free Bitcoin (Deposit Bonus)Download
Trade cryptocurrency with CoinbaseFree $5 Bitcoin Download
robinhood vs m1 finance review. investingsimple.comCommission Free Crypto TradingDownload
Coinbase featured image
Article written by Cari Scribner
Cari Scribner is a career journalist with 20 year’s experience writing for newspapers and magazines. Now a freelance writer, she is also a published fiction writer with more than 15 short stories in literary mags. She recently completed a novel that is on the desk for consideration at two publishing houses. She lives with her two small dogs, Miloh and Lucy, in Upstate NY.

Latest Posts

Power Your Investing

Choosing the right product and service is essential for your investing. Here are some of the tools and services to help your portfolio grow.
Robinhood
Robinhood provides an easy-to-use free trading platform for beginner investors. Robinhood has $0 account minimums. Get a free stock when you open an account below.
Try Robinhood
M1 Finance
M1 Finance offers a free investing platform where users can build portfolios of stocks and ETFs. Users can also choose from a variety of pre-built portfolios offered for free.
Try M1 Finance
Fundrise
Passively invest in private real estate deals with as little as $10. Fundrise allows you to own residential and commercial real estate across the U.S. starting at a 1% annual fee.
Try Fundrise
© Copyright 2018 - 2020 Investing Simple LLC. All Rights Reserved. Investing Simple is a financial publisher that does not offer any personal financial advice or advocate the purchase or sale of any security or investment for any specific individual. Members should be aware that investment markets have inherent risks, and past performance does not assure future results. Investing Simple has advertising relationships with some of the offers listed on this website. The information on Investing Simple could be different from what you find when visiting a third-party website. All products are presented without warranty. For more information, please read our full disclaimer.
Developed by Stallion Cognitive
magnifiermenucross-circlechevron-down-circle
linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram
Copy link
Powered by Social Snap