- Coinbase is one of the cryptocurrency exchange giants that make trading of digital assets easy and profitable.
- The users of Coinbase get the opportunity to make extra money using many features.
Coinbase is a major exchange that facilitates crypto trading in many ways. This high-end trading platform has been designed to exceed the expectations of investors. Besides exceptionally delivering the basic services, it also outperforms on several other fronts. One of the most notable factors of this high-end crypto exchange is its profitability for users. Coinbase offers some unique ways that users can deploy to make good money.
Here’s How Coinbase Lets Users Make Money
The following are some methods that let Coinbase users yield potential earnings.
Learning Rewards
Coinbase brings learning close to earning through its unique “Coinbase Earn” feature. The platform urges its users to learn the basics and helps them earn in return. The users can find several video tutorials that make learning easy for everyone. It has notably doled out over $100 Million so far under this program.
Staking Feature
The number of crypto users opting for “staking” for passive income is growing day by day. Coinbase also lets its users dabble with staking and earn as much as 6% APY. Using either the website or app, they stake cryptos like ETH, Cosmos, or Tezos.
Fiat Conversion Into Stablecoins
Staking is quite an attractive option, but it’s got a downside too. When one stakes their digital assets, they receive the returns in their native crypto. And that couldn’t have been an issue if there was no volatility. But Coinbased makes it easy by letting the users stake dollar-backed stablecoins. By holding coins like USB Coin (USDC) and Dai, users can earn up to 2% APY.
Lending with DeFi
Lending cryptos through a DeFi is quite popular in the crypto community these days. Using the dedicated apps, token holders can take advantage of this service whenever they want. The DeFi environment provides a transparent and peer-to-peer structure that up the chances of higher yields. However, it is a budding space so the users need to check the options well.
Lending with CeFi
The lending of crypto assets works well in the centralized finance (CeFi) setting too. A growing number of CeFi products are making this service more accessible. Moreover, the Coinbase customers enjoy a low-risk investment along with the chance to earn 4% APY.
Cashback Through Coinbase Card
Coinbase Card is a free crypto debit card that comes with many unique attributes. One of them is limitless cashback rewards that keep boosting the customers’ wallets. The rate of cashback could waver from 1% to 4% based on various factors. In addition, customers can spend them in the form of crypto as well as fiat worldwide.
Trading Altcoins
When trading gets diverse, it starts generating more profits too. That’s what Coinbase does with its “trade futures” option. This derivatives service is available in select regions only but it can be very profitable for expert traders.
Using Coinbase has been a pleasant experience for plenty of crypto users. This platform simplifies the usage of digital assets and makes them more adaptable. Due to all these merits, the exchange has earned a huge user base and their trust. However, crypto investors must be more vigilant before choosing any platform.
Disclaimer
This article is only for information purposes and does not promote any type of investment, it is strictly suggested to do your research before investing or to consult with investment professionals.