In April last year, Coinbase made a $100 million acquisition of Earn.com. The firm started out as 21 Inc and used to be a Bitcoin mining start-up before it evolved. Today it is now called Coinbase Earn which is a service that allows its users to make money for acquiring knowledge about cryptocurrencies.
An announcement has been made that Stellar’s XLM will now be one of the cryptocurrencies users have the opportunity of earning.
According to a tweet from the official Coinbase Twitter,
“Coinbase Earn is working with the Stellar Foundation to distribute one billion Stellar Lumens (XLM). 100% of the funds are going directly to Coinbase users to teach them how to use the Stellar protocol.”
Before the integration of XLM, users could earn ZRX, BAT, and ZEC. Now, one billion Stellar Lumens – worth about $100 million at $0.106 per coin, has been earmarked to reward users who sign up and go through the learning program. Users are expected to take a test on the asset learned after watching informative videos and when passed, earn crypto. Users are also allowed to take the test as many times as they like.
Who is Qualified to Earn?
At this time, Coinbase Earn will only pay users who are legally resident in the United States. Any U.S. resident who successfully passes the quiz after learning from the videos will be paid $10 worth of Stellar Lumens XLM. Furthermore, customers who are eligible to earn could also make up to $40 if they successfully convince others to join the program. The amount earned from each successful referral is pegged at $10.
Customers who are not resident in the U.S. are welcome to watch the videos and learn from them. However, these people will not earn any money like their U.S. counterparts.
How Stellar Might Benefit
Stellar hopes to make payment systems and transactions as seamless as possible. The Stellar Protocol is being pushed by the firm as a fantastic way to make token versions of already existing fiat currencies like the euro and the U.S. Dollar. So, Stellar anticipates that this program will appeal to more developers, charming them into developing more creations on the Stellar Network.
Initiatives like this will intensify the conversation around cryptocurrency, especially among people who are not very familiar with the market or are very circumspect about it.