How to earn crypto: Learning & Earning

What you'll learn

  • Why crypto projects pay you to learn about their service
  • The best opportunities from a effort/reward perspective
  • What the process involves
  • Earning from Browsing the Internet

In our last guide, we looked at faucets as a means of claiming free cryptocurrency in return for watching adverts and completing surveys.

As we noted, faucets are fine for getting a feel for how crypto works, but are limited in terms of the amount you can claim. If you’re serious about acquiring cryptocurrency without risk, you’ll need to look to alternatives for earning that promise a greater payout.

One such option is through the earning and learning system popularised by Coinbase.com. This has the dual benefit of gifting you with cryptocurrency, while also increasing your knowledge of how it can be used.

Here’s how it works, and the steps you can take to maximise your earnings as you learn.

How to earn while you learn

“Earn crypto while learning about crypto” is the simple slogan of the educational portal from cryptocurrency exchange Coinbase.

In return for watching videos and taking quizzes on cryptocurrency projects whose tokens are listed on Coinbase, you can earn a small portion of that token.

For example, you can earn $6 of MKR tokens for learning about how Maker works, and an impressive $59 of COMP for learning about Compound.

In total, close to $200 in cryptocurrency has been offered for completing the full range of projects and mini-educational courses Coinbase currently supports.

Coinbase is a trusted and regulated US exchange that will soon be a publicly listed company, and thus the quality of the content on its educational portal is high. Unlike many of the bitcoin faucet sites on the web, Coinbase’s platform doesn’t feel spammy, and the information you will acquire through completing its educational primers is very useful.

So what's the catch?

As always, though, there’s a trade-off when it comes to claiming something for free on the web. In the case of Coinbase Earn, you are required to register an account and verify your identity. This means supplying a driving license, passport or national ID card

It is for you to decide whether that is a price worth paying just to get your hands on $100 or so of free cryptocurrency.

Because Coinbase has applied for an IPO, and operates in the US, whose cryptocurrency industry is tightly regulated, it is obliged to comply with all official requests for user data.

609

What you would have made if you had earned all available awards from Coinbase Earn as soon as available and hodled

You might have heard about a controversial proposal by the Financial Crimes Enforcement Network (FinCEN) proposing that cryptocurrency wallets be linked to verified identities in the US. If this rule passes, it could mean that any cryptocurrency you withdraw from Coinbase Earn would have to be sent to a personal wallet that is linked with your Coinbase verified identity, which isn’t ideal from a privacy perspective.

This law may not pass, or may be watered so that it doesn’t cover low-value customer withdrawals, but it’s something you should be aware of. In the meantime, if you’re considering using Coinbase Earn, be mindful of the privacy trade-offs it carries, and may carry in the future.

The approach taken by Coinbase has been replicated with varying success. Coinmarketcap for example hastily put together a similar program, but the rewards were very small by comparison and the program poorly implemented.

CryptoDate AddedReward ($)Value At  LaunchValue NowReward Value Now ($)% Change
BAT06/02/2019100.11.08108980
ZEC15/02/2019351.43139.918.16172.04
XLM26/03/2019500.100.4200300
ZRX01/04/201930.341.6114.21373.53
DAI23/04/2019201.001.00200
EOS01/06/2019507.854.2627.13-45.73
XTZ06/11/201961.314.3820.06234.35
OXT18/12/2019520.340.69105.53102.94
COMP23/07/20209160.93383.6521.46138.40
CELO3/09/202064.323.895.50-9.95
ALGO16/11/202060.271.1625.78329.63
BAND09/12/202036.6513.486.08102.71
GRT10/12/202030.271.5417.11470.37
FIL10/12/2020630.7092.7218.12202.02
NU21/01/202130.210.598.43180.95
NMR26/02/2021337.0146.333.7825.18
Total$233$609.22161.46%

Earn crypto using Brave browser

There’s another crypto-friendly company that allows you to earn cryptocurrency, and you may have heard of it: Brave, the web browser that has its own token called BAT.

Brave is part of the attention economy which describes people giving their time to engage with content that brands would like them to see. Short for Basic Attention Token, BAT is rewarded to users who provide advertisers with their time by watching ads. 

You don’t get paid for watching an advert on YouTube or Facebook, but on Brave it’s different. As Brave explains, when you turn on Brave Rewards within the browser, you can earn “frequent flier-like tokens for viewing privacy-respecting ads. You can set the number of ads you see per hour.”

Watching ads isn’t most people’s idea of fun, and you’re not going to get rich off watching ads every hour. However, the Brave Rewards program is well designed and integrated into the web browser, and will help you learn about cryptocurrency wallets, and ways to use them, as you browse. The user experience is superior to that provided by bitcoin faucets that also force you to watch ads.

€10-20

What you can earn in BAT per month with average internet usage from the Brave Browser

Because Brave has created an entire economy based around BAT, you can even use the token to reward your favourite live streamers or to tip content creators.

Even if you decide against watching ads to earn BAT, you should find from interacting with Brave, earning, spending, and receiving crypto using the built-in wallet, is a great way to increase your knowledge and appreciation for what crypto can do.

With average browsing time you can earn €10-20 a month, which you might spend on NFTs and could be worth a whole lot more further down the road.

Compared to Coinbase Earn, Brave Rewards requires less personal information to sign up and participate. Thus, it’s the better of the two options from a privacy perspective if you’d like to earn crypto but don’t want to disclose all of your precious personal details to do so.

Summary

In this article, we’ve looked at two easy ways of earning crypto that don’t involve faucets, forks or airdrops. Coinbase Earn and Brave Rewards are well designed products from well established companies that deeply understand crypto. Both products will help to increase your crypto knowledge, in addition to awarding free tokens:

  • Coinbase through making you watch videos and take quizzes about specific crypto projects
  • Brave through helping you become familiar with using a cryptocurrency wallet as you browse the web

Neither of these solutions is perfect from a user perspective though. Coinbase requires you to fully verify your identity, and have reduce the scope of their reward scheme. Brave Rewards, meanwhile, involves watching ads, and it will take a long time to earn a reasonable number of BAT.

In our next guide, we’ll look at ways you can earn more significant amounts of crypto, through participating in referral, bounty and affiliate schemes.

Next step: Earning by promoting crypto

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