Coinbase recently announced their intention to help educate the public about cryptocurrency. Through the Coinbase Earn program, users will receive crypto assets to help them learn.
In a blog release yesterday, Coinbase announced t the new program. The program aims to reward new crypto users by paying them small amounts of cryptocurrencies to complete educational tasks like videos and quiz questions.
The idea is for users to understand more about an asset’s utility and its underlying technology, while getting a bit of the asset to try out.
At the moment, the program only exists for ZRX tokens. Although Coinbase plans on branching out in the future. The program is also currently on an invite-only basis. But interested parties can still access the material for free, and join a waitlist to fully participate in the program in the future.
Current public confusion
Cryptocurrencies are confusing to people on the outskirts of the sector. Coinbase research found people to be largely hesitant toward assets they did not understand. However, the people surveyed did want to learn about cryptocurrencies other than bitcoin but did not know how to go about it.
The Coinbase Earn program allows interested folks to learn about crypto assets while being able to tinker with them, applying their new-found knowledge. This first round of the program received ZRX funds for the program from the 0x Core Team, as stated on their own blog release yesterday.
The 0x Core Team has allocated 1,600,000 ZRX tokens from our external development pool for the initiative. 100% of these tokens will be distributed to Coinbase Earn participants.
Crypto Twitter’s response
Crypto twitter had mixed feelings on the whole announcement. Notable bitcoin maximalist Jimmy Song looked at the event negatively, stating the 0x donation as a listing fee.
In other words, @coinbase is now taking listing fees for their Coinbase Earn service.
Even if they gave 100% of what they received to the users, it's still a listing fee as Coinbase gets a significant benefit from free distribution of tokens. https://t.co/6MRL0lxI6b
— Jimmy Song (송재준) (@jimmysong) December 20, 2018
A spokesperson for Coinbase told The Block that Coinbase will be scaling up Earn.com via Coinbase Earn, piece by piece. According to the spokesperson, ‘[t]he first piece is today. Beyond that, we don’t have specific plans to share at this time.’
Coinbase announced the launch of Coinbase Earn where users can earn small amounts of crypto for educating themselves on different assets.
— Larry Cermak (@lawmaster) December 19, 2018
Some members of Twitter expressed skepticism toward the new initiative, expecting the newly rebranded Earn.com to fail.
— Amy Castor (@ahcastor) December 19, 2018
While other speculators worry Coinbase Earn could be a gateway for further scams.
BOLO ? for fake invites that contain malware everyone
— ?DenverBitcoin? (@denverbitcoin) December 20, 2018
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