Leading wallet and exchange service Coinbase is to start paying cryptocurrency to its users as a reward for learning about cryptocurrency, according to reports emerging from the firm.
The novel move will see Coinbase publishing a series of free training modules and resources on cryptocurrencies like bitcoin and rewarding users through a program known as Coinbase Earn.
Users can earn cryptocurrency by completing challenges, such as passing quizzes and watching videos on crypto subjects, as part of a drive to increase levels of understanding around cryptocurrencies and supporting technologies.
The content will be available to both existing and prospective Coinbase users free of charge, with funds sent as payment for completing educational milestones. While the platform will launch to an invite-only list, anyone is free to sign up to take part.
According to a press release issued by the firm, Earn is the result of feedback from surveys of Coinbase users.
“One of the biggest barriers for people to explore a new digital asset is the lack of knowledge about that asset…Many of the people we spoke to expressed a strong desire to begin learning about new and different crypto assets beyond bitcoin, but didn’t know where to begin.”
Coinbase is pitching the opportunity as an alternative to mining or investing in crypto tokens directly, which will provide easier access for those new to the world of cryptocurrency and thinking about investing for the first time.
“Mining cryptocurrency typically means high setup costs and technical knowledge, while buying cryptocurrency requires disposable income to exchange for cryptocurrencies, which limits access.”
Users will initially earn 0x (ZRX) tokens, though Coinbase has said it will on-board other cryptocurrencies in future, along with more dedicated content for those taking part in the program.
Without the need for any equipment or any investment, Coinbase Earn will aim to introduce those interested in learning more about cryptocurrency to the ins and outs of the sector.
Coinbase Earn launched on December 19, and is still open to those who want to join the waiting list. According to the Coinbase Earn site, provided you’ve got a smartphone or laptop, you’ve got everything you need to participate.