Coinbase Earn Giving Away $50 Per Person in Stellar: Plans to Distribute 1 Billion XLM ๐จ This article is 6 years old...
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Coinbase Earn Giving Away $50 Per Person in Stellar: Plans to Distribute 1 Billion XLM
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Updated: Nov. 7, 2019 at 5:59 am UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Coinbase Earn, the exchange’s initiative that enables users to “earn crypto while learning about crypto,” has introduced support for Stellar. The company announced the news on its Twitter profile, saying that any eligible US user can learn about the Stellar protocol while earning up to $50 worth of XLM. The company plans on giving out 1 billion Lumens from the Stellar Development Foundation.
Coinbase Earn Expands Its Offer, Adds Support for Stellar
Continuing its streak as one of the most innovative cryptocurrency exchanges based in the US, Coinbase decided to expand the offer for its Coinbase Earn service. The exchange acquired Earn.com back in April 2018 as part of its plan to dominate the country’s blockchain sector. The $100 million acquisition gave Coinbase access to a large audience that used the platform as a way to earn cryptocurrencies for performing simple tasks.
In less than a year, Coinbase managed to transform the platform into a destination for people looking to expand their knowledge on cryptocurrencies and blockchain technology. Renamed Coinbase Earn, the platform enables users to learn about different coins and projects while earning digital currencies.
On Mar. 26th, the company announced that it has expanded Coinbase Earn’s offer by adding support for Stellar.
Today weโre launching our biggest Coinbase Earn opportunity yet. Any eligible US user can now learn about the Stellar protocol while earning up to $50 of XLM: https://t.co/omqa0Xuqhd pic.twitter.com/QNne9mScX9
— Coinbase (@coinbase) March 26, 2019
Coinbase Earn Will be Giving Away 1 Billion Stellar Lumens
Balaji Srinivasan, the CTO of Coinbase, said he was “proud” to announce the new developments at the company. In a follow-up tweet, he also added that the company’s acquisition of Earn.com, which then became Coinbase Earn, has brought in over $170 million in gross merchandise value.
This has enabled the company to onboard “millions of users into crypto,” as Srinivasan pointed out. While he didn’t provide any additional details, he did hint that Coinbase was working on more similar projects.
During the course of the Earn XLM event on Coinbase Earn, the exchange will award up to 1 billion XLM to its customers. All of the Lumens that will be given away were donated by the non-profit Stellar Development Foundation, the exchange said.
As the Earn XLM service will only be available to certain users based in the US, Coinbase is currently allowing all users to access the content made for the project.
You can sign up to earn XLM from Coinbase using this link.
Stellar Market Data
At the time of press 5:59 am UTC on Nov. 7, 2019, Stellar is ranked #11 by market cap and the price is down 1.17% over the past 24 hours. Stellar has a market capitalization of $1.3 billion with a 24-hour trading volume of $303.84 million. Learn more about Stellar ›
Crypto Market Summary
At the time of press 5:59 am UTC on Nov. 7, 2019, the total crypto market is valued at at $246.52 billion with a 24-hour volume of $100.62 billion. Bitcoin dominance is currently at 67.67%. Learn more about the crypto market ›
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Stellar
$0.27910
Stellar is a multi-currency payment backend that tens of thousands of people use every day.
Coinbase
Coinbase is a digital currency exchange and wallet service that allows individuals to buy, sell, and store digital currencies, such as Bitcoin, Ethereum, and Litecoin.
Stellar Development Foundation
The Stellar Development Foundation (SDF) is a non-profit organization founded in 2014 to support the development and growth of the open-source Stellar network.
Balaji Srinivasan is recognized for his influential roles in the tech and cryptocurrency sectors, most notably as the former Chief Technology Officer (CTO) of Coinbase.