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Coinbase Earn Giving Away $50 Per Person in Stellar: Plans to Distribute 1 Billion XLM

Coinbase Earn Giving Away $50 Per Person in Stellar: Plans to Distribute 1 Billion XLM

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

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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.

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 | XLM

Updated: Nov 7 at 5:59 am PDT
$0.07
-1.17%

Stellar, currently ranked #11 by market cap, is down 1.17% over the past 24 hours. XLM has a market cap of $1.3B with a 24 hour volume of $303.84M.

Chart by CryptoCompare

Stellar is down 1.17% over the past 24 hours.

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Priyeshu Garg
Author

Priyeshu Garg

Crypto Analyst @ CryptoSlate

Priyeshu is a software engineer who is passionate about machine learning and blockchain technology. He holds an engineering degree in computer science engineering and is a passionate economist. He built his first digital marketing startup when he was a teenager, and worked with multiple Fortune 500 companies along with smaller firms. When he is not solving transportation problems at his company (Ola), he can be found writing about the blockchain or roller skating with his friends.

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