How to earn crypto rewards
As the world of cryptocurrency expands, there are now more options available to earn rewards for holding crypto, learning about crypto, or using decentralized finance (DeFi) apps. Many of these opportunities can be found within the Coinbase app or website, while others require the use of a wallet with a built-in DeFi browser, such as Coinbase Wallet. In this article, we will provide an overview of some of the top ways to grow your crypto through rewards.
1. Coinbase learning rewards
If you want to earn rewards in the form of cryptocurrencies, you can start with Coinbase Earn, which is very easy to use. By watching brief educational videos about specific cryptocurrencies, you can receive a small amount of those cryptocurrencies as a reward.
Coinbase Earn has been available since 2018, and users have received more than $100 million worth of cryptocurrencies, including 0x, Basic Attention Token, Zcash, Stellar Lumens, EOS, Dai, Tezos, Orchid, Compound, Celo, Nucypher, and the Graph.
2. Stake some of your crypto
Proof of Stake is a consensus mechanism used by many cryptocurrencies to ensure that transactions are verified and secured without the involvement of a bank or payment processor. With these cryptocurrencies, you can earn rewards simply by contributing to the network’s security through staking, where you lock some of your holdings into a staking pool for a certain timeframe in exchange for rewards.
Coinbase users can stake Tezos, Cosmos, or ETH via the main app or website, and earn up to 6% APY (depending on the asset being staked) as of June 2021. This is a good option for those who plan to hold onto their crypto for an extended period since they can put their assets to work and earn rewards rather than letting them sit idle. More information can be found at coinbase.com/staking.
3. Turn your dollars into stablecoins
Staking rewards may have a potential downside, which is that they are paid in the native cryptocurrency, which can be volatile. However, you can earn rewards by buying and holding dollar-pegged stablecoins like Dai and USD Coin (USDC).
As of June 2021, you can earn 2.00% APY rewards by holding Dai in your Coinbase account. You can also earn 0.15% APY for holding USD Coin, and even more via USDC Lending (see tip №4).
4. Lend some of your crypto with CeFi
Investing in traditional savings accounts to earn significant yield can sometimes be difficult. However, stablecoins have made it possible to achieve a similar goal. Recently, many centralized finance (CeFi) products have been introduced that provide attractive yields for holding some of your crypto assets in stablecoin form. Coinbase users who are interested in low-risk investments can start earning 4.00% APY through USDC. However, it is important to note that crypto deposits are not insured or guaranteed by the FDIC or SIPC.
5. Lend some of your crypto with DeFi apps
For those comfortable with higher risks in pursuit of higher returns, DeFi apps offer a way to lend some of your crypto for potentially attractive yields. However, it’s important to remember that DeFi is still an emerging technology, so it’s best not to invest more than you can afford to lose.
DeFi enables transparent, peer-to-peer lending that can offer higher yields than traditional financial products. Investors who lend their cryptocurrency to DeFi lending protocols earn rewards for lending to borrowers. To use DeFi apps, you’ll need a crypto wallet that is compatible with DeFi, like Coinbase Wallet, which is a separate product from the main Coinbase app and can be used by anyone. Using Coinbase Wallet, you can try lending some of your crypto, starting with a stablecoin, through DeFi protocols such as Compound or Aave.
RoboFi (https://robofi.io/home/) is a Defi platform that envisions a marketplace for revolutionary Dao crypto trading bots. Through its IBO (Initial Bot Offering) system, community members can maximize their earnings in an easy, simple, and secure way. We create a safe and transparent environment based on blockchain technologies that help developers bring crypto trading bot platforms to the market. In addition, individuals will have easy access to these bot applications, thereby generating more earning opportunities. RoboFi ecosystem is fueled by the VICS token.
VICS token has a distinctive and enticing concept. VICS is the BEP-20 token, built on the Binance smart chain. It is a core utility token in the RoboFi ecosystem, the reliable crypto trading bot marketplace. One important utility is to own the governance token of DABots and participate in an IBO (Initial Bot Offering) to receive additional incentives. VICS is available on major exchanges for trading.
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