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Earn Crypto While Learning About Crypto – Coinbase Quiz Answers
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Earn Crypto While Learning About Crypto – Coinbase Quiz Answers

By February 1, 2021 March 5th, 2021 One Comment

As we all continue to navigate through uncharted digital waters, making sense of headlines around Bitcoin, cryptocurrency and blockchain can be incredibly daunting. It can also be difficult to separate fact from fiction and knowing who you trust in a crypto world that is currently unregulated.

It’s not too hard to find parallels between the Blockchain Economy and the early days of the Internet. I clearly remember Bill Gates and David Bowie being mocked on television for providing a vision of how the internet will transform our world. We all know how that story ended. I have observed how repeated headlines have declared that Bitcoin is dead for the last eight years and other content spreading fear, uncertainty, and doubt. But blockchain and cryptocurrencies are here to stay.

The success of any emerging technology is determined by mainstream adoption. In an industry where the mantra has been “question everything you read and do your own research” I wanted to try and help listeners to my daily tech podcast learn more about how cryptocurrencies work and earn a little currency for free too. How does that sound?

Coinbase is a digital currency exchange headquartered in San Francisco that some techies call “The AOL of Crypto” But, it’s the perfect place to start and learn without the fear of being sneered at. Coinbase Earn enables you to earn free crypto by completing a few short quizzes on cryptocurrencies. Before investing your own money, it’s a great way of earning free crypto, and who doesn’t like free money?

Coinbase Referral Bonus: If you sign up to Coinbase with my referral link, you will also get $10 (or local currency equivalent)

Coinbase - Earn Crypto While You Learn Crypto Quiz Answers

How to earn crypto while you learn about crypto.

First of all, go to Coinbase and create an account. It can take up to a day to get verified but once you are set up you are ready to learn about crypto by going to Earn Rewards. Within a few hours, you will know the difference between OX, BAT, ZEC, and XLM. You will also add your first cryptocurrencies to your portfolio without it costing you anything.

CoinBase Earn Quiz Answers

To save you time, I have included all the answers to all of the Coinbase quizzes

Algorand (ALGO) Coinbase Quiz Answers

  1. By being scalable, secure, and decentralized

  2. A randomly selected ALGO token

  3. Algorand Standard Asset (ASA)

BAND Coinbase Quiz Answers

  1. Real World Data

  2. Oracles

  3. Earn Crypto Rewards

Basic Attention Token (BAT) Coinbase Quiz Answers

  1. There are too many ads and data trackers

  2. It is a free, open source web browser built for privacy

  3. Users get paid BAT for viewing opt-in ads, and publishers get rewarded when users pay attention to their content

Celo (CGLD) Coinbase Quiz Answers

  1. By making crypto accessible on mobile phones

  2. Staking, governance

  3. Using the Valora mobile app

Compound (COMP) Coinbase Quiz Answers

  1. Earning interest on your crypto

  2. Supply a crypto asset as collateral

  3. COMP token holders

Dai (DAI) Coinbase Quiz Answers

  1. A decentralized stable coin that aims to be worth one US dollar

  2. Decentralized and borderless

  3. Open a CDP with Maker

EOS (EOS) Coinbase Quiz Answers

  1. A blockchain protocol for fast, scalable applications

  2. Delegated proof of stake

  3. Fast, free transfers

  4. Stake EOS tokens

  5. Upgradable smart contracts

Filecoin (FIL) Coinbase Quiz Answers

  1. A decentralized marketplace for data storage and retrieval

  2. Proof of replication and proof of spacetime

  3. By its content

Graph (GRT) Coinbase Quiz Answers

  1. Blockchain Data

  2. GRT

  3. Curators

Kyber (KNC) Coinbase Quiz Answers

  1. Exchange one Ethereum token for another

  2. Ethereum

  3. Liquidity

Maker (MKR) Coinbase Quiz Answers

  1. MKR and DAI

  2. MKR Holders

  3. A crypto wallet and crypto collateral

Orchid (OXT) Coinbase Quiz Answers

  1. A peer-to-peer privacy tool

  2. The OXT token, a Web3 wallet, and the Orchid app

  3. Support for multi-hop configurations between bandwidth providers

Ox (ZRX) Coinbase Quiz Answers

  1. To create a tokenized world, through the frictionless, peer-to-peer exchange of tokens

  2. A new way to trade tokens and cryptocurrencies with other people

  3. It can be used to pay relayer fees and participate in protocol upgrades in the future

Stellar Lumens (XLM) Coinbase Quiz Answers

  1. A decentralized protocol that unites the world’s financial infrastructure

  2. Facilitating low-cost, universal payments

  3. Transactions are fast, inexpensive, and global

  4. To issue and exchange tokens quickly

  5. It relies on the cooperation of trusted nodes

Tezos (XTZ) Coinbase Quiz Answers

  1. Formal verification

  2. A decent computer, an Internet connection, and 1 roll of Tea (8,000 XTZ)

  3. The formal governance process

Zcash (ZEC) Coinbase Quiz Answers

  1. A privacy-protecting crypto

  2. It keeps your financial info safe so it can not be sold

  3. Through a cryptographic breakthrough known as zero-knowledge proof

What do I do with my free crypto?

Congratulations, you now have a crypto portfolio. What you do next will depend entirely on you. You could save them for a rainy day and follow the progress of each coin. Coinbase will also allow you to convert your earned coins and convert them into other cryptocurrencies like Bitcoin. You can even sell them.

However, Coinbase is also known for its high fees. As a rule of thumb, you don’t get charged any fees for converting one crypto coin to another (e.g., XLM to Bitcoin). But there are fees when exchanging cryptocurrencies for your local currency (e.g., XLM to USD).

Remember that the higher the value of the transaction, the lower the percentage fee you’ll pay. So you could convert all your new currencies to a single cryptocurrency such as Bitcoin and then exchange them all for your local currency in one go if you wanted to cash out. But I suspect you are reading this to build a portfolio, not cash out a few dollars.

How To Earn Referral Rewards

Coinbase will also encourage you to earn additional cryptocurrencies and rewards by referring your friends. Sometimes you will be offered opportunities to refer a limited number of friends to learn about cryptocurrencies. For example, I have a limited $50 referral offer for XLM Special Access. Welcome to the brave new world of crypto.

What other cryptocurrencies would you like to learn more about? Let me know as it will help me create more content in the future. If you have any questions, feel free to contact me.

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