In this episode I cover 6 ways to make money on Coinbase. A few of these are really simple ways you can use to actually earn FREE cryptocurrency which is really cool. Enjoy this quick beginners guide on how to make money on Coinbase, and get started with my links above if you want to invest.
✅ Sign up on Coinbase through my link for $10 free Bitcoin: https://www.coinbase.com/join/tseung_…
✅ Store your cryptocurrency on the Ledger Nano X for security purposes: https://shop.ledger.com/products/ledg…
Transcription
Below is a transcription of the podcast. This transcription was taken from Otter.ai so it might not be completely accurate:
Hey guys Sharon from digital nomad quest and today we’re gonna go over six ways to earn money on Coinbase now if you guys are new to this channel welcome I’m all about teaching how to build passive income become financially free and design your best life so if you guys are interested in that make sure to subscribe and hit the bell button to be notified on my latest videos. So in this episode I’m going to go over different ways you can earn free cryptocurrency I’m also going to briefly go over why cryptocurrency why coin base and I’m also going to talk about investing strategies to help you earn money while you’re investing in cryptocurrency. First of all, cryptocurrencies definitely been getting a lot more attention lately. A lot of people think it’s going to be the future. Cryptocurrency makes it so that transactions can be safe, reliable, also cost efficient and fast. Basically, they would be able to remove the middlemen when it comes to transactions like banks and ATMs. They’re also relying on a technology called blockchain which is decentralized, meaning that there is no single entity controlling it. That means it’s giving a lot of power back to the people also, most coins have a limited supply. So more money can’t just be printed out when there’s debt which would cause inflation and decrease the purchasing power of money. So there are a lot of benefits to cryptocurrency. However, obviously it comes with risks. cryptocurrency is really volatile right now. And it lacks regulation. So this is not financial advice, all for informational purposes only. And make sure you do your due diligence and stay careful. Now let’s go over Coinbase Coinbase is a very easy to use platform super friendly UI is Silicon Valley company. And as a 2021, it’s available for users in over 55 countries is backed by trusted investors that recently IPO. So I highly recommend Coinbase make sure to check out my link in the description below where you can get $10 of free bitcoin. And that actually takes me to point number one. So number one, you can get free crypto by just signing up with my link below. So I’m going to actually screen share with you now what that looks like. So now I am screen sharing. And once you click that link, you’re going to be directed here, where it says if you by yourself $100 Or more of crypto, you’ll receive $10 worth of free bitcoin, which is freakin awesome. And then when you’re signing up for your account, you’ll put in your first name, last name, email password, you also set up your two step verification code, and then later, you’re going to need to provide your last four digits of your Social Security as well as photo ID like a driver’s license. And this is to be in compliance of KYC laws, which is know your customer laws. And this is to prevent illegal financial activities. I know it seems sketchy to you know, have to provide your social security number. But all these exchanges basically require it. So you’re going to have to go for it if you want to invest. And then after you’ve set up your account, there are three levels of verification for Coinbase that you’re going to want to hit level one you verify your phone number level two, you verify personal information, level three is that photo ID and that’s going to allow you to send and receive cryptocurrency. Now once you’re in, I’m showing you my dashboard now, but let’s go into the different rewards again. Okay, so number two, you can actually make money from taking quizzes. So you’re going to tap earn rewards here. And I don’t have it in this dashboard here because I’ve already taken those quizzes but basically there’s something called Coinbase earn that is teaching you lessons about each crypto coin. There are going to be little short video lessons and then you answer questions about it. It literally takes like one minute and then you end up getting like $10 a stellar lumens or something like that. I’ll show you a screenshot here of the notifications I got when I started taking those quizzes took me like five minutes I got a bunch of free cryptocurrencies I was super excited about it. Back in the day, they used to actually offer like hundreds of dollars for doing this, but they’ve lowered that amount a lot because a lot of people are getting into this now but it’s not too late. Definitely go ahead and you know, take those quizzes and get that free cryptocurrencies pretty awesome that you can do that quizzes are really short and you learn more about the coin as you are taking those lessons. Number three, you can refer people okay, so every time you refer people as you see here, you will both get free bitcoin when that friend buys or sells $100 of crypto, you will also get $10 in Bitcoin every time you refer someone so there’s a lot of people who haven’t started investing in cryptocurrency, think about your friends, family, send them invites, let them know that if you sign up you guys both get some money here that link in my description. If you guys sign up with it, I do get $10 of free bitcoin. So thank you so much. If you do decide to use that link, you don’t have to but we’ll both benefit from it. Number four, there
are recurring rewards, I’m going to show you that now. So you can set up a recurring buy reward and basically if you buy $50 or more, you will earn $10 After both your fourth and eighth recurring buys, I’m going to just show you this right now. I’m going to do it for you guys. So you can choose every day every week first and 15th of the month, every month. I’ll just do every month just to show you guys and I’m just going to buy right now. Okay, I just wanted to show but it’s a good way to start investing and I’m gonna go ahead and click Buy now. And now my order was submitted. So it’s actually very fast to do it. My bank account was already linked by all you had to do is basically link your bank account or card number. If you go here you can basically do bank account or debit card or wire transfers in order to start buying Bitcoin really quickly. should notice that like when I bought that $50 It did take a $2 fee so make sure you know there are fees when you are buying crypto Okay, so now as you can see I’ve set up that recurring buy and then I will get rewarded after my fourth and my eighth recurring buys are completed, I’m actually going to talk more about why recurring buys are good later in this video number five, you can earn money through staking so staking is a way of securing and verifying transactions, there’s two different types when it comes to verifying transactions. There’s proof of work and proof of stake proof of work is what Bitcoin uses. But we’re gonna talk about proof of stake here. Basically, proof of stake takes less energy, proof of work takes a lot of energy consumption with Bitcoin, right. So proof of steak, less energy consumption, and it’s easier to set up. That’s why a lot of people do prefer proof of stake. Now I don’t want to get too technical. But basically, when you are staking it, you’re locking it and then stakers will approve and verify transactions, and then the network will provide staking rewards. And that’s where this comes in. So as you can see Kosmos gives you a 5% reward tezos gives you a 4.63% reward dye gives you 2%. And USD coins are point one 5%. And it’s basically like getting interest in a savings account or something like that you get 5% interest when you put it in here. So if you want to you can add Cosmos, and you can get those rewards as well. So we’ve gone over a lot of different ways to start making free crypto on Coinbase. And then lastly, the obvious way to earn money on Coinbase is to invest your money into cryptocurrency. So let’s just go back to my homepage, I’m going to show you a bit of my dashboard. Coinbase is one of the exchanges I use. I also use binance, Bittrex and Bitstamp I had to get on those exchanges to get certain alt coins that weren’t offered in certain exchanges. Like it was kind of complicated because I bought in 2017. And they didn’t offer that many coins yet, so I had to kind of do different things to get those different coins. So I would recommend getting on Coinbase though, like I mentioned in this video, it’s one of the main ones I use. And it’s easy to use super friendly and trusted and backed by tons of investors. Now I invested back in 2017. And then it went up a good amount. If you look here in my portfolio, I have some here that a lot of my alt coins aren’t here. But basically, a lot of it is in Aetherium and Bitcoin and Litecoin I’m probably going to invest more in Bitcoin and Aetherium over time and probably Cardano there’s some other ones that I like as well. I’ll probably make another video about crypto that I like these other ones were some from actually the rewards that I mentioned earlier, when you taking quizzes, like x LM, these other ones go make sure you do those quizzes because it’s pretty cool to get free cryptocurrency. Now going back to my dashboard and portfolio obviously went back down a lot everyone was like all hyped up here and then it kind of died down. But now it’s reached highs, you know, bitcoins reached highs of like over $63,000 Which is super crazy. We can go to the Bitcoin levels here. You know, right now it’s around 54,000 As of this video, but the crazy spike, you know, people were holding on since 2014. And just like Holding, holding, and then they freaking rich. Now, you know, if you held one bitcoin back in the day, like a few $100, you’d already have 50 to $60,000 Imagine you, you know, 10x thing or 100x thing that that’d be freaking crazy. However, I
don’t think it’s too late to get in the game. But you know, not financial advice. But I think there’s a long way to go because Bitcoin does have a maximum supply. And a lot of it has already been mined. So I think it’s just going to get more and more valuable over time. Now I mentioned that I wanted to talk about an investing strategy for you. Yes, so I want to talk about dollar cost averaging. So instead of trying to time the market, basically dollar cost averaging is a strategy where you’re basically dividing up the total amount you would invest into periodic purchases. So maybe you want to invest like $10 Every week or $50 Every month, you can determine that timeframe, it could be every day, that’s where the recurring buys come in, which is why I just set it up, right, it’s good to do that, you know, dollar cost average, just put it in for $50 a month. And you can see how it’s going to go if you do that the idea with dollar cost averaging is that the average that you’re going to spend over time, like when you’re buying the dips, as well as possibly the highs, the idea behind it is that you’re more likely to do better doing that than trying to time the market because it’s really hard to time the market. So for example, even if you invested earlier, like at the $10,000 range and kept putting in like $50 Every time it would have grown significantly here. So that’s kind of the idea behind dollar cost averaging, you’re just putting in recurring buys. And then the idea is over time, it’ll do well even if there are dips and highs so you’re just continuously putting in that money. So it could be a good idea to get those recurring buys in that do that dollar cost averaging strategy, and you’re going to earn some rewards by doing it as I mentioned earlier. Now I hope you guys liked this episode on how to make money on Coinbase. They’re all Different ways to make some free crypto and there are other platforms that you can do that as well. I will actually start talking about them in later videos so that you can get some other free rewards. I personally am going to be investing more my portfolio in cryptocurrency as I’m studying it more and more and learning more about it I definitely don’t advise buying because of hype I definitely think that when you are investing you need to understand the fundamentals so that you can invest wisely and I hope to talk more about cryptocurrency on my channel so that you can do just that. Now if you guys liked this episode, make sure to smash the like button comment below and let me know if you guys did start with Coinbase and which cryptocurrencies you are investing in subscribe, hit the bell button to be notified of my latest videos. And I’ll see you guys in the next one.
Transcribed by https://otter.ai
