Coinbase Plans to Sunset $100 Million ‘Earn.com Portfolio’ to Focus on Coinbase Earn in 2020
Coinbase is planning to phase out Earn.com from their product portfolio and users have up to February, 2020 to make all withdrawals. The exchange had acquired this micro-task platform back in 2018 at around $100 million which was considered a significant investment within the crypto industry at the time.
A recent email was sent out to Coinbase investors whereby they were notified of the move. Coinbase noted that they will put more focus on ‘Coinbase Earn’ than the Earn.com, which has been in operation for quite a while. The product was designed to create an avenue for the learning and earning of individual cryptocurrencies as more industries integrate FinTech.
According to Coinbase, the new strategy for the “sun-setting” of Earn.com will probably yield better results given the potential of their newest alternative focus. Coinbase says millions of dollars have been distributed to Coinbase Earn participants since the initiative kicked off. In addition, users from 115 countries have been part of the program in which they not only learned but also could earn cryptocurrencies.
In 2019, Coinbase Earn had equipped its users with the skills to create MakerDAO CDPs. Furthermore, there has been knowledge dissemination on blockchain basics together with operating Brave browsers. This is instrumental to the growth of digital ledger technology (DLT) as well as expanding the Coinbase market share in the crypto exchange space.
The San Fransisco based digital currency platform said that they have plans to make bigger moves in 2020 as we head for the long-awaited Bitcoin halving. Most notably is an intention to scale the Coinbase Earn portfolio by adding more campaigns that will promote blockchain technology. This also will involve linking blockchain platforms and bringing crypto closer to potential users through their interactive campaigns under Coinbase Earn.
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