How to Make Money on Coinbase | Expert Guide

Want to learn how to make money on Coinbase? Our expert guide covers 10 ways to make money on Coinbase, from staking to NFTs and more.

Coinbase is one of the most popular crypto exchanges globally, and it offers investors many opportunities to make money from crypto on a user-friendly, secure exchange. We’re covering 10 different strategies to make money on Coinbase. Let’s go!

10 ways to make money on Coinbase

• Learn and earn rewards

• Stake with Coinbase Earn 

• Earn stablecoin rewards

• Become a Coinbase affiliate

• Get a Coinbase sign-up bonus

• Earn cash back with a Coinbase card

• Save on fees with Coinbase One

• Get into DeFi with Coinbase Wallet

• Get creative with Coinbase NFTs

• Short and long-term trading on Coinbase

Learn and earn on Coinbase

Discover Coinbase's Learn and Earn program, where you can reap rewards just by expanding your crypto knowledge! Dive into short, informative modules that explain the fundamentals of crypto, then test your newfound knowledge with a quiz to unlock crypto rewards.

Coinbase collaborates with emerging cryptocurrency projects to help them gain exposure to a broader audience, so the specific learn programs update regularly.

While Learn and Earn modules usually don't shower investors with substantial amounts of cryptocurrency (typically offering rewards in the $3-5 range), they're an effortless way to collect free coins and tokens.

Read next: 10 Best Learn and Earn Crypto Programs

Stake with Coinbase Earn

Coinbase does offer crypto staking for some blockchains through Coinbase Earn. This feature allows users to lock up their holdings, contribute to transaction validation for Proof of Stake blockchains, and in return, earn rewards!

As of January 2024, you can stake 15 different cryptocurrencies. You can see the different currencies and their current estimated reward rates below, but please note reward rates are subject to change.

• APT: Estimated reward rate 6.43% with payouts every epoch (2 hours)

• AVAX: Estimated reward rate 9% with payouts every 1 - 2 days

• AXL: Estimated reward rate 12%

• ADA: Estimated reward rate 4% with payouts every 15- 20 days

• CGLD: Estimated reward rate 4.98% with payouts every epoch (24 hours) 

• ATOM: Estimated reward rate 13.68% with payouts every block (7 seconds)

• ETH: Estimated reward rate 4.12% with payouts every 4 - 5 days

• LsETH: Rewards paid out in LsETH accruing value

• KSM: Estimated reward rate 13.45% with payouts every 6 hours

• NEAR: Estimated reward rate 10.58% with payouts every epoch (12 - 15 hours)

• DOT: Estimated reward rate 13.95% with payouts every era (24 hours)

• MATIC: Estimated reward rate 4.82% with payouts every checkpoint (up to 3 hours)

• SOL: Estimated reward rate 5.9% with payouts every epoch (2 days)

• SUI: Estimated reward rate 4.58% with payouts every epoch (24 hours)

• XTZ: Estimated reward rate 5.6% with payouts every 31 - 37 days

A word of warning though - in the US, financial authorities have been paying more attention to crypto exchanges offering staking services, suggesting that staking services could potentially be classified as 'unregistered securities.' Consequently, some states, including California, New Jersey, South Carolina, and Wisconsin, have seen Coinbase suspend its staking services due to these regulatory uncertainties. So you’ll need to check whether Coinbase Earn is available in your location.

Read next: 10 best staking platforms

Earn stablecoin rewards

Coinbase also offers earning opportunities for customers holding USDC, a stablecoin developed by Coinbase, which is tied to the value of the U.S. dollar.

UDSC reward rates vary depending on your location and account type but usually sit between 2% to 5% APY, which is a stark contrast to the meager interest rates offered by traditional banks for fiat currency right now. 

Coinbase funds these interest rewards from its own resources, to promote increased usage of the stablecoin. So, take advantage of this opportunity to maximize your earnings with USDC on Coinbase!

Read next: 15 ways to earn free crypto!

Become a Coinbase affiliate

Coinbase’s affiliate program lets you earn money in return for signing up new Coinbase users through your unique affiliate link.

To participate, simply apply for Coinbase's affiliate program, and upon approval, you can strategically place your affiliate link on your website or within your content. Each time users register through your affiliate link, you'll pocket a generous 50% of their trading fees for their first three months.

It's worth noting that Coinbase tailors its affiliate program to content creators with substantial outreach. Whether you run a thriving business, manage a popular blog, host a podcast, run a YouTube channel, or maintain a newsletter, this crypto affiliate program presents an excellent opportunity to make money with Coinbase.

Read next: What are the highest-paying crypto affiliate programs?

Get a Coinbase sign-up bonus

Not made a Coinbase account yet? One way to make money with Coinbase is to sign up!

At the time of writing, Coinbase offers a sign-up bonus of potentially up to $200 worth of cryptocurrency.

To claim your sign-up bonus, all you have to do is create a Coinbase account and make a cryptocurrency purchase. Following this, you'll have the opportunity to spin a wheel and unveil your sign-up reward, which can range from $3 to $200 in either USDC or Bitcoin! 

Earn cash back with a Coinbase card

Coinbase has its own crypto debit that allows customers to earn cashback when they spend crypto/ 

At the time of writing, Coinbase cashback rewards range from 1% to 2% on all your purchases. You can even pick the crypto you’d like to receive these rewards as, including Bitcoin, Ethereum, USDC, or DAI. 

Read next: What are the best crypto debit cards?

Save on fees with Coinbase One

Though this is more of a saving strategy than a money-making strategy, it’s still well worth knowing. Coinbase One can help frequent traders save a bundle on trading fees on Coinbase.

Coinbase One is a subscription service. For $30 a month, you’ll get benefits like $0 trading fees, account insurance, phone support, and more. 

Of course, this isn’t for everyone. But if you’re spending more than $30 a month in trading fees (around $800 volume) then Coinbase One pays for itself. 

Get into DeFi with Coinbase Wallet

Although it’s not the exchange itself, if you’re looking for more investment opportunities, Coinbase Wallet can help. 

DeFi offers the potential for transparent, peer-to-peer lending that may yield higher returns compared to centralized investments. When you supply your cryptocurrency to DeFi lending protocols, you can earn rewards for lending to borrowers. To get started, you'll need a crypto wallet compatible with DeFi applications - and Coinbase Wallet is one of the best crypto wallets around. 

Through Coinbase Wallet, you can dip your toes into DeFi lending and explore opportunities within DeFi protocols like Compound or Aave.

Read next: What are the best crypto lending platforms?

Get creative with Coinbase NFTs

Coinbase NFT offers a marketplace where you can engage in the buying, selling, and creation of NFTs.

Both creating and trading NFTs can prove to be lucrative. And you can mint and sell your creations right on the Coinbase NFT marketplace, giving you significant exposure to millions of other Coinbase users. 

Of course, Coinbase NFT marketplace isn’t the only popular NFT trading platform. Other platforms like OpenSea and Rarible remain popular for both NFT creators and investors.

Read next: What are the best NFT trading cards?

Invest and hodl or develop a short-term trading strategy

Although crypto is a speculative investment, many of the crypto millionaires you hear about didn’t buy crypto for short-term gains, they bought and held for the moon… and it paid off. Coinbase launches new tokens and coins regularly, so you should always research new projects to see if you like the sound of them. 

Holding isn’t your only option, however. You can also develop short-term trading strategies to help you navigate different market conditions. You can start learning more in our bull market strategies guide and our bear market strategies guide.

Read next: How to read crypto charts

How to register for a Coinbase account

Ready to start making money on Coinbase? Registering for a Coinbase account is a breeze. 

Remember, you must be at least 18 years old and have a government-issued ID to complete the process! Here’s how:

1. Visit the Coinbase website and find the signup option (top right corner)

2. Provide your personal details, including your email address, phone number, date of birth, address, and the last four digits of your social security number

3. Verify your email and phone number

4. Upload a clear photo of your government-issued ID

5. Once your information is reviewed and your identity is confirmed, you'll gain access to trading on Coinbase! Be patient though, the verification process may take up to 72 hours

Can I withdraw cash from Coinbase?

Yes. ​​You can withdraw your crypto to a non-custodial wallet as well as withdraw your fiat currency in Coinbase to a linked bank account. 

Given the last couple of years of exchange collapses, it’s super important you trust your crypto exchange. Coinbase has a strong reputation for security, as well as providing proof of reserves. 

Understanding Coinbase: A quick overview

Coinbase, established in 2012, stands as a user-friendly crypto-exchange platform. It operates as a fully licensed and regulated cryptocurrency exchange broker, serving customers in over 100 countries worldwide, including prominent regions like the US, Austria, Bulgaria, Croatia, Belgium, and Cyprus.

In the United States alone, Coinbase caters to users in more than 40 states and territories. With a subscriber base exceeding 35 million users, Coinbase ranks as one of the largest digital currency exchanges globally.

Coinbase has remained a market leader since its inception, boasting a strong security record, as well as a strong customer focus. 

Are my Coinbase earnings taxable?

Yes. Crypto is subject to tax, wherever you live. You’ll generally pay either Income Tax or Capital Gains Tax depending on your transaction. 

But don’t worry - Koinly can help you calculate your Coinbase tax liability in a snap. Just connect via single sign-on or by uploading a CSV file, and Koinly will calculate your Coinbase income, gains, losses, and more, before generating your crypto tax report to help you file with your tax office.