The news of Coinbase Earn.com closing down isn’t surprising to its users. Coinbase, the cryptocurrency exchange, has sent an email to its customers, announcing that it is shutting down Earn.com. Coinbase will now focus solely on the Coinbase ‘Earn’ project. Interestingly, Coinbase acquired Earn.com just eighteen months ago for one hundred million dollars ($100M). Coinbase shutting down the micro-tasks portal shows how every project is not scalable in the volatile crypto industry.
The official email mentions that Coinbase will now focus on Coinbase Earn. Here, users can earn digital currencies once they compete and win in educational tasks. This year the Coinbase Earn portal taught thousands of users how to operate Brave browser and open MakerDAO CDPs. Users also learned the functioning of numerous blockchain networks through the Earn portal.
Coinbase Earn.com closing down after successful scaling
Around one million (1M) users across more than one hundred fifteen countries (115+) have used the Earn Portal to earn and share millions of crypto dollars. Users must transfer their funds from Earn.com by the 20th February 2020. Next year, Coinbase wishes to increase the features and functionalities offered by Earn Portal. The exchange will add more campaigns, link to new blockchain networks and increase the user base.
In 2018, Coinbase bought Earn.com for one hundred million dollars ($100M) in a juicy deal that involved stocks, cash, and even crypto assets. Earn.com started operations in 2013 and was initially called 21.co. After meddling with Bitcoin mining hardware production, it shifted focus to providing social network services in the crypto realm. Random emails moving through Earn.com were assigned a price tag. A recipient is paid if he replies to a user’s email. Thus, the platform delivered actual value to the users and in turn, promoted cryptocurrency.
Coinbase launched a mobile app for Earn.com users to further improve their experience. The app has been redesigned to include more information about Coinbase user’s portfolio. Coinbase Earn.com closing down will boost the Earn platform’s users base further.
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