Coinbase Earn XLM program to launch! Coinbase, one of the world’s largest cryptocurrency onboarding companies, will be giving away XLM to showcase their newest Coinbase Earn opportunity – Earn XLM!
Eligible US customers will receive an email invitation over the next few days to earn up to ten dollars by viewing XLM tutorials and answering quiz questions. By sharing their unique link, they can earn up to an additional $40.00 of XLM – $10.00 for each eligible friend who also completes the lessons.
Sorry international customers – you aren’t eligible for this current round of Earn XLM – but you can sign up for the waitlist to be notified once earning opportunities become available to you!
Coinbase will be distributing up to 1 billion XLM for the Earn XLM opportunity – 100% of which will go towards their users. These funds are being provided by the Stellar Development Foundation (SDF), a nonprofit organization that helps develop the Stellar protocol.
After you participate in Earn XLM, you can start tinkering around with the XLM protocol. Stellar is a platform that aims to connect banks, payment systems, and people more efficiently than today’s financial infrastructure. XLM does this by facilitating the issuance, exchange, and transfer of tokens – including those that have real world value, like dollars and euros.
XLM seeks to be the solution to what it views as the problem of today’s global financial infrastructure – communication. There are hundreds of different currencies and payment systems – each of them speak a different language – each have a hard time understanding each other. This results in an inconvenience to its users – you. Moving money around the world inevitably is slow and expensive. XLM thinks they have the answer. Since 2014, the goal of XLM has been to unify the world’s financial infrastructure so that money can flow quickly and cheaply between banks, businesses, and people.
But how does XLM work? Consider the internet for a second – if the internet connects the world’s computers to enable the free flow of information, so too will XLM. To accomplish this while maintaining neutrality, Stellar is not a bank or a business. Instead, it’s a decentralized and open network that is supported by a nonprofit called the Stellar Development Foundation.
As a decentralized financial network, no single entity or corporation can process transactions or stop someone from onboarding or offboarding into Stellar. This also means that the integrity of the network isn’t compromised even if some servers are turned off or fail.
Stellar network’s native asset is called the Lumen, aka XLM. Lumens can be used for sending money to people overseas or as an in-between currency on the Stellar network. An account must also hold a small stake of lumens for every other Stellar token it holds. Because it’s blockchain based, users don’t have to have a bank account to have XLM!
XLM is kind of like the universal translator between each currency supported by the network. This allows users to quickly send money, very cheaply, across borders. Transactions happen in around 5 seconds and the fee is 1 ten-thousandth of a cent.
So why is Coinbase doing this? Well. Coinbase says that their mission is to create an open financial system for the world. They believe that this is the highest leverage way to bring more economic freedom, innovation, efficiency, and equality of opportunity for everyone. XLM’s goal of connecting banks, payment systems, and people more efficiently than today’s processes is just another example of how crypto can achieve this vision.
What do you think? Will you be watching the videos and trying to get that $50.00 from Coinbase’s Earn XLM program? Click here. Let us know what you think on our Facebook page!
