United States-based cryptocurrency exchange, Coinbase, has announced that its customers can earn DAI tokens if they watch lessons and take quizzes about the stablecoin and its features. Coinbase is aiming to boost global cryptocurrency knowledge by becoming a trusted source where people can educate themselves about the latest developments in the industry.
Earn DAI by Learning About the Stablecoin on Coinbase Earn
Coinbase, a leading cryptocurrency exchange in the world announced yesterday, June 10, that its customers can earn DAI tokens if they learn about the stablecoin. This comes as part of an effort by Coinbase Earn to help customers earn cryptocurrencies while learning about the newest developments in the crypto space.
According to the blog post, users would earn DAI when they watch lessons and complete quizzes about the DAI stablecoin. The exchange revealed that DAI is the first stablecoin that has been made available to users via the Coinbase Earn program.
Coinbase is working towards improving peoples knowledge of cryptocurrencies across the globe by becoming a trusted source where people can get factual information.
The cryptocurrency exchange is confident that earning, alongside staking, buying, voting, and mining will become an integral part of the crypto space when combined with education. Coinbase urged users to verify their ID and opt into getting the latest updates from them if they want to stay informed about opportunities similar to this DAI program.
Coinbase Earn has already launched multiple programs that allow users to earn cryptocurrencies while learning, however, DAI is the first stablecoin and the sixth cryptocurrency to be featured following EOS, Basic Attention Token (BAT), 0X (ZRX), Zcash (ZEC), and Stellar Lumen (XLM).
According to its whitepaper, DAI states that it is a decentralized stablecoin that currently operates on the Ethereum blockchain. Similar to most other stablecoins, DAI is tied 1:1 to the US Dollar. However, unlike the other stablecoins, the DAI tokens are not backed by US Dollars kept in bank accounts.
Instead, the stablecoin is backed by collateral via the Maker platform. Furthermore, the Maker tokens (MKR) and the DAI tokens work together, with MKR providing governance for the ecosystem and DAI serving as the decentralized stablecoin.
Crypto Entities Promoting Blockchain Education
One of the most significant issues plaguing cryptocurrencies and affecting global adoption is the lack of knowledge by most people regarding blockchain technology and digital currencies. Thus, the reason why Coinbase and a few other crypto entities are promoting blockchain education.
The Malta-based crypto exchange, Binance, has a program similar to Coinbase Earn called the Binance Academy. The platform contains valuable information about blockchain and cryptocurrencies, which is aimed at helping people understand what they are and how they are bringing positive developments to the world.
IBM and a host of other entities around the world are also offering blockchain education materials to people all over the world.
The attempts by blockchain and cryptocurrency companies to educate people about the innovations in the industry could play an essential role in achieving widespread adoption.