Major exchange Coinbase has announced the recent addition of Zcash (ZEC) to its slim list of obtainable cryptocurrencies on its educational program, Coinbase Earn.
Earning while Learning
Coinbase launched its educational program on a section of its website late last year in December. The program, as the exchange describes, strives to bridge the gap between customers’ interest in cryptocurrencies and actual involvement. The San Francisco based company explained that a significant portion of its users had in some way showed interest in learning about other cryptocurrencies other than Bitcoin but did not where to start. The initiative, Coinbase Earn, is expected to provide a more accessible and friendly environment for users to learn while offering incentives and rewards in digital currencies too.
The exchange noted in their release that the survey which was conducted revealed that most of its user which could not take actions regarding other virtual cryptocurrencies attributed their reluctance to lack of knowledge. By introducing Coinbase Earn, users can learn and act more confidently buoyed by their knowledge. The company wrote in its official release:
“Coinbase Earn allows users to earn cryptocurrencies, while learning about them in a simple and engaging way. The idea is for users to understand more about an asset’s utility and its underlying technology, while getting a bit of the asset to try out.”
The initial launch in 2018 had only one cryptocurrency on its reward list: ZRX token. However, just a little over a month since its launch Coinbase has added other altcoins its earning list, including Basic Attention Token (BAT) which was well received at its announcement.
The introduction of the BAT token in January was well lauded by the crypto community and significantly influenced BAT’s market by pumping up its valuation by 13 percent. The recent announcement of Zcash, however, has not gone down well with crypto twitteratis, and might as well be called an antithesis of its initial success.
The exchange’s announcement on Twitter— Earn $3 worth of Zcash with a new Coinbase Earn opportunity today. Earn ZEC page to view educational videos about Zcash and earn some along the way! —has been labeled a joke coming too late, and lauded for its ‘generosity and help’: 3 dollars might just save a life.
The issue stems from Coinbase charging fees which dwarf other exchanges such as Binance and Bitfinex. “$3 is so much when you compare [it] with your fees. Thanks, Coinbase, what else [would we] expect from you,” a Twitter user.
The news has failed to have a similar impact on Zcash as it had on BAT though, as it stays 0.1% down to nestle at $51.09.