Coinbase Earn – Set Up Recurring Purchases & Earn Up To $20

The Offer

Direct link to offer

  • Coinbase is offering a bonus when you set up a recurring buy of $50 or more. You’ll receive a $10 bonus on your 4th and 8th recurring buys

Our Verdict

I’m not a crypto expert, but assume that the spreads with Coinbase aren’t so bad that purchasing $200 in Crypto and getting a $10 bonus cancel out. Obviously that doesn’t take into account market risk. Personally this bonus is small enough and with enough uncertainty that it’s an easy pass for me.

Hat tip to reader Davis
    William Charles
  • On February 3, 2022, 09:00
Tags: coinbasecryptocryptocurrency

View Comments (19)

  • From what I can see the recurring deposit option is available only in 'regular CoinBase' (not in CoinBase Pro).

    Any transaction in 'regular' CoinBase incurs a fee of $1.99 for $50, so the 8 deposits will cost you $16.

    In other words assuming it all goes smoothly and the bonus is paid with no issues you are looking at a whooping gain of $4

    Last time I looked at fees for consumer Coinbase, it was:

    $0.99 fee for purchases of $0-10 (10% fee on $10)
    $1.49 fee for purchases of $10.01 to $25 (6% fee on $25)
    $1.99 fee for purchases of $25.01 to $50 (4% fee on $50)
    $2.99 fee for purchases of $50.01 to $200 (3% fee on $100 and 1.495% fee on $200)
    For anything over $200 the fee is 1.49%

    Or the fee is usually 0.50% for Coinbase Pro transactions.

  • Adding to the pile - I also tried to do this before and all I got was repeated gaslighting from their support. Highly recommend steering clear of this one.

  • Same here. Tried to do this promo last time and never got the bonus. Support is also non existent for this promotion

  • I also completed this offer and never received the bonus. I was targeted and set up a $50BTC buy. Here is what support told me:

    Thanks for reaching out to Coinbase. After reviewing your account, we can confirm that you are not eligible for the recurring trade reward at this time.

    You can review the original terms here:

    - To receive this reward, you must complete the required number of recurring crypto buys. Only one reward is granted per invited customer. The reward is not available for USD Coin (USDC) buys, or if Coinbase finds gaming or fraudulent activity.
    - Allow 5 days after your qualifying buy to receive a reward, which will be paid in Bitcoin (BTC) and visible in your BTC wallet.
    - Coinbase may cancel this offer at any time prior to you scheduling recurring buys.

    Thank you,
    Coinbase Support

    They don't respond to follow up emails.

  • Another dissatisfied customer, did my recurring purchases, contacted support, they said I didn't qualify and didn't explain why. Could be that I was putting through $50 tnx which bought less than $50 after fees but they never responded when I asked them to verify. I was only expecting a net $1-$2 after fees so in retrospect it was very not worth it Based on the universally negative reviews here it may be worth updating the post to recommend more strongly against this one.

  • I did this before and they didn't pay out.. even filed a CFPB complaint.. and they still didn't pay out (for whatever reason).. just a head's up. your experience may vary

    edit: wow just read the other comments and realize everyone had the same experience as me.. there should be a class action lawsuit over this bullshit!

    • From the Coinbase User Agreement:

      Dispute Resolution: PLEASE BE AWARE THAT SECTION 7 (CUSTOMER FEEDBACK, QUERIES, COMPLAINTS, AND DISPUTE RESOLUTION) AND APPENDIX 5 OF THIS AGREEMENT, CONTAIN PROVISIONS GOVERNING HOW TO RESOLVE DISPUTES BETWEEN YOU AND COINBASE. AMONG OTHER THINGS, APPENDIX 5 INCLUDES AN AGREEMENT TO ARBITRATE WHICH REQUIRES, WITH LIMITED EXCEPTIONS, THAT ALL DISPUTES BETWEEN YOU AND US SHALL BE RESOLVED BY BINDING AND FINAL ARBITRATION. APPENDIX 5 ALSO CONTAINS A CLASS ACTION AND JURY TRIAL WAIVER. PLEASE READ SECTION 7 AND APPENDIX 5 CAREFULLY.

  • Coinbase had/has a $1.99 fee for transactions of $25.01 to $50. So if you need 8 transfers of $50 ($400 total) to earn $20, you pay $15.92 in fees for a net of $4.08 profit. USDC should be fee-free but people are saying it doesn't count for this promotion. You'd likely have to buy something like BTC or ETH which has a volatile price.

    This promotion is for long-term holders who were going to buy anyway. Putting $400 into non-pro Coinbase for the sake of a $4 bonus isn't a good deal. Coinbase Pro has much better rates when it comes to purchases.

  • Coinbase fee and spread make this cancel out. Maybe you'll save a dollar compared to pro

    • Yup, plus you risk them not paying out and losing money on the fees. Just stick to Coinbase Pro if you want to buy crypto on Coinbase. Long-time Coinbase user here.

      • This.

        If you buy on Coinbase Pro, you'll end up ahead without the fees even with earning no bonus.

  • I tried for this bonus last time around. The terms were non-existent but after they failed to pay I was told USDC purchases didn't count. I asked for the terms and they just closed my ticket and never replied again. Never again.

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