Coinbase Referral Program

The Coinbase referral program is pretty straightforward and easy to accomplish for the referral. This article shows you what a referral should do and if the referral program is worth your while.

€30 in Bitcoin per referral

The Coinbase referral program is an easy way to make some free crypto. When you invite someone with your personal referral link and he trades at least €30 in crypto, he and the referrer both get €30 in Bitcoin. Easier than this referral programs don’t get.

This guide will tell you about other possibilities beyond the easy stuff. The quick fix:

• Coinbase referral bonus: €30 in BTC for both referrer and referral
• Terms: trade €30 within 60 days after making the account
• Maximum is 5 referrals in the European Economic Area (EEA)

A couple more details of the program

1. You have to make an account on Coinbase
2. Within a year after making your account you have to add a paying method and buy a cryptocurrency on Coinbase. The minimum amount is shown after you made an account through a referral link with a valid promotion code.
3. When you made the account and bought enough cryptocurrency, you will receive the number and type of cryptocurrency that corresponds with the promotion code you used when signing up through a referral link.

How to check if the information about the Coinbase referral program is valid?

• Coinbase never asks to send funds.
• Mails sent by Coinbase will be delivered by no-reply@coinbase.com or mail@coinbase.com.

• Watch the URL closely to make sure you will be sent to the true Coinbase website.

If you think it is a scam or phishing, send a mail to security@coinbase.com or ignore it.

Additional conditions when referring to Coinbase

1. Referral may not have an existing account on Coinbase.
2. If you have an account, you may not use a different email address.
3. You can’t make use of the €30 in BTC offer if you joined through a different promotion, like “New User First Buy Spin The Wheel Incentive“, “Coinbase Decoder Incentive” and “Decoder Minimum Buy New User Incentive“.
4. Purchases with funds you sent to Coinbase, like other crypto, don’t count towards the €30 buy.
5. Purchases via Coinbase Advanced, Coinbase Pro and Prime Broker also don’t count.
6. The offer stands for 60 days.
7. Coinbase can withdraw the offer at any time.
8. Coinbase can change the offer at any time for any reason.
9. The offer is not valid if it is forbidden in your country or if Coinbase has the opinion you don’t fit the terms.
10. The value of your crypto reward is established by Coinbase the moment you deposit money.
11. Your reward can fluctuate after your deposit through market conditions, legal and regulative developments and any other factor in the crypto industry.
12. All new accounts will be checked internally. Coinbase can refuse to pay the referral bonus for any reason.

Most of these conditions are found on just about any exchange. They are part of the Coinbase User Agreement.

Coinbase Advanced referral making

If your referral trades on Coinbase Advanced you can get some more out of this referral program. Your referral must trade for at least $100 to get $5 dollar, but he can trade for $10.000 and get $50.

He must do this within 14 days, after he made the first trade that counts.

Your referral may not have shown activity on Coinbase Advanced prior to becoming a referral. If your referral trades on Coinbase Simple Trade or Coinbase Prime, these do not count. If the referral does not trade a minimum amount, the referrer and referral get no bonus at all. How it works:

The spot exchange trading volume is based on trading without leverage. Futures are with leverage. The richer the people you send to Coinbase, the more you can get as referrer.

You may not make paid ads with the word Coinbase in it to make referrals. When you do, your referral codes will be deactivated and your results will be revoked.

Email spamming is forbidden.

Coinbase has no liability for your actions.

How to use the Coinbase referral program?

You and your referral get a crypto welcome bonus if your referral signs up through your referral link and buys crypto. It works as following:

1. Login to Coinbase, look for the “refer friends” link and copy the referral code. Share this code through mail or another granted way.
2. Your friend opens the Coinbase website and fills in the referral code (if not there already).
3. As soon as your referral buys the minimum crypto through bankdeposit, credit or debet card, the referrer gets a bonus into his Coinbase account based on the country he lives in. A maximum number referrals might apply (it seems to be 5 max for EEA).
4. Your friend must buy the applicable amount in crypto within 90 days of fulfilling their KYC.
5. In Belgium you can only send your referral code to 25.000 people and you must add multiple warnings (really). Even if you send your referral codes to Belgians this applies.

Terms

The referral must become member through your referral link. He must trade through Coinbase and buy enough crypto.

Payments will be done within 5-15 days after all went well. Coinbase will judge if there is a chance at fraude or other risks. The Coinbase User Agreement and extra terms are in force.

Refer & Earn

This seems to be the referral program for people with a large network or website or maybe bigger companies in the crypto industry. You will get 15% of the trading fees your referrals make, so this part is interesting.

A bummer is that they only give this to you for 90 days, which makes it far less attractive. The same rules apply that I already mentioned for normal referrals.

Spin The Wheel

If you think this is your lucky day you can try Spin the wheel. The chances are not very much in your favor. 99% get between 3 and 10 dollar, 1% gets 10 or 200 dollar.

This cannot be combined with other promotions, so the regular way is not only smarter, but also nice to your referring friend, who gets that €30 in Bitcoin, as you do.

Within a year you gotta roll the wheel.

Spin The Wheel Plus

To get access to bigger numbers you have to buy $50 worth of crypto within a year or shorter, as Coinbase will communicate. The bonuses are way more attractive this way.

99% get between 30-100 dollar in Bitcoin and 1% gets 1.000 or 2.000 dollar. If you do this, make sure it is on a day you find a 4-leaf clover, don’t meet a black cat and, obviously, not on friday the 13th.

Your referrer gets nothing, the poor thing.

Bonuses for existing users

If you have an existing account for Coinbase and you buy $150 worth of crypto (not stablecoins), you can get a bonus, if Coinbase has the offer open.

99% will get 2-9 bucks in Bitcoin, 1% gets 10 or 500 bucks in Bitcoin. You can only do this once.

New user Decoder Pack

This aint so bad! You must buy $50 worth in crypto within a year of making your account. You then get instructions on what to do. 4 “decoder activities” can be done. Once you’ve done them, you get instructions on how to claim your rewards.

98% gets between $20 and $500 in 4 different cryptocurrencies. 2% get a reward of 500-2.000 dollar in those 4 crypto’s.

Coinbase compared to other exchanges

Pros Coinbase referral program

1. Simple
2. More possibilities
3. Your referral doesn’t have to buy a lot of crypto for the bonus
4. MiCA ready, so no worries about legislation

Cons Coinbase referral program

1. Most bonuses are low
2. No commission or only a short while
3. Only 5 referrals

Conclusion: Is the Coinbase referral program good?

• It is not a super program, but it is simple and fast.
• There are better ones, but it is easy to make a quick buck here.
• It is not scalable, which is a pity.
• It is not very much worth the trouble to keep pumping time in it.

Deze schrijver is in 2019 begonnen met investeren in cryptocurrency en vond het gelijk spannend en intrigerend. Sindsdien heeft hij in zijn werk en door interesse steeds meer expertise opgebouwd, die terug te vinden is in zijn verhalen. Hij probeert crypto en blockchain begrijpelijk te maken met een vleugje humor en nuchterheid.

Paul Hopmans