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They say the best things in life are free. Now, what if we told you that there is a legitimate way to get free crypto without visiting shady Web3 sites or preparing for unobtainable crypto airdrops?
This article guides you through getting tokens with Coinbase Wallet, a non-custodial wallet by Coinbase Inc., including steps to claim free cryptocurrencies like Optimism (OP), Graph (GRT), and P00LS (00).
Key Takeaways
Getting Started With Coinbase Wallet
Coinbase Wallet has a learn-and-earn crypto program called Quests that rewards eligible users with free tokens for participating in on-chain and crypto learning activities.
In order to get started, you will have to set up a Coinbase Wallet. You can do this by downloading the app on Apple App Store or on Google Play. You can also set up your Coinbase Wallet on your laptop/desktop by downloading the Coinbase Wallet extension on Google Chrome or Brave browser.
Coinbase Quests will require you to conduct some on-chain tasks to become eligible for the rewards. Make sure you have Ether (ETH) tokens to pay for gas fees.
Remember to secure your crypto wallet’s secret recovery phrases (SRP) when you set up a new wallet. You will need your SRPs to recover your wallet in case you lose your smartphone or forget your wallet password. Learn how to recover your crypto wallet using SRPs here.
How to Earn Optimism, Graph and P00LS Tokens?
Coinbase introduced an Ethereum-based Layer 2 (L2) blockchain called Base in February 2023. Base was created by Coinbase using Optimism’s open-source blockchain development stack called the OP Stack.
Since the launch of Base mainnet in August 2023, Coinbase has been distributing free Optimism tokens via the Quest program.
As of March 1, 2024, you can get crypto rewards worth $51, the majority of which is being distributed in OP tokens.
Here’s what you can do to earn free OP, GRT, and 00 tokens.
Sign Up for Farcaster and Earn OP Tokens
Farcaster is an Optimism-based protocol for decentralized social networking applications. The decentralized and open-source properties of Farcaster ensure a censorship-free environment where users control their data, interactions, and audience.
Follow these steps to earn $5 worth of OP tokens:
- Open your Coinbase Wallet. Go to the ‘Explore’ tab. Tap on ‘Sign up for Farcaster’ under Quests.
- Tap on ‘Start quest.’ Your wallet will ask you to ‘confirm your humanity’ by connecting to your Coinbase account.
- You will receive an email to set up a Farcaster account
- Note that Farcaster charges users an annual fee of $5 to register with them. You can pay the sign-up fee with cryptocurrencies in your Coinbase Wallet.
- Check your email and tap on the link to download a Farcaster wallet called Warpcast.
- Open Warpcast and select ‘Create account.’
- Enter the same email you used earlier and finish the process by tapping ‘Create account.’
- You will receive OP tokens worth $5 as your reward.
Tokenize Your First Domain On-Chain on 3DNS and Earn OP Tokens
3DNS is a blockchain-based domain registrar on Optimism. Domains registered on 3DNS are represented by non-fungible tokens (NFT), allowing easy transfers and full user control. In this quest, you will have to purchase a 3DNS domain to earn OP crypto tokens worth $20.
- Open your Coinbase Wallet. Go to the ‘Explore’ tab. Tap on ‘Tokenize your first domain on-chain under Quests.
- Tap on ‘Start quest.’ Your wallet will ask you to ‘confirm your humanity’ by connecting to your Coinbase account.
- You will need at least $20 worth of ETH or USDC on the Optimism network to purchase a 3DNS domain.
- Create a 3DNS account or sign to your existing 3DNS account.
- Search for a domain name of your choice and click ‘add domain.’ Hit ‘Checkout.’
- Select ‘Crypto’ as your payment method. Note that you have to purchase the 3DNS domain using crypto to complete the quest.
- Add your WHOIS contact information, which is legally required for all domain purchasers.
- Complete the process, and you will be rewarded OP tokens worth $20.
Delegate on The Graph and Earn GRT Tokens
The Graph is a decentralized protocol for indexing and querying blockchain data. The Graph makes it easy to read and fetch data that is stored on the blockchain. In this quest, you will have to delegate tokens to an indexer on The Graph to earn free GRT crypto tokens worth $15.
- Open your Coinbase Wallet. Go to the ‘Explore’ tab. Tap on ‘Delegate on The Graph’ under Quests.
- Tap on ‘Start quest.’ Your wallet will ask you to ‘confirm your humanity’ by connecting to your Coinbase account.
- Add ETH on the Arbitrum Network to cover your gas fees. After you fund your wallet with ETH, you will receive $10 worth of GRT tokens for delegating.
- Head over to the ‘Graph Explorer’ on the official website. You will find ‘Indexers’ by clicking the ‘Participant’ tab.
- Select an indexer to delegate your GRT tokens to. You will have to delegate at least 50 GRT tokens.
- Once you find a suitable indexer, click on the three dots and select ‘Delegate.’ Add the amount of GRT tokens to delegate and click ‘Allow GRT Access.’
- Confirm and approve your transaction.
- You will receive additional GRT tokens worth $5.
Claim a P00LS NFT Starter Pack and Earn 00 Token
P00LS is a web3 rewards protocol that allows content creators to create their own loyalty points as a fungible token and distribute them to their community. In this quest, you will have to mint a P00LS NFT starter pack to earn free 00 crypto tokens worth $5.
- Open your Coinbase Wallet. Go to the ‘Explore’ tab. Tap on ‘Claim a P00LS NFT starter pack’ under Quests.
- Tap on ‘Start quest.’ Your wallet will ask you to ‘confirm your humanity’ by connecting to your Coinbase account.
- You will need about 4 MATIC tokens in your wallet to mint a P00LS NFT starter pack.
- Click ‘Claim’ and mint your P00LS NFT starter pack. You will receive 10 P00LS creator tokens.
- In addition, you will also receive 00 tokens worth $5 as your reward.
Mint an NFT on Zora to Earn Free OP Tokens
Zora is an NFT-focused L2 network on Ethereum built using the Optimism stack. In this quest, you will have to mint the “Upload Imagination NFT” on Zora to earn your reward of free OP tokens worth $3.
- Open your Coinbase Wallet. Go to the ‘Explore’ tab. Tap on ‘Mint an NFT on Zora’ under Quests.
- Tap on ‘Start quest.’ Your wallet will ask you to ‘confirm your humanity’ by connecting to your Coinbase account.
- Open the ‘Upload Imagination’ mint page and tap mint to collect your NFT.
- You will receive $3 worth of OP tokens as your reward.
Mint on Sound.xyz to Earn Free OP Tokens
Sound.xyz is a blockchain-powered music discovery platform that allows artists to publish their works as digital collectibles. In this quest, you will have to collect one of the featured songs on the platform to earn $3 worth of OP tokens.
- Open your Coinbase Wallet. Go to the ‘Explore’ tab. Tap on ‘Mint on Sound.xyz’ under Quests.
- Tap on ‘Start quest.’ Your wallet will ask you to ‘confirm your humanity’ by connecting to your Coinbase account.
- You will need some ETH on the Optimism Network to mint the featured songs.
- Once you sign in using your Coinbase Wallet, tap on ‘Collect Now’ and select ‘Pay with ETH’ to mint the NFT.
- Confirm the transaction.
- You will receive $3 worth of OP tokens.
Coinbase Quests – We teamed up with Coinbase to shine a light on six rising artists, and introduced thousands of Coinbase Wallet users to onchain music.
Opening up to everyone – In July this year we fulfilled our biggest goal by making our tools available to every single artist. pic.twitter.com/OVWsyKunBv
— sound.xyz (🎧,🎧) (@soundxyz_) December 28, 2023
Eligibility Criteria to Earn Free Crypto Tokens Using Coinbase Wallet
Coinbase is a compliant-first crypto company; therefore, it has limited its free crypto rewards to selected regions. You are eligible to get rewards using the Coinbase Wallet if you live in the following regions:
The Bottom Line
Readers must note that Quests on Coinbase Wallet are limited while the reward tokens last. Token rewards and quests come and go; if you want to get free crypto that you are interested in, make sure you complete the quest before it expires.
Coinbase’s Quest learn-and-earn crypto program incentivizes users to explore new applications and innovative use cases that the web3 industry offers.
