Coinbase Shutdown

Cryptocurrency exchange, Coinbase has revealed that it will close its platform, a startup acquired in April last year.

The exchange made the decision to close in a bid to expand the Coinbase Earn program.

The official email from Coinbase said: “Coinbase will be sunsetting to focus exclusively on Coinbase Earn.”

The platform, as well as the Coinbase Earn platform, compensate users with crypto assets. Users get rewards for learning about them and completing educational tasks. In April 2018, Coinbase acquired the platform.

Sequel to the announcement, it’s expected that all users on the platform withdraw their funds before February 2020.

Besides, Coinbase also revealed plans to scale Coinbase Earn much more by adding more campaigns to the platform. Therefore, connecting more blockchain networks with engaged crypto users.

What was about? in 2013 (almost 7 years ago). The platform originally developed chips and hardware for ‎cryptocurrency ‎mining. In 2017, the startup rebranded from with the launch of its ‎eponymous paid messaging platform. The messaging platform allows senders to pay users in cryptocurrency to reply ‎to emails and complete tasks.‎ Before now, Coinbase decided to expand its Coinbase Earn program and said may play a role in that. Also, the exchange promised to completely integrate into Coinbase’s operations while the startup’s existing business continues. However, at the moment Coinbase is going to close to focus exclusively on Coinbase Earn.

Notably, Coinbase Earn is also very much like the platform. Although, there’s a difference cause Coinbase Earn integrates within the exchange’s ecosystem. While for, users need to be redirected to a separate domain.

Coinbase also reportedly allowed about a million unique users in over 115 countries to earn their share of hundreds of millions of dollars in cryptocurrency.

Just in case you missed out on Garrett’s news, Coinbase announced the release of a new cryptocurrency called “Orchid” (OXT) on its platform. Therefore, Coinbase users can now buy, sell, and transfer OXT tokens.


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