Robinhood Introduces Crypto Learn and Earn Feature
Amid continued bad news in the realm of cryptocurrencies, a popular FinTech app is moving forward with a new feature that will provide customers with more education about certain assets. Recently, Robinhood launched its Learn and Earn program. With this feature, users will be able to dive into the details of certain crypto assets and systems. In return for doing so, they’ll receive some of that asset to be added to their Robinhood account.
Currently, the first Learn and Earn lesson is being offered for Avalanche (AVAX). Those who complete the lesson and take a quiz about what they learned will be awarded with $1 in AVAX. To find this course, customers can tap the Browse tab in the Robinhood app, scroll to the Learn section, and look for Learn and Earn AVAX. Note that, once completed, users will not be able to earn the reward again but will still be able to review the material in the lesson.
The new feature is similar to one offered by Coinbase. With Coinbase Earn, customers can take courses on select cryptocurrencies and be rewarded with as much as $4 worth of that asset. At this time, Coinbase Earn features three assets: The Graph (GRT), Amp (AMP), and Near Protocol (NEAR).
This Learn and Earn program is Robinhood’s latest effort to expand its cryptocurrency offerings. After first adding crypto trading in 2018, the company finally added support for external wallet transfers earlier this year. On top of that, the company is currently in the process of rolling out a non-custodial, web3 wallet as a standalone app. Robinhood has also continued to list additional coins, with Tezos (XTZ) and Aave (AAVE) ranking among some recent adds.
Beyond cryptocurrency, Robinhood has also been adding new features to its service. Most recently, the app added Robinhood Retirement to the platform, allowing customers to open Traditional or Roth IRAs and earn a 1% IRA Match on contributions. The company has also put a greater emphasis on its Robinhood Gold subscription plan by now offering Gold members 4% APY on non-invested funds.
Despite 2022 being a more than challenging year for cryptocurrency, the fact is that there are still positive developments happening. The introduction of Robinhood’s Learn and Earn program definitely falls under that category as it helps consumers to better understand some of the assets they may be interested in buying. With that, hopefully we’ll see the expansion of the program in 2023.