Every day I come across a lot of these kinds of bugs/glitches that can easily be exploited to make easy money in bitcoins. Some are worth the effort; some are not. Here is an example of such a loophole that you can exploit to make easy money in bitcoins. Note that I’m not a hacker, I am just a loophole hunter that takes advantage of glitch/bugs.
Today I found a loophole in the referral system of coinbase. What is coinbase? Coinbase is a secure platform that makes it easy to buy, sell, and store cryptocurrency like Bitcoin, Ethereum, and more.
What’s the glitch? Well, Coinbase is currently running a promotion of their referral system, where if you invite your friends, you both will get $10 each after your referral buy or sell any crypto coins worth $100 or more. Your referred friend does not even have to complete any KYC.
Now, how to exploit/loot this? You guys are silly, by now you should have understood how to loot this referal system. But, anyway I will tell you guys.
- Signup on Coinbase using any referral code, you will get $10 after your first trade (buy or sell) worth of $50.
- Verify your mobile number and go to https://www.coinbase.com/invite to get your referral link.
- Now use your referral link and create different accounts. Buy or sell $100 worth of bitcoins or any other supported cryptocurrencies. You will receive $10 of bitcoins in both accounts. Transfer this amount to third party Bitcoin wallets.
- To create multiple accounts, you need a unique mobile number for each account. So, download this app from here
- With this app, you can generate unlimited mobile numbers to create an unlimited number of accounts through your Coinbase referral link.
Now, let’s calculate profit:
For each account you create through your referral link, you will get $10+$10= $20 profit, and your original $100 you used to buy bitcoins. Transfer it to the localbitcoins.com wallet and sell it. Repeat and rinse.
Should you take advantage of this glitch/bugs? The simple answer is, its completely up to you. Now, I always say that loopholes are the best. You’re not technically doing anything against the rules, but it feels like you’re getting away with something. That’s because, well, you are! It’s not your fault someone didn’t do their I’s and cross their T’s, right? I am sharing this completely free. You either take and enjoy it or leave it and regret later for not taking the advantage while the glitch existed. Make Hay While the Sun Shines As a rule of thumb,” I never exploit glitches/bugs from the poor and the losers.”
I highly recommend you use a good VPN.
Update: This is still working. I will update this page once the loophole/glitch stopped working.
Update: As of 28 May 2020, this is no longer seems to be working. Coinbase now requires you to do identity verification before you can get the referral rewards.
You can reach out to me at [email protected]