Starting today, Coinbase supports Orchid (OXT) at Coinbase.com and in the Coinbase Android and iOS apps. Coinbase customers can now buy, sell, convert, send, receive, or store OXT. OXT will be available for customers in all Coinbase-supported regions, with the exception of New York state. Additional jurisdictions may be added at a later date.
Founded in 2017 on the principle that the internet should be more open and more accessible to everyone, Orchid offers a decentralized VPN (virtual private network) service that connects individual internet users to a global pool of bandwidth providers. These providers can stake Orchid tokens to share their surplus bandwidth, acting as network nodes. The list of nodes is stored in an Ethereum smart contract that is decentralized and accessible to anyone around the world. Payment for bandwidth is done entirely with an ERC-20 token called OXT. To use Orchid, users need OXT, the Orchid app, and a Web3 crypto wallet. You can download the Orchid app here.
Coinbase Earn – Orchid
Coming soon, eligible customers in all supported countries can also participate in the Coinbase Earn Orchid campaign. Customers can earn $12 of OXT simply by learning about the token and taking a few quizzes. They can also earn $40 in OXT for referring friends to learn about OXT too ($10 per referral, up to 4 people).