Cryptocurrency has become very valuable. Digital assets such as Bitcoin and Ethereum are selling for thousands of dollars. Some altcoins are also gaining value rapidly; hence holding them can be a good way of growing your money.
The easiest way to own cryptocurrency is by buying them. One can buy digital assets through Crypto ATMs, exchanges, and other platforms. Some people may also opt for mining these digital assets. However, mining and staking may be resource-intensive to many people who would want to earn cryptocurrency.
These digital assets are also highly volatile – the prices sway a lot depending on many market factors. As a beginner, you may find it difficult to spend all your hard-earned money to buy these relatively new digital assets. However, you will still want to get your hands on some crypto coins.
Here are some of the ways you can earn crypto for free without parting with your money.
1. Get Sign Up and Referral Bonuses
One of the quickest ways to earn free cryptocurrency is through signup bonuses from cryptocurrency protocols such as exchanges and brokers. The platforms may have different conditions that a user must meet to be eligible for the bonus. For example, some platforms require users to deposit or trade a certain amount within a specific period to earn the rewards.
Hi has a unique invitation-only feature, where every member is a referrer. The project offers members many incentives to help grow the network. One major incentive is the referral bonus of 10% and 5% if a member’s downstream referral buys HI tokens within four years of signing up and one-year daily release options.
Coinbase is another platform that offers crypto bonuses for using the platform’s learning hub. It rewards users who watch videos and take quizzes as a process of learning about the platform. The content is typically focused on specific altcoins, and it is in these coins that the users earn at the end of the lessons. Since some of these altcoins may not be recommended for long-term investment, users can convert them into other digital coins within the platform or even sell them and use the money to buy tokens for another promising project.
Other platforms will offer to sign up bonuses, but upon depositing and trading some amount of money. For example, eToro offers users $10 worth of cryptocurrency as a sign-up bonus to new investors when they deposit and trade $100.
A cryptocurrency airdrop is a marketing stunt pulled by blockchain-based projects. It involves giving away tokens to some people, especially in a community setup, to promote awareness of a new digital currency. Many airdrops are given as a reward for promotion through social media posts and reactions, and blogs. Sometimes, it is given to cryptocurrency holders, especially active cryptocurrency traders.
One can look online to find when airdrop projects are happening. The projects are often promoted on the project’s website and by users on social media platforms and even some cryptocurrency news sites. Developers often send the specified amount of digital coins to the wallets addresses of the users who qualify for such bonuses.
3. Browsing and Shopping Rewards
Another way of earning free cryptocurrencies is shopping through media that offers cryptocurrency giveaways to shoppers. Lolli, a Firefox or Google Chrome browser extension, rewards those who shop with its retail partners with Bitcoin. This extension rewards users for spending regular money as they normally would when shopping online. One need not make purchases with cryptocurrencies.
Retailers on this browser extension include Nike, Malaysia Airlines, and Sephora. The reward depends on the retailer and products and may range between 1% and 30% “Bitcoin back.” The prizes are deposited into the user’s Lolli account. Users can then transfer those assets to their cryptocurrency wallets or even exchange account.
Brave Browser also awards users with the Basic Attention Token. Unlike Lolli, Brave does not require users to shop on any specific retailer to give the rewards. The Browser is available both on desktop and on Android devices and typically blocks all ads from the user’s internet viewing experience. However, users will be asked if they want to opt for the Brave Reward Program. Brave will show some ads to users who opt for the reward program. In exchange for showing ads, the Browser rewards the user with Basic Attention Token (BAT). Users can transfer their tokens to Hi and earn decent commissions.
4. Cashbacks on Crypto Credit Cards and Debit Credit Cards
Crypto credit card cashback works like the traditional rewards credit cards. However, instead of earning cash back or points every time a user swipes their cards, they get cryptocurrency rewards – Bitcoin and other altcoins.
Crypto credit cards in circulation are supplied by the world’s largest payment processing networks – Visa and Mastercard. These cards can be used at any merchant accepting Visa or Mastercard. In some cases, the rewards may be given in other forms yet can still be redeemed for cryptocurrency.
Some of the projects that have announced plans for cryptocurrency reward cards include Gemini and other exchanges, along with FinTech companies such as Upgrade and BlockFi. BlockFi credit card earns a 3.5% back in Bitcoin on purchases made within the first 90 days from account opening. Afterward, the card user earns a flat 1.5% back on every purchase, they make.
Besides having varying reward rates, the cards offer different redemption values. For example, the Gemini card allows users to choose the cryptocurrency they want to redeem rewards in. BlockFi, on the other hand, earns Bitcoin rewards, while others only limit users to certain altcoins.
The rewards you earn with crypto credit cards are only valuable when the user avoids high-interest rates. Users must ensure that they charge only what they can pay off in full and on time without carrying a debt balance.
5. Participating in Crypto Faucets
Crypto faucets are sites that reward users with digital currency for performing simple tasks such as playing games, watching videos, or simply clicking advertisements. As such, these faucets allow users to earn cryptocurrency without any upfront investment. Some of the sites used to give visitors as much as 5 BTC. However, back then, five Bitcoins were not worth much. Currently, they do not pay as many valuable cryptocurrencies. However, the basic idea remains the same – they provide a way of earning cryptocurrency free. Users are required to supply their wallet addresses to receive the tokens.
Additionally, one has to consider the minimum redeemable amount. Some platforms may set the minimum withdrawal amount so high that it may take you a very long time to reach, making the entire faucet a waste of time.
Some of the popular cryptocurrency faucets are Cointiply and Bituro. Cointiply pays out the users in Bitcoin, Dash, and Dogecoin whenever they complete the puzzles on the platform. The platform also allows users to earn interest on the cryptocurrency they earn on the platform once the token has reached 35,000 Cointiply coins (translates to $3.5). Butoro enables users to redeem their rewards once the points hit 1,000, which translates to the $1 work of Bitcoin. The platform rewards people for taking surveys. For example, a one-minute survey earns the user $10.
6. Receiving Payments in Crypto
Another way of earning cryptocurrency without buying is receiving payments in digital coins. While this may not sound like a freeway to getting your hands I digital
tokens, it still enables you to start earning crypto without any upfront investment. This method works best for online merchants. For example, Publish0X is one of the famous crypto publishing platforms, which rewards its users – writers and readers. A user will read an article and get a reward. Users decide on the portion of their earnings they want to give to the author of the article they have just read. The remaining crypto reward is immediately sent to the user’s account. They can transfer these tokens to their preferred wallets.
Avoid a Cryptocurrency Scam
Earning crypto-free may be the quickest way to acquire digital tokens without risking any money. However, one should understand the risk that comes with it.
Scammers use some of these methods of earning crypto free to defraud users.
Many scammers use clone cryptocurrency browsers and social media to scam their targets.
They may create clone browsers that collect the user’s details to hack their wallets. Supplying them with wallet addresses gives them a good starting point to conduct the attack. They may still have the user’s available tokens on the wallet or threaten to spread the information for a ransom.
To avoid this risk, users must pay close attention to the web browsers they are using.
They should ensure that the domain name is correctly spelled. The addresses that begin with “HTTPS” are also secure. Additionally, a small lock icon in the URL is also a sign of a certain website. Users should only use the websites that they trust.
Social media scams are also popular. Fraudsters use bot accounts to send promotional messages. While many genuine cryptocurrency projects promote their tokens and services, users should be able to identify genuine promotional messages from bot messages. One should be careful with offers, which seems too good to be true. For example, no company can easily offer 300 BTC for simply clicking a link.
There are many ways to earn free cryptocurrency, such as signing up and referral bonuses, airdrops, crypto faucets, cashback on crypto debit/credit cards, browsing and shopping rewards, and receiving payments in crypto. You can earn any type of crypto using these methods.
However, the major disadvantage of earning crypto free is that they may carry security risks. Users must pay close attention to apps, websites, or links that they visit since many of them may be a fraud.
Those who are looking for a safer means of getting cryptocurrencies should prefer trading – buying cryptocurrency from a safe exchange or broker such as hi.