11 ways to earn free crypto
Who doesn't like free stuff? Those who are interested in cryptocurrency can also obtain free stuff. A number of websites provide free cryptocurrency to consumers, and all it takes to get started is a little bit of initiative. With cryptocurrency's proclivity for price swings, you may get more than you bargained for. Furthermore, some sites may offer cash or NFTs that can be converted into cryptocurrency.
11 Simple Ways to Earn Free Cryptocurrency
1. Sign up with an exchange
Many cryptocurrency exchanges will deposit cryptocurrency into your wallet if you sign up as a client (just as brokerages will give you cash if you sign up as a client.) You may want to select the best available option, but earning them all may be worthwhile. The good news is that this is one of the safest options for obtaining free coins, though you will need to put up some yourself.
The following are some of the exchanges that provide free cryptocurrency:
Other exchanges occasionally add promotions or offer time-sensitive bonuses, so keep an eye out for those additional opportunities.
2. Crypto staking
Staking your cryptocurrency can help you earn a consistent source of income, which is especially useful if you're a long-term buy-and-hold investor or looking to accumulate some coins. The rewards vary by coin, but those for more speculative coins are typically higher.
To validate and manage their decentralized system, some cryptocurrencies employ a "proof-of-stake" protocol. This allows those who own the digital currency to participate as validators and earn money by staking their coins. You'll help the infrastructure while also getting to keep your coin and possibly earning some money.
The following are some of the exchanges that provide Crypto staking:
- Binance - Great Platform for High Staking Rewards
- Coinbase – Popular Exchange That Also Offers Crypto Staking Services
- Gemini – Trusted Platform to Trade and Stake Crypto
- Crypto.com – Best Crypto Staking Platform for Flexible Withdrawals
- DeFi Swap – Best Crypto Staking Platform for High Interest
3. Free NFTs
A non-fungible token, or NFT, is a type of digital asset or artwork that has recently become extremely popular. Technically, NFTs are not a cryptocurrency, but they can be quickly exchanged for it. So, how do you get free NFTs to begin with? There are also giveaways for those.
If you're looking for NFTs, you have a few options. For starters, many new cryptocurrency projects offer NFTs as an "invite bonus" to their top supporters. You could follow a new cryptocurrency on its Discord channel in the hopes of being included in an invite bonus pool for people who drive the most traffic to the channel.
Another option is to regularly search Twitter for NFTs giveaways, which may be offered in exchange for retweeting and promoting the project. You could win an NFT by retweeting.
Of course, NFT giveaways can result in tax complications, so be aware of them.
4. Learn and earn
Some websites allow you to learn about cryptocurrency while also earning a small portion of it. To earn the bonus, you may need to watch some videos, take a short quiz, and pass.
Coinbase Earn is one site that rewards users for learning about cryptocurrency, but other sites, such as CoinMarketCap.com, also allow users to earn free rewards. The problem with these "learn and earn" promotions is that you may not always receive the cryptocurrency you desire.
5. Crypto savings account
Looking to combine an easy way to earn interest with cryptocurrency? A crypto savings account allows you to earn interest on your holdings while continuing to profit from their potential rise. Furthermore, the initial interest rates you receive may be significantly higher than those offered by traditional banking accounts.
BlockFi's savings account, which has a tiered rate structure, is one option. That is, the more you deposit, the lower your interest rate. High-flying coins like Bitcoin and Ethereum may offer an annual return of a few percent, whereas stablecoins may offer several percent higher interest, making them a more appealing place to keep your money.
6. Crypto lending
Increase your cryptocurrency game by lending money to borrowers and earning interest on the transaction. It's called decentralized finance, or DeFi, and it allows you to earn money through peer-to-peer lending by leveraging the power of digital currency and decentralized apps.
However, regardless of which lending platform or currency you use, you must ensure that the potential borrower can repay the money you've lent. Furthermore, to help reduce risk, it may make sense to fund many smaller loans or to fund them in collaboration with other lenders.
However, if you go this route, you must work with a well-established platform.
Best Crypto lending exchanges:
7. Get cash from a brokerage
Even a few traditional brokerages run promotions from time to time. However, these bonuses are typically paid in US dollars, but they can be instantly converted to cryptocurrency on the platform. Is that going too far with the premise of this article? Perhaps, but you'll still end up with cryptocurrency in your wallet.
One place to start is eToro, which operates as a crypto exchange in the United States but as a traditional broker in other countries. If your friend signs up and deposits, the broker will give you and your friend a referral bonus. Other traditional brokers that offer crypto trading, such as TradeStation, may also run promotions from time to time. Simply exchange cash for cryptocurrency.
8. Participate in an airdrop
The developers of a new cryptocurrency may conduct an airdrop – a giveaway – of their new coin in order to hype it and generate more interest and excitement around it. To be eligible for new coins, you may need to follow the crypto project on social media, track it on a Discord channel, or otherwise support the project.
However, it is important to note that many airdrops are scams, and even if they do deliver you some coins, those coins may be worthless. That worthlessness may be advantageous for tax purposes, as you will owe little if any, taxes, but it does nothing to increase your wealth.
You can check coinmarketcap.com to win lots of free crypto airdrop
9. Crypto credit cards
If you already have cash-back credit cards, it can be simple to switch to crypto rewards cards and receive cryptocurrency in exchange for your purchases. These credit cards may offer Bitcoin or other popular altcoins as rewards for purchases. Other spending bonuses may also be available.
Credit cards from BlockFi and Gemini are two popular options in this area.
Of course, these cards are subject to the same restrictions as other credit cards: Don't rack up a massive credit card bill in order to reap the relatively minor rewards.
10. Take surveys
It sounds like an old internet game with a new twist: complete a survey and earn money. But this time, the currency is cryptocurrency. That is something that some websites now allow you to do.
One participant in this category is Freecash, which provides daily surveys, games, and other paid offers. While you can receive your payouts in a cryptocurrency, you can also receive them in dollars or gift cards. The site may appear to have too many "bells and whistles," but you can still earn free cryptocurrency.
11. Browse the web
Looking for a cryptocurrency that you can earn while browsing the web? The Brave browser might be right for you. As long as you have the Brave Rewards program enabled, you will earn the cryptocurrency Basic Attention Token for using the browser.
Brave blocks typical ads and cookies, but allow you to view some ads in exchange for cryptocurrency. The program is available in the majority of countries, and the company claims to share 70% of ad revenue with users. Once a month, payments are made.
You're already doing it, so it might make sense to get paid to browse.
Bonus
Honeygain
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Watch out for scams
The cryptocurrency world is already rife with scams, and stories of crypto scams have been circulating for years. In the world of freebies, the situation can be even worse. This is because con artists love to prey on those looking for a freebie on the next big thing.
When looking for free cryptocurrency, it pays to be cautious. Some crypto scams, such as airdrops or initial coin offerings (ICOs), have a high likelihood of being complete scams. Avoid any promotion that requests your login credentials or private keys to a cryptocurrency wallet. Meanwhile, ICOs may require you to exchange your legitimate coins for a coin of questionable value.
Bottom line
If you want to earn free cryptocurrency, you have several options, ranging from the usual suspects like brokerages and exchanges that offer freebies to the unusual like airdrops and surveys. However, as you consider your free options, make sure you're working with a reputable partner, or it could be them who receives your cryptocurrency for free.