Everyone loves free stuff, especially stuff that has the potential to appreciate in value, like cryptocurrencies. Free cryptocurrencies can give you access to the crypto market and can even be a way to expand your investment portfolio. Getting free cryptocurrency is never a bad idea, no matter what advantages it offers. There are many ways to get free cryptocurrency, and here’s how you do it.
What is free cryptocurrency?
Buying cryptocurrencies to own them is a normal thing people do; however, this is not the only way to own cryptocurrencies. Several encryption platforms offer encryption methods for free. However, they are not exactly “free” as they are often motivation to perform certain tasks, usually revolving around marketing.
In most cases, the required tasks are easy to complete, including postings, sign-up bonuses, and more.
9 Ways to Earn Free Cryptocurrency
Now let’s look at possible ways to get free cryptocurrencies.
1. Crypto Exchange Signup Bonuses and Promotions
Some cryptocurrency platforms and exchanges offer sign-up bonuses. They offer a sign-up bonus as a reward to anyone who registers on the platform and completes the verification process if required. Additionally, some offer bonuses when someone signs up through your referral link. Once the referred person completes the required process, you or both parties will receive a sign-up bonus.
Following the exchange’s social media platforms and subscribing to their email list can help you stay up to date on upcoming promotions and time-limited bonuses. Some of the platforms where you can get sign-up bonuses include Coinbase, Crypto.com, Gemini, BlockFi, Phemex, and WeBull.
2. Crypto Staking
Staking is a process that involves locking or holding your cryptocurrency over time to earn interest. This process typically takes place in a stake pool using a proof-of-stake consensus model. It allows you to earn a certain percentage continuously, especially if you hold it for a long time.
For example, Crypto.com offers up to 14.5% annual crypto staking (on some cryptocurrencies); however, stablecoins have an annual yield of 8.5%. Additionally, you can stake cryptocurrencies on exchanges like Coinbase, Binance, etc., while some cryptocurrency wallets come with integrated crypto staking like Exodus and Atomic.
3. Airdrop participation
Airdrops are an easy way to get free cryptocurrency that seem more like a giveaway. The airdrop generated significant interest and adoption of the crypto token ahead of its launch. The process involves the free distribution of cryptocurrency to interested participants. But you have to do a few things to become a beneficiary.
Different platforms have different criteria to qualify for airdrops. However, in most cases, the requirements revolve around building the hype surrounding crypto tokens and promoting them on various platforms. You will also need a wallet to store your tokens.
Many airdrops offer coins that end up being worthless. Therefore, before participating, you need to ensure that the airdrop is conducted by a reputable brand or developer. Even so, you’ll need a bit of luck to participate in profitable airdrops.
4. Learn and Earn
Taking a cryptocurrency course can be a bit boring. But when there are bonuses attached, it can become charming. The Learn and Earn program offers a two-way advantage as you gain knowledge and earn cryptocurrency at the same time.
Earn rewards for completing course modules, watching tutorial videos, taking quizzes, and more. The best platforms to learn and earn money include Coinbase, Binance, CoinMarketCap, KuCoin, and more.
5. Crypto Lending
In crypto lending, you deposit cryptocurrencies on an exchange to make them available to investors. You can then earn interest on your loaned cryptocurrency on a daily, weekly or annual basis. Borrowers must submit collateral to the exchange in the form of cryptocurrency. The value of the collateral is always higher than the cryptocurrency being lent, and if the borrower fails to fulfill the repayment agreement, he risks losing the collateral.
Many crypto lending platforms offer interest rates of 10%–20% per year. Platforms you can lend cryptocurrencies to include CoinRabbit, BlockFi, Nexo, and YouHolder.
6. Play games (P2E), exercise (M2E)
If you like playing games, you can earn some cryptocurrency from your passion. Some platforms offer cryptocurrency as an incentive to play games. The process is called “play for money” because you unlock crypto tokens as you complete in-game tasks. You can also get some in-game assets in the form of NFTs, which you can sell or exchange for cryptocurrency. Common P2E encryption games include Sandbox, Lucky Block, Tamadoge, MetaBlaze, etc.
But if sitting down and playing games isn’t your thing, you can also try exercising to earn free cryptocurrencies. Move-to-earn rewards participants with cryptocurrency to get up and leave, whether walking, running or otherwise.
7. Crypto Mining
Mining requires the use of powerful computing systems that use cryptographic algorithms to solve complex equations. This process requires a decentralized network of computers to work and requires a lot of computing power, making it difficult for one person to perform. Therefore, it is best carried out by a professional company or a group of interested individuals.
Unfortunately, due to its complexity, this process is not easy for independent miners. Joining a mining pool is a good idea because you need a lot of computing power and high computing power to mine Bitcoin. Common Bitcoin mining software includes CGminer, Awesome Miner, Easy Miner, Kyptex Miner, and ECOS.
8. Conduct investigations
Some platforms seek people’s opinions and feedback to facilitate decision-making. So they want you to take surveys and get paid in cryptocurrency. If your feedback is useful and coherent, we’ll provide you with multiple surveys every day. These platforms have profit thresholds that you must reach before you can quit. Limitations vary by platform. Major survey sites that use cryptocurrency payments include Timebucks, Grab Points, Survey Time, Contiply, and InstaGC.
9. Crypto Faucets
Crypto faucets allow you to earn cryptocurrency by completing simple tasks. The platform rewards you for performing simple tasks such as playing games, solving puzzles, watching ads, and more. You don’t need formal training to benefit from crypto faucets.
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Participating in faucet is usually simple. Typically, you need to fill in some basic information and your wallet address to register; you can then start performing the required tasks. Platforms offering faucet services include Cointiply, Bestfaucetsites, Free Litecoin, MoneroFaucets, and Faucet Crypto.
Beware of scams
To protect free crypto, beware of scams – freebies are often traps. Instead, make sure to implement the necessary measures to mitigate possible risks.
Do not release sensitive information such as your login information and wallet credentials to anyone. Be wary of unknown emails and social media posts asking you to earn a reward for clicking a link. Phishing links can steal your personal details, passwords and PINs.
Also, beware of programs that require you to trade coins for more tokens. Scammers often use this method to trick people and get their passwords. Staying and trading on reputable platforms can help reduce the risks associated with cryptocurrency fraud.
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