How to Earn Free Cryptocurrencies: 11 Easy Ways
1. Register on an exchange
Many cryptocurrency exchanges will give you some cryptocurrency in your wallet if you sign up as a customer (just as brokerages will give you cash if you sign up as a customer). You may want to go with the best option available, though it might be worth your time to earn them all. The good news is that this is one of the safest options if you’re looking to earn free coins, though you’ll have to put some in yourself.
Some of the exchanges that offer free cryptocurrency include the following:
From time to time, other exchanges add promotions or provide limited-time bonuses, so keep an eye out for those additional opportunities.
2. Cryptocurrency participation
Staking your crypto can help you earn a steady stream of income, and that can be especially advantageous if you’re a long-term buy-and-hold investor or looking to accumulate a few coins. Rewards vary from coin to coin, but those for more speculative coins tend to be higher.
Some cryptocurrencies like Ethereum use a “proof-of-stake” protocol to validate and manage their decentralized system. That gives those who own the digital currency the opportunity to participate as validators and earn income by staking their coins. You’ll support the infrastructure, get to keep your coins while you do it, and even earn some income too.
The Securities and Exchange Commission (SEC) has questioned some gambling programs for being unregistered securities offerings, which are illegal. Cryptocurrency exchange Kraken has agreed to end its staking program in early 2023 as part of a settlement with the SEC.
3. Free NFTs
A non-fungible token, or NFT, is a type of digital asset or artwork. Technically, NFTs aren’t cryptocurrencies, but you can redeem them for crypto quickly. So how can you get free NFTs in the first place? There are giveaways for them, too.
If you’re looking for NFTs, you have a couple of good avenues. First, many new crypto projects offer NFTs as a sort of “invite bonus” to their top followers. You could follow a new cryptocurrency on its Discord channel in hopes of getting into an invite bonus pool for the people who drive the most traffic to the channel.
Another alternative is to regularly search Twitter for NFT giveaways, which may be offered for retweeting and promoting the project itself. A retweet could give you a chance to win an NFT.
Of course, NFT gifts can raise some tax issues, so keep those in mind.
4. Learn and earn
Some websites offer you the opportunity to learn about cryptocurrencies and make some money at the same time. You may have to watch a few videos, take a short quiz, and pass it to earn the bonus.
Coinbase Earn is a site that offers rewards for learning about cryptocurrencies, but others like CoinMarketCap.com also provide the opportunity to accumulate free rewards. However, the problem with these “learn and earn” promotions is that you may not always get the cryptocurrency you want.
The SEC sued Coinbase in 2023, alleging that it had illegally operated as an exchange, broker-dealer and clearing agency, and that it had offered and sold unregistered securities. The lawsuit, which is ongoing, claims that Coinbase deliberately violated securities laws designed to protect investors. Coinbase said it would continue to operate as usual.
5. Crypto savings account
Are you looking for an easy way to earn interest with cryptocurrencies? A cryptocurrency savings account allows you to earn interest on your holdings while continuing to enjoy their potential upside. And the initial interest rates you receive can be much better than with traditional bank accounts.
One option here is the Crypto.com Savings Account, which offers a tiered rate structure. That means the more you have deposited, the lower your interest rate will be. High-flying coins like Bitcoin and Ethereum can offer a few percent annual returns, while stablecoins can offer several percent higher interest, helping to make them a more attractive place to store your money. .
6. Cryptocurrency loans
Take your cryptocurrency game to the next level and lend money to borrowers and earn interest on the transaction. It’s called decentralized finance or DeFi, and you can use the power of digital currency and decentralized applications to make money through peer-to-peer lending.
However, regardless of the lending platform or currency you use, you will need to ensure that the potential borrower can pay back the money you have lent them. Additionally, it may make sense to fund many smaller loans, or fund them in connection with other lenders, to help reduce risk.
However, if you go this route, it is important that you work with a well-established platform.
7. Get cash from a brokerage
Even some traditional brokerages offer promotions from time to time. However, these bonuses are usually paid in US dollars, but can then be immediately converted to cryptocurrencies on the platform. Is the premise of this article exaggerated? Maybe, but you will end up with cryptocurrencies in your wallet anyway.
A good place to start is eToro, which operates as a cryptocurrency exchange and traditional brokerage in the US, although it is a traditional brokerage in other countries. The brokerage offers a referral bonus for you and your friend if your friend signs up and makes a deposit. Other traditional brokerages that offer cryptocurrency trading, such as Robinhood or Webull, may also run promotions from time to time. In that case, you just have to exchange cash for cryptocurrency.
8. Participate in an airdrop.
The developers of a new cryptocurrency may do an airdrop (a giveaway) of their new coin to promote it and generate more interest and excitement around it. You may have to do a few things to have a chance of receiving new coins, such as following the crypto project on social media, tracking it in a Discord channel, or supporting the project in another way.
However, it’s worth noting that many airdrops are scams, and even if they do give you some coins, they may end up being worthless. That worthlessness may be good for tax purposes (since you won’t owe much tax, if any), but it does nothing for your wealth.
9. Crypto credit cards
If you already have regular cashback credit cards, it may be easy to make the jump to crypto rewards cards and enjoy crypto in exchange for your purchases. These credit cards may offer rewards for purchases in the form of Bitcoin or other popular altcoins. Other spending bonuses may also be available.
One option here is the Gemini credit card.
Of course, the same caveats apply to these cards as they do to other credit cards: Don’t run up a huge credit card bill trying to earn relatively modest rewards. But you’ll also want to be aware of other cryptocurrency-specific risks.
10. Answer surveys
It sounds a bit like an old Internet game with a new trick: take a survey and earn some money. But this time, the cash is crypto. And that’s what some sites allow you to do these days.
One player here is Freecash, which offers surveys, games or other paid offers every day. While you can receive your payments in cryptocurrency, you can also receive them in dollars or even gift cards. The site may seem too “bells and whistles”, but you can still earn free cryptocurrency.
11. Surf the web
Looking for a cryptocurrency you can earn while browsing the web? The Brave browser may be for you. You’ll earn Basic Attention Token cryptocurrency for using the browser as long as you have the Brave Rewards program activated.
Brave blocks regular ads and cookies, but still gives you the option to view some ads in exchange for cryptocurrency. The program is available in most countries, and the company shares 70 percent of ad revenue with users, it says. Payments are made once a month.
It’s something you’re doing anyway, so maybe it makes sense to get paid to surf.
Beware of scams
The cryptocurrency world is already rife with scams, and cryptocurrency scam stories have already been legion for years. That situation can be even worse in the world of free gifts. This is because scammers love to take advantage of those looking for a freebie on the next big thing.
Therefore, it pays to be on your guard when looking for free cryptocurrencies. Some crypto scams, such as airdrops or initial coin offerings (ICOs), have a high potential of turning into outright frauds. Stay away from any promotion that asks for your login credentials or private keys for a crypto wallet. Meanwhile, ICOs can force you to exchange your legitimate coins for a coin of dubious value.
As usual, if the gift seems too good to be true, it probably is.
Bottom line
If you’re looking to earn free cryptocurrency, you have several options, from the usual ones at brokerages and exchanges that offer giveaways to unusual ones like airdrops and surveys. However, as you look into your free options, make sure you’re working with a reliable partner or you may just be stuck. them Who gets his free cryptocurrency.
Editorial Disclaimer: All investors are advised to conduct their own independent research on investment strategies before making an investment decision. Additionally, investors are cautioned that the past performance of investment products is no guarantee of future price appreciation.