Source : cryptodaily.io
It’s no secret that cryptocurrency is experiencing a massive surge in value and popularity right now. If you’re looking to get in on the action, you may be wondering how to go about earning your first coins. Luckily, there are plenty of ways to do so – many of which don’t require any investment at all! This article will explore how to earn crypto for free. So whether you’re just starting out or looking for more ways to add crypto to your portfolio, read on for some helpful tips.
Why Would Crypto Platforms Give Free Crypto?
Earning free crypto can make you skeptical. Why would people randomly give out free blockchain currencies? The answer to this question is simple. It’s a marketing strategy.
Cryptocurrencies are products, and like many products, they need to attract clients. Crypto freebies are one of the strategies used in the crypto world to get people to know about crypto, use crypto coins or crypto services, and follow or participate in certain crypto-related activities.
Non-crypto organizations, too, have found a way to leverage crypto rewards to attract their intended clients. Stores like fast-casual burger chain Shake Shack give free bitcoin to attract younger customers.
So, if you are feeling uncertain about the possibility of earning free crypto, rest easy. It is possible and legal to earn cryptocurrency without investment.
How to Earn Crypto Without Buying It
There are multiple strategies you can use to earn free crypto in 2022. Many cryptos and even non-crypto platforms are embracing the idea of giving clients free tokens to entice them. To help you explore some of these strategies, here’s a list of nine tips on how to earn cryptocurrency without investment.
Look For Crypto Sign-up Bonuses
Exchanges, crypto wallets, and other Decentralized Finance (DeFi) platforms are looking for more people to open new accounts. Many crypto sites are also going out of their way to give clients enticing sign-up bonuses. Here are a few sites with irresistible crypto sign-up bonuses.
For crypto sign-up bonuses, all you need to do is register an account on the platform offering the bonus and ensure you complete the verification process. However, these platforms are very thorough with their registration process.
So, it may not pay off if you plan on using a dummy account. You have to use your verifiable details, especially to make it through the KYC process, if you are considering sign-up bonuses as one of the ways to earn free crypto.
Refer a Friend
Another easy way to earn free crypto is to refer a friend to one of the platforms you have already signed up on. Crypto referral bonuses allow you, and sometimes even your referral, to earn free crypto. The sites in the list below are great alternatives to get you started on making free crypto.
Different sites have different requirements. Your invitee needs to sign up using a referral code. Others give bonuses when the invitee makes a trade or purchases a service on the platform.
Mine Some Crypto
Mining crypto is one of the most lucrative ways to get free crypto in 2022. When currencies like Bitcoin emerged, mining was considered the best way to earn free crypto. At the time, mining a single block could earn you 50 BTC, roughly worth $50,000 by November 2013.
Over time, more currencies have popped up, increasing the pool of people needed to enter new coins into circulation. This means you get more chances to make free crypto through mining. Below is a list of some coins you can mine for crypto rewards.
Mining may be costly to set up as an individual, so you can opt for pool mining, which reduces mining costs significantly. It also pays to have a mining profitability calculator to track whether you are making free crypto.
Play Crypto Games
Among the most incredible opportunities that crypto provides is a chance to earn crypto through playing virtual reality games. The merging of the gaming sector with decentralized finance led to the rise of GameFI, which has enormous crypto earning potential.
Many will argue that the crypto rewards you get from crypto games aren’t entirely free because you must fund the games first. But, if the amount you spend funding the game is significantly lower than the rewards you earn, you have earned free crypto.
This is especially the case on platforms like Lucky Block. Lucky block. This is a crypto lottery platform where you buy a ticket worth $5 to enter the draw. What’s impressive about it is that it has jackpots of about $1 million paid out in LBLOCK, the platform’s native token. You may spend on the ticket, but such a huge reward counts as free crypto.
Participate in a Crypto Faucet
A crypto faucet is one of the easiest ways to earn free bitcoins or other cryptocurrencies. Typically, you find a crypto faucet website, or app that asks you to do specific tasks, then rewards you in cryptocurrency. Tasks can range from simple surveys, watching ads, or doing simple quizzes. Here are a few crypto faucets you can explore and the type of free crypto coins you can earn from them.
Get a Crypto Credit Card
Crypto credit cards are gaining popularity as one way to reward loyal clients. Like ordinary credit cards, crypto credit cards reward you for using them when making purchases; only instead of fiat, they reward you in crypto.
For instance, the leading blockchain asset exchange platform Gemini is famous for its Gemini Credit card, which gives you one of the easiest ways to earn Bitcoin. For every purchase made on the card, you get a maximum of 3% back paid in bitcoin. Bitcoin too has its classic visa card, the Bitcoin Rewards Card that gives you back 1.5% in bitcoin every time you use it to pay for something.
Other popular blockchain platforms like BlockFi and SoFi also offer crypto credit cards, and now mainstream credit cards like Mastercard are following suit. Through a partnership with digital asset platform Bakkt, Mastercard will start giving high-risk investors free crypto as rewards.
Download Crypto Cashback Apps
If you’re wondering how to earn cryptocurrency without investment, there are several apps you can download to get free crypto coins. Since most of these apps don’t require you to do much to earn your rewards, they make some of the easiest ways to earn free crypto.
Apps like Drop and Lolli give you bitcoin cash back rewards when booking hotels, shopping, or paying for meals using the app. Other apps like sMiles will give you rewards for playing move-to-earn games. The rewards on this app are paid in bitcoin, so it’s one of the excellent ways to earn free bitcoin.
Lend Out Crypto
Crypto lending can help you earn a decent sum of free crypto. There are two forms of crypto lending that you can engage in, centralized crypto lending or decentralized crypto lending.
In centralized lending, you put your crypto assets in the lending account, and then the lending platform loans out your assets to borrowers who pay back with interest to the lending platform. The lending platform then gives you a cut from this interest.
Decentralized lending works more or less the same way. The only difference is that instead of having the lending platform in charge of the entire borrowing, lending, and interest payment, DeFi uses smart contracts, which many landers believe to be more efficient and less corruptible.
Stake Your Crypto
If lending sounds a bit too risky for you, you can try out staking to get your free crypto. Staking involves locking up your crypto coins in a staking account for them to provide liquidity for trading pairs. Simply put, you are placing crypto in circulation to help improve the odds of it being traded by others.
Staking is a great way to earn free crypto, but you should do it on a stable crypto staking platform and learn as much as you can about it to avoid making losses. Some platforms you can consider for crypto staking are in the list below.
How Can I Get Free Crypto?
There are many ways to get free cryptocurrencies. You can consider signing up to blockchain platforms with a sign-up bonus or those with a bonus for referring people to the platform.
You can also try playing crypto games with crypto rewards or downloading apps that pay you in crypto for specific tasks.
You can start mining or staking crypto if you prefer more involving ways of earning free crypto. Alternatively, you can join a crypto lending platform and become a crypto lender.
Which Crypto App Gives Free Coins?
Several crypto apps can help you earn free crypto coins. These apps include Lolli, Drops, and sMiles which give you Bitcoin cash back rewards for shopping, dining, booking hotels, or playing move-to-earn crypto games.
How Can I Make My Own Cryptocurrency Coin For Free?
You can make free cryptocurrency coins by playing crypto games, mining for crypto coins, staking your cryptocurrencies on staking platforms, or lending out tokens for interest payments on crypto lending sites.
Is Free Bitcoin Real?
Yes. Free Bitcoin is real. You can get it from legitimate crypto faucet sites like Free bitcoin and Cointiply. You can also get free Bitcoins for using Bitcoin’s visa card to make payments.