In the past few years, cryptocurrencies have become one of the quickest ways to make and even multiply money. All that is needed is to buy crypto coins and sell them off when their value increases to make a profit. Unfortunately, however, the market value of crypto has increased substantially over the years, making it unaffordable for most people. Fortunately, you can earn cryptocurrency without having to pay for them. Here are five ways to earn free crypto.
Coinbase is primarily a cryptocurrency trading site. But they offer a system (the Earn program) that rewards users with free coins in exchange for learning cryptocurrency with them. At the moment, you can learn about Zcash, EOS, and a few other cryptocurrencies. To receive the free cryptocurrency, you must watch a few videos and accurately answer a few questions. After that, Coinbase will send a small amount of the crypto you learn about into your account, which is a tremendous benefit. As a result, a person has the opportunity to earn a wide variety of Coins for free while still learning.
Even better, you don’t have to pay anything to obtain these coins, and if you fail the first time, you can retake the test as many times as you need to pass it. However, it is crucial to remember that to benefit from these features; you must first sign up for the Coinbase platform. They have a KYC (Know Your Customer) policy that asks you to provide proof of identification and photos. Aside from that, there are no barriers to one’s earnings.
Airdrops are another fantastic option to receive free coins without having to go through a long and drawn-out set of protocols and procedures. New cryptocurrency platforms looking to grow their user base and gain more exposure from their users may provide free cryptocurrency to those who utilize their services.
They occasionally provide them Bitcoin airdrops and free cryptocurrency tokens in exchange for the amount of time they spend on their platforms. When Uniswap transferred 400 UNI to all wallets connected to their platform a few years ago, it was the first time this would happen in the cryptocurrency community. Those units are currently worth approximately $9,000.
Platforms like Benzinga and Hi have registered on Pancakeswap. They are making their tokens – Zing and Hi Dollar – available for free to users of their respective platforms for the moment. Users can also earn tokens by referring others to use their services and purchase their tokens.
Even though they are risky and have a famously low ROI (Return on Investment), crypto faucets are an alternative method of earning crypto coins without spending any money on them. Of course, many people don’t use them anymore, but they are a feasible method of earning cryptocurrency coin rewards.
The way they operate is relatively straightforward. Tasks are assigned to individuals. Some tasks could be as basic as clicking on advertisements or answering simple quiz questions, while others could be more involved, such as playing games and completing missions.
Following the completion of these tasks, participants are rewarded with modest amounts of cryptocurrency. Usually, they use a Satoshi. A Satoshi is one-hundredth of a millionth BTC. As a result, this method is usually neglected because it is perceived to be “not rewarding” enough compared to the effort required. Freebitcoin.in, Faucethub.io, Moonbitcoin, and other similar websites are examples of legitimate faucets websites that exist today.
Staking is quite different from every other one above because it requires you to have cryptocurrencies first. The most significant advantage of staking cryptocurrency is that, just as it is when you deposit money in a bank Savings Account when you stake your Crypto coins, you can earn interest on those coins as if they were bank deposits.
Staking cryptocurrency is one of the most innovative and rewarding ways to earn free cryptocurrency. However, staking on platforms such as Aave, Compound, and Uniswap can be tricky and requires a lot of patience. Nevertheless, there are options to stake cryptocurrency on exchangessuchasCoinbase and Gemini.
Users will earn interest on their cryptocurrency assets, and the percentage and currency will depend on the platform. To stake your cryptocurrency on Coinbase, you must first join the Ethereum staking waitlist. Once approved, you can begin staking your Ether tokens to earn interest on his cryptocurrency.
While Coinbase requires investors to join a waiting list, Gemini allows you to start staking Bitcoin for interest without first entering a waiting list, allowing you to expand your cryptocurrency positions immediately.
These days, Cryptocurrency credit cards are a great way to earn more free crypto and increase your cryptocurrency holdings. A cryptocurrency credit card works in the same way as traditional rewards cards. The exception here is that you will receive cryptocurrency tokens instead of cash back or points for each swipe.
Gemini and other exchanges and fintech firms like BlockFi and Upgrade have announced plans for cryptocurrency rewards credit cards. The reward categories on these cards are quite similar to those on many regular cashback credit cards.
Finally, the cryptocurrency market is a fascinating one to watch. While it can be highly profitable, it is also extremely volatile. You can add to the crypto you earn for free by buying more or trade the ones you have to increase your holdings through profit. While they may look the same, they are different. When you buy, you can simply hodl your crypto for a long time, but with trading, you are buying to sell again soon for profit.
Furthermore, freebies and bonuses would not always be available because the companies providing them would not want to put themselves in a position where they would have to declare bankruptcy. So, it is best to take advantage of these perks while they are still available. However, it is important to remember that due to the market’s volatility, you can easily lose all you’ve made. As a result, everyone is encouraged to only invest what they can afford to lose.