Nine ways to earn free crypto
Everyone loves free crypto, but when acquiring it, you must practise caution and conduct detailed research before exploring the free crypto sector. Here, we have compiled a comprehensive list of legitimate ways to earn free crypto.
Nine ways to earn free crypto
Airdrops are a convenient method of obtaining free crypto coins, similar to a giveaway. New crypto projects utilise it to generate interest and promote the adoption of a new cryptocurrency token before its official launch. Participants who express interest in the process receive free cryptocurrency as a reward.
In the past, crypto projects like Uniswap and Ethereum Naming Service (ENS) have utilised airdrops to reward early users and involve them in future governance decisions of the protocol.
2. Play-to-earn games
Play-to-earn gaming has emerged as a prominent sector within the crypto industry, experiencing substantial growth. Various games are available, with new ones continuously being developed. These include action-packed fighting, shooting, racing games, immersive RPGs, and captivating card-trading games.
These games allow players to earn rewards within their respective ecosystems by completing various tasks, missions, and objectives.
Moreover, many of these games have created expansive Metaverse worlds that enable players to construct and monetise virtual plots of land. Within these Metaverses, players can engage in activities such as resource mining, selling buildings, or even selling tickets to real crypto-based events.
3. Crypto staking
Crypto staking involves holding or storing a cryptocurrency for an extended period to earn interest. This process is commonly carried out within a staking pool using the proof of stake consensus mechanism. By staking cryptocurrency, users can earn a consistent percentage of returns, particularly if they hold it for a considerable duration.
There are two primary methods for participating in staking. The first approach involves directly depositing funds into the blockchain while eliminating the need for a third-party intermediary. However, the rewards obtained through this method tend to be relatively lower.
Alternatively, a more favourable option is to utilise a staking service provided by a regulated broker. This choice offers greater benefits and security for staking cryptocurrency.
4. Crypto bounty
Bug bounties are commonly utilised by cryptocurrency initiatives and exchanges to encourage software developers and security researchers to identify vulnerabilities within their programs. These bounties often come in the form of cryptocurrency rewards, the value of which varies based on the severity of the identified issue. The reward can range anywhere from a few hundred to tens of thousands of dollars.
Commenting on Reddit can be a smart move to earn free cryptocurrency. Users can acquire cryptocurrency by actively participating in discussions with fellow community members on the platform.
Certain subreddits, such as r/CryptoCurrency, offer the opportunity to earn cryptocurrency rewards for users who receive upvotes on their posts and comments.
6. Yield farming
Yield farming involves stacking multiple decentralised finance (DeFi) protocols to maximise the obtained rewards. While some investors employ their distinct strategies, some opt for yield farming protocols to handle the laborious tasks on their behalf. Users can effortlessly earn free cryptocurrency by depositing their assets into a specific DeFi protocol.
7. Brave browser
Consider switching from current browsers, such as Chrome, Firefox, Safari, or even Internet Explorer, to the Brave browser.
Brave offers a browsing experience prioritising security and privacy, sparing users from constant ad bombardment. It is among the most popular browsers for crypto investors and has 50 million active users.
Unlike mainstream browsers that collect user data for targeted advertising, Brave has introduced the innovative Brave Reward program. Users can earn free cryptocurrency in the form of BAT (Basic Attention Tokens), receiving 70% of the ad revenue by viewing ads.
8. Promotion and Welcome Bonuses on crypto exchanges
Some cryptocurrency platforms and exchanges offer a sign-up or welcome bonus, rewarding individuals who register on their sites and fulfil the required verification procedures.
However, it's important to note that some exchanges don't give immediate sign-up bonuses after creating an account. For example, Coinbase requires users to purchase crypto to claim the bonus.
Additionally, exchanges run referral programs that let users earn free crypto by referring people to their platform.
For example, with the Trezor referral program, users can earn up to 12%-15% in commission for each referral. Coinbase offers 50% of the referees' trading fees for the first three months after they create a Coinbase account.
Faucets are platforms that allow individuals to acquire small amounts of cryptocurrency by engaging in simple tasks such as viewing advertisements, completing a survey, playing mobile games, or solving captchas.
These platforms serve as a convenient starting point for individuals who wish to earn crypto coins without requiring investments or specialised skills. Some notable examples of cryptocurrency faucets include FreeBitcoin, Moon Bitcoin, and Satoshi Quiz.
Author: Priya Kumari
Priya is a passionate content writer and the co-founder of Finendorse. She is an enthusiastic crypto investor and has a huge interest in the upcoming digitisation age.