The popularity of cryptocurrency is accelerating rapidly. In fact, several industries have already started to integrate crypto into their operations. Thus, the value of owning crypto is increasing, so you may want to start investing in these digital currencies.
That said, did you know that there are several ways to earn crypto without using any of your own money? From crypto interest accounts to crypto-backs, we share some of the best strategies to earn free crypto!
1. Open A Crypto Interest Account
One of the best ways to earn free crypto is to open a crypto interest account like Swyftx Earn. Just like a regular bank savings account, a crypto interest account allows you to earn interest on your crypto holdings. However, unlike most banking accounts, crypto interest accounts offer higher interest rates, allowing you to earn more on your crypto assets.
For instance, Swyftx Earn allows users to deposit crypto and start earning interest immediately. At present, they have 20 different coins supported, with interest rates ranging from 3.98%-80%APY. To learn more about their offerings, have a peek at this website.
2. Signup To A Crypto Platform
‘Sign up now and get $10 on your shopping account now!' You've probably seen this promotion in most eCommerce stores. Today, most crypto platforms now also offer these kinds of promotions. This promotional strategy of online platforms is designed to encourage signups and to do business with them.
Since it's quite common, you want to pick the best option you can find. While this is one of the best and easiest ways to earn free crypto, you still need to put some effort into it. In general, you should look at popular crypto platforms and exchanges, since they offer legit signup bonuses.
Furthermore, once you signed up with a platform, don't forget about it. These platforms may also offer other promotions and bonuses so stay tuned for any opportunity to earn more.
3. Try Crypto Staking
Crypto staking can help you get free coins, but it's often used as a continual source of income, with the right knowledge and experience.
At its core, staking means locking up your cryptos to validate new blocks on blockchains. This can only be done on Proof-of-Stake (PoS) blockchains such as Cardano since a Proof-of-Work (PoW) blockchain like Bitcoin doesn't have this feature.
Since you're helping with the validation process, staking your existing coins allows you to earn free cryptos as a reward. Take note that these rewards will vary, however, the most speculative crypto coin can provide the highest profits. In general, most crypto exchanges such as eToro offer crypto staking services to their users.
4. Play Games
If you like games and want to earn free cryptos, then you're in luck. You can find several crypto-earning games available today. However, you should know that the crypto rewards from playing a specific game can vary greatly and will take some skills and a very long time to meet their minimum withdrawal amount.
That said, some of the most popular games where you can earn free crypto include:
- Axie Infinity
- My Crypto Heroes
5. Participate In Crypto Airdrops
Perhaps one of the best and least stressful ways to earn crypto is to take part in airdrops. Airdrop is the process of distributing crypto for free to people who are interested in a particular crypto project. In general, the process occurs when trying to create hype and excitement around an upcoming token launch.
Most De-Fi coins started by creating a community of like-minded investors and then airdropping tokens to the community before the project was launched. As a result, those who obtain free coins from the airdrop may benefit from the price increase when the asset is listed on exchanges.
The criteria to earn free crypto via airdrops will depend on one platform to another. However, it usually involves promoting the specific project in some way, often on social media.
6. Use Crypto Faucets
Using crypto faucets is a way to regularly generate small amounts of crypto for completing easy and quick tasks. In general, these tasks don't require a high skill set and are often monotonous. That said, when performed over the long term, it allows you to create a notable income stream.
Some examples of crypto faucets may include watching videos, viewing digital ads, participating in quizzes, completing CAPTCHAs, and so much more. The amount of crypto you'll earn will depend on the provider and the task you perform. Although, don't expect too much.
7. Get Crypto-Back
Crypto-back is the cryptocurrency version of a cashback, working in much the same way as the standard cashback system: you make a purchase through a website or an app and receive a percentage of your purchase back. But instead of cash, you get it in the form of crypto.
With more businesses adopting crypto into their operations, we see more shopping apps using crypto for payment as well as providing discounts and rewards like crypto-backs.
8. Open A Crypto credit Card
Speaking of cashback, you probably get most of your cashback rewards from your credit card purchases. In this case, you can try opening a crypto credit card. It follows a similar structure to regular credit cards, allowing you to shop using your cryptocurrency assets while earning free coins in the form of crypto-back. Aside from crypto-backs, some platforms may also offer signup bonuses for opening crypto credit cards as well as providing seasonal promotions that can help you earn more coins.
There's now an abundance of providers offering crypto debit and credit cards. Most of the best crypto exchanges offer dedicated card services, allowing you to use your crypto holdings to pay for services and goods. The best thing about this is that the merchant or store doesn't have to accept crypto as payment for you to use the card since the card provider handles the exchange process. In short, you can pay in crypto, but the store can receive in fiat, making it a win-win situation.
As you can see, there are several ways to earn crypto without spending anything. You only need to find the right method from the above list and start earning your free crypto.
That said, take note that the above options won't make you rich anytime soon. However, they are a good start when thinking about dipping your toes in the fast-expanding world of crypto!