Can you earn cryptocurrency for free? You must be asking yourself this question to avoid missing out on the next price increase of crypto coins but not willing to take the risk of buying them due to their volatility and because they’re very expensive.
If you’re in such a position, you’ll be glad to know that there are ways you can earn cryptocurrency for free which is possible thanks to the decentralized nature of the cryptocurrencies market.
By earning cryptocurrency for free, you don’t need to take any unnecessary risk with your hard-earned money to buy these digital currencies, which are becoming more expensive with each passing day. So, without further ado, let’s jump ahead and take you through some ways you can earn free cryptocurrency.
1. Trading Cryptocurrency
Do you possess the technical skills needed to analyze the markets to predict whether it’s going up or down when trading? If so, you should consider playing a Bitcoin trading game as this is an excellent opportunity to earn free cryptocurrency. The technical skills of assessing the market conditions to determine whether they’re going up or down is a rare gift, so you need to capitalize on it to earn free crypto coins.
Cryptocurrency trading entails buying an asset at a specific price and later selling it at a higher price. As a result, you earn free crypto coins in the process. When trading cryptocurrency, there are several things you need to consider, including;
- The speed of fiat money transfers
- The difference in price between the crypto exchanges
Because of such factors, you should automate this process by using trading bots that trade according to your stated trading rules and strategies and work 24/7.
The term airdrop refers to a marketing strategy employed by new blockchain developers to give users free crypto coins. This technique is often executed to boost the awareness of this new cryptocurrency and to boost its adoption by increasing its circulation supply and promoting trading activity by creating a community of users.
For you to earn cryptocurrencies in airdrops, you need to complete small tasks such as;
- Inviting a friend
- Downloading a wallet
- Sharing for Facebook of Twitter
- Signing up using your email
However, it would be best to be very cautious when dealing with airdrops due to the high number of scams to collect sensitive details, such as know-your-customer (KYC) documents and emails. Therefore, you should only participate in certified airdrops.
You also shouldn’t have too many expectations that the new cryptocurrency offered through airdrops will end up increasing in value. But since you’ll have gotten the crypto coins for free, you have nothing to lose by trying your luck with these airdrops. After all, a couple of fairly large cryptos, for example, NEM, Decred, and Stellar, started through airdrops.
3. Bitcoin Faucets
You can earn free crypto coins through Bitcoin faucets as well, which reward you with free cryptocurrency to finish specific tasks. Examples of these tasks include playing online games, watching ads, taking surveys, and online quizzes.
Once you finish these tasks, you’re rewarded with Satoshi, which is bitcoin’s smallest unit. One Satoshi is equal to a 100 millionth part of a bitcoin; 1 Satoshi = 0.00000001 bitcoin. Therefore, you should put in a significant amount of effort and time to try and earn as much Satoshi as possible each day for the sum to be decent.
For you to earn free bitcoin and other cryptocurrencies, there are a couple of Bitcoin faucets to consider, including;
- Satoshi hero
- FreeFaucetSatoshi Labs
These are just the most popular platforms where you can earn free bitcoin, and there are other upcoming sites that you can also check out.
Another excellent way of earning free bitcoin is through mining. But before you can start mining cryptocurrency, you’ll need lots of cheap energy and a significant amount of computing power. Companies have also jumped onto this opportunity to earn free crypto coins, and this is a task that’s nowadays being done on an industrial scale.
Before you can start mining cryptocurrencies, you’ll need to install programs that use considerable computer resources when mining and still not affect the computer’s daily use. Considering the considerable computing needed during bitcoin mining, you’ll need to invest in very powerful hardware to ensure you aren’t using as much power as the Bitcoin you’ve mined.
5. Participating In Affiliate Programs
Almost every sector has affiliate marketing programs, and so does the cryptocurrency industry. Therefore, you should take advantage of this, and it’s possibly the easiest way you of earning free cryptocurrency. You’ll earn the free cryptocurrency by referring people to exchanges or projects and get paid a percentage or flat fee for your efforts.
You can also earn free cryptocurrency by running an ad campaign. This way, you’ll be given free cyrtos for every person that signups or transactions completed. In addition, you’ll receive additional crypto coins if your friends refer other users using your link in what’s referred to as Tiered Referral System. This makes an excellent passive income and allows you to grow your passive income slowly.
6. Staking Cryptocurrency
This is also another innovative way you can earn free crypto coins by receiving interest. The staking process involves where you stake your coins on exchanges, such as Gemini or Coinbase, to validate transactions. Consequently, these platforms will pay you interest for your troubles.
For example, you can stake Ethereum on crypto exchanges such as the ETH2 network and get paid interest of about 7%. Therefore, it would be best to consider staking as this allows you to grow your cryptocurrency portfolio over time gradually.
7. Bitcoin Games
Do you enjoy playing online games? If so, you’ll be glad to know that you can also earn free crypto coins by playing Bitcoin games, as mentioned above. While such games usually have lots of adverts, they’re indeed worthwhile, considering you don’t pay a penny for the free cryptocurrency while doing something you enjoy. An example of such a game is Rollercoin.
Not a day can end without hearing discussions of cryptocurrency. Therefore, it’s evident that this digital currency has become quite popular not only to the finance or tech geeks but also to the general public. But if you’re risk-averse, this doesn’t mean you should miss out on a piece of the action.
The best way to do this is by getting free cryptocurrency if you’re not in a financial position to buy crypto coins. As a result, you won’t miss out on this lucrative sector, and this post has enlightened you on ways you can earn free cryptocurrency.