It’s a fact that no one in the world dislikes getting goods for free. Today’s blog is entirely based on free resources. Yes, you read it right.
I’m going to tell you how to earn free cryptocurrency by following a few simple steps. There are a number of websites that provide free cryptocurrencies to their users. Let’s get started on learning how to get free cryptocurrency.
1. Sign up with an exchange
Many crypto exchanges provide a crypto gift as a registration incentive. All you have to do now is finish setting up your profile. The best aspect is that if you want to earn free crypto as a reward, this is the safest alternative method.
The following are some of the exchanges that provide free cryptocurrency:
Apart from that, these exchanges provide many companions to their customers, so remain connected with the community and they will provide you with extra reward options.
2. Crypto staking
Basically earning crypto’s works on two different principles – proof of work and proof of stake. The first one is used in mining cryptocurrencies, while the other uses a different approach. Here, the concept states that a person can stake or mine depending on the number of coins they already have in their wallet.
The more coins you have, the better the chances of you being chosen to validate the transaction. While proof of work requires users to mine the blocks and confirm the transactions through pure computational power, proof of stake works totally differently.
For staking you need to hold several crypto coins, so this method works great only if you want to increase your crypto.
3. Free NFTs
A non-fungible token (NFT) is a type of digital asset or artwork that has lately become extremely popular. NFTs aren’t technically cryptocurrency, but they can be swiftly exchanged for it. So, how can you receive free NFTs, to begin with? There are also prizes to be won for those.
You have a handful of options if you’re looking for NFTs. For starters, many new crypto projects give out NFTs as an “invite bonus” to their most ardent supporters. You can subscribe to a new cryptocurrency’s Discord channel in the hopes of winning an invite bonus pool for those who send the most traffic to the channel.
Another option is to keep an eye out on Twitter for NFTs freebies, which may be provided in exchange for retweeting and supporting the initiative. You might win an NFT if you retweet anything. Of course, NFT handouts can result in tax concerns, so keep that in mind.
4. Learn and earn
Learn to earn is one of the finest investments any crypto enthusiast can make right away. Yes, you can now earn cryptocurrency simply by learning about it. Some cryptocurrency-related websites allow you to learn about cryptocurrency while also earning a little amount from it. To obtain the bonus, you may need to view certain videos and pass a brief question.
Coinbase Earn is one site that pays users for learning about cryptocurrency, but others, such as CoinMarketCap.com, also provide free prizes. However, you may not always acquire the cryptocurrency you desire with these “learn and earn” promotions.
5. Defi yield farming
In recent months DeFi has grown increasingly popular. DeFi stands for decentralized finance. It is a blockchain-based type of finance that doesn’t depend on central financial intermediaries to provide traditional financial instruments. Instead, smart contracts on blockchains the most common of which is Ethereum, are used. With the rise of DeFi, yield farming becomes one of the ways of earning rewards with cryptocurrency holdings. The term “farming” indicates the high levels of interest generated by the liquidity of different DeFi protocols.
In simple words yield farming works in a similar way to bank loans. When a bank lends money to someone, they usually repay it with interest. Yield farming works, similarly, however, this time the banks are crypto investors. Basically, DeFi projects come with a reward system that resembles the bonds market in a way.
Some of the most prominent DeFis that you can mine right now are:
- Compound (COMP)
- Kyber Network (KNC)
- 0x (ZRX)
- Ren (REN)
6. Participate in an airdrop
Fundamentally, an airdrop is a marketing campaign in which a cryptocurrency token or coin is distributed, usually for free, to many wallet addresses. Most airdrops are used to generate attention and new users, thus increasing the number of coins distributed.
In exchange for performing a specific set of tasks, users receive some of the project’s tokens. Users can earn money through airdrops by simply searching online for when airdrop projects are taking place. They’re frequently advertised on the company websites and by users on social networking platforms and some cryptocurrency news sites. If a user meets the requirements, the developers will usually send the specified number of coins to their digital wallet address.
Some of the most common tasks asked by developers include:
- Following their social media channels.
- Sharing posts.
- Signing up on their platform.
- Completing a form about the project.
- Downloading their app.
Despite being one of the easiest ways to earn cryptocurrency for free, users need to be more careful about airdrops, especially when dealing with new cryptocurrency projects. Hackers often use fake airdrops and ICOs (initial coin offerings), hence it’s recommended that users always exercise caution. There are many websites that list airdrops, so if you’re looking to stock up on some emerging crypto coins, here’s where you should get started:
Microtasks are quite similar to airdrops. Usually known as bounties, the simplest way of earning a crypto coin. Usually, many startups and companies offer various crypto coins as a reward in exchange for performing various tasks. It’s like doing freelancing work. In a comparison of airdrops and microtasks. Microtask is a bit more difficult.
The tasks are related to promotional, below are some examples:
- Creating a video review
- Writing a whitepaper
- Writing a press release
- Marketing a promotional video
8. Browse the web
If you’re looking for a cryptocurrency that you can earn as you browse the web?
Brave browser could be a best fit for you. As long as you have the Brave Rewards program enabled, you will earn the Basic Attention Token cryptocurrency for using the browser. I personally used this for the last 6 months. Brave prevents traditional adverts and cookies while still allowing you to see certain ads in exchange for bitcoin.
According to the corporation, the program is available in most countries, and consumers receive 70% of ad money. Once a month, payouts are made. It’s something you’re already doing, so getting paid to browse makes it logical.
Closing Thoughts !!
If you want to earn free cryptocurrency, you have a variety of alternatives, ranging from the typical suspects, such as freebies from brokerages and exchanges, to the strange, such as airdrops and surveys.
However, be careful not to fall victim to any scams, since there are many scammers in this arena who would promise you a large sum of money and then scam you. Before you do anything, double-check all of the other person’s characteristics.
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