While mainstream investors choose to invest in cryptocurrencies directly on a large scale, there are other ways to earn crypto. Blockchain technology, Web 3.0, and decentralized finance have enabled various ways to earn free crypto. It might sound too good to be true, but the truth is if you make wise choices, there are several ways to earn free crypto as well.
Today, we will be taking a look at some of the best ways to earn free crypto.
- Signing up with an Exchange
One of the easiest ways to earn free crypto is by signing up with a crypto exchange that offers crypto gifts as a registration incentive. Generally, some crypto exchanges offer users free crypto upon completing the registration procedure. Some of the exchanges that provide free cryptocurrencies on registration are Coinbase, BlockFi, Gemini and Celsius.
Moreover, some crypto exchanges also offer a referral bonus where you can earn free crypto when a user signs up using your referral code.
- Crypto Staking
If you already have some crypto coins in your wallet and want to increase their value without investing directly, crypto staking can be an excellent option. Crypto staking is the process of locking your crypto tokens in a liquidity pool to earn interest over them. There are several staking protocols in the market with varying APYs.
When you stake your tokens, they get locked in the pool for a predetermined time and at the end of the staking period, you receive the tokens back along with interest. It is one of the safest ways to earn free crypto.
- DeFi Yield Farming
DeFi yield farming helps crypto investors profit from their investment by earning interest from trading fees required to deposit crypto into a lending protocol. Moreover, when you add your funds to a liquidity protocol, the pool will generate a token that will reflect your portion in the pool. This token can be transferred to other protocols and staked or added to another liquidity pool for more rewards.
Some of the most popular yield farming protocols include Compound, Kyber Network, Ren, etc.
Play-to-Earn has become a popular method to earn free crypto in the past few months. In the P2E economy, a user is rewarded with rewards such as crypto tokens when playing a game and winning or completing milestones. The Play-to-Earn economy is a crucial part of the GameFi industry and has helped several players earn their living.
There are several play-to-earn projects in the market, such as Axie Infinity, Decentraland, The Sandbox, and more.
Research-to-Earn is a new concept where the users are rewarded for researching the crypto industry simultaneously. You can engage in micro games, test your knowledge about a project in the crypto space and earn rewards for winning.
NestFi offers a Research-to-Earn model where you can earn and learn about crypto simultaneously. You can earn free crypto and invest it to build your portfolio while polishing your knowledge about the industry.
Move-to-Earn is a new model where you can earn free crypto and rewards by performing simple tasks and physical activities. The easiest way to understand this model is through the popular game Pokemon Go, where the users have to explore the outside to catch new pokemon and fight battles. Move-to-Earn is based on a similar model with the added advantage of earning free crypto.
There are several projects, such as STEPN, MetaGym, Step, etc., that reward you for completing certain tasks successfully.
- Free NFTs
NFTs are a great way to build your crypto portfolio as these tokens are extremely valuable and can be traded or sold for hefty prices. Moreover, there are several ways to earn free NFTs. For instance, a project might offer a free NFT as an inviting bonus to its supporters. Apart from that, there are several exciting competitions where you can win NFTs as a reward.
Airdrops are an excellent way to earn free crypto. It is a marketing campaign where free crypto tokens are distributed to several wallet addresses at once to generate hype about the project or its campaign. To participate in the airdrop, you have to complete some tasks and engage with the project. Few top users with the highest score are rewarded with free tokens in their crypto wallets.
You can check upcoming drops on websites such as 99Airdrops, and Airdrop Alert.
Mircrotasks are like airdrops but require you to perform specific tasks for the project. For example, a bounty program is a type of microtask that requires you to check the project for any bugs or vulnerabilities that might cause a security risk for the project. The more severe the big, the bigger the rewards.
There can be a variety of other tasks as well, such as creating a video review, creating content for the project, engaging with their social media campaigns and so on. These microtasks also act as the basis for a new Engage-to-Earn economy where users earn rewards for engaging with the project.
- Browsing the Web
Brave Browser offers a unique way to earn free crypto by browsing the web. When you browse the web, you will see certain ads that will help you to receive a percentage of the ad money. You can earn free crypto by simply browsing the web as you do.
These are some of the easiest and most effective ways to earn free crypto. There is more than one way to build your crypto portfolio, so get cracking and become a part of the cryptoverse!