Top 7 Ways to Earn Free Crypto
Due to the popularity of cryptocurrency, many individuals are searching for ways to acquire free crypto. Here are seven methods you can use to earn cryptocurrency without having to invest your own money, including crypto faucets, airdrops, staking, bug bounties, and more.
There are several common risks to be aware of when earning free crypto, including security risks, scams and fraud, limited earning potential, time-consuming activities, and potential legal or tax implications. It is important to do your research and approach these methods with caution.
Faucets
Crypto faucets are websites or applications that give users small amounts of cryptocurrency in exchange for doing things like completing CAPTCHA tasks or viewing advertisements. One example is Moon Litecoin, which offers free Litecoin (LTC) to users who complete tasks, such as streaming videos. The rewards from Moon Litecoin are deposited into users’ microwallet at Coinpot.co.
Unfortunately, there are many scam crypto faucets that promise high rewards but never actually pay out. Some may require you to pay a fee or complete a certain number of tasks before you can withdraw your earnings, while others may simply disappear without warning. Therefore, it is important to approach crypto faucets with caution and do your research before using them.
Airdrops
Airdrops are free distributions of cryptocurrency tokens or coins. Companies and projects give away a certain number of tokens to people who sign up for their platform, perform certain actions or satisfy certain requirements.
Staking
Staking involves holding a certain number of cryptocurrency tokens in a wallet or exchange to secure the network and earn rewards. One can stake cryptocurrencies such as Cardano (ADA), Polkadot (DOT) and Ether (ETH) to earn stake rewards.
However, wagering involves locking one’s funds for a certain period of time, during which they may not be able to access or trade them. So make sure you understand the risks and potential rewards before you start betting.
Related: DeFi staking: A beginner’s guide to proof-of-stake (PoS) coins
Referral programs
For consumers who suggest friends and family join their platform, many cryptocurrency exchanges and wallets offer referral programs that provide rewards. Free cryptocurrency or a portion of the user’s trading commissions may be given as a reward.
Complete surveys
Some websites and apps offer users the opportunity to earn cryptocurrency rewards by completing surveys or participating in market research. Sites like Swagbucks offer crypto rewards for completing tasks, such as watching videos, answering surveys, and playing games. However, caution must be exercised when participating in any activity on such sites.
Related: 7 Ways Women Can Earn Passive Income Through Cryptocurrency
Bug bounties
Cryptocurrency projects and exchanges often offer bug bounties to incentivize developers and security researchers to identify and report vulnerabilities in their software. These rewards can be in the form of cryptocurrency rewards and can range from a few hundred dollars to tens of thousands of dollars, depending on the severity of the bug.
Trade competitions
Depending on their trading volume or performance, clients can compete against each other to win prizes on several exchanges that offer trading contests. While there can be fierce competition, there can also be significant benefits, with some exchanges offering thousands of dollars in cryptocurrency prizes.
