There are various ways to earn free cryptocurrencies.
So choosing the right one will require some due diligence.
Also while free cryptos can be lucrative, they can be more susceptible to scams and hacks too.
Be aware that not every site offers genuine free Crypto.
Crypto is short for cryptocurrency, which are digital currencies usually built upon a blockchain network, that can be transferred peer-to-peer. Regarding free crypto, there are legitimate ways to earn rewards in it, like gaming rewards. But even with that you should always protect yourself and be on the lookout for potential scams.
Do you like to play games, specifically e-games and would you like to get rewarded with crypto for doing it?
Well if so you’re in luck because lately, crypto games have been growing in number and popularity.
These crypto-game developers are integrating blockchain technology to design and develop what some people think will be the future of video games.
Using the blockchain these developers have given players a greater ability to control and securely store the items they acquire while gaming.
Also, there are a lot of these games that incorporate play-to-earn elements into them.
This means that the people playing a lot of those games have the opportunity to be rewarded with in-game crypto tokens.
These native tokens can be used to acquire game items such as avatars & weapons and various other game-centric items in the form of NFTs (Non-fungible tokens).
Another thing, most crypto games allow people to take their items out of the game, and because it’s on the blockchain they can easily be interchanged for other items or traded for cryptocurrency or regular money (fiat currency).
As mentioned, there are various ways to get free crypto.
So, here are a few more for you to chew on.
There are a lot of crypto exchanges that offer a signing bonus, meaning you create a new account and they give you some crypto.
Although, as far as I can tell there is one catch, everyone that I’ve checked out so far, including Binance, Nexo, and Gemini requires you to deposit a set amount of assets or at least make trades within a certain time frame and of a specific value.
So, if you plan on going this route; you should definitely check out all the exchanges that offer this and not just decide where to get an account based on the free crypto, but on which one will be best for you overall.
Next, we have newsletters which you can earn crypto from for completing certain tasks and tutorials.
After that, you can also get some cryptocurrency thru engagement and content creation on crypto social media platforms.
Now, I’ve just touched on a few here, but there are other platforms that offer crypto to new users thru promotions.
Get a load of this, you can now even earn crypto from browsing the net.
It seems it was all started by brave as a reward for using their web browser.
Now, other web browsers, such as Mozilla, Firefox, and even Google Chrome are getting into the game via a browser extension from Adtech startup Slice, which allows users to receive crypto for viewing ads.
If you’re someone who learns better when there is an incentive involved, then this next one is for you.
What is frequently called Learn & Earn are platforms that pay people small amounts of crypto to learn about crypto.
The general idea is to make it so more and more people understand the crypto world in an attempt to attain new investors & users as well as encourage mass adoption hopefully.
Binance and Coinbase are a couple of players that are stepping up to the plate when it comes to free crypto, at least where learn & earn are concerned.
The mining process involves solving complex math problems to validate ongoing transactions and mint new coins using a blockchain, which in simple terms is a virtual ledger that isn’t controlled by a single entity.
So people can earn free digital money while lounging on the sofa watching Netflix…lol
Now, that may be true for the bigwigs in the mining business.
But for an individual miner, it’s probably a different story.
Because of what it cost to start bitcoin mining, the amount of energy and computing power needed, as well as the heat produced, can be staggering.
Some miners use the heat generated by their machines to heat their homes or the facilities that house their equipment.
There are even some miners that use the heat to grow insects, which they harvest for sale as a means to offset some of the expenses.
Also, crypto mining can still be profitable, but you might have to wait for the next crypto bull run for that to happen, especially for individual miners.
Since lately crypto prices are down and the cost of energy is up.
Truth be told, some say it’s possible for an individual to make a profit, but if you’re not a big mining operation, there’s a good chance that you won’t recoup all the money that you need to put into it.
Although there is still hope for individual miners in the long run, since the price of cryptos is likely to go back up in the future and there may also be advancements in mining machines commonly known as ASIC, that could help people achieve profitability.
Along with finding alternative and/or cheaper forms of energy that can be used for crypto mining too.
One other thing, joining a mining pool can be an option for individuals who hope to be profitable.
Although, nothing is a sure thing and there is always a chance that you could lose money.
So everyone should always weigh all the pros and cons of anything they’re going to get involved with, whether that be to mine bitcoin solo or to do it with a pool of other miners.
One last thing for potential future miners to think about.
Before deciding to take the plunge and purchase that mining equipment and start a so-called mini-greenhouse, everyone should make sure they're ready to put in all the time and effort required to even have a chance to be profitable.
Whoops I almost forgot, and this is really the last thing, while mining cryptocurrency isn't illegal, it’s not legal everywhere.
So be sure to check for the legality of it in the place you plan on having your operation, that is if you plan on getting involved with it at all.
Validations that give you crypto as a reward or what is commonly called staking, is basically where you put up your crypto to be used in the process of validating other crypto transactions.
There are only certain cryptocurrencies that this can be done with, like Ethereum, Cardano, & Solana for starters.
The cryptos that offer it, do it because they use proof of stake to secure and validate their transactions.
This is why it can’t be done with cryptocurrencies like bitcoin because it uses the consensus mechanism proof of work, which involves thousands of miners using nodes (specialized computers) to solve complex math puzzles thru cryptographic methods, who then in turn receive some bitcoin as a reward.
However, even though you can earn cryptocurrency from staking, there is also some risk that comes with it.
These risks include your crypto being locked up or what is known as vesting, where it can’t be sold or transferred for a specified period and another one is known as slashing, which is where if an invalid transaction is entered into a block some of your cryptos are burned.
The main premise with airdrops is to send new crypto tokens to different individuals' wallet addresses in hopes that they will get involved and promote this emerging cryptocurrency.
It’s kind of like what's behind the marketing intention when charity organizers give high-profile individuals free invitations to big events & high-end dinners in order to encourage their support for said charity.
Airdrops are also similar to free samples given out by new businesses.
When a restaurant or smoothie shop opens up, they often give out a free sample of their food or drink to potential patrons.
These freebies are meant to attract repeat business.
Likewise, a crypto project will airdrop a free coin or coins to its users in hopes that they will spread the word about the new project.
People will usually flock to it like seagulls to bread if they know that they can get free Crypto from the platforms that they are interested in.
So in essence, airdrops are like digital marketing for regular startup businesses trying to drum up support.
There are generally three types of airdrops; 1. Exclusive: which is only sent to certain users, 2. Holder: which gives free tokens to wallets that have a specific amount of currency in it, and 3. Bounty: which requires you to undertake tasks or promote the crypto project.
Now the most common blockchain projects are Ethereum-based, but whatever it might be, if you are to receive tokens via an airdrop; you’ll need to be sure to have a wallet that supports this new coin.
Lastly, be aware that many of these schemes are scams, and you may get nothing but worthless coins.
So it's essential to be vigilant and research any new crypto token & each project thoroughly before investing.
Crypto faucets are websites or applications that provide a tiny bit of crypto as a reward for completing certain easy tasks, such as taking polls or surveys and watching videos; a lot of them also have referral programs as well.
So the reason it got the name faucet was that the payouts are really small, reminiscent of the drip of a kitchen faucet.
But actually, to begin with they were never meant to make people rich anyway.
The initial intention was to get people interested in bitcoin, so they would learn more about them and hopefully start to use them too.
Although, originally the amount that was given out by Gavin Andresen, the person credited with the concept, was up to 5 bitcoin a day.
Which, wow, if that was still going on at the price it is right now, those 5 bitcoin would be worth
Ooh, one hundred and nineteen thousand dollars just to take a survey and/or watch a video, I would be jumping all over that…Haha!
However, nowadays the majority of faucets hand out rewards gauged in satoshis, which is the bare minimum amount of bitcoin that there is, and represented by a decimal like this .00000001.
Each crypto faucet website or app has its own set of rules governing how they distribute their payouts too.
Some, make it so that you have to reach a set amount of crypto before they’ll let you withdraw the coins, like five dollars worth for example.
In all, it doesn’t seem like a bad way to get free crypto, but like with everything else, you still need to make sure that whatever faucet platform you’re using is legit.
Also, like earlier with the crypto games, here is a crypto faucet example: Fire Faucet.
If you enjoy reading and/or writing, you can now earn some crypto for doing either or both.
This is something that I just discovered while writing this post, and it’s pretty interesting, to say the least.
One such publication is Publish0x, which is an online platform that allows authors and readers to earn free Crypto.
In return for reading or publishing articles, you can earn a crypto reward.
After reading a post, readers divide what the site calls tips between the author and themselves, using any ratio that they see fit, and in doing that they both earn crypto.
The platform is free to sign up for and so are the tips, for both the readers & and authors.
You can also refer people to Publish0x with its Ambassador Program and receive 5% of the tips that your referrals make from tipping articles too.
There are other platforms similar to this as well, like Steemit, which has been around even longer than Publish0x.
It seems like there are scams everywhere nowadays, especially when it comes to free stuff and the crypto market is no different.
So if you’re on the lookout for free crypto be sure to stay on your toes.
Because con artists and scammers are always on the lookout for someone that they can take advantage of.
So just like you should never give out your social security number, likewise never give out your login info or your private key while trying to receive free crypto. No matter what any free giveaway might declare, your public key is all anyone ever needs to send you cryptocurrency.
Many people are earning Crypto for free through such things as games, promotions, newsletters, and even reading & writing. So there are ways to earn free cryptocurrencies out there. But just remember, whether you are looking to earn free cryptocurrency in order to trade or sell, or you just want to start accumulating them, be cautious of scams and unreliable sources. While several methods may offer you free coins, remember when it comes to some of them, there is no guarantee of their present worth or that their value will appreciate in the future either.