Due to the popularity of cryptocurrency, many people are looking for ways to acquire free crypto. Here are seven methods to earn cryptocurrency without having to invest any of your own money, including crypto faucets, airdrops, staking, bug bounties, and more.
There are several general risks to be aware of when earning free cryptos, including security risks, scams and fraud, limited earning potential, time-consuming activities, and potential legal or tax implications. It is important that you do your research and approach these methods with caution.
taps
Crypto faucets are websites or applications that provide users with small sums of cryptocurrency to do things like fill out CAPTCHA puzzles or watch advertisements. One example is Moon Litecoin, which offers free Litecoin (LTC) to users who do tasks like streaming videos. Moon Litecoin rewards are deposited into users’ micro wallets on Coinpot.co.
Unfortunately, there are many rogue crypto faucets that promise big rewards but never really pay off. Some may require you to pay a fee or complete a certain number of tasks before you can withdraw your earnings, while others simply disappear without warning. Therefore, it is important to approach crypto faucets with caution and do your research before using them.
air drop
Airdrops are free distributions of cryptocurrency tokens or coins. Companies and projects give away a set number of tokens to people who register for their platform, take certain actions, or meet certain requirements.
Mark out
Staking involves storing a certain number of cryptocurrency tokens in a wallet or exchange to secure the network and earn rewards. One can stake cryptocurrencies like Cardano (ADA), Polkadot (DOT), and Ether (ETH) to earn staking rewards.
However, staking locks one’s funds for a period of time during which they may not be able to access or trade them. Therefore, make sure you understand the risks and potential rewards before you start staking.
Related: DeFi Staking: A Beginner’s Guide to Proof-of-Stake (PoS) Coins
referral programs
For consumers who suggest friends and family members to join their platform, many cryptocurrency exchanges and wallets offer referral programs that pay rewards. A free cryptocurrency or part of the user’s trading commissions can be given as a reward.
complete surveys
Some websites and apps offer users the opportunity to earn cryptocurrency rewards by taking surveys or participating in market research. Sites like Swagbucks offer crypto rewards for completing tasks like watching videos, answering surveys, and playing games. However, caution should be exercised when engaging in activities on such websites.
Related: 7 Ways Women Can Earn Passive Income Through Cryptocurrency
error bonuses
Cryptocurrency projects and exchanges often offer bug bounties to encourage 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.
trading competitions
Depending on their trading volume or performance, clients can compete against each other to win prizes on multiple exchanges that offer trading competitions. While there can be stiff competition, there can also be significant benefits as some exchanges provide thousands of dollars in cryptocurrency prices.
