Entering a decentralized trading platform is far from the only way of getting cryptocurrencies, and neither is producing and selling NFTs. Both still cost quite a sum of money, though. But what if you want to start collecting and investing crypto with a budget so little it's practically nothing? Worry not, as the internet is more than happy to share a few tips on how to get free crypto without getting scammed.
Sometimes, the developers of certain protocols want to give their users free tokens as a reward for using them. For example, Uniswap gave away—or airdropped—their newly released cryptocurrency as a token of gratitude to their loyal users. No less than 400 tokens worth around $10,000 at today's rate were distributed by Uniswap.
If you want to participate in an airdrop and try your luck on getting free crypto, there is a website that's quite literally a calendar that tells you when and which crypto is going to be airdropped. Remember that some airdrops may require you to use their service(s) while others don't.
Similar to airdrops, you can be rewarded a certain number of cryptocurrencies for doing small tasks like filling out surveys, clicking links, or sharing content. Bitcoin is the first kind of cryptocurrency ever distributed in this manner. Nowadays, other developers are also distributing their tokens through faucets. In a way, it helps get more onboard new users as well as helping any in need of tokens to complete certain actions.
An example of crypto distributed through a faucet is Matic. Supply token, otherwise known as Polygon. They distributed a small amount of their token so new users could easily perform transactions. Just click start, complete a captcha, and then a small amount of matic token will be deposited to your wallet.
You can also earn crypto through Coinbase Earn. Coinbase users can read articles or watch videos uploaded to the platform. There will be a quiz by the end of each article or video. Answering the questions correctly will reward you with free crypto.
Coinbase distributed free cryptos like this to three different parties. Coinbase will acquire new customers simply by telling them how to get free crypto on Coinbase. New users are getting free crypto without spending anything but a few minutes. Lastly, the specific crypto new users are learning about is getting free advertising.
Invest in a Network with Liquidity Program or Interest-Earning dApps
This method requires you to invest a small amount of money through decentralized finance (DeFi). This thing is called decentralized applications (dApps), available exclusively to blockchain users. However, the exact investment scheme may need another article of its own. With that said, once you are familiar with dApps or liquidity programs, start earning 7% ROI in Ethereum on AAVE, up to 30% in StableCoins on Curve, or even 100% ROI if you invested in SushiSwap.
Crypto.com or Binance Card
Both crypto.com and Binance have launched debit cards of their own. Like regular credit cards, you can use the card to spend your money in various establishments. Also, like a regular bank card, you will be rewarded by spending a certain amount or using it to pay in select establishments. However, unlike bank cards, both Crypto.com and Binance cards reward you with a certain amount of crypto, depending on where you use the card and how much you spend.
Some blockchains have their social media exclusive for their members. One of these social media is Hive Blockchain. Websites using Hive Blockchain are willing to pay you in crypto for publishing content there. For example, crypto YouTuber Whiteboard Crypto earned around $50 worth of crypto by publishing a few of their first articles in LeoFinance, according to one of his video.
Other examples are Steemit and Publish0x. Steemit is paying creators in crypto to publish their content there, while the latter pays bloggers in cryptocurrencies for their work.
Mining today is not like it was a couple of years ago. While it's true that you'll need a powerful computer to compete with the big shots, you only need a mid-range computer if you want to mine crypto in the pool network only. Most people already own a computer or laptop anyway, so mining is one of the safest ways to get crypto for 'free'.
However, keep in mind that mining crypto is not entirely free. Yes, if you already have a computer with mining software installed, you can start the mining process and keep your computer on for the duration of the mining session. Some people don't consider electricity costs when they start mining at home. Remember, keeping a computer on 24/7 for a month can and will spike your electricity bill.
The subreddit r/cryptocurrency is more than just a place for crypto bros to discuss anything crypto. Every time someone starts a thread or comments there, they gain an opportunity to earn Moons. Now, we do admit that the price of Moon is dirt cheap, but if you are a content creator or active user who regularly posts comments or forums, you can easily pile your Moons in no time.
How many of you know that mining is not the only way to 'produce' more crypto for you? If you already have a fair amount of crypto in your wallet, you can participate in validating transactions in networks that allow you to do so. One of the easiest ways to do this is by holding your coins in wallets like a Binance account and letting them stake the coins they lend from you.
Related Article: Best Staking Coins for A Successful Long-Term Investing
Some web browser developers grant you free crypto for using their products. It works because advertisers pay to put hourly ads in the browser using the Basic Attention Token. The advertising fees then go to the developer and the people using the browser. You can make up to $20/month from browsing the internet. How cool is that?
With how the media presents the crypto community, it's easy for newcomers to understand that they will need a hefty amount of cash to start investing in cryptocurrencies. While it's true that you'll need a sufficient amount of funds if you want to make cryptocurrency your main source of income, there are still tons of tips and tutorials on getting free crypto without spending anything.