11 ways to get cryptocurrency for free
Free money? No way! We were all taught that money doesn’t grow on trees, but there are ways to receive cryptocurrency for ‘free.’ In most cases, you’ll be providing a service to the company issuing the free cryptocurrency, but more on that in a bit.
There are actually many ways you can earn free crypto, but some require more effort than others. In some cases, you really won’t need to do much at all.
Ways to earn free crypto whether or not you already have some
Sign up for an ICO
Often just signing up for an ICO entitles you to some free tokens, as companies try to vie for users in an increasingly crowded ICO market. Of course, there’s no guarantee they will ever be worth anything, but it’s one way to collect some free crypto.
Use dApps with rewards
Decentralized apps are applications built using blockchain technology. It could be something as simple as a browser or a social network that pays you for using it. Often there will be ad content that you are exposed to, but we deal with that every day anyway, and you might as well get paid for it.
If you have some coding skills, you can get free crypto for helping companies fix bugs and solve programming challenges. Companies are often looking to crowdsource help with their development projects, so look for available bounties. If you’re not a hotshot coder, never fear – you can also earn bounties for helping promote a coin, by posting about them on social media or promoting them in your signature on crypto forums.
On the other hand, you can just watch ads and play sample games for hours and earn free crypto as well. This one can be pretty time intensive but it’s brainless and you can often do it while you’re doing something else. Marketers are looking for views, and you can get paid for giving them some.
Earn Bitcoin while you shop
There are several shopping apps and websites that will pay you crypto in the form of rebates. Lolli.com, for example, has a browser plugin that you can use to automatically receive crypto for shopping online. The plugin notifies you when you’re on a partner website and the rebates go directly into your cryptocurrency wallet.
Ways to earn free crypto if you already have holdings
Making sure you have the right hardware and connecting your computer to a certain network is all that is needed to start mining cryptocurrency. Essentially you are getting paid for your part in helping verify each new block on the blockchain, thereby increasing the consensus by one. To mine Bitcoin these days takes quite a bit of energy and computing power, but there are others to mine as well.
Many ICO’s or will pay you free cryptocurrency if you get others to sign up. You might already have bought some, and one day get an email notifying you about a referral bonus. The more people you invite that actually sign up, the more free crypto you’ll receive.
This is a way that companies often reward loyal users or early adopters. They might also use it to encourage people to add to their holdings. Date and time are set, and conditions are announced. One example is that anyone holding a certain amount on that date/time will receive a share of the airdrop. Make sure you meet all the requirements set forth so you don’t miss the chance for free
Hold proof of stake coins
Certain cryptocurrency networks work on a proof of stake protocol, and having a significant holding of these coins can earn you free crypto. Essentially you’re letting the network use your coins to ‘prove’ that the system is up and running and that consensus is reached.
Form a master node
Running a master node means that you are committing your computer to storing a complete copy of the blockchain of a certain cryptocurrency at all times. This can require some serious computing horsepower, a fast connection and a significant holding. But if you have the means, it can be an effective way to earn free coins in return.
Lease or borrow coins for margin trading
Have a few coins here and there in cold storage means they aren’t doing much for you. But you can make them hot again and lease them to others for margin trading. Essentially using them as collateral to borrow new coins to trade on means your idle coins could be doing work for you.
Word of caution
As with anything related to cryptocurrency investing, it pays to do your research. The ICO might be giving away free tokens, but are they ever going to be worth something? Also, many of these offers require you to hold the crypto in a certain wallet or may not release them to you until you hit a certain target.
The last thing you want is to put in a bunch of time and effort only to come up empty-handed, so make sure you know what you’re getting into.
Enjoy your free cryptocurrency!
Now you know some ways to pick up some free cryptocurrency, or at least without actually buying it. Some require your time, some require your computer’s power, but others just require you to be at the right place at the right time or just to do the same online shopping you would do anyway. Why not get started and start benefiting today?