In today’s world, we have certainly all heard of the concept of cryptocurrencies. However, there are still a huge number of people who doubt the world of digitalization. Regardless of whether you are a well-informed cryptocurrency investor with a solid portfolio or someone who has only recently started discovering or is still exploring the crypto market, obtaining free cryptocurrencies is always a bonus. Fortunately, there are many ways to get free cryptocurrencies, and I have selected a few methods for you that have also brought additional crypto coins to my own portfolio.
First, we need to ask ourselves why anyone would give us crypto coins or ask us to complete small tasks in return. It is precisely because of this question that many people decide for themselves that this is most likely an online scam — however, that is not the case.
For the most part, this is about creating better brand awareness and marketing, as was done by one of the most well-known crypto exchanges in the world — Coinbase, which during the Super Bowl final gave $15 worth of Bitcoin to all viewers who scanned a QR code with their smartphones, downloaded the app, and registered. In a single day, they gained as many as 20 million new users. And since we are already on the topic of the Coinbase app, here is the first way to get your first free crypto coins.
1. Coinbase Earn
Coinbase is one of the most well-known cryptocurrency exchanges, which makes it easy to buy, sell, and trade cryptocurrencies. It is aimed at people who are already well acquainted with the world of cryptocurrencies, but it is also very easy to use and suitable for beginners.
Coinbase Earn is a special program that offers new users the opportunity to earn while learning about specific crypto coins. This works by watching a few videos about a particular crypto coin, after which a quiz awaits you. If you answer all the questions correctly, you are rewarded with those coins. To participate in the Coinbase Earn program, you need to register, send them a photo of your ID/passport or driver’s license, and proof of your residence, which must match the address you entered during registration.
Currently, two quizzes are available — for the cryptocurrencies AMP, where you earn $3 for correct answers, and Stellar Lumens (XLM), where you can earn $10. Coinbase also regularly adds new quizzes and opportunities to earn even more.
In addition to the quizzes, upon your first purchase of any cryptocurrency over $100, they also offer $10 worth of Bitcoin.
2. Freecash
Freecash is an app that works with various advertising and research companies that incentivize the completion of certain tasks. It can be used on your smartphone or computer. If you complete their location-specific offers and surveys, you earn Freecash tokens, which can later be exchanged for cryptocurrencies, gift cards for clothing stores, computer games, Netflix subscriptions, in the Google Play store, Apple Store, on PayPal, and many others.
Through Freecash, you earn by completing simple surveys, carrying out certain tasks such as downloading a specific mobile app or game and playing it until you reach a certain level. For each completed task, you receive Freecash tokens, where 1,000 coins are worth $1.
The great thing about the Freecash app is that you can do this anywhere and at any time, and that payouts start at just $0.10. If you want a payout in crypto coins, you can currently do so by selecting the amount you wish to withdraw, choosing your desired crypto coin (currently you can choose between Bitcoin, Ethereum, Dogecoin, and Litecoin), and pasting your Coinbase address. These transactions usually take between 5 and 10 minutes. Users of this app earn an average of $15 to $20 per day.
3. CoinMarketCap
CoinMarketCap is a website that offers cryptocurrency market capitalization rankings, charts, and much more. The capitalization of various cryptocurrencies is tracked by listing prices, available supply (the number of coins currently in circulation), trading volume over the past 24 hours, or market capitalization. However, buying or selling cryptocurrencies is not possible on this website.
A CoinMarketCap account is a prerequisite for interested users who wish to participate in Earn educational campaigns. A KYC-verified (“know your customer” or “know your client”) account on the Binance exchange is the second requirement for interested users. Your account must be verified before you complete the quiz, otherwise they cannot guarantee token distribution to you.
The Earn section on CoinMarketCap works in a very similar way to Coinbase Earn. We need to watch certain videos, then complete a quiz and receive crypto coins. The biggest difference between CoinMarketCap and Coinbase Earn is that the quizzes on this website are longer and that we have to wait a little longer for the crypto coins; we receive them after the campaign ends, which usually lasts approximately one month.
Please note that this program operates on a ‘first come, first served’ basis. Therefore, candidates will only receive tokens until a predetermined distribution amount has been given out.
4. Earn interest on your cryptocurrency
The most common questions about so-called ‘interest earning’ are: how does it work, how high is the interest rate, and are there any risks involved.
The premise of a crypto account that earns interest is the same as a regular savings account. You deposit your Bitcoin or altcoin and earn interest on your funds. The only difference is that the returns are significantly higher compared to traditional savings account rates. You can also receive weekly payments to your wallets and withdraw funds at any time. Currently, interest rates on savings accounts range between 0.05 and 0.7% APY (annual percentage yield). Crypto interest accounts offer on average up to 7.5% APY. However, some platforms can allow you to earn interest of up to 13% APY on your cryptocurrencies. Interest is a result of market effects and is paid out in the chosen cryptocurrency. You may need to pay a withdrawal fee, which is regularly adjusted based on blockchain conditions.
High reward does indeed come with great risk. However, in this case, the risk is directly proportional to the platform you choose to invest in. In general, there are two main dangers to be aware of: hacker breaches and borrower defaults. Hackers can easily access platforms that have weak security infrastructure, lack encryption, and store your tokens in their own wallet. Additionally, companies that do not hold a license with an operating permit may be prone to violations. As for borrower defaults, it largely depends on who the platform chooses to trust. If a company is transparent about its lending standards and maintains strict requirements for its counterparties, this reduces the level of risk, making it most important to thoroughly research which exchange you want to earn crypto interest on beforehand.
5. Brave Browser
The internet is full of all kinds of advertisements, hackers, and echo chambers. Big Tech (Google, Apple, Amazon, Facebook, Microsoft) generates huge profits at the expense of our data and tells us what is true and what is not. The Brave browser resists exactly this, as its mission is to protect your privacy online.
The Brave browser works in a very similar way to the browsers we use daily, such as Google Chrome, Mozilla Firefox, Safari… However, through the Brave browser we can also earn money.
They produce a collection of internet privacy tools that protect you from ads, trackers, and other things that try to follow you around the web. More than 50 million people worldwide have already switched to the Brave internet browser for faster and more private web browsing. Hundreds of new users sign up every day. Switching to the aforementioned browser takes just 60 seconds.
But how can we actually earn money through this browser? As soon as we download the Brave browser to our computer or smartphone, we receive up to $5 worth of BAT (basic attention token, a blockchain-based system for tracking the time and attention of media consumers on websites using the Brave web browser).
In order to earn the so-called BAT, we need to turn on Brave Ads before browsing the web; these are high-quality ads that we view, and the browser then rewards us. We can also set how many ads per hour (currently we can choose between one and ten) we want to view.
If you have your own YouTube channel, podcast, or are a blogger, you can sign up as a Brave creator. This option allows users to make donations in the form of BAT directly to any of your websites. Viewers can donate to you or set up a monthly donation to support your website or channel.
In general, it is not a large amount of money, but using the browser is completely free. On average, people earn between $4 and $10 per month.
6. Airdrop
Airdrop in cryptocurrency business represents a marketing trick that involves sending coins or tokens to your crypto wallet addresses in order to promote awareness of a new virtual currency. Small amounts of the new virtual currency are sent to the wallets of active blockchain community members for free or in exchange for a minor service, such as a “retweet” of a post published by the company that issued the currency.
We should know that an Airdrop is a promotional activity typically carried out by blockchain-based startups to help launch a virtual currency project. Their goal is to spread awareness of the cryptocurrency project and encourage more people to trade it once it becomes available on crypto exchanges.
Companies usually promote themselves on their website, as well as on cryptocurrency forums (various Facebook groups, Telegram, Twitter, Discord…), and coins or tokens are sent only to current crypto wallet holders. To qualify for the free giveaway, the recipient may need to hold a minimum amount of crypto coins in their wallet. Alternatively, they may need to complete a specific task, such as posting about the currency on a social media forum, connecting with a specific member of the project, or writing a blog post.
Given the fierce competition among various cryptocurrency startups, Airdrops try to stand out from the crowd. As everywhere else, there are good and bad companies in this space as well, so we need to be especially careful about various online scams.
7. Staking
If you have been investing in cryptocurrencies for a while, you have certainly heard of staking. Staking is a process that involves committing your crypto assets to support a blockchain network and confirm transactions. This is possible with cryptocurrencies that use the proof-of-stake model for processing payments. This is a more energy-efficient alternative to the original proof-of-work model. Proof of work requires mining devices that use computing power to solve mathematical equations.
Staking can be an excellent way to use your cryptocurrency to generate passive income, especially since some cryptocurrencies offer high interest rates for staking. Before you begin, it is important to fully understand how crypto staking works.
With cryptocurrencies that use the proof-of-stake model, staking is how new transactions are added to the blockchain. First, participants stake their coins. From these participants, the protocol selects validators to confirm blocks of transactions. The more coins you stake, the greater the likelihood of being selected as a validator. Each time a block is added to the blockchain, new coins are created and distributed as a staking reward to the validator of that block. In most cases, the rewards are the same type of cryptocurrency that participants are staking, however some blockchains use a different type of cryptocurrency for rewards.
If you want to stake cryptocurrency, you need to own a cryptocurrency that uses the proof-of-stake model. You can then choose the amount you wish to stake. This can be done through a number of popular crypto exchanges. However, the coins still belong to you when you stake them. You are essentially putting these staked coins to work and can unstake them later if you wish to trade or sell them. With some cryptocurrencies, however, you are required to stake coins for a minimum period of time.
The most well-known cryptocurrencies that can be staked are Ethereum, Cardano, Polygon, and Solana. Interest rates for staking cryptocurrency range from 5% and up to 20% annually.
Summary
Whether you are a strong believer in cryptocurrencies or just a casual investor, obtaining free cryptocurrencies is a good way to gradually build a portfolio without risking a lot of your own money. You certainly do not need to invest money in a pile of expensive mining hardware and software to enter the cryptocurrency market.
However, as more and more people have been discovering the crypto world lately, this has also brought many new opportunities for various online scams, so be especially careful to use secure crypto exchanges that you research beforehand and never share your personal information with anyone on the internet.
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If you are interested in this content, join us at a free webinar where presenter Matija will share a wealth of useful information about cryptocurrencies and how to earn with them. You can register at the following link: https://zannekrep.com/brezplacno20/.
