Everyone loves free stuff, and free cryptocurrency is no exceptions – but how can you get your hands on free cryptocurrency? Thankfully, there are hundreds of ways to do so – some of them require no time or investment, while others require both. In this article, we’ll walk you through a handful of different ways to obtain cryptocurrency for free, whatever that takes!
Best Ways to Get Free Cryptocurrency with No Investment
If you clicked on this article looking for the truly free cryptocurrency, this is the section for you. All of the methods outlined here will earn you cryptocurrency without any investment whatsoever, and most of them with very little effort. Be advised, though, you probably won’t walk away with too much cryptocurrency to boast about!
The first and most obvious way you can get free cryptocurrency is by participating in giveaways. There are no rules for how cryptocurrency giveaways work and what you need to contribute: you might just have to enter an email address, or you might have to download a new wallet, like a social media page, and share something creative. It’s up to you to read through the details of the giveaway and see what’s required before you decide whether the odds of the giveaway are worth it.
If you want to participate in a cryptocurrency giveaway, just keep an eye out in your favourite crypto and blockchain communities, since they’re surprisingly common.
One of the oldest ways to collect free cryptocurrency is using so-called faucets. Cryptocurrency faucets are websites or apps that distribute tiny amounts of cryptocurrency on a regular basis, in exchange for not much at all. Some faucets are powered by web advertisements and distribute coins immediately, while others make you fill out surveys first to pay for your “free” cryptocurrency.
For some examples of cryptocurrency faucets, just such “CoinName” faucet on your favorite search engine. However, don’t expect to find any incredibly profitable faucets, since they don’t really exist!
For another way to earn free cryptocurrency, look into airdrops. These are somewhat unique to the cryptocurrency space, but they’re very similar to giveaways. In an airdrop, a large number of users get rewarded with free cryptocurrency either at random or in exchange for some task. This is a popular marketing method for new coins, which offer airdrop rewards to those who spread the word about their product.
Cryptocurrency airdrops can take place with any token, but you should keep an eye on the smaller, faster-growing tokens if you want to increase your chances of joining one.
Another suggestion for earning free cryptocurrency with no investment is taking part in various cryptocurrency referral programs. These are especially popular with cryptocurrency exchanges, which offer you various rewards for referring other users to their service. Most of the time, these rewards are flat amounts of cryptocurrency, as on the leading cryptocurrency exchange Coinbase.
Other Ways to Get Free Cryptocurrency
Of course, there are plenty of other ways to earn free cryptocurrency, but most of them involve some time or investment. That’s not to say the cryptocurrency you earn isn’t free, though, so let’s dive right in!
Like with most asset classes, one way to earn cryptocurrencies “for free” is by investing money that you already have. Cryptocurrencies offer a surprising number of investment opportunities, mostly thanks to the way they work.
Here are some ideas for cryptocurrency investments:
- Hard forks: If you own a cryptocurrency which undergoes a “hard fork” (splitting into two coins), you effectively earn free cryptocurrency. However, the combined worth of the two new cryptocurrencies isn’t always more than it was before.
- Staking: Some cryptocurrencies use a consensus mechanism called Proof-of-Stake to keep their networks running smooth. With many of these cryptocurrencies, you can “stake” your coins, locking them up for a small, passive return on your investment.
- Leasing: Cryptocurrency exchanges sometimes allow their users to trade with borrowed funds (this is called margin trading). On these exchanges, you might be able to lease your coins out for a small fee.
- Bonuses: With some cryptocurrency ICOs (Initial Coin Offerings), you earn significant coin bonuses for investing beyond certain thresholds. This can vary greatly between ICOs, but it’s an easy way to get “free” cryptocurrency.
- Mining: If you have a powerful computer and you’re willing to pay the electricity bills, cryptocurrency mining is another way to earn cryptocurrencies. It can be quite hard to compete with professional mining operations, but you can still make a profit if you choose the right coins and set your rig up correctly.
If you have any voice on the internet, whether you’re a famous content creator or active Reddit user, you’ll be glad to know that the popularity of cryptocurrency donations is on the rise. There are a growing number of tools to facilitate receiving free crypto like this, depending on the platforms you use. Currently, the Basic Attention Token is a hot choice for donating to creators, since users of the Brave web browser receive it just for browsing the web.
In any case, anyone can donate cryptocurrencies directly to you if they have an address for your wallet(s). So, just sign up for one or more cryptocurrency wallets, share the addresses, and wait for the free cryptocurrency to roll in!
Working for Cryptocurrency
The last way you get “free” cryptocurrency – and probably the most boring – is by working for it. After all, cryptocurrencies are designed to be used as currencies. All it takes is for you to find a willing, crypto-friendly employer, and you’ll be able to trade your time and skills for the cryptocurrency.