How To Earn Cryptocurrency For Free?

While cryptocurrencies are costly, there are multiple ways in which you can earn them for free

Even when most cryptocurrencies are not backed by any real assets, their value has risen consistently. For example, Bitcoin was valued at around $450 in 2016. It is now trading at close to $95,000. With such high valuation, many people think that cryptocurrencies are out of their reach. However, not many know that there are various other ways to earn cryptocurrency. If you are looking at similar opportunities, let us take a look at how to earn cryptocurrency for free.

New user bonus – Crypto exchanges are always on the lookout to attract new users. As an incentive, many crypto exchanges offer some crypto for free at the time of signup. Some examples include eToro, Coinbase, Crypto.com and Gemini.

Free NFTs – In the world of cryptocurrency, NFT is treated as a digital asset. It is not cryptocurrency, but a non-fungible token that can actually be used to buy cryptocurrency. Many crypto projects start with NFTs, which are used as incentives for the top contributors. For example, if you generate traffic for a particular crypto project, you could be awarded with NFTs. You can seek such opportunities on the crypto’s Discord channel or search popular social media platforms such as X (Twitter).

Participate in a quiz – There are some websites that allow you to earn some cryptocurrency based on your knowledge about cryptocurrency. For example, you may be asked to participate in a quiz. If you perform well, you may be awarded with some cryptocurrency. Some options you can consider include Coinbase Earn and CoinMarketCap.com. While visiting such websites, you may also access some other forms of rewards.

Crypto savings account – Just like a bank’s savings account where you earn interest on your deposits, a crypto savings account works in a similar manner. So, your initial investment in crypto will continue to increase in value. If you are looking for a crypto savings account, you can consider platforms such as Crypto.com. It is to note that interest amount may vary based on the type of cryptocurrency selected.

Become a crypto lender –  You can monetize your crypto assets by lending them to borrowers. In the process, you can earn interest in such transactions. Crypto lending can earn you money via peer-to-peer lending platforms. This is made possible via decentralized apps and the entire process is known as decentralized finance, or DeFi. However, this process has risks. So, make sure the person you are lending to has the ability to pay you back.

Take surveys – You have to scan the web to search for opportunities where you can earn crypto by taking part in surveys. The usual reward is cash, but some websites also offer cryptocurrency. One relevant example is Freecash where you can be rewarded with Bitcoin, cash or gift cards.