How to earn free crypto? A comprehensive guide
Discover 5 methods to earn free crypto in 2024 with this comprehensive guide.
Who doesn't appreciate receiving free funds? Obtaining crypto without cost feels equally gratifying. If you were among the fortunate Solana users to receive BONK airdropped into your wallet, you're probably delighted. However, airdrops aren't the sole means of acquiring free crypto in 2024. That's why we've compiled a list of 5 methods, including free crypto earning apps, staking, and various other avenues, to help you accumulate digital assets.
How to earn free crypto?
Staking
Staking stands out as the most popular and relatively low-risk method for earning free crypto. It involves directly staking a proof of stake asset like Solana, Ethereum, or Cardano to its respective blockchain. Alternatively, you can opt for third-party services, such as cryptocurrency exchanges like Coinbase, Binance, Kraken, and others, to handle the staking process.
Returns from staking vary depending on the asset but typically hover around 5% APR (Annual Percentage Rate), calculated proportionally to your staked amount. These returns are based on a percentage of your assets, meaning you earn 5% of the number of units you hold rather than 5% of the dollar value of those units.
Airdrops
Airdrops involve the distribution of crypto assets to your wallet by a project developer. This could entail a broad distribution to all users of a network or serve as a reward for early adopters or active community members, such as those on Discord.
While airdrops can be profitable, they typically scale with the amount of the asset you possess or your level of engagement. Other types of airdrops occur through events like hard forks, as seen when Bitcoin split into Bitcoin (BTC) and Bitcoin Cash (BCH). During such forks, all BTC holders received an equivalent amount of BCH.
Learn to earn
Coinbase Exchange has popularized the concept of "Learn to Earn" for obtaining free crypto, but several other exchanges provide similar initiatives. This program typically involves watching educational videos about a specific asset, answering quiz questions, and receiving a reward in the form of crypto, often the asset you learned about. Although the rewards are usually modest, obtaining free crypto remains a valuable opportunity.
Play to earn
Engaging in play-to-earn crypto games is another widely embraced method for acquiring free digital assets. Examples like Axie Infinity (AXS) have demonstrated the potential profitability of such games. Typically, participants are required to make an initial investment in assets to participate in the game, but they subsequently earn free crypto as they play.
Brave Browser Rewards
One of the simplest methods to obtain free crypto is via Brave Browser Rewards. Brave Browser functions similarly to Google Chrome but integrates additional privacy features.
Instead of constantly encountering ads, Brave Browser users receive notifications for ads. If you opt to interact with these ads by clicking on them, you earn a small quantity of Brave Attention Token (BAT), which is then transferred to your Uphold Exchange wallet on a monthly basis. Users have the flexibility to adjust the frequency of ads they encounter per hour and can opt not to engage with the notifications if they prefer.
Exchange registrations
Most cryptocurrency exchanges offer free cryptocurrency upon registration and your initial deposit. The amount you receive varies depending on the exchange, so it's advisable to explore different platforms to find the most appealing deposit bonuses, especially for new crypto users.
Task completion on exchanges
Similar to the signup bonuses, many cryptocurrency exchanges reward users with free crypto for completing specific tasks. These tasks might include making a trade of a certain value, or simply executing your first trade, and in return, you might receive assets like USDT.
Platforms such as Crypto.com feature reward programs like Diamonds, where users earn diamonds for completing daily tasks, engaging in trades, and more. These diamonds can then be exchanged for items like NFTs or free crypto in randomized amounts.
Crypto faucets
While not as prevalent as before, crypto faucets remain a viable method for earning free crypto. However, it typically involves completing tasks such as surveys, playing designated games, or watching advertisements in exchange for receiving the free cryptocurrency.
Despite BlockFi facing bankruptcy, Crypto Savings Accounts remain accessible through select exchanges and platforms. Users simply need to deposit a particular asset to accrue more of it gradually over time. For instance, Crypto.com offers this service as Crypto Earn, while other platforms may term it as Earn or even staking. Additionally, depositing assets into decentralized lending platforms like AAVE enables users to earn an Annual Percentage Rate (APR) on their holdings. The earning potential varies based on the asset and the duration it remains deposited.