16 ways to earn cryptocurrencies for free


16 ways to earn cryptocurrencies for free

16 ways to earn cryptocurrencies for free

How to earn free cryptocurrencies? Well, it's simple. First, free money is nothing new to savvy consumers. Credit cards offer sign-up bonuses, bank accounts earn interest, and there are even tools to earn cashback when shopping online. And now you can get many of those same perks issued in cryptocurrencies instead of credit card points or US dollars.

If you have already added cryptocurrency to your investment portfolio, these options offer an additional coin on top of your initial investment. But you need to know exactly how it works before you dive in. You should also be prepared for the additional responsibilities that free crypto may require.

While some forms of free crypto, like crypto credit card rewards, are only taxed on the capital gains you earn when you withdraw, others may be considered taxable income when you receive it.

In this article, I'll show you some techniques you can use to earn cryptocurrency legally. But before you start, here is a protocol that allows you to build your first business onthe internet.

let's go

1. Purchase Rewards

Lolli, a Google Chrome or Firefox browser extension, offers “Bitcoin Back” when you make purchases from its business partners. It works similarly to browser extensions such as Rakuten or Honey that offer discounts and cashback when you use the portal or extension to shop online.

Like those programs, Lolli rewards you for your regular spending as you normally would when shopping online, not for shopping with crypto.

Rewards range from 1% to 30% Bitcoin back, depending on the retailer and product. Your rewards will go to your Lolli account, then you can transfer them to your crypto wallet or exchange account.

2. Credit cards

A cryptocurrency credit card works the same way as other reward credit cards. But instead of earning money or points with each hit, you'll get cryptocurrency. While we love simple cash rewards (and you can still buy crypto with your cash winnings), these cards can help round out your crypto portfolio more seamlessly.

Gemini and other exchanges have announced plans for cryptocurrency rewards credit cards. The reward categories on these cards are similar to many traditional cash-back credit cards.

The BlockFi credit card, for example, earns 1.5% in Bitcoin on every purchase you make, after earning 3.5% for the first 90 days after opening the account.

In addition to varying reward rates, each of these cards offers different cash values. The Gemini Card will let you choose which crypto to redeem rewards in, while BlockFi earns Bitcoin rewards, and others limit your rewards to certain altcoins only.

As with any credit card, the rewards you earn with these cards are only valuable if you avoid their high-interest rates. If you use a card to earn crypto rewards, be sure to only charge what you can afford to repay in full and on time each month, without having to pay a balance.

Also read:  What does bullish or bearish mean in the crypto market?

3. Look for Exchange signup and referral bonuses

Some cryptocurrency exchanges offer sign-up or referral bonuses for using their services. A previous Coinbase sign-up bonus offered $5 to new users to invest in crypto, for example, and the exchange currently offers a $10 bonus to you and your referral when they create an account and trade at least $100.

Be sure to pay attention to the terms of these bonuses. You may be required to provide more personal information or take other actions to claim these rewards.

Most of these offers aren't lucrative enough to warrant signing up for a whole new exchange if you already have an account, but if you're a beginner, keep an eye out for the exchanges you're considering to see if they offer a sign-up bonus or referral for other friends who might be interested.

4. Earn on Coinbase

Popular cryptocurrency exchange Coinbase offers incentives for using the platform's learning hub. To get the free change, you will need to watch Coinbase videos, take quizzes, and then Coinbase will deposit a small amount of crypto into your wallet.

The content is usually focused on a specific altcoin (like GRT and BOND) and therefore these are the coins

you will earn by completing the lessons.

Since altcoins are generally not recommended for long-term investing, you can convert these lesser-known coins to Bitcoin or Ethereum once you've earned them.

But remember to keep track of these transactions, as every crypto-to-crypto transaction is taxable. Additionally, you need to track the price value of all your earnings through Coinbase Earn. If you earn more than $600 from the program, Coinbase will send you a form, which you can use to report your earnings.

You will need to have funded a Coinbase account, and live in an eligible country. You also need to verify all your personal information to start earning with Coinbase Earn.

5. Earn interest on your Bitcoin

A few crypto exchanges allow you to earn interest in your cryptocurrency holdings. Gemini Earn, for example, is a lending program where you lend your crypto to institutional borrowers and can earn up to 7.4% APY. BlockFi offers a similar offering, the BlockFi Interest Account, which accrues interest up to 7.5%.

Also Read: Make Money Using Sweatcoin App 

Lending your crypto to these institutions can add even more risk to the built-in cryptocurrency risk. So be sure to read the terms carefully before signing up and don't lend more than you can afford to lose.

You can also earn interest by staking on certain crypto exchanges, like BinanceStaking means leaving cryptocurrency in your wallet to earn rewards or interest.

By doing so, you help maintain the blockchain network. You can usually only stake certain coins within an exchange, which may require buying riskier altcoins to reap the benefits.

The interest you earn on your crypto, as well as income from staking, are both taxable and it is your responsibility to report them as income. If you choose to participate, you will need to track the cost base of your income throughout the year to include on your tax return.

6. Become an Affiliate Marketer and Earn Free Cryptocurrencies

Affiliate marketing offers another method for the average person and business to earn free cryptocurrency online. If you have an online following, you can generate additional income by asking your friends and followers to do business with companies that are willing to reward you for guiding new customers in their direction.

Your subscribers click on a unique URL that the merchant will give you when you join their affiliate or referral program.

This URL will track all purchases made through your network and credit your rewards account. The commission per sale differs from merchant to merchant, but if you have a large readership, an affiliate program can provide you with a significant stream of income.

A popular Bitcoin affiliate program is that offered by Coinbase, arguably the largest exchange for buying and selling Bitcoin in North America.

Also read: 
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7. Earn cryptocurrencies by surfing with the crypto tab browser

Several websites help you get free Bitcoins instantly by performing certain activities. For example, you will instantly get free Bitcoins by surfing the internet using the CryptoTab browser.

8. Learn more about cryptocurrencies

You can also earn crypto by learning about bitcoin on websites like Coinbase. This site offers various crypto courses and videos. All you have to do is answer the quiz questions or complete some specific tasks.

Based on this, you will be rewarded with a small portion of a specific crypto coin. However, you must first register on the Coinbase website.

9. Go through “Bitcoin Faucets” to earn cryptocurrencies

This method is a specific feature on websites that constantly provide Bitcoins to certain users. For example, some websites send a fraction of free Bitcoin every second as a promotion reward.

However, this is an extremely small amount that is awarded to a user after a few minutes. The idea is that the faucet retains website visitors for a long time and the website owner can get better ad revenue, more engagement, and other benefits.

10. Play Mobile or Online Games to Earn Bitcoins

There are so many online games that reward small amounts of Bitcoin as prizes. It works the same as bitcoin faucets. Bitcoin rewards encourage users to play games and see advertisements.

Therefore, the game has become a great source for advertisers to reach people by offering Bitcoin prizes. However, the reward amount tends to be very low.

11. Earn cryptocurrencies with the Binance referral program

Affiliate programs are widely available in the cryptocurrency industry. For example, you can refer a friend to a service. Then you both get discounts, collect reward points or get a bonus BTC and fiat currency.

For example, you can earn free Bitcoin by applying to the Binance Bitcoin referral program. You can refer your friends and earn 20% when they make a transaction. Your friend also gets a 20% discount.

On the Binance website, all payments are made in BTC and other altcoins. You can withdraw this amount to your account using Binance P2P. Click here to start earning
your first cryptocurrencies.

12. Bitcoin Mining

It is a fast, cheap, and reliable method of mining Bitcoin. You just need a normal PC and a bitcoin miner. To start mining Bitcoin, you may need to join a mining pool with a group of miners.

This type of mining produces a lower amount of Bitcoins compared to the cost of energy needed to run them, so you can't expect much from this method.

13. Donations

You can earn Bitcoin instantly through donations. However, it is not easy, because you have to work hard for it. First, you need a website and you can request Bitcoin donations on your website using a wallet address and a QR code.

14. Earn cryptocurrencies from the salary

Getting a salary in the form of bitcoin is another method to get free bitcoin fast. For example, let's say you work as a freelancer for a reputable cryptocurrency provider.

In this case, you will probably be paid in Bitcoin cryptocurrency. Moreover, if you wish, you can also ask your employer to pay your salary in the form of Bitcoin.

15. Writing and Research Information Products

Some cryptocurrency blogs, news outlets, and forums will pay you in cryptocurrency to contribute your ideas and write for them. However, you must have a good knowledge of the industry. You can find various article writing posts for various crypto blogs and media outlets on job boards like Coinality.

For example, cryptocurrency forums like Bitcointalk provide their established members with monetization opportunities. It allows companies to advertise their product or service in the signature of their messages.

16. Use Bitcoin Earning Sites

Freebitcoin.io . This earning site is one of the oldest and most favorite BTC faucets. You will get up to $200 free Bitcoins every hour by clicking the reel button. You can earn a few Satoshi (the smallest unit of Bitcoin)




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