Everyone is talking about cryptocurrency, and you’re probably wondering how you can get a piece of the action. You may be aware that mining is a way to make your computer whirr away and produce digital coins as a result. But it’s not something most people are set up to do. The good news is there are other ways to get your hands on some crypto tokens – in fact, there are lots of them! Here we’ve listed 10 different ways you can earn free cryptocurrency and start your own crypto-rich future:
1. Free Ethereum (ETH)
One way to earn free cryptocurrency is by mining the oldest and most established blockchain of them all: Ethereum. You can do this by setting up a mining rig (a computer dedicated to mining cryptocurrency) and running special software that helps you earn tokens. You’ll need to invest in a dedicated computer with a special graphics card, plus electricity and internet connection costs, so it’s not the cheapest way to earn free Ethereum. But it’s probably the most reliable! You can also buy Ethereum (or Bitcoin) by trading through an exchange like Coinbase, but it’s important to be careful with this as the price can fluctuate.
2. Free Bitcoin Cash (BCH)
If you were too late to the party to earn free Bitcoin, you can still get your hands on free Bitcoin Cash. This token was created as a result of a controversial ‘fork’ in the Bitcoin blockchain in 2017 when Bitcoin Cash was created by members of the public who felt the original token wasn’t going far enough. You can earn free Bitcoin Cash by setting up a ‘faucet’ – a website that rewards you with small amounts of cryptocurrency. You will generally need to view an advert or click on a link to collect your prize. It won’t make you a millionaire, but it’s a fun way to get started in the crypto world!
3. Earn by Staking Crypto
If you own a small amount of a certain type of cryptocurrency, there’s a chance you can earn free crypto tokens by staking them. With a few exceptions, most cryptocurrencies use blockchain technology, which allows them to be ‘decentralized’ – that is, controlled by the public rather than a centralized organization like a bank. Crypto tokens are produced by ‘mining’ – or solving complex mathematical problems – to release them into the world. However, it’s incredibly difficult to earn tokens by mining nowadays because the network is so bogged down with traffic. So to speed up transactions, many blockchain networks allow ‘staking’. This means having your computer connected to the blockchain network and doing a bit of work to prove you own the token (like sending it to yourself and then sending it back to the network). Staking allows you to earn tokens without having to process as much transaction data. It’s a great way to earn free cryptocurrency without having to spend money. And best of all, it’s completely risk-free!
4. Earn By Trading Cryptocurrency
If you’re a more speculative trader, you could try your hand at earning free cryptocurrencies by trading them. In this model, you open an account with a broker that deals in cryptocurrencies, deposit some of your own money, and then try to earn a profit by buying low and selling high. It’s a risky activity, but if you’re lucky, it’s possible to earn free crypto tokens just by trading. There are lots of different brokers out there to choose from, and it’s important to pick one that’s regulated in your country. You can also earn free crypto tokens by trading on an exchange, although there are lots of scammers out there so be super careful when choosing one!
5. Earn By Participating in Research Studies
If you’re interested in cryptocurrencies, then you’re probably interested in blockchain – the revolutionary, decentralized technology that powers cryptocurrencies. One way to earn free cryptocurrencies is by taking part in research studies about blockchain technology. There are plenty of websites offering these kinds of surveys, so it’s worth checking out a few to find one that pays well. As with any survey, it’s important to read the terms and conditions carefully. Although it’s not a guaranteed way to earn free cryptocurrencies, it’s definitely a fun way to get excited about the technology!
6. Earn By Hosting Crypto Events
If you love crypto, you’ll probably have heard of Bitcoin meetups. These are informal gatherings of people who are interested in the subject – you might have even been to one. Well, one way to earn free cryptocurrencies is by hosting such an event. You’ll need to get permission from the local authorities first, and then find a venue and plan the event. Once it’s over, you can promote it on crypto networks and websites. You might not earn a fortune, but it’s a fun way to get the word out about crypto and meet like-minded people. Hosting crypto events is also a great way to earn free crypto tokens by participating. You could offer to give a talk at an existing event or start your own by contacting your local crypto group.
7. Earn By Reviewing Apps and Services
Got an opinion on the latest crypto app or service? Then you could earn free cryptocurrencies by sharing your thoughts online. It’s similar to hosting crypto events in that you earn crypto tokens by writing reviews and completing surveys on websites that pay you in crypto tokens. If you’re a tech expert, you might want to try joining a site called UserTesting. This pays you to review apps and websites – and it doesn’t cost you a cent! There are lots of websites that pay you in crypto tokens for reviewing apps and services, so it’s worth signing up to as many as you can.
8. Earn By Playing Games That Pay Out in Crypto
Not only are games fun, but you can also earn free cryptocurrencies by playing them! There are lots of games out there that pay you in crypto tokens when you play them, either with other players online or against the computer. The most famous games that pay out in cryptocurrency are provably fair games. This means the game is open source, and you can verify that there’s no way anyone can cheat or rig it. It’s also a great way to learn more about blockchain technology.
9. Earn by Becoming a Blockchain Developer
If you want to earn free cryptocurrencies, but you don’t want to do any of the above, there are other routes you can take. You can learn how to code blockchain applications, and there are several websites that will pay you in crypto tokens while you gain experience. There are also several ways to earn free cryptocurrencies by contributing to open-source blockchain projects. There are loads of open-source blockchain projects out there that are looking for people who can help out by contributing code.
10. Conclusion
There are many ways to earn free cryptocurrencies, including staking them, hosting crypto events, reviewing apps and services, playing games and becoming a blockchain developer. These are great ways to learn about the industry, meet new people and earn free tokens.