Decentralized finance with cryptocurrencies as its wheels have created earning opportunities for the masses by decentralizing, distributing and democratizing financial participation. Without the red tapes and constrictions of a centralized financial system, even the unrepresented and those with limited resources can invest in a digital asset like cryptocurrency. It’s not surprising that, for the general public, decentralized finance has become a means to improve financial health.
Since cryptocurrencies are developed through resource-efficient means, the upfront cost to buy a crypto asset is far less than investing in a physical asset like a company stock. No wonder, developing countries like India, Vietnam, Brazil and Argentina register high trading volumes.
The upfront cost to enter a crypto trade is significantly lower as one can buy the fractions of a crypto asset or spend as little as $10 on a coin like MATIC, the native cryptocurrency of the Polygon network with a high-growth potential, and get started. The crypto industry is highly inclusive and anybody with keenness can gain access to detailed information around a cryptocurrency or a cryptocurrency-fueled project. So what are the best ways to earn cryptos without spending any money? Let’s find out.
Blockchain games like Axie Infinity, Plants vs Undead, Gods Unchained are taking the crypto space by storm. So popular some of these games have become that those that required an upfront cost of no more than $10 a couple of years ago are gracing the $100 mark today. Then there are gas fees to consider.
To combat a high entry barrier to popular P2E games, game guilds like Axie University, Yield Guild Games, RoboFi, Hodlgod are creating opportunities for people to earn game-based cryptocurrencies even without an initial monetary investment. The only resource to invest is skill and the proclivity to learn the game strategies.
Axie Infinity awards its players in Smooth Love Potion or SLP tokens which players convert to fiat currencies through a peer-to-peer (P2P) market like Binance thus generating a legit passive source of income.
Apart from Axie Infinity, other games also designed around the play-to-earn model are Splinterlands, My DeFi Pets requiring an initial cost within $10. Splinterlands, for instance, a digital card game, can earn you upto $30 with earnings realized in their natve, DEC tokens, which you can cash out to a fiat currency through Binance P2P. You can also sell the game cards you accumulate by trading to an NFT marketplace for a profit.
Most of the popular exchanges will have a program that will earn you free crypto. Coinbase, for example, has a learn to earn program where you can watch educational videos, take quizzes and earn altcoins as rewards. Benefits include getting exposure to new altcoins that may appreciate in value in the future.
You can exchange these crypto tokens for other popular tokens, convert to fiat or look for platforms to stake them to earn an interest. All you have to do is create a Coinbase account, get verified and visit coinbase.com/earn, join the waitlist and get email notifications when Coinbase is ready to take on new learn to earn candidates.
A lot of these exchanges, including Binance, KuCoin and Coinbase also offer bonuses in cryptocurrencies for promoting the platform. So if you come across any exchange or crypto product, do check out their referral and affiliate sections.
C-trade is a cryptocurrency derivatives platform that offers new users a welcome bonus of up to $200. Though a cash prize is not exactly winning free cryptos, it can help reduce trading fees and you can even buy a cryptocurrency using the money. C-trade also offers users a referral code to invite their friends to the platform. For every invitee who registers and makes an initial deposit of ≥ 0.02 BTC, you earn a $15 bonus. C-trade has an affiliate program in place besides all these. Please visit this page if you want to be an affiliate for C-trade.
You can also try out the referral program on Energiswap, which is a decentralized exchange requiring no KYC. In order to use Energiswap, you need to add Energi mainnet to your Metamask wallet and connect it to the Energiswap platform. To earn referral bonus, go to their Affiliates’ page, generate the referral link and share it with your peers. Energiswap gives you the opportunity to earn up to 18% of the trading fees your referrals incur through a three-tiered referral program. You get these commissions in the tokens your referrals are trading for. For example, if your referral trades DAI for another token, you get the commission in DAI, thus giving you the opportunity to earn multiple crypto tokens.
Earn BAT Token Using Brave Browser
The Brave browser can earn you BAT (Basic Attention Token) tokens when you opt to view their ads. You can enable Ads and the Reward settings on the browser and choose the minimum number of ads you want to watch. At the time of writing, the BAT token was trading at $1.40.
You can withdraw BAT tokens by selecting the withdraw funds option on the browser. You would be redirected to “Uphold”, where you can exchange your BAT token for another cryptocurrency or sell it and earn fiat money. However, a downfall of Uphold is you need to have a specific amount of cryptocurrencies to activate your account. To avoid this, you can also get your BATs withdrawn to your Gemini account. To do so fill up KYC details and create an account on Gemini.
Please note that Gemini supports a handful of fiat currencies and banks. So you might not find your currency or bank if you wish to convert your BAT to cash. In that case, withdraw the BAT token from your Gemini account to your Binance wallet, for example, and deploy it in real life whenever you want.
Get Crypto Through Airdrops
Many blockchain projects distribute their tokens through airdrops. From time to time, such projects list their tokens on third-party/centralized cryptocurrency exchanges like Binance or KuCoin. New tokens also get listed on DeFi exchanges like Uniswap, PancakeSwap, SushiSwap etc. Not only does getting allocation in an airdrop earn you free cryptos, it also improves your exposure to new niche coins that might become future multi-baggers.
Airdrops.io could be your go-to to get your hands on the latest airdropped tokens from young projects. Some of the launchpads you may look into as well for airdrop announcements are Trustpad and Yellodrop Once the token distribution period is over, these tokens get available on the exchange to be traded.
Getting allocation in an airdrop varies from project to project. Some are free to enter and may require you to complete certain tasks like promoting their project, testing their features or entering a competition. Some may require you to lock in your existing cryptocurrencies till the vesting period, but beware of such airdrops. You may be scammed off your hard-earned money and never get your funds back.
In order to avoid airdrop scams check:
- The platform on which the token is listed; listings on centralized exchanges are your safest bets.
- Read the Whitepaper/Paper and measure the authenticity of the project. Ask questions to core team members and go ahead when you are satisfied with their answers.
- If an airdrop requires you to lock in your funds, check whether their smart contract has been audited. Again talk to the people behind such projects. You can consider staking on a centralized exchange for an allocation. However, with DEXs, this is definitely risky business.
Competitions and giveaway contests are popular activities in the cryptocurrency space. Crypto competitions are a way for crypto projects and protocols to incentivize users and keep them engaged and motivated. New crypto projects would often hold crypto giveaway contests to entice early adopters. At the users’ end, these contests mean winning free crypto tokens, stablecoins and other digital assets. Plus, the gamification aspect makes them enjoyable.
Crypto competitions can come in various shapes and forms. For example, a new project can give away its native tokens, NFTs or other digital assets to people for promoting the project through a retweet or a referral program. Trading competition is another popular type of crypto contest that can win you free cryptos and trading bonuses. The contest rules may vary, but the end goal is the same: winning something of utility.
There are no specificities as to what you may win by participating in a crypto giveaway contest. The rewards can be anything from popular cryptocurrencies like BTC and ETH to native tokens. However, if you really want to benefit from these competitions, read the competition details before joining and check if you can use these rewards in real life.
Disclaimer: The content in this article comprises personal opinions and should not be construed as containing personal and/or other investment advice and/or an offer of and/or solicitation for any transactions in financial instruments and/or a guarantee and/or prediction of future performance. C-Trade, its affiliates, agents, directors, officers, or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability as to any loss arising from any investment based on the same.