Ever since they exploded into popularity several years ago, it seems as though the public can’t get enough of cryptocurrencies.
From Bitcoin to Dogecoin, it seems as if everyone is looking to get aboard the crypto train before it leaves the station.
Given how high the price of most mainstream cryptos are nowadays, many have been wondering whether it is possible to even invest in the market.
The answer is a resounding yes… And you won’t have to spend thousands of dollars on it.
But how exactly would that work?
Well, before we get started make sure that you keep the following points in mind.
- Cryptocurrencies are extremely volatile – prices can very suddenly change with little-to-no warning
- The crypto market is totally unregulated
- Scammers are a major problem
The last point is something that you would do well to remember. As cryptocurrencies have become exceedingly popular, scammers have come to realize how easy it is to find new victims.
So always remember: if an offer sounds too good to be true, then it probably is.
1. Farm crypto faucets
Basically, crypto faucets are platforms that reward you with cryptocurrencies when you complete a set of seemingly random tasks.
These can range from completing a few surveys, watching some videos, or maybe even playing a game.
And why are crypto faucets giving you free money?
Well, that’s because faucets were originally intended to be a way for folks to get their hands on crypto with minimal risk. Because the payouts are so small, most regard crypto faucets as a way to earn crypto casually.
However, some folks have taken to farming these faucets by collecting tokens from various sources. This allows you to gradually accumulate tokens over time without having to spend any money.
But given how slow it is, it isn’t the most efficient way of getting the job done.
2. Hunt for sign-up and referral bonuses
In order to encourage new users, some crypto exchanges and wallets offer sign-up or referral bonuses.
Sign-up bonuses reward you with a quantity of cryptocurrency when you register for a new account. Meanwhile, referral bonuses are payouts given to users for each successful referral of a new user.
Sign-up bonuses are more of a one-time thing and unsuitable if you’re looking to accumulate a crypto regularly.
However, referral bonuses can be somewhat lucrative if you have a large network of friends and family that you can rely on.
3. Look out for airdrops
An airdrops is a crypto marketing campaign that is intended to help promote the launch of a new coin. Airdrops work by directly depositing cryptocurrency into a recipient’s ewallet.
Usually, these programs are performed by relatively new startups who are looking to generate awareness within the market.
Airdrops are usually advertised on cryptocurrency forums or social media and recipients need to have an ewallet.
However, with crypto’s rise in popularity, scammers have taken to offering fake airdrops in an effort to solicit personal information from their victims.
4. Earn interest on your cryptos
While it requires you to actually have some cryptos to get started, staking is a great way to make your money work for you.
Staking is essentially the equivalent of an interest-earning account. The difference here is that your money is used by the blockchain to verify and secure existing transactions.
Hence you’ll be paid in return for putting your cryptos up for use. Cryptocurrencies like Ethereum and Cardano can be used for staking.
However keep in mind that you will be “tying up” your cryptos for the duration of the entire staking process.
And also, always be sure to stake your cryptos with a reputable site. Check out this list here for more info.
Earning free cryptos online is perfectly possible and there are other ways to earn free cryptocurrency by Tezro here.
In fact, it can be quite lucrative in some instances. However, you should always be careful as the market is both unpredictable and extremely volatile.