The year is 2022, and you are just getting started with your crypto journey and looking to earn some free cryptos to boost your early journey
In this article, we outline 5 simple ways to earn crypto without mining or too many technicalities, but before we kickstart let’s take a minute to talk about how cryptocurrency works
How Does Cryptocurrency Work?
The technology of cryptocurrency may sound complex, and in many ways, it is, however, the idea of cryptocurrency is actually rather simple.
Rather than a centralized form of physical currency like the dollar, GHs, GBP etc, cryptocurrency is a digital peer-to-peer currency that is tracked through a public digital ledger.
This public ledger is called a blockchain, and one of the most common ways to earn cryptocurrency is to mine the blockchain.
This mass running ledger is encrypted to secure user data and to secure the entire system.
Cryptocurrency can be used just like any other form of currency; it is simply housed digitally rather than being physically printed and minted.
You also have the opportunity to invest in cryptocurrency through cryptocurrency exchanges like binance, kuucoin, coinbase etc, which are similar in some respects to stock exchanges.
Rather than storing, receiving, and transferring money through a traditional bank, however, digital wallets are used to make these digital transactions.
These wallets secure cryptocurrencies, make online transactions streamlined, and even give you access to the public ledger
Note that while cryptocurrencies are often volatile, they can provide much greater rewards than traditional investment ventures,
With all that said let’s delve into
1. Coin marketcap Earn
Coinmarketcap is the industry’s largest coin tracking website with over 16000+ and hundreds more being added daily,
It offers easy, fun and low-risk ways to acquire crypto assets by taking lessons and testing your knowledge
Visit https://coinmarketcap.com/earn/ to learn more about the types of cryptos you can learn
2. Coinbase
Coinbase is one of the largest cryptocurrency exchanges in the world.
It has recently rolled out a section of its site called Coinbase Earn that allows you to earn free cryptocurrency simply by watching educational cryptocurrency videos.
So not only are you getting free crypto but free education as well
3. Cryptocurrency Referral Programs
Cryptocurrency programs are available to those who are part of crypto exchange sites, and if you currently hold crypto, you’re more than likely already a part of one of those exchange sites.
These exchanges often have a referral program, much like an affiliate program.
When you get others to sign up using your referral link, you can earn free crypto or other rewards.
Users have to complete specific actions, typically a minimum number of transactions or buying and selling a minimum amount on the exchange, in order for you to earn your referral reward.
Using an exchange’s referral program is one of the easiest ways for you to earn cryptocurrency for free, with very little involvement needed on your end.
Remember to always go through secure, safe exchanges eg Binance to avoid common scams.
4. Binance Earn
Binance Earn is a portfolio of cryptocurrency products designed to provide you with passive income on your idle assets.
With Binance Earn, you can start saving, staking, or even becoming a liquidity provider in DeFi markets to earn passive income on bitcoin, stablecoins, altcoins, and more.
And, only on Binance, we even support earning opportunities for fiat currencies.
Check out https://www.binance.com/en/earn
5. Airdrops
Warning: Many airdrops are a scam. Be very wary of an airdrop that requires you to download an application. If an airdrop website asks for your login credentials or private keys to a cryptocurrency wallet, it is certainly a scam. Always do your own research before participating in an airdrop.
An airdrop is a cryptocurrency giveaway that developers of a (typically) new cryptocurrency do in order to spread awareness about the new cryptocurrency itself, often as part of an initial coin offering (ICO).
Airdrops are kind of like free samples at Costco — they give you a taste of their latest spread in the hope that you buy it and keep using it.
It’s the same thing with airdrops. The developers of a new coin are giving you a “sample” hoping that you might buy more of the coin itself and participate in its ecosystem.
Typically, in order to participate in an airdrop, you have to take some action, such as:
- signing up for the project’s newsletter
- joining the project’s Discord server or Telegram group
- following the project’s social media account
- sharing on social media about the project
It’s important to keep in mind that many airdrops are scams and even airdrops that are not scams may still be a waste of time, leaving you with a cryptocurrency that never takes off and is essentially worthless.
If you’d like to check out the latest crypto airdrops, you can look at sites like airdrops.io. If that site feels overwhelming, you can check out CoinMarketCap’s exclusive airdrop page.
Before I move on to the next way to get free cryptocurrency, I want to say it again: Many airdrops are scams, and you should be doing significant due diligence before participating in one, even if you found it on a website like one of the ones listed above.
