What is the most effective method for obtaining free cryptos?

4 min read

Everyone loves a freebie, especially when that freebie has the potential to appreciate in value. Whether you’re looking for a low-cost entry into the market or you just want to expand your portfolio, free cryptocurrency is never a bad thing. Luckily, many cryptocurrency companies are giving out free crypto in an attempt to on-board new users. Here’s how you can take advantage of these promotions and earn some free crypto today.

Platforms Giving Out Free Crypto

As the market expands, the ways to get free crypto are expanding as well. Let’s take a look at some of the ways you can take advantage of these promotions while they’re still available.

1. eToro Sign Up Bonus

If you’re already invested in cryptocurrency or have some spare money you’re looking to invest, eToro is a great option to get free crypto. The exchange offers a $250 sign up bonus to new investors, but you’ll need to deposit and trade $5,000 to qualify for the promotion. Nonetheless, $250 is a great bonus that you can use to buy over a dozen different cryptocurrencies on the platform.eToro offers investors the ability to invest in professionally managed portfolios, making the exchange a great option for new investors. Also, over 20 million users trust the exchange with their funds, as the platform is seen as one of the most secure cryptocurrency exchanges.

2. Coinbase Learn

Coinbase is primarily a trading platform, but you can also get free crypto worth around $30. While $30 isn’t a large sum of money, those who particpated in Coinbase Learn last year now have over $100 worth of free cryptocurrency from the price appreciation. With its Learn program, the platform is giving away free crypto for simply learning about crypto. Currently, you can learn about Basic Attention Token (BAT), 0x (ZRX) tokens, Zcash (ZEC), EOS (EOS) and others. Watch a video, take a 3-question quiz and answer the questions correctly to get free crypto. Coinbase will credit the cryptocurrency you learn about into your account, so the program is a great way to get a variety of different cryptocurrencies for free.Don’t worry — you won’t lose the free money if you get the questions wrong. You can take the quiz as many times as you need to pass.You must join Coinbase in order to get the free stuff, and this requires that you give your identity and photos to the platform. Coinbase does report to the IRS and other government entities, so don’t come looking for free currency here if you are getting into crypto for anonymity.You can earn an extra bonus referring other people to the Coinbase Earn project.

3. Voyager Exchange

Voyager offers a great cryptocurrency platform for both mobile and desktop use. You can buy popular cryptocurrencies like Bitcoin, Ethereum and dozens of other altcoins.What’s more, you can deposit your cryptocurrency into an interest-bearing account, allowing you to earn up to 10% interest on your cryptocurrency holdings. Deposit $100 or more on Voyager, and you’ll get $25 in Bitcoin as a bonus.

4. Staking Cryptocurrency

Staking cryptocurrency is one of the most innovative ways to earn free cryptocurrency in the form of interest. While staking crypto can get complicated on platforms like Aave, Compound and Uniswap, there are options to stake cryptocurrency on exchanges like Coinbase and Gemini. These platforms let you stake Ethereum on the ETH2 network; ETH2 is the proof-of-stake upgrade to Ethereum. This allows users to earn around 7% interest paid in Ethereum on users’ cryptocurrency positions.If you want to stake your crypto on Coinbase, you’ll need to join the Ethereum staking waitlist. Once approved, you can start staking your Ether tokens to earn interest on your crypto. No looking to wait to stake? Gemini allows investors to begin staking their cryptocurrency for interest right away, so you can start growing your crypto positions today.

5. Crypto.com Cash Back

Crypto.com has partnered with Visa to offer a prepaid Visa card with a cashback incentive. If you purchase items under the program, you will earn the Crypto.com coin, MCO. The platform offers different tiers of rewards depending on the amount of MCO tokens you stake on the platform.The program offers 1%-5% cash back on all purchases which is significantly more than most debit cards. It features 10% cash back on Expedia and Airbnb purchases, and you can even receive a credit for 100% cash back on your Netflix and Spotify subscriptions.

6. Celsius Network Sign Up Bonus

Deposit more than $1,000 in crypto into the Celsius Network, and you can get a signup bonus of $10 in Bitcoin. If you hold the deposit for 3 months, you can double your free Bitcoin with another $10 free reward.You also have opportunities to earn 10% interest on Bitcoin with an additional 30% for holding a portion of your stake in CEL, Celsius’ native coin. This is similar to staking crypto, but the platform uses your position to lend funds to investors, similarly to how traditional banks operate.

7. BlockFi Savings Account

If you’re sitting on crypto and not putting it to work, you could be earning passive income from it. BlockFi offers cryptocurrency savings accounts, and the annual compounded interest rate is 8.6% paid in monthly installments. You can earn your interest in Bitcoin, Ether tokens or USD. Withdrawal limits are also high — 100 BTC per week — far beyond the needs of most lenders.Though there is a gap risk, your deposits are insured through Gemini, which is one of the most highly regulated crypto companies in the world. BlockFi is considered one of the easier platforms to use, so it may be a good choice if you are nervous about getting your feet wet.

8. Cryptocurrency Airdrops

Cryptocurrency airdrops come with no strings attached. Platforms that want to expand their users base sometimes offer crypto airdrops, sending free cryptocurrency tokens to users for simply using their platform. The 1st major example of a crypto airdrop was Uniswap; the platform gave 400 UNI tokens to each wallet connected to the platform, worth over $9,000 today.Missed the Uniswap airdrop but want some free crypto for doing nothing? Benzinga is in the works of creating Zing Token, a loyalty token based on decentralized content creation. To get 10,000 free Zing tokens, checkout the sign up page on our website.

Get it While It’s Hot

In a world of uncertain investments, there are few things better than free crypto. The programs above may be good alternatives for those without the extra cash to put into the crypto market directly or mine for coins. Not to sound cliché, but who knows how long this will last? Crypto platforms are giving things away to get new users like every new product, but no one says they will be so generous when the market becomes more saturated.If you’ve been curious about cryptocurrency, now is the time to take advantage of this. At the same time, be careful of who receives your data. In the future, that data will be much more valuable than any asset on the planet. Trade it for as much value as possible by moving in the industry early.

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article by Amit Caesar:

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