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In this article, we’ll be looking into different ways to earn free crypto, or if you already know one or two ways to earn some cryptocurrency but you are looking for the best ways to earn free crypto, then you’re in the right place.
But before I proceed, I’ll give you a quick notice in this introduction to help you in your journey to earning free crypto.
The cryptocurrency space proffers numerous opportunities for users to make money. While trading and investing are the two common ways of earning with crypto – which requires initial capital, there are also many ways you can make money for free (without capital) in cryptocurrency.
On this note, some evil actors usually mislead crypto enthusiasts and also persuade them to interact with protocols or websites that could make their crypto wallet get compromised by these bad actors or hackers.
Due to that, many people lost their hard-earned crypto assets, in the name of getting free crypto. That’s why you need to do research and be sure that you’re doing the right thing while finding ways to earn free crypto.
Without much ado, I’ll be listing out the most reliable ways you can make or earn cryptocurrency for free without any capital; just with your phone and internet connection.
Ways To Earn Free Crypto
There are various ways of earning free crypto which may involve minimal tasks you only need to do.
The phrase –”Free Crypto” is always attractive to everyone in the crypto space, and it usually makes a crypto project gain more attention from potential crypto enthusiasts and investors.
But before we go over to different ways you can make free money with cryptocurrency, let’s discover and learn why crypto projects give out free crypto to users.
Why Do Projects Give Free Crypto?
Firstly, crypto projects give out free tokens for a certain purpose, an established or startup project, won’t give out money (in this case, crypto) solely for free without expecting to achieve anything from the program.
So, what are the common purposes of free crypto that projects give out free for users?
A crypto project team may need some sign-ups, downloads, engagements, etc to improve the growth of their project. So, they might offer a few bucks for everyone that downloads or does any of the tasks required.
This initiative also enables the project team to easily create awareness of their projects across different platforms.
This process is a little bit of “market penetration” to make people develop an interest in the project. There are different ways in which the disbursement of crypto may come such as signup bonuses, airdrops, giveaways, and others that I will be explaining.
Also read: 5 Best Long Term Crypto Investment
4 Popular Ways To Earn Free Crypto
Out of the different ways that are available for you to earn free crypto, I’ll be listing out just four popular ways below:
Crypto mining is one of the first and most popular ways of earning crypto. Bitcoin introduced cryptocurrency mining which is a process whereby new cryptocurrencies (coins or tokens) are created through the validation of transactions in the blockchain network.
It is referred to as “Mining” because it possesses similarities to the real-life mining of precious stones such as Gold, Diamonds, etc.
While miners of precious stones have their special equipment, cryptocurrency miners make use of computers to solve cryptographic puzzles and are rewarded with the native asset of the blockchain network.
Cryptocurrency mining is relatively competitive as cryptographic puzzles can be solved by any miner and most miners who operate large-scale mining usually tend to be the first to verify transactions.
If you observe, you’d have known that not all cryptocurrencies can be mined as they do not all use a competitive reward system that a “mining system” utilizes.
Some examples of cryptocurrencies that can be mined with computational powers are; Bitcoin (BTC), Litecoin (LTC), etc.
Although mining cryptocurrency is still possible, it has become much harder now than before – as old-time miners who operate large-scale mining have taken up most of the hashing power of a cryptocurrency network.
Things Needed To Mine Crypto
There are various tools and requirements for mining crypto which are:
- A Cryptocurrency Wallet
A crypto wallet is required for crypto mining. Different types of wallets have slightly different use cases but all serve as a store for crypto assets.
And they are online wallets, offline and hardware wallets.
Online wallets include Metamask, Trust Wallet, and others, which can be downloaded from Google playstore and App Store.
- Mining Software
Mining software is designed to mine cryptocurrency and mostly operates on computers specifically designed for mining. Most mining software is downloadable on different operating systems. However, there is a variety of software used for mining that offers different mining experiences.
- Mining Hardware
Mining hardware can be a computer used for mining crypto. Most computers are built especially for cryptocurrency mining and are quite expensive to purchase.
Another way to earn free crypto is “Airdrop”, airdrops simply mean the distribution of a particular cryptocurrency coin or token to a certain number of wallet addresses and it’s usually for free.
Crypto projects team often utilize “Airdrop” to create awareness of their project.
This way of earning crypto for free always requires you to do some little tasks such as: follows, signups, downloads, and others.
It’s no news that “Testnet” is trending currently and many crypto users are making free money from it, not just free but a huge amount of dollars.
Testnet is an event that most crypto projects organize to garner crypto enthusiasts, to test out the new protocol or blockchain product before it gets fully launched.
The coins used for this testnet purpose are not original coins with value but solely for testing.
In testnets, testers are rewarded with native tokens, NFTs, stablecoins such as USDC, etc. Depending on the project reward mechanism.
Join our crypto community on telegram to learn more about crypto, how to get crypto jobs and get first-hand information on crypto projects worth investing in.
Giveaways From AMA Sessions
AMA (Ask Me Anything) sessions are usually utilized by new and existing crypto projects to enlighten individuals about the project and also create awareness of the project in different crypto communities.
In AMA sessions, questions are entertained as the sessions are mostly held to get the members to inquire about the project.
The most active engagers are mostly usually rewarded in crypto or NFTs. So, you can participate in AMAN sessions on Twitter or any platform and engage to stand a chance of getting free crypto.
Check out: Top 7 Highest APY Crypto Staking In 2022
Getting free crypto can help make it big in the cryptocurrency space – as there’s a probability that the crypto asset you earned for free might increase exponentially over time.
Likewise, crypto is still in its infancy phase and its believed that all current crypto enthusiasts are still early in this space.
Hence, this is the right time to utilize different ways to earn free crypto, which we’ve listed in this article.
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