With many options available, Cryptomania is here as always to curate you through the best options out there and let you know about the most important points to be cautious of as there are also lots of scams.
Let’s get to the list of the most reputable ways to earn free cryptocurrency in 2024 and focus on what you need to know about these ways.
7 best ways to get free crypto
Everyone enjoys freebies, but when it comes to free crypto, you have to be careful and attentive. The crypto world is profitable and dangerous at the same time, as it is filled with scams, from rug pulls and honeypots to sheer hacking attempts, making many offers suspicious.
To ensure your safety, we always recommend the most trustworthy ways to earn free crypto from reputable projects and platforms. Let’s get started.
1. Get free crypto for learning
Getting paid in crypto just for learning about it might sound too good to be true, but it’s actually a real opportunity.
There are many interesting learning programs curated by leading crypto platforms, but what is the main goal of such programs? They mainly aim to promote various exchanges and cryptocurrencies.
Many major centralized exchanges, such as Binance, Coinbase, CoinMarketCap, or Phemex offer learn-and-earn programs. These programs provide a small incentive to encourage you to use their platform when you start trading crypto.
Also, exchanges can form partnerships with different cryptocurrencies, creating dedicated modules where you learn about a specific new coin or token and earn a small amount of that token as a reward.
This approach raises awareness about the coin, decentralizes ownership from the creators, and boosts initial trading volume, similar to an airdrop, about which we will talk later in this blog post.
2. Get free crypto by playing blockchain games
Have you ever heard about getting free crypto by playing games, but it’s a reality with play-to-earn (P2E) and move-to-earn (M2E) crypto games? But what is a blockchain game?
A blockchain game uses blockchain technology to create a secure database for tracking the ownership and value of in-game assets. Players can use cryptocurrency or NFTs as in-game currency or assets.
These games allow players to monetize their hobby, offering immersive and rewarding experiences. As the name suggests, play-to-earn games let players earn crypto for playing. The game mechanics and rewards can vary widely, but the principle remains the same: the game provides a financial incentive to play and progress.
Play-to-earn is a relatively new business model in the gaming industry, emerging primarily from DeFi movement.
Tap-to-earn games are the latest trend, rewarding players with tokens of different level of value for simple tapping. Earning in such games is based on mining principles: to get some virtual coins, you need to complete tasks and help the project grow and develop. A spectacular example of a T2E game is Hamster Kombat. Tap the link to learn more;)
3. Get free crypto from airdrops
One of the easiest ways to earn free crypto is through an airdrop. Airdrops are typically used to raise awareness of a new token or coin, decentralize coin distribution, stimulate trading, and reward early investors.
However, be cautious of airdrop scams. In these scams, hackers create a malicious token, send it to user accounts, and use it to phish for user data to gain access to their wallets.
How to avoid airdrop scams? Stick to reputable sites for finding airdrops. Two of the best are CoinMarketCap and Binance, where listings are regularly updated. Check them often to ensure you don’t miss out on free crypto.
A similar concept is NFT drops. Many new NFT projects distribute assets for free to decentralize ownership. For instance, when CryptoPunks first launched, all assets were dropped to users free of charge. These NFTs are now worth millions of dollars.
While not all NFT projects will achieve the success of CryptoPunks or Bored Ape Yacht Club, some might. It’s worth staying informed about new NFT projects and participating in any free NFT drops just in case. As always, DYOR and use reputable crypto news sites to discover NFT projects.
4. Get free crypto on interest
HODLing has proven to be a successful investment strategy in the crypto market, with many investors seeing substantial gains.
HODL (stands for Hold On for Dear Life) is a crypto slang term meaning to buy-and-hold indefinitely. It implies not selling when markets go down or become volatile.
However, letting your crypto assets sit idle in a wallet isn’t the most efficient use of your resources. Instead, you can earn interest on them.
A variety of centralized and decentralized exchanges allow you to earn free crypto simply by HODLing through their wallet or vault services. You can find a comprehensive list of crypto interest options on CoinMarketCap, with some offering up to 10% interest — significantly higher than traditional banks offer for fiat currency.
Some popular crypto interest products include:
- Binance Savings: offers a wide range of flexible and locked savings accounts and coins to earn interest on;
- CoinRabbit: provides 10% interest on stablecoins with no fees and daily rewards;
- Cake DeFi, a DeFi lending protocol that offers up to 7% APY on various stablecoins, BTC, and ETH.
5. Get free crypto from yield farming/staking
Yield farming can supercharge your idle crypto assets. Yield farming involves staking multiple DeFi protocols to maximize rewards. While some investors develop their own strategies, many rely on yield farming protocols to handle the work, allowing them to earn free crypto by simply depositing their assets into a DeFi protocol.
However, yield farming comes with significant risks due to the volatile nature of crypto markets and smart contract vulnerabilities, which can lead to losses. There’s also the risk of impermanent loss, where asset values in liquidity pools can fluctuate compared to holding the same assets outside the pool.
Yield farming is an advanced passive income strategy suited for those with higher risk tolerances. Its efficiency and returns can be high but depend heavily on individual strategies and a strong understanding of the DeFi landscape.
Some of the popular DeFi yield farming protocols include Yearn Finance, Alchemix, and Lido.
6. Get free crypto by referring others
Crypto referral programs have become super popular during the last few years. This is a marketing strategy used by cryptocurrency exchanges, wallets, and other crypto-related platforms to attract new users.
Participants in the program, often existing users, are given a unique referral link or code that they can share with others.
When someone signs up using that link or code, both the referrer and the new user may receive rewards, which can include cryptocurrency, trading fee discounts, or other incentives.
The goal of these programs is to leverage word-of-mouth marketing to expand the user base and increase platform engagement.
Crypto referral programs (they are also called affiliate programs) allow you to earn free crypto by referring others to a specific platform, typically an exchange or wallet. These programs often pay out in cash, but you can always reinvest that money into crypto.
Many major crypto exchanges offer excellent referral programs where you can earn free crypto. Some of the most popular programs include KuCoin, Coinbase, and Koinly affiliate programs.
7. Get free crypto as sign-up rewards
The crypto exchange market is highly competitive, with each platform vying for your business to benefit from trading fees. To attract new users, most major exchanges offer sign-up bonuses.
These bonuses can be in the form of specific cryptocurrencies or credits to your new account, allowing you to purchase any crypto you prefer.
Sign-up bonuses are constantly evolving, but here are some of the best available right now:
BYDFi
- Bonus: Complete your first deposit and trade to receive 100 USDT.
- Additional rewards: Earn up to $2,888 by completing various tasks.
- Details: BYDFi aims to make DeFi accessible to everyone. Take advantage of their generous sign-up bonus and explore decentralized finance.
KuCoin
- Bonus: Limited-time newcomer bonus — earn up to 8,200 USDT in crypto rewards.
- Why KuCoin? KuCoin is a well-established exchange with a wide range of cryptocurrencies. Their bonus program is perfect for new users looking to diversify their portfolios.
HTX Global
- Bonus: Obtain up to 241 USDT as a sign-up bonus.
- Unique features: HTX Global offers a user-friendly interface and a variety of trading pairs. Don’t miss out on their bonus offer!
Coinbase
- Bonus: Spin the wheel for a chance to win USD or Bitcoin.
- Why Coinbase? As one of the most popular exchanges, Coinbase provides a secure platform for beginners. Spin the wheel and see what fortune awaits you!
Wrapping up
Do not forget to keep an eye out for scams. The cryptoworld is already full of scammers, and the number of fraud cases is not getting any lower. The risk increases when it comes to freebies, as scammers often target those eager for the next big thing or easy money.
So, stay vigilant. Avoid any promotion that asks for your login credentials or private keys to a crypto wallet. Also, ICOs might encourage you to trade your legitimate coins for a coin of questionable value.
If you’re looking to earn free cryptocurrency, there are numerous options available, from playing games and sign up bonuses to unique opportunities like airdrops and surveys. Your profit won’t be staggering but it’s honest work, right? Always ensure you are partnering with a reputable entity, otherwise you risk losing your crypto to scammers. Earn, thrive, and stay safe!
