There is nothing as sweet as free money. The joy is like a miracle. Consumers enjoy freebies in different forms, Card discounts to encourage use of card payments, Code discounts for online shopping ( in some cases there are promo codes to get all your money back).
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With the evolving financial ecosystem, you can now all these benefits delivered in cryptocurrency.
Research all free cryptocurrency opportunity before you dive in. The focus should be on if the free crypto is worth the work the offer mandates you to put in place before receiving especially if the free cryptocurrency is insignificant. Another thing is how expose to fraud will participating in such opportunity affect your finances . Unfortunately there are many crypto scammers hovering around crypto ecosystem waiting to devour on any mistake from consumers and wreck genuine crypto investors.
1. Bitcoin Interest.
You can earn interest on your bitcoin. Some exchanges allows you to earn interest on your bitcoin holdings. There is Gemini earn where you loan to Bitcoin institutional borrowers and earn upto 7.4 % APY. You can also earn interest by staking in some Bitcoin exchange like Binance. The concept of staking means leaving crypto in your wallet to earn interest or rewards. In this instance, the income are taxable,also bear in mind that this has it’s attendant risks. Read the terms and conditions before participating.
2. Learn and Earn
Some cryptocurrency exchange offer incentives for watching or reading their tutorial contents. In order to get the free money, you have watch or read the learning content and participate successfully in the quiz afterwards to receive free cryptocurrency in your wallet.
3. Exchange sign-ups and referral bonuses
To get more customers, some cryptocurrency exchange offers sign up and referral bonuses. You will be offered a certain amount of cryptocurrency once you sign and they are usually redeemable after your first successful transaction on the platform. In referral bonuses, the person who sign have to do so with a referral link or code from a second party who benefits from referral bonus in the form of crypto.
4. Rewards for Shopping.
Lolli, A Google chrome of Firefox browser extension offers “Bitcoin Back” whenever you shop with it’s over 1000 top retail partners. The Bitcoin Back ranges from 30% back in Bitcoin of all your purchase to 100%. Retailers on Lolli ranges from coffee shop retail giant Cafe Bustelo Expresso, Malaysia Airline to Nike sporting wears.
Of all the ways of earning free cryptocurrency, airdrops carry the most risks. It also has the potential of giving the biggest free crypto. Developers give out airdrops when they want people to adopt their cryptocurrency, in most cases when launching a new cryptocurrency.
Airdrop announcements are usually circulated on social media. Anyone interested must meet up with the criteria given by developers. AIRDROP is usually send to your wallet when your participation meet all the listed criteria.
Absolutely caution should be involved when participating in airdrops from new developers. Be weary of new cryptocurrency projects like ICO and fake airdops. These are common scams used by hackers. In some cases when they are real, many coins issued during airdrops are not great investment store of value. It is recommend to stick with well know cryptocurrency or ones endorsed or newly created by well known crypto exchanges.
I will leave you with these closing remarks from Times on Airdrops.
“Even though there are ways to earn extra crypto for free, don’t let the temptation of freebies force your hand. Cryptocurrency is a very volatile, new investment, and you should only ever put in what you’re OK with losing.”