All List of Ways to Earn Free Cryptocurrency
We explain how to get or earn “free” cryptocurrency like Bitcoin (all of which take time, effort or an initial investment).
In other words, nothing in life is totally free, you’ll either need to put in some effort or have some cryptocurrency already to make any of the following to work.
NOTE: The idea of this page is to offer an honest look at “how to get free cryptocurrencies like Bitcoin” to better navigate a potentially shady topic. With this in mind, some of the options below (the ones in grey) are questionable (not necessarily a bad idea, just questionable). Use any option below at your own risk, but be extra cautious with the ones in grey (as they have additional risks). Do your own research before using a specific site, especially if the site wants your personal info or wants you to download files.
Ways to Get / Earn Cryptocurrency For Free (Taking Into Account Time, Effort, and/or an Initial Investment)
With the above noted, you can get “free” cryptocurrency in the following ways:
Download a cryptocurrency wallet that offers free cryptocurrency. Some wallets have a built in incentive to get you to use their wallet/coin. For example, offering a small amount of free coins when you create a new wallet. With that said, sometimes this is only offered as a limited time promotion. TIP: Any wallet featured on the site of a coin with a decent market cap, like Bitcoin Core for Bitcoin, is generally A-OK to download. Just be cautious when downloading wallets (as you don’t want to accidentally download malware).
Sign up for an ICO that offers a sign up bonus. Some ICOs will offer bonuses (% off coins, free coins, bonuses for getting a friend to sign up). The end result can be “free coins” of sorts. TIP: Some ICOs are great, others are scams. Hard to tell them apart. So be cautious and don’t get sucked into chasing a bonus.
Use affiliate programs. Enroll in an exchange or ICO, then give your friends the affiliate link. For example, if you sign up with coinbase via this link, and buy/sell at least $100, we both get $10 worth of BTC (see our page on Coinbase for more). TIP: If the company is good and has a history, the affiliate program is a good idea (for example Coinbase is a good company, and their affiliate program works just fine, so this is one example of a good affiliate program). Just beware no-name companies.
Have cryptocurrency in a wallet (but not on an exchange) when a hard fork that creates a new coins occurs. For example, Bitcoin holders received one “free” BCH (Bitcoin Cash) for each BTC (Bitcoin) they owned when the Bitcoin Cash hard fork occurred in August of 2017. That is obviously an absurdly good deal (although one risks the original asset’s price dropping in “split” events like this). TIP: We strongly suggest this, it is the smartest of all the ones on the list (although not without its risks).
Use a cryptocurrency faucet. Cryptocurrency faucets are websites that theoretically either 1. give small amounts of new coins to those who request them (funding this by donations and absurd amounts of ads), or 2. have you click on ads and fill out surveys and then reward you in coins (which is essentially just like the next option on the list, except branded as a faucet). Step one is finding a faucet that works and isn’t scam-y, which could be a somewhat impossible task. Step two is jumping through the hoops. There are tales of faucets working, but there are more tales of them not working well. TIP: We won’t link to any “cryptocurrency faucet” here, if that gives you an idea of which ones we suggest. Google them at your own risk.
Earn cryptocurrency through clicking on ads and filling out surveys. Just like you can earn USD online by filling out surveys, trading “time-for-money,” you can also earn cryptocurrency. Its a bit like a low wage job, but on the plus you can do it from your pajamas and use it to get cryptocurrency without having to join an exchange or use a broker. TIP: We won’t link to any “earn cryptocurrency” website here, if that gives you an idea of which ones we suggest. Google them at your own risk. If a company is reputable, great. Not every company that goes into the “pay people in cryptocurrency for clicking on ads” business is as upstanding as the next.
Play a game that pays out in cryptocurrency. Playing a game, and then having to watch ads, is probably more fun than just watching ads… but it is also more time consuming. Still, there are games that payout in cryptocurrency. For example, the Blockchain Game. TIP: This option is really neat in theory. Right now many of us play free games and watch ads for in-game bonuses, getting small amounts of cryptocurrency is even better. Still, just like the other options, there is a price of sorts.
Coin Leasing. So, in theory, you can lease coins and get a small return, AKA interest, on them (sort of like a CD or bond). I personally haven’t leased coins yet, but word on the street is that this works. I’ll be taking the plunge, trying it out, and updating shortly. Until then, research at your own risk. TIP: This is one of the “you have to have money to make money” options, but the lack of time and effort might be appealing to some.
Mining coins. If you have a computer, you can get “free” cryptocurrency by “mining.” The only thing to note is that mining takes time + electricity. A consumer CPU or GPU will mine very little coin, but the coin you do mine will be “free” (i.e. free minus the cost of electricity and the initial cost of your hardware). TIP: Unless you are going to sink money into a ASIC-based miner, then this is really only going to work as a hobby.
Invest and trade cryptocurrency. When you sit on a coin and it goes up, you essentially get “free” money. When you buy low and sell high, for example via a combo like Coinbase/GDAX, you essentially get “free” money. Of course when the reverse is true, you essentially lose money. Yes, I’m just explaining the basics of investing in an exchangeable asset here. But for those who didn’t know, now they do. TIP: We strongly suggest this, it is more difficult than sitting on coin, but it is a rather rewarding mix of work, time, and initial investment (imagine, the options where you actually do work and put up capital tend to be better investments; shocking I tell you).
That is all the ways to earn free coins I can think of. I’ll add more to the list moving forward.
Bottomline: As you might imagine, the best ways to get “free” cryptocurrency are the traditional ones. That is, buying/selling and mining (if you have the chops for it). Other decent options include affiliate programs and games with ads (if you already play games) or surveys online (if you already do that). In other words, there are some interesting options for “free” coins, but nothing really replaces a days hard work. If your intention is to make money, you are probably better off working a job and setting aside a bit of your paycheck to invest in cryptocurrency. If your intention is to earn a little cryptocurrency as a hobby, CPU/GPU mining, affiliate programs, and even some of the time-for-coin options are interesting choices.
- Anyone want free Cryptocurrency ?
- What the Bitcoin Cash fork means for Bitcoin holders
- 5 Ways to Get Free Bitcoins P. H. Madore on 03/10/2016
- What’s the reward for leasing?