As the popularity of cryptocurrencies continues to grow, the appeal of earning these digital currencies for free becomes even more attractive.
In 2024, there are many ways people can explore how to deposit cryptocurrency without spending money.
However, it is important to approach these opportunities with caution and with a well-informed mindset.
This guide outlines 10 effective ways to earn free cryptocurrency in 2024. Each method offers a unique approach to acquiring these digital assets, catering to different skill sets and preferences.
From participating in airdrops and rewards campaigns to taking advantage of referral programs and completing microtasks, there are many avenues to explore.
Airdrops
Airdrops have become a popular concept in the cryptocurrency industry as they distribute free crypto tokens to users. Airdrops are often used by companies and projects as a strategic move to grow their user base or gain a significant following for a new cryptocurrency.
During an airdrop, businesses and developers distribute tokens to participants for various reasons. One of the primary motivations behind airdrops is to create awareness and attract attention to a particular crypto platform or project. By giving away free tokens, businesses can incentivize users to engage with their platform and gain familiarity with their product.
Faucets
Crypto faucets are online platforms that offer small amounts of cryptocurrency to users in exchange for completing tasks. These tasks can range from solving captchas to watching ads or playing games. The idea behind these faucets is to introduce users to the world of cryptocurrencies and give them an idea, as well as generate some traffic to the faucet website.
One of the key aspects to consider when using crypto faucets is the potential risk of fraudulent faucets. Fake scams may advertise generous rewards but fail to deliver the promised cryptocurrency. To avoid falling victim to these scams, it is important to thoroughly research the validity of a faucet before using it. Reading reviews, checking forums, and consulting reputable sources can help determine the trustworthiness and reliability of a faucet.
Additionally, some fraudulent faucets may require users to provide personal information or even send some cryptocurrency as a “registration fee.” This is a big threat because legitimate faucets never ask for personal information or any type of payment from users.
Browser and Search Engine Awards
Recently, some browsers have introduced search engine rewards programs where users can earn cryptocurrency rewards for using their platforms.
An example of a browser with a search engine rewards program is Brave. Brave rewards users with a cryptocurrency called Basic Attention Token (BAT) for viewing privacy-respecting ads while browsing the web. Users have the option to view ads and receive BAT tokens, which can be used to support content creators or redeemed for other cryptocurrencies.
Another example is PreSearch, a decentralized search engine platform known for offering free crypto rewards for performing online searches with its native cryptocurrency PreSearch Token (PRE). Users earn PRE tokens by searching through the PreSearch platform instead of traditional search engines like Google or Bing.
To earn free cryptocurrency through these platforms, users typically need to create an account, enable the rewards program, and engage in desired activities such as viewing ads or performing searches. The exact requirements and rewards vary between different platforms.
However, users should be careful when participating in these rewards programs to avoid scams and fraudulent schemes. It is advisable to do your research and choose well-established platforms with positive user reviews and transparent operations. Users should be wary of any requests for personal information or financial details and ensure they use a secure connection and trusted platform.
Crypto Credit and Debit Cards
Crypto rewards cards have become a popular way for people to use digital currencies in their daily routines. These cards allow users to make payments and purchases using their cryptocurrencies, bridging the gap between traditional financial transactions and the world of digital currency.
A major benefit of these cards is the ability to earn free crypto rewards on everyday purchases, often in the form of cashback. Users can get a small percentage of their transaction amount back in the form of cryptocurrency, which can be used for future purchases or simply kept as an investment. This feature not only provides added value to users but also helps encourage the adoption and use of cryptocurrencies.
Many platforms have introduced crypto-specific credit cards to meet the growing demand. An example is the Coinbase Card: with it, users can spend their cryptocurrencies anywhere that accepts Visa. Another option is the Gemini Mastercard; Its users can recover up to 3% in Bitcoin or other digital currencies. Binance Card is another popular option, providing access to a wide range of cryptocurrencies and allowing hassle-free spending. Additionally, Nexo offers a credit card that allows users to instantly borrow against their cryptocurrency holdings while also having the ability to earn repayments.
Play-to-earn games
Play-to-earn games that bridge the worlds of gaming and cryptocurrency have gained significant popularity in recent years. These games allow players to not only participate in entertaining games but also earn real-world value in the form of cryptocurrencies and other digital assets.
Earning cryptocurrency through gameplay usually involves players completing in-game tasks, challenges, or missions. As players progress and reach specific milestones, P2E platforms reward users with cryptocurrency or digital assets. These rewards can then be exchanged or sold on cryptocurrency exchanges for other virtual currencies or even real-world money.
One of the main advantages of play-to-earn games is the possibility of obtaining substantial rewards. Players who put time and effort into these games can accumulate valuable digital assets that can be appreciated over time.
Some popular money-making games include Axie Infinity, DeFi Kingdoms, and Gods Unchained. Axie Infinity is a blockchain-based game that allows players to collect, raise, and fight creatures called Axies. Players can earn the game’s native cryptocurrency, AXS, through various in-game activities.
Referrals
Major crypto exchanges and wallets, such as Binance and Coinbase, often offer referral programs as a strategy to attract new users. These programs typically work by providing existing users with a unique referral link, which they can share with their friends and acquaintances.
When a new user signs up through a referral link, both the referrer and the referee receive rewards or incentives. These rewards are usually in the form of commissions or referral bonuses, either in cryptocurrency or fiat currency, deposited directly into the referrer’s account. The reward amount may vary depending on the platform and the specific terms of the referral program.
For example, Binance offers a referral program where users can earn a cashback voucher for $100 in trading fees.
These referral programs serve multiple purposes for crypto wallets and exchanges. Firstly, they encourage existing users to promote the platform, which helps grow their user base. Secondly, they encourage new users to sign up by offering them additional incentives. Finally, by rewarding users with cryptocurrency, these programs also encourage participation and use of the platform.
Crypto Savings Accounts
Crypto savings accounts have become an increasingly popular investment option for those who want to earn passive income from their digital assets. These accounts offer higher interest rates than traditional banking and provide the opportunity to increase the value of cryptocurrencies such as BTC, ETH, USDC, and USDT.
Additionally, since cryptocurrencies have the potential to generate substantial price appreciation, the value of assets held in these savings accounts could increase further.
While a crypto savings account may be a great idea in theory, its implementation leaves a lot to be desired.
The dramatic drops in Celsius and BlockFi highlight the weakness of centralized lending platforms in the cryptocurrency sector. Celsius was exposed to regulatory scrutiny and founder Alex Mashinksi’s legal troubles, exposing deep-seated flaws in the platform’s business model. Similarly, BlockFi’s problems, including regulatory fines and liquidity issues, raise questions about the sustainability of centralized lending operations. These incidents underscore the need for stricter regulatory oversight and investor oversight in the crypto lending sector, driving a shift toward decentralized alternatives that offer greater security and transparency.
Reddit Moons
Reddit Moons is a unique feature on the popular social media platform that allows users to earn cryptocurrency by actively participating in the r/cryptocurrency subreddit. To start earning MOON tokens, users must first join the r/cryptocurrency subreddit.
Once you become a member, participation is important to earn Reddit Moons. Users can contribute to the subreddit by participating in discussions, posting original content, sharing news, and providing valuable information about cryptocurrencies. By adding value to the community with their contributions, users increase their chances of earning MOON tokens.
Reddit Moons earnings are based on a distribution system that takes into account several factors, such as the quality of contributions, votes received, and overall participation. The more actively a user interacts with the subreddit and the more valuable their contributions are, the better their chances of earning MOON tokens.
It is important to note that Reddit Moons are not awarded randomly, but rather as a reward for active participation and contributions to the r/Crypto community. This creates an incentive for users to engage in meaningful discussions and provide valuable information, which ultimately benefits everyone on the subreddit.
Staking
Staking is a cryptocurrency concept, particularly applicable to proof-of-stake blockchains, that involves staking a certain amount of tokens to help secure the network and earn rewards. The purpose of staking is to incentivize users to participate in the operation of the network, such as transaction validation or block validation. By staking their tokens, users contribute to the security and decentralization of the network.
One of the main rewards for staking is earning additional tokens in the form of interest or dividends. This allows holders to passively generate income from their cryptocurrency investments. Rewards are often distributed proportionally among interested parties based on factors such as the number of tokens staked or the duration of the stake.
However, there are some potential risks involved when placing bets. A major risk is locking up funds for a predetermined period. During this time, staked tokens are generally not accessible for trading or other purposes. It is important to consider this liquidity when deciding how to bet, as it may limit your ability to react to market conditions or take advantage of other investment opportunities.
Additionally, there is a risk of losing staked tokens if the network experiences a security breach or other technical issues. While staking is designed to increase network security, no system is completely immune to vulnerabilities. It is essential to carefully evaluate network reputation, security measures, and protocol stability before participating in staking activities.
What Are the Most Popular Websites To Earn Free Cryptocurrencies?
Do you want to earn free cryptocurrencies? Below are some popular sites where you can do this.
CoinSmart
Based in Canada, CoinSmart is offering new users a good deal: 15 CAD worth of Bitcoin when you sign up and verify your account. You can further increase your Bitcoin reserves by referring friends, completing challenges, and participating in promotions. CoinSmart supports over 15 cryptocurrencies including Bitcoin, Ethereum, and Litecoin.
Coinbase
With over 70 million users worldwide, Coinbase is a trusted name in the world of cryptocurrencies. Their Learn and Earn program allows you to watch short educational videos on different cryptocurrencies and earn up to $200 worth of cryptocurrency for free.
Binance
As the world’s largest crypto exchange, Binance knows a thing or two about cryptocurrencies. Join their Learn and Earn program to take quick tests and assignments on different cryptocurrencies, and you can earn up to $100 worth of free cryptocurrencies.
Phemex
Based in Singapore, Phemex offers a Learn and Earn program where you can watch short videos and read articles on crypto and blockchain topics. Learn more and earn up to $100 in free cryptocurrency.
CoinMarketCap
As a destination for crypto information, CoinMarketCap also has a Learn and Earn program. Take cryptocurrency quizzes and surveys and get up to $50 in free cryptocurrency.
crypto.com
This Hong Kong-based platform offers a wide range of crypto products and services. Sign up and stake at least $400 in CRO to receive a $25 bonus. Also, explore their various offerings such as crypto apps, exchanges, and more.
Newton
Another Canadian gem, Newton, offers you Bitcoin worth 25 CAD when you sign up and exchange at least 100 US dollars in cryptocurrency. Promote to earn more and take advantage of the Newton Savings service to earn up to 12% interest on your holdings.
StormX
Are you interested in earning cryptocurrency while you shop? That’s exactly what StormX offers. You can browse and shop at over 1000 online stores, activate rewards, and pay as usual. Depending on your StormX rewards level, you can earn cryptocurrency cashback ranging from 0.5% to 87.5%. Once you reach $10 or more in rewards, it’s easy to withdraw them to your crypto wallet.
Lolli
Like StormX, Lolli allows users to earn Bitcoin cash and rewards at over 25,000 major stores. Users can earn up to 30% cash back or Bitcoin with Lolli’s free browser extension and mobile app.
Disclaimer: Please note that the content of this article is not financial or investment advice. The information provided in this article is solely the opinion of the author and should not be construed as trading or investment recommendations. We make no guarantees about the completeness, reliability, and accuracy of this information. The cryptocurrency market suffers from high volatility and sometimes arbitrary activities. Any investor, trader, or regular cryptocurrency user should research multiple approaches and be familiar with all local regulations before investing.
