Where to get free crypto: bonuses and giveaways explained

There’s no such thing as a free lunch, but is there such a thing as free crypto, and how to get it?

Contents

Free money – there has to be a catch, surely

There are catches, of course, but we are going to tell you where to get free crypto, potentially speaking. 

 

Where to get free crypto: Mining and staking

One of the most common ways to get hold of “free” cryptocurrency is to set up as a crypto miner. Many cryptocurrencies, most notoriously, bitcoin, rely on mining to both mint new tokens and to add blocks to the blockchain. This is how it works. You get a computer and, using the computer, you solve a series of mathematical equations. By doing so, you add more blocks to the blockchain you are working on and, in return, you will get paid out rewards in the native cryptocurrency of whichever chain you are working on. Sounds pretty simple, right? Well, unfortunately, it isn’t quite as straightforward as it might seem. It can also be very expensive.

First, you will need to get a computer powerful enough to solve the equations.

Second, the sums involved get ever more difficult, which means that your common or garden everyday computer may not be able to have enough power to crack the codes in question.

Third, even if you have a powerful computer, you will probably find yourself using a lot of electricity. This will give you a sizable power bill, which might well be counterproductive to the idea of earning free crypto, and, by extension, can take its toll on the environment.

Finally, not every cryptocurrency makes use of mining or, as it is otherwise known, proof-of-work to bring new crypto into circulation. Some cryptos use proof-of-stake, which means that, at its most basic level, you can still earn “free” cryptocurrency – but you will need some crypto to begin with in order to stake to earn. Either way, crypto mining or staking may not be the easiest places to look if you are trying to figure out where to earn free crypto. 

Exchange bonuses

There is also the possibility of making “free” crypto via exchanges. A great many crypto facilities give new members bonuses, allowing them to get something extra to start their crypto portfolio. For instance, if you sign up to the Coinbase exchange, then you can watch informational videos on the Coinbase pro system which should, in turn, allow you to get paid a sum in the particular crypto that the video is about.

Other exchanges do things a little more traditionally. In some cases, people who sign up to an exchange can, once they have deposited money in their trading accounts, get some free crypto as a “welcome” bonus. This is perhaps one of the more common methods in terms of where to get free crypto. That said, in many cases it is not as simple as signing up and getting free money. Understandably, exchanges have to carry out Know Your Customer (KYC) checks in order to guard against money laundering, so you will have to go through that process. Also, you will need to deposit money into your crypto account. In addition, you usually do not get much of a choice as to what free cryptocurrency you receive. You might find that your free crypto is the exchange’s native token, or else it might be the ubiquitous bitcoin. Either way, while many crypto exchanges do offer the opportunity to earn free crypto, you may find that, in terms of getting free cryptocurrency, they may not be the best places to get it. 

Articles, searches and faucets

There are some crypto-based websites that allow you to earn cryptocurrency without having to pay for it. The web publisher Publish0x publishes articles from users who, in turn, are paid in cryptocurrency. While this does not really sound like a way of getting free crypto –it is more like getting paid a wage in crypto – what makes it interesting is that the site’s readers can earn free crypto through the process of reading articles. Readers can “tip” an author, with the (very small) tips funded by Publish0x, and they can split the tip any way they like, between the writer and themselves, thus rewarding the writer for writing the piece and themselves for reading it. Thus the writer and the reader get paid crypto without having to do terribly much. While there is nothing to suggest that Publish0x might not go under at any moment, this is a way of getting hold of cryptocurrency without having to pay for it.

Another way of getting information about cryptocurrencies and being paid when doing so is via the Presearch search engine, which pays its users in the PRE cryptocurrency whenever they use the system. Again, it is a pretty small fry crypto, but you can get paid for doing something you might well already do anyway. As ever with crypto, you will still need to be aware that prices can go down as well as up, so the value of what you might earn can vary significantly. 

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There are also crypto faucets. These programs pay people a small amount of crypto for carrying out relatively simple tasks, such as watching adverts, clicking links, or doing quizzes. Not all crypto faucets are legit. For instance, some of them want you to click on links, which may contain malware. If you want to use crypto faucets, then you will need to be very careful, do your own research and remember, if something seems too good to be true, it probably is.

Shake, spend and drop

Shake Shack
Shake Shack offers some customers crypto cashback - Photo: Shutterstock

It is not just exchanges and the like which offer free cryptocurrency. Companies outside of the world of crypto are also getting in on the act. 

For instance, the burger chain Shake Shack announced in March 2022 that customers who signed up to a reward scheme twould be eligible to receive bitcoin if they made purchases using the Cash Card, a debit card available to people who use the Cash App digital wallet. If someone uses Cash Card, then they can get 15% of the value of their purchase paid back to them in BTC. 

What is interesting about this promotion is that Shake Shack launched it when it did. Had it given people the chance to earn crypto in 2021, when the market was booming, then you could have seen it as a business jumping on board a bandwagon. However, Shake Shack did not launch during the massive crypto bull run of early 2021. Instead, it linked up with Cash App at a time when the cryptocurrency market was in something of an overall bearish mood.

While, at first glance, this might well seem like a strange decision to give customers the chance to earn free crypto at a time when that free crypto is not worth as much as it could be, it can be seen as, ultimately, good news for cryptocurrency. The restaurant is basically betting that people will carry on caring about crypto enough that they will sign up for this deal and will eat at Shake Shack more as a result. This would suggest that, at least in the eyes of Shake Shack management, that cryptocurrency is sustainable. As the business’s chief marketing officer, Jay Livingston, says: “You’re always trying to place your bets on those things that truly will be meaningful and not waste resources on the ones that won’t.

 “If we just started taking crypto right now at our kiosk, it would have very low adoption, but through someone like Cash App, who’s been promoting it, you will get some more people that want it and that also want to learn.”

It is possible that, should there be enough take up of the offer, Shake Shack might start to take payment in crypto. We will have to wait and see what happens. 

There are other ways to earn crypto without having to do anything terribly different. For instance, there are credit cards which offer users cashback in the form of crypto, there are the many play-to-earn crypto games out there and there are also airdrops. These are events where, in return for a person signing up to a particular event or promotion, they get free cryptocurrency. However, quite a few airdrops are not all they seem, so you will have to be careful not to fall for a scam.

There's no such thing as a free crypto?

All these different ways of getting cryptocurrency without having to pay, ultimately, all require you to do something. Whether it is using your computer to mine coins, or watching adverts, or reading articles, or signing up to an exchange, or whatever it is it might be, you will still have to do something in return for your reward. It has been said that there is no such thing as a free lunch, and it seems that, ultimately, there is no such thing as free crypto, either.

When you keep in mind that there is always the likelihood that you can end up being a victim of a scam, you will need to do your own research and exercise due caution when it comes to looking at getting hold of cryptocurrency without having to pay for it.

FAQs

Can you earn free bitcoin?

You can, although it is not as simple as just getting BTC without having to pay for it. Usually, you will have to perform a task of some kind in return for doing so. You will also have to remember that there are scams out there, so be careful and try not to get too carried away by the prospect of getting hold of some free BTC.

How to earn free crypto

You can earn “free” crypto in a number of ways. For instance, you can set up your computer to take part in crypto mining, or you can stake crypto in return for rewards. You can sign up to a credit card which gives you crypto cashback, or you can sign up for other reward schemes. You can take part in an airdrop or go to a crypto faucet. Whatever you do, though, be careful. The price of cryptocurrency can be incredibly volatile so, in real terms, you may not get as much money as you might have expected to. You will also need to be wary of scams, and make sure you take the right precautions.

Is free crypto legit?

It can be. That said, there are plenty of scams which can leave you out of pocket or stuck with a computer or mobile phone full of malware. You will need to carry out your own research into “free” crypto opportunities and remember that, if something sounds like it is too good to be true, then it almost certainly is. Remember, too, that you will be expected to do something in order to get hold of your cryptocurrency. 

Further reading

The material provided on this website is for information purposes only and should not be regarded as investment research or investment advice. Any opinion that may be provided on this page is a subjective point of view of the author and does not constitute a recommendation by Currency Com or its partners. We do not make any endorsements or warranty on the accuracy or completeness of the information that is provided on this page. By relying on the information on this page, you acknowledge that you are acting knowingly and independently and that you accept all the risks involved.
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