How to earn cryptocurrency without investment: 7 Ways
There are several ways to earn cryptocurrency without investing your own money. Here are the seven most popular ways: how to earn cryptocurrency without investment.
- Airdrops
- Social Networks [Crypto]
- Lending Platforms
- Staking Crypto
- Crypto Faucets
- Crypto Bots in Telegram
- Referral Programs
Airdrops
An airdrop is when a project gives away its tokens for doing easy tasks. These tasks can include following the project on social media, using its blockchain, sharing its posts, and similar activities.
So, why do projects give away money?
Companies use crypto airdrops as a way to market their project. Users get tokens or coins and, in return, share information about the project on social media.
For example, the Uniswap project gave 400 UNI to each user who made at least one transaction on the platform. At the giveaway time, these tokens were worth about $1,300. If you got these tokens and sold them a year later, you could make around $11,000 from just one transaction.
Of course, there are also examples of unsuccessful project launches, and there are many scams. However, with careful project analysis, you can find truly valuable crypto.
Earn cryptocurrency without investment using several types of Airdrops
Let’s talk in more detail about airdrops and how to start making them. There are several types of airdrops. Let’s look at the four most important ones:
1. Standard Airdrops:
Users receive cryptocurrency for free for completing simple tasks such as subscribing to the project’s social networks, sharing information about the project, or registering on the site.
2. Holder Airdrops:
These are given among holders of a specific cryptocurrency.
3. Hard Fork Airdrops:
They occur when the network’s blockchain is split into two, and new tokens are distributed to holders of the original cryptocurrency. An example of such an airdrop is the split of the Bitcoin network and the emergence of Bitcoin Cash.
4. Bounty Airdrops:
Rewards are provided for completing certain tasks such as creating content (articles and videos), active participation in discussions on forums, promoting the project on social networks, and so on. In this airdrop, projects often require that you already have some kind of audience on social networks. Therefore, it is more difficult to start engaging in these drops, but as a rule, you will receive more money for such activity.
Almost all users can participate as long as there are no restrictions for residents of certain countries and requirements to check KYC verification.
How do the Airdrops Work?
The project team decides what type of distribution to use and what conditions must be met. There are required conditions for participation and additional ones that allow you to get more cryptocurrency. Project websites or platforms describe in detail what needs to be done to receive cryptocurrency.
How to Start Participating in Airdrops?
The first thing is to create crypto wallets. There are two types: cold and hot. Cold wallets store cryptocurrency offline, which provides a high level of security. Hot wallets are connected to the internet and provide quick access to crypto.
To participate in airdrops, it is usually more convenient to use hot wallets as they provide easy access and interaction with cryptocurrency airdrops. However, after receiving airdrops, you can move crypto to a cold wallet for long-term storage and increased security.
Have you already created crypto wallets?
Before participating in airdrops, always check that the wallet you choose supports the desired tokens and provides the necessary functionality to receive and store airdrops. The two most popular wallets are:
- MetaMask
- Trust Wallet
MetaMask is one of the most popular wallets supporting many tokens based on Ethereum and other blockchains, convenient for use in the browser on mobile devices.
Trust Wallet is a multi-functional mobile wallet that supports many different cryptocurrencies, suitable for storing and receiving airdrops. However, there are no clear restrictions; you can choose any other wallet you want.
Social Networks
The second point is the creation of social networks. You will need active social media pages with real followers. I recommend creating separate pages for this purpose so as not to dilute your accounts and maintain their privacy if you do not want to advertise your activities. Grow these pages. The more friends and subscribers you have, the more you can earn from airdrops.
So that’s all. Then you look for projects, complete tasks, and wait for tokens to be awarded. You might have a question:
Where to look for these projects?
Reading Magazines and Telegram Channels About Cryptocurrency
To find similar magazines and Telegram channels, just enter a search request into Google or YouTube.
Special Search Services Such as CoinMarketCap Airdrops and Airdrops Tab
On these services, you can find out about the project, investors, when the drop is expected, and other details.
Airdrops are a great opportunity to earn cryptocurrency without investment, but this method is also linked with risks. Not every project ends up giving away drops. You can spend a huge amount of time and in the end, get nothing or very little. Therefore, before entering the project, it is important to find out where the drop is planned and what part of the project money will be given to users.
Lending Platforms
Explore lending platforms where you can lend out your crypto [Airdrops] and earn interest. Crypto lending is a financial transaction where one party lends cryptocurrency to another party in exchange for compensation. It’s similar to traditional lending, but instead of banks, crypto lending platforms facilitate these transactions. This is the best way to earn cryptocurrency without investment.
To get started with crypto lending, follow these steps:
Research Platforms: Explore reputable crypto lending platforms like Arch, Nexo, YouHodler, Binance, Aave, and Compound. Compare their interest rates, supported cryptocurrencies, and security features.
Sign Up: Create an account on your chosen platform. Provide necessary information and complete any required identity verification.
Deposit Crypto: Transfer your crypto assets (such as Bitcoin, Ethereum, or stablecoins) to your lending account. Make sure you understand the collateral requirements and loan-to-value (LTV) ratios.
Choose Lending Terms: Decide whether you want to lend short-term or long-term. Some platforms offer flexible terms, while others have fixed periods.
Lend Your Crypto: Select the amount of crypto you want to lend and choose the lending option. You’ll start earning interest immediately.
Monitor Your Investment: Keep an eye on your earnings, interest rates, and any changes in the crypto market. You can reinvest or withdraw your earnings as needed.
Remember that crypto lending involves risks, including market volatility and platform security. Do thorough research and start with a small investment to test the waters.
Staking Crypto
Staking is a process where individuals lock their cryptocurrency to support the security and operation of a blockchain network. When you stake your coins, you’re essentially contributing to the network’s stability and validating transactions on the blockchain. Here’s how it works:
- Proof of Stake (PoS): Many cryptocurrencies use a consensus mechanism called Proof of Stake. Unlike Proof of Work (used by Bitcoin), which involves miners solving complex math problems, PoS doesn’t require energy-intensive computations. Instead, transactions are validated by people who stake their tokens. These stakers are rewarded for their participation.
- Securing the Chain: When you stake your crypto, you’re helping secure the blockchain. Your holdings become part of the consensus process, ensuring that all transactions are verified and secured without the need for a central authority like a bank or payment processor.
- Earning Rewards: As a staker, you earn rewards over time. These rewards can be additional cryptocurrency tokens. The more you stake, the greater your potential rewards.
Remember that staking involves risks, including market fluctuations and potential loss of staked assets. Always research and choose reputable platforms for staking.
Crypto Faucets
These are websites or apps that provide small amounts of cryptocurrency in exchange for completing tasks like CAPTCHA puzzles or watching ads. Examples include Moon Litecoin, which offers free Litecoin (LTC) to users who complete tasks. This is also the best way to earn cryptocurrency without investment.
Crypto Bots in Telegram
The third way to earn cryptocurrency without investment is Crypto Bots in the Telegram App. I think you have already heard about them: Hamster Combat, Coin Tap Swap, and others are very popular in the world.
Crypto clickers are games but in Telegram where the main gameplay consists of repeatedly clicking on the screen to perform various actions. The main goal of the player is to increase the number of clicks to achieve certain goals such as collecting resources, improving characters, or gaining maximum points.
Many players also tap to earn money. The popularity of crypto clickers increased after Coin Tap Swap, a bot with which many participants earned from $100 to $11,000, and some even earned tens of thousands of dollars for simply clicking on the screen. The way to earn money is very simple: you just click on the screen, develop your account, and after listing the project, sell coins for real money.
Referral Programs
Many crypto exchanges and wallets offer referral programs. You can earn rewards by inviting friends and family to join their platform. Referral programs are a fantastic way to earn passive income by promoting cryptocurrency-related services or products. Whether you’re an influencer or blogger, these programs offer enticing commissions for your efforts.
How Much Money Can You Make from These Projects?
You can earn as much as you like. You don’t need to invest money or have special skills to join these projects. If you finish all the tasks and bring new members, you could make $1,000 or more. So these are the 3 ways to earn cryptocurrency without investment.
