Here are 3 ways to earn cryptocurrencies without investing any funds

Cryptocurrencies have become a part of our everyday lives, a significant part of the global financial landscape, and a concept that has become too big to ignore. 

Although there’s a widely held assumption that only people with a lot of money can earn profits from crypto, it has been proven repeatedly that you can make money from cryptocurrencies with no capital at all if you have access to the right information and network.  

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In this article, we have listed and discussed ways you can earn free cryptocurrencies without having to invest your own money.

Airdrop

Crypto Airdrops are distributions of cryptocurrency tokens or assets by cryptocurrency businesses and projects to people that have carried out a particular activity or have gone through a certain process. 

It is often a marketing strategy that involves new cryptocurrencies sent to the wallets of active members of a blockchain community for free or in return for a small service. For instance, retweeting a post sent by the company issuing the currency can help you earn. The ultimate aim is to spread awareness about the cryptocurrency project and to get more people trading in it when it lists on an exchange. 

A prominent example of a recent airdrop was the Aptos project of October 2022 where early interactors on the blockchain got rewarded with tokens worth thousands of dollars at that point. Also, last week, the Arbitrum network announced that it will be airdropping its long-awaited native token, ARB, to early network users on March 23.

You can already check your eligibility here.

Blockchain projects often publicly communicate airdrops and other promotions on the company’s website, social media, and cryptocurrency forums. You can keep track of upcoming airdrops on Coinmarketcap here.

However, it is advisable to create new wallets specifically for airdrops to prevent malware and phishing scams. After receiving the airdropped tokens, you can then transfer the tokens to your main wallets. 

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Referral

This is a form of affiliate marketing that crypto companies do, and it’s one of the best ways to make passive income from crypto.

A referral program is a marketing strategy that rewards customers who recommend a brand’s products or services to their network. Crypto companies use this type of program as a part of their customer retention and acquisition strategy to drive more traffic. 

In practical terms, users of Binance and other prominent crypto exchanges can refer friends and family to the platforms, and they would earn free cryptocurrency in return. To get started on Binance, you have to register on the exchange and generate a link or a scannable QR code. Go to “Account,” then click on “My referral ID” then invite as many people as you want and start getting 20-40% of your referral’s trading fees.

Bug bounties

Crypto bug bounties are primarily for those that are tech-inclined and enjoy pulling protocols apart line by line. Bug bounties are often offered by cryptocurrency businesses such as protocols, exchanges, and wallet operators with the hope that security vulnerabilities will be identified and reported to the owner of software before they can be exploited by bad actors. 

The rewards are usually in the form of cryptocurrencies and can range from a few hundred dollars to tens of thousands of dollars, depending on the severity of the vulnerability identified. 

This has proven to be a great way to prove your skills and make a living. Some hackers make significant sums of money identifying bugs. Guido Vranken, a Dutch researcher, identified 12 bugs on the EOS blockchain and received $120,000 in return.

Some of the prominent platforms offering crypto bug bounties at the moment are Paxful, Ethereum, Coinbase, Kraken, Immunefi, and others.

Lastly 

There are several risks to be aware of when earning free cryptocurrencies, including security risks, scams and fraud. It’s important to do your research and approach these methods with caution.

This content is for informational purposes only and should not be construed as investment, tax or legal advice. It is strongly recommended that every recipient seek appropriate independent professional advice before acting on any information contained herein, as Technext provides no endorsement, opinion or advice, including investment, tax or legal, and makes no representation or warranty about the suitability of a product for a particular reader or circumstance.