With the chance to earn a certain amount of money through cryptocurrency, you might be looking into simple ways to get some coins for yourself. This is totally understandable.
Yes, cryptocurrencies are often volatile but, they can provide much greater rewards than traditional investment ventures.
In April 2021, for example, Bitcoin reached a then-high of $64,863, and on November 10th, 2021, it topped that figure with a new all-time high of $68,950.
But remember: When Bitcoin first released in 2010, it cost roughly $0.0008 to purchase a single Bitcoin.
So while the prices of Bitcoin and many other cryptocurrencies have (almost) gone moonish, it’s still possible to get cryptocurrencies completely for free and we will show you how!
How to Cryptos actually work?
Well, the idea of cryptocurrency is actually rather simple.
Rather than a centralized form of physical currency, cryptocurrency is a digital peer-to-peer currency that is tracked through a public digital ledger. This public ledger is called a blockchain, and one of the most common ways to earn cryptocurrency is to mine the blockchain.
This mass running ledger is encrypted to secure user data and to secure the entire system.
Cryptocurrency can be used just like any other form of currency; it is simply housed digitally rather than being physically printed and minted. You also have the opportunity to invest in cryptocurrency through cryptocurrency exchanges, which are similar in some respects to stock exchanges.
Rather than storing, receiving, and transferring money through a traditional bank, however, digital wallets are used to make these digital transactions. These wallets secure cryptocurrencies, make online transactions streamlined, and even give you access to the public ledger.
Every cryptocurrency transaction made is added to the ledger queue. Before it makes it onto the public ledger, each transaction needs to be validated.
Miners use software to validate the transactions in sets, which are called blocks.
When a block of transactions is completed, miners work to validate the data as quickly as possible. The first miner to verify the data receives a cryptocurrency reward.
The verified block is then added to the public ledger, creating a chain of blocks that make up the ledger, which is where the term “blockchain” comes from.
The entire system is encrypted, and the transactions are validated when the encryption is solved by mining software.
Using a keyword, a string of numbers that only a specific keyword can produce (called a HASH), and a randomly generated number, advanced mining software works to validate all transactional data before any other user.
Before the rise of the cryptocurrency market, it was possible to mine from your home computer and earn a lot of cryptocurrency profitably.
As prices skyrocketed, more and more miners began competing for crypto, and more and more transactions began occurring all over the world.
Now, it would take years for a home computer to validate just one block of transactions. This has caused many miners to rely on expensive hardware as well as mining software through cloud-based applications.
That said, there are some cryptocurrencies you can mine without the use of expensive equipment, such as Scala.
How to get free Crypto without Mining?
If mining sounds too complex, we’re here to show you a few simple ways to get free cryptocurrency.
You don’t need to invest in an expensive crypto mining hardware setup. You really don’t need to be a cryptocurrency expert to get free cryptocurrency like this.
So here they are, our top ways to get free cryptocurrency without mining in 2022:
If you are not in a hurry to earn and you are looking for a long-term investment, then we definitely recommend you to join hi Dollars.
hi is incorporated in Singapore and the project started gaining traction earlier in 2021. It is co-founded by Stefan Rust, the former CEO of Bitcoin.com, and Sean Rach, who was the former Chief Marketing Officer (CMO) of Crypto.com. hi’s aim is to enable more people to access financial ecosystems at low/no costs to create immense economic opportunity for one and all.
What’s the value?
The token was launched at a price of 0.01 USD as an ERC-20 token on the Ethereum blockchain with future plans to migrate to hi’s own chain.
hi Dollars will allow members to access digital subscriptions, with exchange and crypto services including buy, sell and exchange coming soon. All future services can be found in hi’s whitepaper (PDF).
Prices and announcements can be found on hi.com and hi social media channels.
How to sign up?
Signing up is a very simple process and it takes only one minute. You do not need to install any software on your device. Just start a chat with hi on Telegram, the hi Web App or WhatsApp.
All you have to do is type ‘hi’ in the chat, and a menu will open up, which will allow you to select the action you want to take.
In the beta version of hi, you can earn free hi Dollars by referring people to the hi network and by answering daily fun questions such as, ‘Who is your favourite superhero?’ or ‘Do you prefer Apple or Samsung?’ It really can’t get easier than this!
hi makes it their utmost priority to keep your money safe. It uses blockchain technology to secure its database. Your fiat money will be securely stored with global banking partners, while crypto will be stored 100% in cold wallets. hi also utilizes bank-grade security protocols to keep the personal information of users safe.
The CryptoTab Browser is an internet browser that allows you to earn cryptocurrency by watching videos, visiting your favorite sites and chatting online.
It is like a normal browser but with a built-in mining function from which you can earn bitcoin and also a referral program that allows you to earn by inviting your friends to join the platform.
CryptoTab Browser is the world’s first browser, created specifically for mining bitcoins, it has a built-in mining algorithm, that allows users to earn bitcoins when web-surfing, watching movies or doing any other activity online.
How does CryptoTab Browser mining work?
The CryptoTab Browserser does not directly mine bitcoin, as mining bitcoin requires highly specialized equipment’s to mine. However, the CryptoTab Browser software mines Monero (XMR) privacy coins and converts them later to bitcoin at the current exchange rate.
XMR is only mined by using proof of work algorithm called CryptoNight. The mining of Monero is as such that it does not give specialized equipment and advantages in Mining, but it rather offers equal possibilities for all miners.
Its mining algorithm uses only the unused computer resources and does not interfere with the normal computer usage, in other words, it does not slow down the device.
How to earn?
There are mainly two ways to earn on CryptoTab Browser, these are:
The cryptotab browser has a built-in mining algorithm, that allows users to earn bitcoins when web-surfing, watching movies or doing any other activity online.
You also earn on CryptoTab Browser by inviting your friends to join CryptoTab, you do this by promoting CryptoTab on social media.
It offers up to 10 level earnings pyramid which means that the more affiliates you have, the higher commissions you get.
CryptoTab Referral Program
Another way to make money on CryptoTab Browser is by promoting the platform on social media and inviting your friends to join.
CryptoTab Browser offers a 10 level earnings pyramid which means that the more affiliates you have, the higher the commissions you get.
It works like this:
- If you invite Person A, you will get 15% in commission, and if Person A Invites Person B, you will get 10% in referral commission.
- If Person B Invites Person C, you will get 5% in referral commission, and if Person C Invites Person D, you will get 3% in referral commission.
- If Person D Invites Person E, you will get 2% in referral commission and if Person E Invites Person F, you will get 1% in referral commission.
- If Person F Invites Person G, you will get 0.5% in referral commission and if Person G invites Person H, you will get 0.25% in referral commission.
- If Person H Invites Person I, you will get 0.125% in referral commission, and if Person I invites J, you will get 0.0625% in referral commission.
You can surf the web with the Pro version with mining on mobile. Accelerated cloud mining allows you to earn way more on the same hardware.
To withdraw on CryptoTab Browser, you will need to have your own crypto wallet for bitcoins. The minimum withdrawal amount is 0.00041BTC i.e. you cannot withdraw until you reach or surpass this amount.
GoodDollar is an NGO which creates tools to distribute universal basic income (UBI) via their crypto coin called G$, by leveraging DeFi protocols on the Ethereum blockchain and Fuse.io sidechain. According to the Good Dollar website, there are currently 223,000 people in the community and 66M G$ tokens have been claimed by mid July 2021. As of July 16th 2021, each G$ token was worth ±$0.000224 rising from ±$0.000127 in November 2020.
The project is a noble and well supported one but currently doesn’t provide significant value to its users yet.
How does Good Dollar earn users coins?
Users can earn money by creating a GoodDollar wallet, signing up via their emails or social media accounts, and earn 50 tokens (about couple of $ cents as of December 2021) as a starting point. To sign up, users are required to create a video selfie showing their faces and identifying themselves. The wallet enables users to collect G$ by clicking a “claim” button each day on the website, which provides a number of coins based on the “Reserve Ratio”.
Reserve ratio is a number that reflects the ratio between crypto-assets locked in the GoodReserve (i.e. the staked coins) vs. the G$ out in circulation. The reserve ratio is expected to decline over time, minting more G$ coins relative to the crypto assets in the reserve.
The coin is not yet listed on any exchanges, however, users can exchange the earned tokens to Ethereum and DAI via the MetaMask crypto wallet.
What are the types of G$ users?
There are 2 types of Good Dollar users:
People who fund the G$ supply by staking their capital. They do not lose their principal and continue to receive interest provided by the G$ platform.
According to whitepaper, every G$ coin is collateralized in a supported cryptocurrency on a one-to-one ratio. For example, every 1 ETH, another decentralized cryptocurrency, moved into the reserve produces G$ coins in equal value.
People who receive G$ coins. These coins are part of the interest generated by the supporter’s staked capital.
After supporters’ interest is paid out, the remaining balance of G$ coins minted from interest is distributed equally on a daily basis as basic income to claimers. The payment is divided evenly between the number of claimers that issue a claim on a given day.
Does Good Dollar have legitimate use cases?
Currently, the coin is not accepted as a payment method by major businesses. However, people have used G$ tokens for buying and selling homemade birthday cakes, vegetables from personal gardens, used iPhones, tutoring or babysitting services, etc. in a study on 500 eToro employees in Israel.
Today, users can buy and sell goods or services on the Good Dollar marketplace.
But to be honest, we don’t think GoodDollars will make you rich.
While non-fungible tokens (NFTs) are not technically cryptocurrencies, they are crypto-adjacent, and people are making life-changing money with them.
Some NFT projects have invite bonuses in which the project’s creators will give away an NFT to the top five or ten people who invite the most people to the project’s Discord.
Now, if this all sounds like too much work for you, here’s an easy way to get a chance at free NFTs: Just search for NFT giveaway on Twitter, and you’ll see countless giveaway opportunities like the one below that generally require you to follow a certain Twitter account and retweet one of its tweets for a chance to win an NFT.
As with all things in cryptocurrency, be wary of scams — there are some Twitter accounts out there that claim to give away NFTs but are just lying for clout.
Oh and if you are already on Twitter and looking for NFT’s please take a couple of seconds and follow us. We really appreciate that.
Participate in Airdrops
An airdrop is a cryptocurrency giveaway that developers of a (typically) new cryptocurrency do in order to spread awareness about the new cryptocurrency itself, often as part of an initial coin offering (ICO).
Airdrops are kind of like free cheese samples at a supermarket — they give you a taste of their latest offer in the hope that you buy it and keep using it.
It’s the same thing with airdrops. The developers of a new coin are giving you a “sample” hoping that you might buy more of the coin itself and participate in its ecosystem.
Typically, in order to participate in an airdrop, you have to take some action, such as:
- joining the project’s Discord server or Telegram group
- following the project’s social media account
- sharing on social media about the project
It’s important to keep in mind that many airdrops are scams and even airdrops that are not scams may still be a waste of time, leaving you with a cryptocurrency that never takes off and is essentially worthless.
So before we move on to the next way to get free cryptocurrency, we want to remind you again: Many airdrops are considered as scams, and you should be doing significant research before participating in one. Always do your own research!
An initial coin offering (ICO) is the initial release of a new cryptocurrency.
You simply exchange some of your existing coins for the new coin at a set exchange rate.
An ICO works much like an initial public offering (IPO), but rather than owning stock, you’ll own new digital currency.
One of the draws of purchasing into an ICO is the opportunity to earn bonus coins through programs called bounties.
Bounties are similar to airdrops, but typically the tasks required to participate in a bounty are more challenging than the requirements for an airdrop.
For example, while to qualify for an airdrop, you may just have to retweet a tweet, a cryptocurrency bounty program may involve you completing tasks like:
- translating marketing material about the ICO into a different language
- making a video about the ICO
- writing a blog post about the ICO
As with airdrops, we always advise that you thoroughly research any ICO or bounty program before buying in or participating in it.
Cryptocurrency faucets are similar to rewards sites like FreeCash.
But believe it or not, some of these sites used to give visitors as much as five Bitcoin simply for completing a captcha! Of course, back then, five Bitcoin was about as much worth as the dirt under your fingernails.
Today, faucets don’t pay nearly as well, but the basic idea is the same: In exchange for performing easy tasks on the faucet’s website, you are given free cryptocurrency.
Examples of faucet activities include:
- playing games
- watching videos
- clicking on ads
That said, since you have to give up your cryptocurrency wallet address in order to receive your cryptocurrency from faucets, they are a breeding ground for crypto scammers.
On the other hand, while the earnings are minimal, faucets are a simple way to get free cryptocurrency without having any upfront investments.
Similar to gift card rewards sites, however, you have to keep an eye on the minimum redemption amount; some cryptocurrency faucets set the minimum crypto redemption amount so high that it would take you a very long time to reach it, which would make the entire faucet a waste of time.
Below we provide you with links for two legit cryptofaucets to play around with:
Probably the most popular cryptocurrency faucet today is Cointiply, which pays out in Bitcoin, Dogecoin, Litecoin, and Dash.
One unique thing about Cointiply is that it allows you to earn interest on the cryptocurrency you earn on the platform once you reach at least 35,000 coins (not literally Bitcoins — “coins” are just the name of the Cointiply in-platform currency).
One annoying thing about Cointiply are its unique captcha puzzles that can take a while to load. I suppose this kind of goes with the territory, given how prone cryptocurrency faucets are to bot manipulation.
Also, don’t be deceived by the high point values you’ll receive for Cointiply activities — 10,000 points is worth $1 worth of Bitcoin, so each point is literally worth $0.0001.
Another example of a cryptocurrency faucet is Bituro.
And again, the earnings aren’t that great for this cryptocurrency faucet either.
For example, if you take a 1-minute survey in Bituro, you will earn 10 points. But how much are these 10 points worth? Well, if you have a Coinbase wallet, once you have 1,000 points, you can redeem your points for $1 worth of Bitcoin.
Based on that, each Bituro coin is worth $0.001, or 1/10 of a penny each. So 10 points is worth $0.01, or a penny. I don’t think spending a minute of my time to make a penny is worth it (that would come out to $0.60 per hour), even if it is paid in Bitcoin.
Like I mentioned previously, if you have a Coinbase wallet, you can redeem for a dollar’s worth of Bitcoin once you have 1,000 points. Otherwise, you can’t redeem until you have earned 50,000 points’ worth (i.e $50) of Bitcoin.
We want you to succeed in all of your financial endeavors, and we’ve seen cryptocurrency make a positive impact in financial markets.
You don’t need to invest in expensive mining software in order to break into the cryptocurrency market. And with so many free ways to earn cryptocurrency, now is a great time to jump in.
Do you have any experience trading and exchanging cryptocurrency, or do you have any other ways to earn free cryptocurrency without mining? Let us know in the comments below ans be sure to read the following related articles:
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