If you’re someone looking to earn some extra bucks and diversify your income streams, crypto is the way to go! Earning crypto tokens is not as complicated as you may wonder, and there are some popular gateways to it- you don’t always have to rely on trading strategies. Crypto airdrops, referral programs, and staking are some of the prominent methods available today to earn free money in crypto. Let’s explore this subject further as we present a host of other options as well in this blog!
Is it possible to earn free crypto money?
The answer to the above question is a definite yes! There are several ways to earn free money in crypto. In this section, we will go through each one of them in detail:
Crypto airdrops:
Blockchain projects use an effective strategy called crypto airdrops to promote their projects and crypto tokens or reward loyal users and existing community members. The strategy involves sending a few tokens or coins to the wallets of selected users who fulfill particular crypto airdrop conditions.
These conditions could involve doing specific tasks, pre-holding the tokens, or even meeting the expected levels of influence or expertise.
A few prominent examples of crypto airdrops include:
- $ARB airdrop: The Arbitrum Foundation conducted an airdrop for the $ARB token in 2023. The tokens, launched on the Arbitrum One chain, were distributed to recipients who fulfilled a points system specially designed for early adopters. It headed the list of the biggest crypto airdrops of 2023 by distributing $ARB worth $1.97 billion.
- $INJ airdrop: The Injective ecosystem is currently conducting airdrops of its native $INJ token for its existing community members. The members will be able to take part in the ecosystem’s governance initiatives and help the blockchain project grow.
- $SOL airdrop: Solana, a blockchain platform, regularly conducts airdrops for tokens of multiple projects running on its network.
- $ARKM airdrop: In 2023, recipients who qualified for various criteria received $ARKM tokens from the Arkham platform.
- $UNI airdrop: Uniswap conducted the biggest airdrop in the crypto sector in 2020. $UNI tokens worth $6.43 billion were distributed to recipients.
Notably, Millionero will launch our very own MIL tokens soon, and we will do a celebratory airdrop for the most active users, so stay tuned!
Ambassador programs
Crypto firms, including blockchain platforms and exchanges, create ambassador programs to build a community of enthusiasts and marketers who help drive their brand’s image and awareness. At the same time, ambassador programs also help increase crypto adoption.
The Moonbeam network, for example, runs a popular ambassador program to promote the Polkadot ecosystem. The members of such ambassador programs are rewarded with crypto tokens, which can eventually be converted to fiat money. Thus, ambassador programs are also helpful in earning free money in crypto!
Whitelists
A crypto whitelist includes specific investors or community members of a project who can participate in special events. It is a measure to filter participants of these events or even reward loyal members for their past work or contribution to the project. They get special access to initial coin offerings (ICOs), token distributions, NFT sales, and other exclusive events.
Being on crypto whitelists is highly beneficial when a project has limited tokens as rewards. Those who get this special preference to avail the rewards become the recipients of the tokens. Hence, joining crypto whitelists is a productive manner of earning free money in crypto.
Bounties / P2E programs
Crypto bounty or play-to-earn (P2E) programs are also prominent ways of earning free crypto money. Crypto bounties are usually provided to those who take up tasks assigned by projects and firms. These tasks could entail marketing the blockchain project or firm on social media through reposts, tweets, or even creating memes or promotional videos. Those completing these tasks are rewarded with bounties as tokens or coins.
Meanwhile, P2E programs are usually conducted by blockchain technology-based games. These games reward their players with tokens or digital assets based on performance. Further, these tokens and assets can be converted into fiat money.
Earning free money in crypto doesn’t seem hard, does it?
Crypto staking
Crypto staking is a much sought-after method for earning free money in crypto. Staking crypto means locking some of your crypto tokens on a blockchain platform. In return, you receive a percentage of the staked crypto as a reward. These rewards are also in the form of tokens, which can be exchanged for fiat currency.
Staking crypto tokens is also a way to participate in proof-of-stake blockchains like Ethereum. In Ethereum, you can stake your ETH tokens and validate transactions on the network. The network rewards you with ETH tokens for this!
Referral programs
Referral programs in crypto work similarly to those in other industries. Crypto firms run referral programs that reward users who bring new users through referrals. It is a very common method of earning free money in crypto exchanges.
The Millionero referral program is among the most attractive in the crypto sector. The exchange aims to maximize your earnings through the program. How does that happen?
If someone uses your referral code to sign up on Millionero, you get to access 20% of your referrals’ trading fees. Once they start referring more people, you can literally earn up to 55% of your referrals’ fees! In other words, it’s a guaranteed way of earning free crypto money.
Learn and earn
At times, the crypto space can seem complicated to understand, with several technical terms, upcoming projects, and a host of tokens and coins. Therefore, various industry firms have active programs that educate those who want to learn about the industry.
You can start earning crypto tokens as you enroll in these programs and start learning! Most crypto firms and exchanges benefit from these programs as they encourage the joiners to use their platforms. In turn, the participants learn about the sector and earn crypto tokens along the way! These tokens can be converted into fiat money, thus making it a pretty straightforward way of earning free money in crypto.
Crypto lending
Crypto lending is precisely what the name suggests. You can lend your crypto holdings to borrowers and earn interest. As a crypto lender, you can earn regular interest income like that from traditional fixed-income assets. Crypto lending platforms that facilitate transactions between both parties could be either centralized or decentralized.
Moreover, decentralized blockchain lending protocols enable crypto loans through smart contracts. The interest income from lending crypto could be in the form of tokens and coins, which can later be exchanged for fiat money.
Crypto credit cards
Crypto credit cards are unique since they can be linked to your crypto exchange wallets. These cards can be used to avail credit lines in fiat currencies like traditional ones. But the rewards from these cards could be in the form of tokens and coins!
Crypto exchanges and banks usually partner together to issue such cards. They can also be used for regular purchases. At the same time, payments for your bills could be made from your crypto wallet holdings.
Some cards also enable you to choose your preferred reward tokens. You can redeem these tokens for fiat money at any time and earn free crypto money.
Crypto faucets
Developers widely use crypto faucets to avail testnet tokens, which help deploy and test smart contracts on blockchain platforms. Meanwhile, blockchain projects use crypto faucets as a means to generate feedback, improve mechanisms, and analyze consumption patterns. Participants in crypto faucets complete simple tasks in return for crypto tokens as rewards. However, the faucet tokens that are distributed cannot be sold since these are dummy assets.
Years ago, developer Gavin Andresen created a Bitcoin faucet, distributing small amounts of BTC to those who completed captchas. This became an important step in expanding the crypto community worldwide and rewarding participants. Imagine the people who were rewarded with BTC, then. They would likely be millionaires now if they didn’t sell their holdings!
As we have learned, there are numerous ways of earning free money from crypto. So what are you waiting for? Go ahead and earn some extra money through the above methods!
Millionero is a fast-growing crypto exchange that will help you start trading crypto seamlessly! Join us today, and take a look at our blog for the latest news updates and articles related to the crypto space!
Disclaimer: Cryptocurrencies are an inherently volatile asset class, and investments can carry substantial risks. This information is for educational purposes only and should not be construed as financial advice. Always do your own research and conduct due diligence before investing in crypto projects.