Crypto is a big hype these days and alot of people want to get their hands on some of these digital currencies. But what do you do if you do not have any expendable money to invest? Don’t worry, we got you covered. Here are 5 simple ways you can earn cryptocurrencies without investing any money.
AMA Crypto Rewards
Some telegram groups host “Ask Me Anything”, short AMA discussions for crypto projects. This allows the group admins to ask questions that they want to know and usually they’ll give their community an opportunity to ask questions as well. One Telegram group, SPECTRE, gives out free crypto to those who ask questions in the AMA.
Most of the time to earn these prizes questions are selected by the project doing the AMA. To participate in these, you need to join the Telegramapp and find the Telegram channel which the chat is taking place.
Getting a job in Crypto
There are many different ways to get employed in the crypto industry. And you don’t need to be a computer wizard or have any coding abilities. Some companies simply need people to run posts on social media and answer questions in Telegram groups or write articles for crypto blogs. Often these Jobs will pay their employees in crypto. So, it’s a great side hustle for someone looking to get more crypto. One website that offers a variety of different kinds of jobs in the crypto industry: Cryptocurrencyjobs.co
Crypto micro tasks
Some websites like btcmanager.com allow users to run micro tasks like watching videos or completing surveys and compensate them in Bitcoin. While these tasks are often tedious, it’s a good way to pile up some extra assets if you have the patience.
The crypto exchange Coinbase also allows you to receive rewards for watching videos on various cryptocurrencies. It is a good way to educate yourself on cryptocurrencies and blockchain companies while earning tokens. You can earn Coinbase rewards here.
Staking and Yield Farming
For those of you who already own cryptocurrencies you can look into staking and yield farming your cryptocurrencies. While in staking you receive rewards for providing liquidity and helping to secure the network, you can use yield farming to receive interest on your cryptocurrencies. Various platforms allow you to stake your crypto, such as Binance, Coinbase and Pancakeswap. The yields that you can receive on your crypto can be quite substantial, sometimes several 100%, however, it comes at the risk of price volatility which can be substantial as well.
Airdrops are occurrences that happen often in very volatile and scammy crypto projects. Therefore, we do not recommend it unless you do your own due diligence. Airdrops are distributions of a certain cryptocurrency to certain wallets. Airdrop are considered a marketing stunt or an incentive for the communities around a cryptocurrency. For example, some projects reward their investors for holding a certain amount of their currency by giving them a pre-scheduled airdrop in the form of more tokens. This will lead to more investors holding on to their tokens as they do not want to miss out on the airdrop which is free tokens.
There are many different ways to earn supplemental crypto and these are just a few. If you are creative, you will be able to find a number of various ways to slowly build up your crypto bank. The more capital you have, the more opportunities arise. For example, someone can’t earn passive income running a crypto node if they don’t have a large amount of capital. But there are other ways such as day trading and arbitrage opportunities which doesn’t necessarily require a large sum of capital. However arbitrage and day trading are advanced practices which require study and persistence to learn how to navigate.
Always be careful of scams in crypto. Whenever anyone asks that you send them tokens to their address to receive tokens, it’s a scam. Many times people who are offering crypto giveaways are only trying to scam people. Make sure to be very cautious when looking into ways to earn crypto prizes.
Aaron is passionate about blockchain and has been an investor in cryptocurrencies for the past years. He enjoys engaging with other people in the cryptocurrency community online, particularly on Telegram, and learning from experts.