There’s a lot of discussion about Cryptocurrencies and crypto in general since their big boom of 2017.
With that in mind, there are also a lot of people wondering about investing in crypto, but their countries don’t allow them to buy them with FIAT (read, regular money) and / or they are just too afraid to jump in with cash money, so they are aiming to get their crypto free or just by working or holding.
This is the reason I’m writing this article.
To tell you the truth, I was in this same boat at first, and I earned a lot of crypto (close to 5K USD worth of tokens) from the places I’m going to tell you about.
Note that I worked a lot, so I didn’t spend money but I did spend time, and a lot of it, but it was worth it since now I have a pretty solid Crypto portfolio and didn’t invest at all.
How to Earn Free Cryptocurrencies?
There are three main ways to earn cryptocurrencies:
· Rewards for Holding (aka Hodling or HODL)
· Rewards for Work!
The airdrop consists of getting free tokens because you already have a token, mostly Ethereum, but since this implies you’re going to have to possess crypto before you get more I’m going to take this variable out of the equation.
If you had crypto to start with, then airdrops are cool, but if you’re still getting in then they aren’t going to work for you.
On the other hand, earning rewards from working, by referring people, by finding the right projects and all of that will take you a long way to solidify your crypto positions without risking your hard-earned money.
Cryptos That Pay You to Hold:
Cryptos are usually volatile, but some tokens have invented a way for people to sell less, and that is by paying them in tokens to keep their wallets filled.
There are currently a lot of cryptocurrencies that pay you to hold, but I’m going to mention the best ones:
If you have any of these tokens, you’ll get paid in crypto just by having them… but how do you earn them in the first place?
Well, both STEEM and SMARTCASH give you an easy way to earn them by working, and you can convert them to NEO to get GAS as well.
Here’s how it works:
In STEEMit’s platform you can blog, share photos, share memes or publish to your taste and the audience votes on your content.
You get rewarded with crypto depending on how well your content is voted. After 6 days, your post’s voting round ends and you can claim all of the earnings and convert them to whatever crypto you want, keep it in STEEM and collect the free tokens you get for having those, as well as use them to increase your voting power, or even cash them out.
On Smartcash, you can mine to get the tokens, you can write about Smartcash on STEEMit to get Smartcash rewards, you can even offer your services to the developers in exchange for tokens and if you manage to get 1000 or more Smartcash tokens you even collect passive income (a share of all of the miners’ revenue).
You can cash out this income, as well as convert it to any other token or keep it in the wallet generating income by doing so.
As far as NEO is concerned, it produces GAS, and you can get it by earning the other 2 and converting them to NEO through any exchange like bittrex, binance, etc…
Why Should You Hold Crypto?
So, you have a lot of incentives to holding (hodling) crypto right now.
The biggest one, however, has to do with the price. We are currently in a bear market and cryptos are low again. This is good for people to buy, but bad for people to sell obviously.
So, having that in mind, you should hold on to your cryptocurrencies and wait for a bull market to come, so tokens will appreciate in value and you can get more bang for your buck when cashing out.
Not only that, the time you spend waiting for the prices to rise is well spent since the cryptos we mentioned will be in your wallet generating passive income.
How cool is that?
What Are the Cryptocurrencies You Can Earn?
You can earn all of the cryptos that are PoW based, or Proof of Work, since those are the ones that allow miners to mine them.
If your GPU or CPU is good, you can mine a few, but the income will be really low, especially if you consider energy expenditure.
On the other hand, there are a lot of tokens that allow you to earn them, and those we mentioned on the other paragraph are the ones you can get a huge amount starting from nothing (I got my first $1000 worth of STEEM in less than one month thanks to my blogging background).
On the other hand, if you already have some cryptos from the list above, you should definitely get some Ethereum since that currency is the one that allows you to earn more tokens by far.
Participating in ICOs, Airdrops and getting Airdropped ERC20 tokens is another way to increase your crypto portfolio by a lot, so you should definitely check that out.
I hope you now know a little bit more on how to earn crypto for free in a legitimate way, and that you are willing to put in the time and hours required to get a meaningful amount. There’s no better opportunity to start than now when the tokens are low, so get your work hat on and start doing it!