The Top 5 Ways of Getting Free Cryptocurrencies
Updated: Feb 16
1. Crypto Mining Using Your Computer
Did you know that it’s still possible to use your computer to mine crypto? Well, it may no longer be possible to mine Bitcoin with your ordinary PC, it is still possible to mine smaller altcoins.
The easiest way to start mining will be to join a mining pool, which is where there are hundreds or even thousands of people who collectively share their computational resources to efficiently mine a coin. In return, they receive a share of the profits. One of the largest and easiest to join mining pool is MinerGate. Simply create an account using this link and download their mining software. Once everything is set up, you’ll have the option to choose what coin you would like to mine as well as setting the percentage of your computer’s CPU you would like to use for mining purposes.
2. Coin Faucets
Coin faucets are websites or apps that reward you with crypto in exchange for small tasks that could include:
When Bitcoin was first introduced, some coin faucets were offering up to 5 bitcoins to carry out these miscellaneous tasks. Today those 5 bitcoins would be worth a whopping £40000.
The two of my favourite faucets are:
3. Trading Crypto
One of the most common ways people make money with crypto is through trading. Traders can take advantage of crypto’s high volatility in order to make a quick profit.
Back in early 2018, the total market cap of all the cryptos reached £640 billion, which means that anyone who traded or invested in crypto made some serious profit. At this time in 2020, there is still potential for another bull run which could surpass the previous one.
Get into crypto now whilst the prices are still low with the biggest exchange, Binance!
If you have previous experience of trading, you may want to consider using a trading platform like BitMex that will provide up to 100x Leverage.
Airdrops are basically a marketing strategy that involves sending free crypto into your wallet as a way to promote a coin/token. There's not much you have to do to receive the free coins. All that is required is to input your wallet address. However, there are some occasions where you may have to engage in a social post by the group promoting to coin in order to qualify for the airdrop. These could be small things such as retweeting their twitter post or providing a like.
Click here to find all the latest airdrops that are being run!
The idea behind staking is that someone can validate block transactions based on the number of coins they have in their possession. This concept is known as proof of stake (PoS). By confirming block transactions, stakeholders will receive coins. The more coins someone owns, the more blocks they will be able to validate thus the more coins they will be able to make.
In some ways, this is similar to earning money through annual interest in a traditional bank account. It turns out that in the crypto world, stakeholders can be earning much more especially if the value of the coin they own is increasing.
Best Proof of Stake Coins:
Annual Return: 7-9%
Staking Wallet: Binance
Annual Return: 6-7%
Staking Wallet: Binance
Annual Return: 7.5%
Staking Wallet: DASH wallet