Most investors will look to gain exposure to crypto by purchasing tokens via an online exchange.
However, there are a number of alternative ways to earn crypto – 10 of which this guide will explore today.
This includes everything from staking and faucets to airdrops and interest accounts.
Full Analysis of the Best Ways to Earn Crypto
Considering the current bear cycle never before has there been a better time to earn crypto.
After all, some of the most solid blockchain projects in this space are trading at huge discounts – which offers an attractive upside when the market eventually recovers.
In the sections below, we take a deep dive into the 10 best ways to earn crypto today to take advantage of bearish market conditions.
1. Crypto Games – Overall Best Way to Earn Free Crypto
One of the best ways to earn free crypto is by playing P2E games. In a nutshell, crypto games adopting a P2E – or play-to-earn model allow players to make money – simply by engaging with the gaming ecosystem in question. This means that in many cases, there is no requirement to risk any money.
Some of the best play-to-earn crypto games in this space offer an attractive economic system alongside immersive experiences. And, the better a player performs in the respective game, the higher the rewards on offer. P2E rewards are paid in the native crypto token of the project – which will typically trade on public exchanges.
This means that players can earn crypto via the P2E game and then cash the funds out for real-world money. One of the best P2E games in the making is Tamadoge – which is currently engaged in its presale launch. This project is building a P2E game where players will need to mint, train, and battle virtual pets.
As players progress through the game – which is also building metaverse and augmented reality experiences, crypto rewards will be earned in the form of TAMA tokens. Moreover, each virtual pet within the Tamadoge game is owned 100% by the player via an NFT. This NFT will be stored on top of the Ethereum blockchain and can be traded on open marketplaces.
Another benefit of playing the Tamadoge game is that its TAMA token is a small-cap digital asset at this moment in time. After all, the project won’t be listed on third-party exchanges until its presale campaign is over. This means that by buying an allocation of TAMA tokens early, alongside any in-game earnings, there is an attractive upside to target.
Those with an interest in this project can visit the Tamadoge website to access the presale. As of writing, more than $2.6 million has been raised. Once the presale surpasses $3.2 million, the price will increase from 80 TAMA to 66.67 TAMA for each USDT exchanged. The Tamadoge presale also accepts ETH.
Another up-and-coming NFT game that operates a P2E model is Battle Infinity. This project is building a variety of multiplayer games, albeit, fantasy sports will sit at the forefront of its gaming ecosystem. This will appeal to sports fans globally, whether that’s cricket, soccer, football, or basket.
The first stage of the fantasy sports concept at Battle Infinity is to pick a team of players from a specific sport. After each real-world game from the respective sports, each individual will earn points depending on how they performed. As the BattleInfinity player generates more points, this will convert into crypto tokens – paid in IBAT.
This strategic P2E game will also appeal to those that wish to earn crypto while dedicating limited amounts of time. The Battle Infinity ecosystem will also operate in a metaverse world, which the project calls the ‘Multiverse’. Players will also have the opportunity to earn in-game NFTs, which can be traded on the Battle Infinity platform.
Moreover, Battle Infinity will offer a staking tool that enables IBAT holders to earn interest on crypto. With that said, IBAT can also be traded at PancakeSwap, which will suit those that wish to cash their tokens out. Unlike Tamadoge, Battle Infinity has already completed its presale.
The presale – in just 24 days of a 90-day campaign, raised its hard cap total of 16,500 BNB. Based on prices as of writing, this converts into more than $5 million. Those wishing to obtain some IBAT tokens today while the project still carries a small market capitalization can do so by heading over to PancakeSwap.
2. Staking – Earn Interest on Idle Crypto Tokens
The next method to consider when learning how to earn free crypto is staking. This is a great option for those that already own crypto, not least because staking offers a passive way to generate income. Originally, staking required the user to lock their tokens into a blockchain protocol, which helps secure proof-of-stake networks.
This resulted in a modest amount of interest being earned by the user. However, there is now a wave of credible third-party platforms that can offer a much great amount of interest. At the forefront of this regulated exchange is Crypto.com. Put simply, the platform enables users to deposit funds into a staking pool for the purpose of generating an APY.
There are dozens of coins supported and the interest payable will depend on a variety of factors – such as the respective digital asset being staked. Users that are happy to lock their tokens away for one or three months will be offered the highest rate possible, while APYs on flexible plans are less competitive – but permit instant withdrawals at any time.
Crypto.com also offers higher interest rates for those that wish to stake CRO tokens – which are native to the exchange’s ecosystem. To offer some insight into the types of rates available, Bitcoin deposits can earn optimized rewards of up to 6% annually on a three-month term. Polygon, on the other hand, offers rewards of up to 14.50% annually.
Another benefit of staking at Crypto.com is that the platform offers an online and mobile exchange, so users can swap tokens with ease to take advantage of the best rates possible. Moreover, rewards are distributed on a weekly basis, which enables users to reinvest their tokens to benefit from compound interest.
Cryptoassets are highly volatile investment products. Your capital is at risk.
3. Competitions – Generate Crypto Rewards by Entering Competitions
Competitions are another great way to earn free crypto. We found that one of the best projects in this space is Lucky Block, which combines the benefits of competitions, crypto rewards, and NFTs. The competition model of Lucky Block – which is built on top of the blockchain, is as follows.
First, users will need to buy an NFT. This NFT will be related to a specific competition prize – such as $1 million worth of Bitcoin or VIP tickets to the FIFA world cup. As soon as the NFT is purchased, this offers entry into the respective competition. Not only that, but simply by holding the competition NFT, the user will earn free crypto rewards.
The user will continue earning rewards for as long as the NFT is held. Rewards are paid in LBLOCK – which is the native token of the Lucky Block ecosystem. LBLOCK currently trades on a variety of exchanges and there are two versions of the token. V1 and V2 operate on the Binance Smart Chain and Ethereum network respectively.
LBLOCK initially generated gains of over 60x for those that invested in the January 2022 presale. As per the current bear market, LBLOCK is trading at a much more attractive entry price – with a discount of 85% on offer when compared to its all-time high.
4. Interest Accounts – Deposit Funds Into a Crypto Interest Account
Another passive way to earn free crypto is by depositing tokens into an interest account. This operates like a conventional savings account, although instead of depositing cash, the user will be paid a fixed rate of interest on idle crypto assets. APYs will depend on the chosen provider, as will lock-up terms and payout periods.
One of the best ways to earn crypto in this manner is via the Aqru platform. This provider offers crypto interest accounts across a wide variety of tokens – including Bitcoin, Ethereum, and USDC. There are no lock-in periods on any of the supported tokens, which means that users are free to withdraw their funds at any given time.
Both Bitcoin and Ethereum yield 1% annually, while USDC pays 3%. USDC and ETH Maple pay a higher rate of interest at 7% and 5% respectively. Aqru distributes interest payments on a day-to-day basis and rewards can be tracked hourly. The Aqru mobile app for iOS and Android makes tracking rewards simple.
Another benefit of choosing Aqru to earn crypto is that the platform supports fiat money deposits via debit/credit cards and bank transfers. This will appeal to those that wish to benefit those that do not currently own any crypto, but still wish to take advantage of Aqru interest accounts.
5. Credit Card Cashback – Get Crypto Cashback on Real-World Purchases
The next option to consider when searching for ways to earn crypto is a specialist credit card that enables users to spend their digital assets in the real world. One of the best providers in this space is Crypto.com – which offers a variety of credit cards with multiple rewards to take advantage of.
The specific card available to users will depend on how many CRO tokens they are willing to stake – if at all. For example, by staking just $400, the Ruby Steel card offers 1% cash back – paid in CRO. By opting for the Royal Indigo or Jade Green card, a minimum of $4,000 in CRO staking is required and this yields 2% in cash back rewards.
This means that users can earn free crypto simply by using their card for everyday purchases. The Crypto.com card is backed by Visa, so it can be used online, in-store, and even at ATMs. Additional rewards – depending on the chosen card, include free monthly subscriptions to Spotify, Netflix, and Prime, as well as airport lounge access and Airbnb discounts.
Cryptoassets are highly volatile investment products. Your capital is at risk.
6. Crypto Loans – Get Additional Crypto by Using Tokens as Collateral
Those that are currently in possession of crypto might consider taking out a loan. In a nutshell, it is now possible to take out a crypto loan when depositing digital assets as collateral. As the loan is secured by the crypto deposit, there is no requirement for the borrower to go through a credit check.
Moreover, the loan will be paid as soon as the collateral is deposited. When it comes to the loan-to-value (LTV) of the loan, this will depend on the provider and oftentimes – the digital asset being used as collateral. Crypto.com, for example, offers loans at an LTV of 50%.
This means that by depositing $500 worth of Bitcoin, Ethereum, or any other supported digital asset, the borrower can obtain $250 in financing. In many ways, this is a great way to increase exposure to the crypto markets. After all, the crypto that is used as collateral will still remain the sole ownership of the borrower.
And, therefore, if the value of the crypto increases during the term of the loan, the borrower will still benefit from this. When taking out a crypto loan, just remember that the funds will need to be paid back. If the value of the collateral drops below a certain level, the loan provider might be forced to sell the digital assets to cover the shortfall.
Cryptoassets are highly volatile investment products. Your capital is at risk.
7. Crypto Faucets – Earn Free Crypto by Completing Tasks
The next option to consider when learning how to earn crypto is to join one of the best crypto faucet websites. In simple terms, a crypto faucet enables users to earn free tokens in return for completing basic tasks. This could, for example, require the user to complete captcha forms or perhaps fill out a survey.
Other tasks might include downloading a new mobile gaming app and testing it out, before leaving a review. Either way, the tasks available at crypto faucets are typically very basic and thus – can be completed by anyone. However, it is important to note that faucets pay a very small amount of crypto upon completing a task.
In fact, each talk will rarely yield more than a few cents worth of crypto. Nonetheless, this still offers a great opportunity for beginners to get their hands on crypto for the first time without needing to risk any money. Just be careful when choosing a suitable crypto faucet site, as there are many scams active in this space.
8. Crypto Marketplaces – Sell Unwanted Goods for Crypto
Another way to earn crypto without taking on too much risk is to sell unwanted goods via an online marketplace. There are a number of marketplaces active in this space that enable users to list goods for sale, and buyers subsequently pay for the transaction using crypto.
Once again, this will enable beginners to get their hands on crypto without needing to spend any money. In choosing a suitable marketplace, be sure to explore listing fees in addition to the reputation of the provider.
9. Mint an NFT – Create an NFT and Sell it on a Marketplace
NFTs are a high-growth area in the crypto and blockchain space. The best thing about NFTs is that anyone can create one from the comfort of home through a simple minting process. Each NFT that is minted is unique from the next and subsequently stored on the blockchain.
There are many reputable websites in this space that enable users to mint NFTs at the click of a few buttons. The only fee that users will need to pay is with respect to the blockchain transaction. After the NFT is minted, users can then consider listing it on an online marketplace like OpenSea or Crypto.com with the view of earning crypto.
10. Crypto Airdrops – Earn Free Crypto From New Blockchain Projects
The final option to consider when searching for ways to earn crypto is to look for upcoming airdrop campaigns. For those unaware, crypto airdrops are a way for newly launched blockchain projects to distribute free tokens. This is often done as a means to market the new project to the general public.
Users that wish to earn free crypto via an airdrop might be required to complete some basic tasks that will assist the project with its marketing goals. For example, there might be a requirement to share the project’s social media posts or fill out a survey with feedback on the whitepaper and roadmap targets.
Once the crypto airdrop is initiated by the project, the tokens will be transferred to the user’s wallet. As soon as the token in question is listed on a public exchange, this will enable the user to cash out. Oftentimes, the user will be able to sell their tokens for a major digital asset like BNB or ETH – depending on the underlying network of the project.
In summary, there are many ways for beginners to earn crypto in today’s market. While some require a small outlay of capital upfront, other methods are completely fee-free.
Overall, we found that crypto games offer the best way to earn crypto from the comfort of home. Up-and-coming projects like Tamadoge and Battle Infinity, for example, are building a play-to-earn ecosystem that rewards users for playing games.
Tamadoge is still at the start of its P2E journey and thus – its TAMA token can be purchased via a presale launch.
Battle Infinity is also a newly launched project, albeit, its IBAT token has completed its presale and is about to trade on PancakeSwap.
Is there a way to earn free crypto?
Yes, there are several ways to earn free crypto. One of the best options to consider is by playing a P2E (play to earn) crypto game. This enables the user to win free tokens simply for playing the game. When searching for the best play-to-earn crypto game, consider ecosystems that have a sustainable economic model.
What are the best methods to earn crypto?
Some of the most common ways to earn crypto include interest accounts, staking, and airdrops. Crypto faucets might be worth considering for first-times, but this offers a very small amount of tokens. Play-to-earn games are, perhaps, the best way to earn crypto – especially considering the success of Axie Infinity and Decentraland. Battle Infinity and Tamadoge are two up-and-coming P2E games worth keeping an eye on.