Cryptocurrency is everywhere lately. Open your favorite tech or finance website, and its there. Watch the news, and its there. Speak to anyone, friends, family, co-workers and its there too. However, while such attention is great for the cryptocurrency industry, it inevitably means obtaining bitcoin and other digital currencies is becoming increasingly expensive.
The worlds of fintech and crypto are starting to merge, and one among the upsides of this overlapping is that every month seems to bring a replacement start-up offering some kind of credit or open-end credit that gives cashback rewards in crypto.
For example, crypto startup Fold was one of the first companies to offer a Visa debit card that rewards users with bitcoin for purchases they make at participating retailers. It was soon followed by the likes of crypto-exchange Gemini and lender BlockFi, which have since unrolled similar offerings. There’s even a mortgage which offers up to $3,100 cashback in bitcoin, having been launched in Canada by Mogo in March.
Gemini’s card offers holders the chance to earn up to 3% back in bitcoin and other cryptocurrencies, so while the rewards may not be life-changing, they will accumulate if you use the cards regularly.
While airdrops aren’t as common now as they were a few years ago, they offer a great way to receive new cryptocurrencies for free. Basically, an airdrop is when the developers of a new blockchain platform give away that platform’s native crypto, in order to boost adoption and create a community of users.
It’s hardly guaranteed that a new cryptocurrency you receive will end up becoming valuable, but with such relatively large cryptos as Stellar, NEM and Decred having undergone their own airdrops, a small minority of participants will get lucky.
Depending on which crypto-currency exchange you employ , you’ll enjoy being on the receiving end of a promotional giveaway. the foremost prominent example of this comes from Binance, the most important exchange within the world in terms of trading volume.
Binance regularly holds giveaways of 1 kind or another, mostly for its native BNB token. However, such giveaways usually entail signing up for something or completing a particular volume of trades, so you’ll certainly argue that they aren’t really free.
Coinbase, another one among the most important exchanges within the world, also organizes its own giveaway scheme. In its case, it provides small rewards in crypto for engaging with its educational platform.
If you’re an ingenious type together with your own blog or website, a method of earning free cryptocurrency is to make some quite donation page or facility on your site.
By posting the general public address for your Bitcoin wallet, and by posing for contributions, you’ll find that a number of your biggest admirers find yourself sending alittle amount of bitcoin your way. many charities now do that , as do many, many bloggers, journalists and researchers.
Sure, the free bitcoin or crypto is technically payment for your work, but you’ll not have received it otherwise, so you’ll pretend it’s free.
A growing number of cryptocurrencies — Tezos, Algorand, Icon — secure their network via a process referred to as staking. This involves users staking their coins so as to validate transactions, a process that these same users earn interest for his or her troubles.
Staking is about to become very big, since Ethereum goes to start staking later this year. Crypto-exchanges like Binance and Coinbase offer staking services for users, in order that they don’t need to deal directly with blockchains.