Profit from digital currencies: The 6 best ways to profit for free

Currently, you can take advantage of many of the benefits of cryptocurrency instead of getting points with a credit card or using US dollars.

If you’ve already added cryptocurrency to your portfolio, these options offer some extra coins on top of your initial investment, but you should understand exactly how they work before investing in them. You should also be prepared for the additional responsibilities that may be required to make a profit from free cryptocurrency, especially as tax season approaches.

But how can you earn cryptocurrencies at no cost?

1. Shopping Rewards

The Lolli extension offers rewards when you shop with its shopping partners on Chrome or Firefox. This extension works in the same way as other browser extensions like Rakuten or Honey that offer discounts and cash back when used to shop online.

Merchants on Lolli range from Nike to Sephora to a Malaysian airline. Cashback offers range from 1% to 30% of Bitcoin, depending on the seller and product. Your rewards will be credited to your Lolli account, and you can then transfer them to your digital wallet or any other account.

2. Cryptocurrency Credit Cards

A cryptocurrency credit card works the same way as other credit cards, but instead of make money Or points with each operation, you will get a digital currency.

Gemini and other platforms have announced plans to issue credit cards specifically for crypto rewards, along with fintech companies like BlockFi and Upgrade. The rewards categories on these cards are similar to many traditional credit cards. For example, the BlockFi credit card offers a flat 1.5% in bitcoin on every purchase, after which you earn another 3.5% back in the first 90 days after opening the account.

Find out about the bonuses offered for registration and referral on cryptocurrency platforms.

Some cryptocurrency exchanges offer sign-up or referral bonuses to users. For example, Coinbase used to offer a $5 sign-up bonus and now offers $10 to you and your referral when they create an account and trade $100 or more on their platform. Other exchanges like OKEx offer the same service.

Be sure to pay attention to the terms of these incentives. You may be asked to provide more personal information or take other actions to receive these incentives. These offers are usually not enough to attract players who already have accounts, but if you are a beginner, it is worth monitoring the platforms you intend to join to see if they offer services such as incentives or referrals to friends who might be interested.

4. Coinbase Earn Service

The popular trading platform offers Coinbase Incentives for using their learning center. To get free coins, you have to watch Coinbase videos, pass tests, and then you will get a small amount of cryptocurrency in your wallet. The content usually focuses on a specific altcoin like GRT and BOND.

You can convert these less popular coins into Bitcoin or Ethereum once you earn them. You will need to have a funded Coinbase account, live in an eligible country, and verify all your personal details to get started. Profit Through Coinbase Earn.

5. Earn interest on your Bitcoin

Some cryptocurrency exchanges allow you to earn interest on the cryptocurrencies you hold. For example, Gemini Earn and OKEx offer lending programs that allow you to lend your coins to borrowers and earn up to 7.4% APY.

You can also earn interest by participating in token validations, where cryptocurrencies are left in your wallet to earn rewards or interest. By doing so, you are contributing to the maintenance of the blockchain network.

6. Airdrop for digital currencies

Among the ways to earn free cryptocurrency, airdrops are the most popular and common. Developers distribute cryptocurrency for free to attract more investors and boost its value.

You can check the internet for the launch dates of the Aerop projects, as they are usually promoted on Company website, social media and websites Digital News. If you qualify, developers can send the specified amount of cryptocurrency directly to your digital wallet.

It is important to be careful when dealing with new cryptocurrency projects. Airdrops and ICOs that may be fake are common scams that scammers exploit. Even if these projects are real, many of the cryptocurrencies issued in airdrops do not have a significant investment value. Therefore, experts advise focusing on the most popular cryptocurrencies, such as Bitcoin and Ethereum, especially for beginners.

Summary of profit from digital currencies

Although there are ways to earn more cryptocurrency for free, cryptocurrency is a new and highly volatile investment, and you should only invest in it amounts that you can afford to lose.

However, there are many people who have seen their financial lives improve thanks to investing in cryptocurrencies. We urge you to study and learn this field carefully before getting involved in it.