Getting started in the world of cryptocurrency can be intimidating. You’ve probably heard about Bitcoin millionaires and massive price swings, but how do regular people actually earn crypto? The good news is there are accessible options for crypto newbies to earn their first bits of Bitcoin and other cryptocurrencies.
Getting Started with a Crypto Exchange
The first step is signing up for a reputable crypto exchange like Coinbase, Gemini, or Kraken. These platforms allow you to easily buy, sell, and store cryptocurrency. When signing up, you’ll need to verify your identity and connect a payment method like a bank account or debit card.
Once your account is set up, you can make your first crypto purchase. Even $20 or $30 is enough to get you started and familiar with how the exchange works. Exchanges like Coinbase even offer free crypto rewards just for watching some educational videos about different coins.
Trying Out Crypto Faucets
Crypto faucets are platforms that give out small amounts of cryptocurrency in exchange for completing simple tasks like solving a captcha or watching an ad. The amounts are tiny, usually just a few Satoshis worth a fraction of a penny. But they allow you to get a feel for earning free crypto. Popular faucets like Cointiply, MoonBitcoin, and Bitcoin Era pay out in Bitcoin. The payouts are small, but if you check back daily, they can add up over time. Just don’t expect to get rich with this method.
Completing Microtasks
Another easy option is completing microtasks on sites like Coinbase Earn, Sweatcoin, and StormX. These platforms pay a few cents worth of crypto for actions like:
- Watching videos
- Completing surveys
- Downloading apps
- Playing games
- Referring friends
Payouts are modest, but it’s an easy way to stack a little bit of Bitcoin, Ethereum, or StormX tokens. Just be selective about which tasks you complete to avoid wasting too much time.
Staking Your Crypto
Staking allows you to earn interest on your crypto holdings. It works by locking up an amount of coins to help validate transactions on proof-of-stake blockchains like Cardano, Solana, and Polkadot. In exchange, you earn staking rewards.The average staking yield is around 5-10% APY. So staking $100 in Cardano could earn about $5 in interest over a year. There are risks like volatility and lockup periods to be aware of. But it’s a relatively easy way to put your crypto to work earning more crypto.
Signing Up for Airdrops
In the crypto world, airdrops are free giveaways of coins or tokens. Projects airdrop coins to raise awareness and get them into more users’ hands. To qualify, you usually need to perform simple tasks like following the project on social media or downloading a wallet.Exchanges like Coinbase and Kraken also airdrop free crypto to users who take part in educational lessons or surveys. While airdrop amounts are small, it’s like getting free money for almost no effort.
Referral Bonuses
Finally, you can earn free crypto by referring friends and family to exchanges and crypto services. Platforms like Celsius, BlockFi, and Crypto.com offer $10-$50 bonuses for each person that signs up and deposits through your referral code.This offers an easy way to stack some free Bitcoin, stablecoins, or other tokens while helping onboard new people to crypto. Just avoid being too pushy with your referrals, as that may turn people off.
Getting Paid in Crypto
Once you’ve gotten your feet wet, you can move on to more advanced ways of earning crypto like mining, working for crypto wages, and creating NFTs. For crypto newbies, though, the methods above offer a simple way to earn your first bits of Bitcoin and other coins without a big investment. Just be selective about which platforms you use, start small, and pay attention to fees to maximize your earnings.