Cryptocurrencies have become a hot commodity in recent times with prices regularly breaking new records. And while things have somewhat stabilized, Bitcoin and other cryptocurrencies are still highly sought after investments.
Because of this, even the most conservative investors have expressed interest in digital assets. However, the wild nature of these assets hasn’t done much to instill confidence. Nevertheless, the temptation to enjoy huge ROIs is too much to put off.
Before you dive in with both feet, keep the following mind:
Cryptocurrencies are extremely volatile. One of crypto’s greatest strengths is also a huge weakness. Keep in mind that an asset worth tens of thousands today could just as easily be worthless the next day. So make sure you are not crypto betting: you should calculate and predict your risks before investing or selling your assets.
At the same time, the right crypto at the right time can turn you into a millionaire overnight. The key here is to do your own research, understand its risks, and manage your risk exposure. Remember: the market is an unpredictable beast that bites both ways.
The crypto market is 100% unregulated and totally decentralized. Unlike fiat currencies, crypto isn’t backed by a government or central monetary authority. Instead, transactions and its proof of value are provided by the blockchain that it exists on.
This allows you to send/receive funds without ever having to make use of banking infrastructure. But this is not without its fair share of risks. Hackers and cybercriminals often target crypto wallets to steal the tokens stored within.
As crypto transfers are basically pseudonymous, it’s next-to-impossible for the authorities to track the perpetrators. And this means that the chances of recovering your stolen funds are very low.
Now that you understand the risks associated with crypto assets, let’s take a look at how you can get them for free.
Sign Up For A Crypto Wallet
Crypto wallets allow you to store your tokens safely online. Despite being a favorite target for cyber thieves, technological advancements have made hot wallets much safer.
Given how competitive the crypto wallet scene is, some providers offer new users sign up bonuses in exchange for using their wallet.
Let’s take a look at the best wallets that give you crypto for signing up.
Wallets that offer crypto for signing up:
- KuCoin — Rewards you with USDT
KuCoin lets you earn up to $500 worth of USDT when you create an account with them. To access this sign up bonus, you must first sign up as a KuCoin user.
Newcomers are required to pass AML and KYC requirements before they are approved. After that, they have to make a deposit to qualify for the bonus.
While there are a few requirements, the free USDT makes it worth the effort.
- BlockFi — Earn BTCs by depositing funds
BlockFi operates on a simpler model. To qualify for free BTCs, you must maintain a minimal balance in your wallet for at least two and a half months.
Doing so automatically qualifies you for the free payout offered. The higher the balance maintained, the more you stand to earn. With BlockFi, you can earn a maximum of $250 worth of BTCs every month.
All in all, BlockFi’s wallet acts like a high-interest savings account that pays out BTC, making it a great source of passive income.
- Nexo — Get rewarded with free BTCs
Like BlockFi, Nexo also pays out BTCs. In order to collect your welcome bonus, you must first create an account with Nexo and pass several verification checks.
After that, you’re required to deposit $1000 and hold it there for at least 30 days. Doing this, qualifies you for $100 worth of BTCs.
Use a Crypto Faucet
Besides signing up and depositing funds with hot wallets, you can also get free tokens by collecting them from a crypto faucet.
What is a crypto faucet?
A crypto faucet is basically a site that pays out small quantities of cryptocurrency for free in exchange for completing a range of basic tasks. This makes faucets ideal for newcomers looking to experiment and learn more about cryptocurrencies.
Faucets that give you free crypto
Here, my team and I have shortlisted a selection of the 3 best crypto faucets that will reward you with BTC and DOGE tokens.
- Bitcoinker — Solve captchas and earn BTC
Bitcoinker rewards you with small quantities of BTC i.e. Satoshis for solving captchas. On average, you can earn up to 7 Satoshis or $0.0016 per captcha. So, if you’ve got the time and enjoy puzzles, this is the faucet for you.
- FreeBitcoin — Earn up to $200 worth of BTC every hour
With FreeBitcoin, you only need to play a random number generator game to collect your BTCs. And if you’re got plenty of friends interested in crypto, you can consider referring them for a 50% commission on all of your friend’s winnings.
- Cointiply — Get paid in BTC and DOGE when you watch videos and answer surveys
Cointiply pays you in either BTC or DOGE just for watching videos and answering a few surveys. Like FreeBitcoin, there’s also a referral system that will help you boost your earnings.
To sum up, cryptocurrencies have their ups and downs. But they are definitely here to stay, so it wouldn’t hurt if you took the time to collect a few free tokens.