FinTech News
7 Ways to Earn Free Crypto: Options and Tools to Try
It wasn’t that long ago when buying or trading cryptocurrency required a level of tech literacy that most people simply don’t possess. Yet, in a relatively short amount of time, the landscape has evolved dramatically. Now, there are plenty of easy-to-use options that can help people get into the world of crypto. But what if you don’t even want to invest your own money just yet? As it turns out, there are a few ways you may be able to score yourself free Bitcoin or other crypto assets thanks to some apps, tools, and other means.
Whether you’re looking to jump into crypto for the first time or just continue to grow your crypto portfolio, here are a few options that just might help you rack up some free cryptocurrency assets:
Fold
One of my favorite ways to earn free crypto is with an app called Fold. The basic idea of Fold is that you can purchase gift cards for various retailers and restaurants while earning Bitcoin back in the process. So, if you were to buy a $50 Amazon gift card through the app, you could earn 1% back in Bitcoin. Then, once you accrue at least 50,000 Sats (small pieces of Bitcoin), you can transfer your holdings out to an external wallet.
While this gift card purchasing platform is the main feature of Fold, the app has since expanded to offer even more crypto-earning opportunities. For one, users can spin a digital prize wheel once per day for a chance to win additional Sats. Elsewhere, the app recently introduced its Metaverse AR game, which is yet another fun way to earn a few small pieces of crypto.
Finally, there’s the Fold debit card, which comes in two flavors: Spin and Spin+. Both options allow you to earn enhanced Bitcoin back rates on gift card purchases, while also giving you a unique way to earn crypto from all other debit card purchases. There are pros and cons to both of these cards options — but, in general, if you’re looking for an easy and fun way to build up your Bitcoin stash, then Fold might be the solution.
Lolli
Lolli is another cashback platform that, instead of offering any old cashback, provides Bitcoin back. It can best be compared to a crypto-centric version of Rakuten, where shoppers can utilize links for select brands on Lolli’s site to complete their purchases. In turn, they’ll earn Bitcoin that can then be transferred once at least $15 worth is earned.
Among the brands featured on Lolli are Adidas, Groupon, Expedia, Macy’s, Best Buy, Old Navy, and more. Personally, I don’t have as much experience with Lolli as Fold, but the recent investment in the platform would suggest that it’s pretty promising. Therefore, I think it might be worth a try if you’re buying anything on one of the supported retail sites.
Cash Card
Going back to debit cards, the popular Cash App Cash Card might also be a source of free Bitcoin for you. In addition to some of their brand-specific Boosts offered for the card, Cash Card has occasionally offered Boosts that can be used to earn Bitcoin back. For example, at the time I’m writing this, I have one Boost that will earn me 10% worth of Bitcoin when I use my card to make a purchase at any restaurant.
Be aware that, in order to take advantage of a Boost, you’ll first need to add it to your card. Additionally, pay attention to the expiration date of the Boost so you don’t miss out. Once you do make a qualifying purchase, your earned Sats should arrive in your account, viewable by tapping the Bitcoin tab in the app.
By the way, when cashing out your Fold Sats, I’ve found that Cash App is a good destination as it makes it easy to turn your Bitcoin into fiat if needed.
Coinbase Learn and Earn
If you know much about crypto, there’s a strong chance you’ve heard about Coinbase. In fact, the platform was one of the first to demystify cryptocurrency and make trading of such assets more assessable to all. But did you know that Coinbase also allows users to earn free crypto assets just for learning more about them?
The platform I’m referring to is called Coinbase Learn and Earn (or just Coinbase Earn). Currently, while the site hosts courses on more than two dozen cryptocurrencies, courses on Stellar Lumens (XLM), Fetch.ai (FET), The Graph (GRT), and Amp (AMP) will result in users receiving between $3 to $10 worth of that token. Thus, this can be an easy and educational way to diversify your crypto holdings.
Sign up offers
With cryptocurrencies proving to be big business, there are now several companies that might try to attract new users by offering them bonuses for opening accounts and meeting certain requirements. While these offers are constantly evolving — making them not worth listing specifically — they are worth keeping an eye out for. Plus, while you’ll want to be cautious before signing up for a service you’re unfamiliar with, the good news is that you might also encounter bonuses from trusted platforms like PayPal and others as well.
Crypto cards
In addition to the aforementioned Bitcoin-earning debit cards, there are a growing number of crypto credit cards now hitting the market as well. Among them, the BlockFi credit card allows customers to earn 1.5% back on their purchases in the form of Bitcoin or a handful of other crypto assets. Meanwhile, the Gemini credit card is in the works, featuring enhanced crypto-back rates on certain spending categories. Also notable is that the Venmo Credit Card now allows cardholders the option to earn their cashback in the form of crypto, so that could be yet another option. Of course, with the popularity of these options and others, expect that plenty of other crypto credit cards are sure to follow — so choose wisely.
Interest accounts
Finally, if you’ve already acquired some cryptocurrency and want to leverage those holdings, crypto interest accounts may be a good option. Personally, I’ve been using BlockFi to hold some of my Bitcoin and earn interest on my money similar to how I would with fiat cash in a traditional savings account. That said, these types of accounts vary greatly from actual bank accounts. Most notably, they do not offer FDIC insurance the way a regular bank account would. This means that there is some risk involved with these options but, if you’re willing to take on a bit of that risk, you could find them to be beneficial to your crypto earnings.
If you’re interested in cryptocurrency overall but aren’t quite ready to invest your own money buying some for yourself, the good news is that there are now several options that can yield you “free” crypto instead. While some of these may require some upfront money, others allow you to earn crypto just for doing things you would normally do anyway. So, if you’re ready to join the crypto revolution, be sure to give one or more of these tools or options a shot.
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Other Articles by Kyle Burbank
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