Ever since Cryptocurrency has pushed its boundary of usage, it has no longer remained just a measure of investment. People have also started using Cryptocurrencies like Bitcoin as a medium of exchange. They have also reaped various favors in exchange for that. Just like earning a few extra rupees out of nowhere keeps happening, similarly Crypto users are now making a few free Cryptocurrencies here and there, by availing to certain offers.
Sometimes, when we refer an app to a friend we get some free vouchers, or discounts. Sometimes, we get a cashback for using a certain app or site for making transactions. Sometimes, we get free coins in games for watching a particular advertisement till the end.
Ways in which Free Cryptocurrency is earned
Free Cryptocurrency is being handed out for using some particular applications and extensions, as given below:
- In the forms of Rewards and Bonuses:
There are certain sites and extensions where you can shop using Cryptocurrencies. These particular sites happen to issue rewards for crossing a certain shopping limit. They also issue bonuses if you have referred the site to your friends, and they have used your referral code while shopping. This is a common scenario, only that in place of money, users are making a few extra Cryptocurrencies.
For example, there is a browser extension named Lolli which offers the consumers this benefit called “Bitcoin Back,” when they shop with their retail partners, using Bitcoins. There are various sites that offer cashback when paid with fiat currency. Lolli has a wide range of retailers, dealing with make-up, comfort wear, and whatnot. The “Bitcoin Back” sometimes soars as high as 30%. The Bitcoin earned can be easily transferred to the user’s Crypto wallet.
It is the same scenario for bonuses. Some Crypto trading apps offer free Cryptocurrency as a reward for signing up to the app, and also offer some bonus for making another peer join the app. Bitcoin scalability, there are plenty of other applications that get the users started with at least $5 to invest and some additional $10 when their referred friend invests in their first Cryptocurrencies.
- Credit Card Benefits:
Cryptocurrency Credit Cards are designed with the similar intention as reward credit cards. The only difference being, with every swipe of the Cryptocurrency Credit Card, the rewards will be in Cryptocurrencies. BlockFi and Upgrade are few companies that offer Cryptocurrency Credit Cards. Crypto users have been rewarded with 1.5%-3.5% of back in Bitcoin.
The cards provide the option of letting the users choose their preferred Cryptocurrency. Others come with an already set Cryptocurrency. So, unless the users trade in that particular Cryptocurrency, that Credit card would be useless to them.
However, what users should be cautious about regarding these cards is that they function the same way as other Credit Cards. It becomes a huge financial burden for users who fail to pay off their loans well within time. Thus, only when you can afford to buy things off your credit cards, use them. Users should not just keep swiping their Credit cards in the hope of earning some extra Cryptocurrencies.
- Performing Tasks or Further Investing:
There are few platforms that pay in Cryptocurrency for having performed a particular task. The task can range between anything, from watching a video till the end to taking quizzes. These tasks will lead to small rewards in the form of Cryptocurrencies. Apart from getting rewards after performing tasks, there are platforms where one can invest their Cryptocurrencies and earn some share of the profit made.
Since Cryptocurrency has been trying to emerge as a leading currency, many platforms have started promoting it. These promotions work as a double-edged sword. They work in favor of the Cryptocurrencies as well as the commodities and services that they are trying to promote.