There’re several ways to earn crypto without buying it with cash. But only a few are worth your time and effort.
In this post, I will be sharing with you the 11 best ways that I use to earn (more) crypto without buying it.
11 best ways to earn (more) crypto
Click on any item on the list to jump to their respective location on the page.
- Staking and mining
- Liquidity mining
- Creating content
- Airdrops and giveaways
- Referral and affiliate marketing
- Learn and earn programs
- Create a crypto startup
11 best ways to earn (more) crypto
In no particular order, below are the 11 best ways to earn crypto without buying it with cash.
1. HODLing (buy and hold)
HODL is a fun misspelling of the word hold.
It means hold on to dear life.
HODLing is a crypto investment strategy of buying and holding on to a particular coin.
And not selling it, regardless of whether the price is falling or rising in the short term.
Because given enough time, most cryptocurrencies tend to post significant price appreciations.
And one could make much more money in the future than selling now for a small profit.
HODLing will only increase the fiat value of your coin.
It cannot increase the amount of coin that you have in your wallet.
But, there are some situations where HODLing can actually earn you some other coins for free.
Which you can then sell to buy more of the coins you’re holding.
For example, by holding the SWAP token you receive airdrops of its launchpad projects.
Same with holding BNB, LAYER etc.
More so, holding some dividend tokens like KCS, NEXO, CET, etc will earn you a daily share of their profit (dividend).
Which they pay into your account in the same token.
Thus you can actually grow your portfolio by holding the right coins or tokens.
Trading refers to buying and selling of cryptocurrencies.
Traders aim to buy a coin when the price is low and selling it when the price is higher.
Buy low, sell high. That’s the ideal thing.
But it rarely goes as planned and there’s a lot more to it than that.
But that’s the basics of trading that you should know for now.
Trading is the fastest way to make or lose a lot of money in crypto within a very short time.
I usually tell people that, except you know exactly what you’re doing, avoid crypto trading.
But if you must, then I recommend following this simple crypto trading strategy that I also use.
3. Staking and mining
Staking is the process of locking up your coins on a proof of stake blockchain network for daily rewards.
Mining has the same purpose -to verify blockchain transactions.
But with mining, you’re not staking your crypto as collateral to verify transactions.
Rather, it requires the use of special machines to produce blocks of verified transactions. Those who mine are referred to as miners. And they earn what’s called a “miners reward”.
Both are ways of creating or releasing new coins into existence and contribute to the supply.
Thus, by staking or mining, you will earn more of the coin or token and grow your portfolio without having to buy it with cash.
- Here’s why staking on centralized exchanges is a bad idea
- Top 5 best staking wallets – no.1 is a must-have
- POOL-X: The best POS mining, staking and trading platform
- Everything you need to know about KuCoin soft staking
You can lend out your crypto and fiat on DeFi or CeFi platforms and earn daily compounding interest.
The interest is usually paid in the same coin that you lent or any other coin of your choosing.
This way, you can earn more crypto with the coins or tokens you already hold.
- Nexo review: The world’s first instant crypto credit lines
- Compound Finance review: the most secure DeFi lending protocol
- Celsius Network review: unbank yourself
5. Liquidity mining
Liquidity mining is also known as yield farming.
This is the act of depositing your coins to a pool on decentralized exchanges.
These pools are then made available to provide liquidity for traders on the exchange.
And you earn a share of all trading fees the exchange collects, in proportion to your share of the pool.
Your yields (share of fees) is usually paid in the same coin or token you deposited.
Thus, again, growing your portfolio without having to buy more of the coin with cash.
6. Creating content
All the ways to earn (more) crypto that we discussed above require you to already own some.
Or have the resources to get and set up mining equipment.
But what if you’re starting from ground zero?
All hope is not lost.
One way to earn crypto without buying it is by creating and publishing content.
Everyone has some interesting story to tell.
Or some valuable experiences to share.
You can get paid to do exactly that.
And if you’re reading this post, you already have all you need to get started right now.
- Read.cash review: the blogging platform that pays you in BCH
- Publish0x Review: Earn Crypto Daily for Reading and Blogging
- How to Earn Crypto Daily for Reading and Blogging on Publish0x
- Top 5 Crypto Blogging Platforms That Pays You for Writing
More so, if you have other skills like graphic design, you can monetize it by designing ad minting NFTs.
Then sell them for crypto on the various blockchain marketplaces such as OpenSea.
You can also make your skills available to people who needs it and they pay you in crypto.
If you have any skill whatsoever, you can monetize and earn crypto with it.
I have made more money by participating in different types of contests than I have in writing on the various blogging platforms.
That’s because the prizes for these contests are usually higher than the small tips you get for publishing normal content.
So always look out for the latest, high-value contests to take part in.
Some of the best places to look are the various blogging platforms and social media channels.
You may also join our Telegram group, where we will be discussing everything crypto.
And sharing some of these opportunities as they come.
8. Airdrops, and giveaways
These can seem like low-level ways to earn crypto without buying it but think again.
Some airdrops and giveaways can change certain people’s lives.
Take for instance the Uniswap airdrop, though that was a “luck users airdrop”.
Some people got UNI tokens worth up to $3000, depending on when they sold.
I have participated in some airdrops and won tokens worth $2000+.
An example was the Hydro token airdrop, where we received 222,222 Hydro tokens sometimes back.
The airdrop was worth more than $2000 at some point.
A recent example was the airdrop of $15 worth Trust Wallet Token (TWT) to users of Binance Exchange.
Check all over Twitter, Telegram groups or channels, and the internet.
There’re so many airdrops and giveaways happening al the time that you can take part in to earn some crypto free.
But, some airdrops recently are complete scams and garbage.
They will use you to do all the activities and never distribute. Or at best, give you very worthless tokens.
Some of them will even turn around and ask you to send some ETH or buy their ICO to get the airdrop tokens.
Others just use the airdrop to mine email addresses, which they will sell to the highest bidders.
So you will want to check them out very well to determine if they’re worth your time and effort or pass them over.
- 10 legit free crypto giveaway Twitter accounts to follow
- How to identify and avoid cryptocurrency scams
9. Referrals and affiliate marketing
You have used some products or services that you liked and enjoyed.
And you have friends who may also need the same products and services.
That’s a good referral or affiliate marketing opportunity there for you to earn some more crypto without having to buy it.
Affiliate marketing is the process of promoting another person’s products or services and getting paid a commission for every sale you generate through your affiliate link.
All you need to get started as an affiliate marketer is:
- Register on the website of the project you want to promote
- Grab your affiliate or referral link
- Tell other people about the project and share your link with them to register if they want to use the service
- Earn a commission for every sale generated through your affiliate link
Do your friends have to pay extra because of this?
In fact, in some cases, they will pay less for using your link and more if they don’t use anyone’s link.
If you have a lot of friends you can even negotiate a special discount for them with the project you’re promoting.
The company gets more sales, you earn a commission, and your friends pay less.
Most crypto projects will pay you in their native token or a supported cryptocurrency.
Thus, you are earning some crypto that you didn’t have to buy with cash.
10. Learn and earn programs
Do you know you can get paid for learning about a project?
Yes! you can.
And this is only possible in crypto.
The Coinbase and CoinMarketCap learn and earn programs are among the most popular.
They pay you a small amount of the project’s native cryptocurrency to learn about them.
All you have to do is watch some video explainers of the project, answer a few questions.
And boom! you get paid.
There’s no better time to earn free money than this generation.
11. Create a crypto startup
What about creating your own crypto startup?
Or better still, start accepting crypto in your local or online store?
The benefits are two-fold.
- You wouldn’t have to buy it with out-of-pocket cash
- You will benefit if the price goes up. It’s also true that you will be getting less for your goods and services if prices fall after the customer has paid.
If you’re a professional barber or run a restaurant, put up a sign that says Bitcoin Accepted Here!
And I bet you will get a surprising number of both existing and new customers who are willing to spend their crypto with you.
Try it and let us know how it goes.
The above are some of the best ways to earn crypto without having to buy it with cash.
And to be honest, you can make quite a lot from either of them if you dedicate enough time to it.
What other ways do know to earn (more) crypto? Share with us in the comments section below.