Strategies For Investing In Crypto Without Any Money

Investing in crypto doesn't necessarily require connecting with a bank account or spending money to purchase coins. Here are some ways to invest in crypto without money:

- Airdrops: These are free token distribution programs designed to reward early participation in an ecosystem, increase token holders, and generate buzz. While chances of airdrops are speculative, the barrier to entry is usually low, and the total value earned can be significant.

- Learn-and-Earn Initiatives: Some platforms offer rewards in the form of cryptocurrencies for users to learn about crypto or a specific project. Examples include CoinMarketCap's CMC Earn platform and Coinbase Learning Rewards.

- Working in the Crypto Industry: Many Web3 native firms allow employees or freelancers to receive their salary in crypto.

- Node Holding: Some cryptocurrency projects operate a permissionless consensus system that allows anyone with the requisite hardware to participate in the process of validating transactions or performing other crucial blockchain functions. These node holders are rewarded with tokens, usually derived from token emission or a fraction of the fees generated by the network.

- Bug Bounties: Cryptocurrency projects and exchanges offer bug bounties to incentivize developers and researchers to identify and report vulnerabilities in their software. These bounties can be in the form of crypto rewards and can range from a few hundred to tens of thousands of dollars.

- Free Minting: Some non-fungible token (NFT) collections are offered through a free mint, allowing users to obtain an NFT without payment (excluding gas fees).

- Social Media Content Creation: Aspiring crypto investors can use free software to analyze the wallet addresses of successful NFT investors and find free NFT minting and whitelist opportunities.

- Trading Competitions: Some exchanges provide trading competitions where customers can compete based on their trading volume or performance, with prizes in the form of cryptocurrency.

- Crypto Faucets: These are websites or applications that provide users with small sums of crypto in exchange for completing tasks like CAPTCHA puzzles or watching advertisements. However, there are many scam crypto faucets, so caution is advised.

- Indirect Crypto Investing: You can invest in cryptocurrency indirectly through traditional methods like stocks, mutual funds, and exchange-traded funds (ETFs). For example, you can purchase shares of Bitcoin Spot ETFs, Bitcoin Trusts, or ETPs linked to cryptocurrency futures.

Crypto exchange sign-up bonuses

• Coinbase: $5 bonus in Bitcoin after your first purchase of any crypto within 30 days of signing up, plus an additional bonus of up to $200 in a spin-the-wheel event.
• Crypto.com: $25 bonus when you stake $400 worth of CRO (Crypto.com Coin) in a Crypto.com Visa Debit Card.
• Gemini: $15 crypto bonus when you trade at least $100 within 30 days of account opening.
• EToro: $10 bonus when you open an account and trade at least $100 in cryptocurrency.
• Binance: Up to $600 USDT welcome reward in trading fee rebates.
• OKX: Mystery box worth up to $10,000 in crypto rewards when you sign up and deposit $50 or more.
• Webull: Up to 75 free shares of stock and $5 free crypto when you open an account and make a deposit of $500 or more.
• Bitbuy: $20 bonus when you make your first deposit of $250 or more (available for Canadian users only).
• M2: Up to 260 USDT in trading fee coupons when you sign up, verify your identity, deposit at least $50, and open an Earn Plan worth at least 50 USDT for a minimum of 15 days.
• Phemex: Up to $180 bonus when you join with the promo code and complete tasks such as depositing money and following the company on social media.

Crypto savings accounts

It's important to note that crypto savings accounts come with additional risks compared to traditional savings accounts. They typically don't have FDIC insurance, so there is a chance you could lose money if the investment decreases in value. Crypto savings accounts may also have more restrictive withdrawal limits and may not offer compound interest.

• Crypto.com: Offers interest on over 40 cryptocurrencies, with rewards of up to 14.5% for non-stablecoins and 8.5% for stablecoin investments.
• Nexo: Offers daily simple interest payments and short lock-up times of around 24 hours. Select users can earn up to 16% APY on their cryptocurrency.
• BlockFi: Offers interest rates ranging from less than 0.5% to over 7.5% annually. BlockFi also boasts impressive security features, managing over $12 billion in digital assets.
• Uphold: A solid cryptocurrency exchange that offers staking rewards, allowing users to earn on their crypto. Uphold states that it "never lends out your money".
• Coinbase: Best known as a digital wallet, Coinbase also serves as a digital crypto savings account for some customers. Eligible US-based customers can earn up to 5.20% APY on US Dollar Coins (USDC).
• KuCoin: A popular cryptocurrency exchange with a savings product called KuCoin Earn. Users can earn crypto with high APY by saving, staking, or taking advantage of promotional offers.

When choosing a crypto savings account, it's important to consider factors such as safety, supported coins, purchase availability, and interest rates. Remember that investing in cryptocurrency carries risks, and you should never invest more than you can afford to lose.

Crypto ETFs

Understanding Crypto ETFs

How Crypto ETFs Work

Advantages of Crypto ETFs

Investing in crypto ETFs offers several benefits:

• Diversification: Crypto ETFs provide exposure to a range of crypto-related investments, reducing the risk associated with investing directly in a single cryptocurrency.
• Regulation and Consumer Protection: Crypto ETFs are regulated investment products, offering investors greater protection compared to investing directly in the often unregulated spot crypto markets.
• Accessibility: Crypto ETFs are typically traded on major stock exchanges, making them more accessible to investors who may be hesitant to venture into the less familiar world of crypto exchanges.
• Lower Risk: Due to their diversified nature, crypto ETFs can be less risky than investing directly in volatile cryptocurrencies.

Disadvantages of Crypto ETFs

Despite their advantages, there are also some considerations to keep in mind:

• Fees and Expenses: Crypto ETFs often come with management fees and expenses that can eat into your potential returns. These fees can sometimes be higher than those associated with traditional ETFs.
• Performance Discrepancy: The performance of a crypto ETF may not always match the performance of the underlying cryptocurrency. This is because the ETF's returns are influenced by the fund manager's investment decisions and the overall market conditions.
• Limited Control: When investing in a crypto ETF, you are entrusting your investment to a fund manager, which means you have less direct control over your investment decisions compared to investing directly in cryptocurrencies.

Examples of Crypto ETFs

• ARK 21Shares Bitcoin ETF (ARKB): This ETF provides exposure to Bitcoin and has been one of the top performers in terms of inflows.
• Fidelity Wise Origin Bitcoin Fund (FBTC): This ETF has attracted significant inflows and is known for its strong performance.
• Grayscale Bitcoin Trust (GBTC): This is one of the earliest and well-known crypto ETFs, offering exposure to Bitcoin.
• Invesco Galaxy Bitcoin ETF (BTCO): This ETF provides investors with access to Bitcoin and is known for its strong performance.
• BlackRock's iShares Bitcoin Trust (IBIT): BlackRock's crypto ETF provides exposure to Bitcoin and is backed by one of the largest asset management firms.

Final Thoughts

Crypto credit cards

It is important to note that crypto credit cards have similar caveats to traditional credit cards. Users should be cautious about running up a large credit card bill to chase modest rewards. Additionally, crypto-specific risks, such as price volatility, should be considered.

Mastercard is also enabling crypto partners to launch their own branded credit card solutions. This allows for greater flexibility and variety in the market.

Overall, crypto credit cards provide an interesting opportunity for individuals to get involved in the crypto space without directly investing their money. However, as with any credit card, it is important to be mindful of potential risks and rewards.

Bug bounties

To participate in bug bounties, users typically need a good understanding of blockchain technology, programming experience, and knowledge of common security vulnerabilities such as buffer overflow attacks and cross-site scripting (XSS). However, some bug bounties may also support non-technical users, such as those that offer rewards for promoting a project or providing feedback on the user experience.

By participating in bug bounties, users can get their hands on free crypto while also contributing to the security and improvement of blockchain projects and smart contracts.

Frequently asked questions