10 Effective Strategies to Earn Free Crypto in 2024: Philippine Edition

Nakapulot ka na ba ng Piso? Do you want to earn free crypto in the Philippines?

IMPORTANT: Read our new crypto airdrop guide: 24+ Potential Crypto Airdrops to Watch Out For in 2024

Cryptocurrencies have emerged as a viable alternative to traditional financial systems. Unlike fiat currencies issued by governments, cryptocurrencies are decentralized and operate on a blockchain, which makes them more valuable. 

Introduction

And though different cryptocurrencies have their own functions, like a utility token or a governance token, they still have a fiat equivalent. For instance, 1 BTC as of this writing equates to ₱2,925,985.29. 

And because cryptocurrencies have fiat values, we cannot deny that whether you got ₱1-worth of crypto or even ₱500-worth for free, it is still luck. 

Just imagine that you are walking in BGC when suddenly you see a ₱1,000 bill. You were looking for the owner, but nobody claimed it; thus, the guard decided that you just take it instead. This is the same feeling when you earn crypto for free, as you gain something with less or minimal effort only. 

In this article, discover the top 10 ways to earn free crypto in 2023. From airdrops and staking to referral programs, trading competitions, and free NFTs, we explore the best strategies to grow your crypto portfolio without spending a dime or just less.

Note: The article is not financial advice. Readers are encouraged to their own research.

10 Effective Strategies to Earn Free Crypto in 2024

Airdrops: The First Step to Earning Free Crypto 

(Read more: 24+ Potential Crypto Airdrops to Watch Out For in 2024)

An airdrop is a way of distributing cryptocurrencies to the wallets of existing or potential users, usually for free or in exchange for some simple tasks, like sharing their social media accounts or making a review about the project’s website and services. 

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Usually, airdrops are used by new projects to introduce their token, promote their platform, gain attention, and attract new users. By participating in an airdrop, those who will promote can get free crypto and learn more about the project.

It is similar to doing certain tasks in groceries, like buying those with green tags, then you will get points that can be converted to ₱1 per point. 

This task is not that hard to do as there are several websites that provide lists of current and upcoming airdrops, such as CoinDesk, Airdrops.io, and CoinAirdrops.com. 

Staking: Multiply Your Crypto While You Sleep

(Read more: Crypto Staking 101: How to Earn Passive Income in Crypto and Web3)

Staking is the process of locking up some of your cryptocurrency in a wallet or on a blockchain network to support its functionality and verify transactions. By staking, you can earn rewards or interest, typically in the form of more crypto.

Usually, you just need to follow the instructions, like creating an account, depositing some crypto that is eligible for staking, and selecting a staking option that suits your preferences, then your crypto will gain interest. Some platforms may require you to lock up your crypto for a certain period of time, while others may allow you to withdraw it anytime. 

It is similar to the idea that you deposit your money in a local bank so that they can use it for investing, your money can then earn profit periodically. 

This task is not that hard to do as there are several websites that provide lists of legitimate and verified staking projects, such as CoinMarketCap, CoinGecko, and Staking Rewards.

(Read more: Metamask Staking Allows Users to Stake ETH in Lido and Rocket Pool)

Referral Programs: Leverage Your Network for Crypto Rewards

(Read more: How to Earn Free Crypto Through Referral Programs in 2023)

Referral programs are a way of earning free crypto by inviting other people to join a platform and create an account to be able to earn crypto. It is often used by new or existing projects to grow their user base, increase their visibility, and create a network effect. 

Usually, you will need to create an account, get a unique referral link or code, and share it with your friends or contacts. When someone signs up using your link or code, you and your friend will both receive some crypto rewards. The amount of rewards you can earn depends on various factors, such as the value of the crypto, the number of referrals, the platform’s terms and conditions, and the duration of the program.

It is similar to the idea of loyalty programs, where they will give a commission when you convince others to buy a kind of product. 

Some of the platforms that offer referral programs like Coinbase, where you can earn $10 worth of Bitcoin for each friend who signs up and buys or sells $100 worth of crypto; Binance, where you can earn up to 40% commission for each friend who signs up and trades on Binance; and CoinMarketCap, where you can earn $10 worth of BNB for each friend who signs up and completes a quiz on CoinMarketCap Earn section.

(Read more: Coins.ph Crypto Affiliate Program Now Live With 60% Commission Rate)

Trading Competitions: Showcase Your Trading Skills for Rewards

(Read more: How to Earn Free Crypto Through Trading Competitions in 2023)

A crypto trading competition is a contest where participants compete to trade cryptocurrencies on a platform and win prizes based on their performance. It is often organized by crypto exchanges to attract new users, increase trading volume, and promote their services. 

Usually, you will need to register for the competition and deposit some crypto or use a demo account to start trading. The competition may have different rules, criteria, and rewards depending on the organizer. For example, some competitions may rank the participants by their profit, return, volume, or accuracy; while others may reward the participants randomly or based on their referrals. The prizes may vary from cash, crypto, tokens, NFTs, or other benefits.

CoinMarketCap and CoinGecko have a section where you can see the list of exchanges that currently do trading competitions. While some of the known exchanges that have it are Binance, where you can win prizes such as BNB, NFTs, or physical items; Bybit, where you can win prizes such as USDT, BTC, or ETH; and even GCash’s GCrypto, with a prize pool of $80,000.00.

Learn-And-Earn: Showcase Your Trading Skills for Rewards

(Read more: How to Earn Free Crypto Through Referral Programs in 2023)

A learn-and-earn program is a way of earning free crypto by learning about different crypto projects and tokens on a platform. It is often offered by platforms to educate new or existing users about the features, benefits, and use cases of their products or services. By participating in a learn-and-earn program, you can get free crypto and gain more knowledge and skills about the crypto industry.

Usually, you will need to watch some videos or read some articles about a crypto project or token and complete a quiz or a task to test your understanding. The rewards may vary from cash, crypto, tokens, NFTs, or other benefits.

Some of the platforms that have this program include Coinbase, where you can earn up to $130 worth of different cryptocurrencies by watching videos and answering quizzes; Binance, where you can earn up to $50 worth of different cryptocurrencies by watching videos and answering quizzes on Binance Academy; and Crypto.com, where you can earn up to $50 worth of different cryptocurrencies by watching videos and completing tasks on its app.

(Read more: Filipina Entrepreneur Builds ‘Learn-To-Earn’ NFT Platform Metacrafters)

Free NFTs: Getting into the Collectible Market for Free

(Read more: How to Earn Free Crypto Through NFTs)

It is also a kind of airdrop, but instead of cryptocurrencies, projects usually give NFTs to promote their genesis and attract more future holders.

You can definitely earn crypto here because NFTs have value. You can sell the NFT you got to the secondary marketplace, or wait for the project to bloom before selling it. 

Some of the platforms that can give you a list of NFT airdrops that are currently available are CoinMarketCap, CoinGecko, and Airdrops.io.

(Read more: First Mall NFTs? SM Megamall NFTs Launched with MetaverseGo)

Side Hustle: Getting into the Collectible Market for Free

(Read more: 5 Crypto Side Hustles You Can Do To Earn Extra Money)

In this world where we are pushing for cryptocurrencies to be an alternative to traditional financial systems, it is normal to receive cryptocurrencies as a token of thanks. 

For instance, you can host a Twitter Space for a project, and in return, they will give their native token as an appreciation gift.

You can also be a contributor or a freelance writer for a publication, a volunteer like a crypto educator, or even participate in apprenticeship programs.

(Read more: Find more crypto jobs in the Philippines)

Influencers: Stay Updated and Reap the Benefits

Since we are almost always in front of our phones, we surely follow web3 influencers and content creators. Sometimes, they could be the source of some airdrops and referral projects, but sometimes, they also give away free crypto and NFTs. 

Influencers give away digital assets by just asking for some favor, like following the social media account of a platform, retweeting a thread, and even tagging friends in the comment section.

You can also watch and listen to Twitter Spaces and Webcasts that give away collectibles. Like the recent BitPinas Webcast, where we gave away ₱1,000-worth of crypto and an NFT from Mintoo. 

(Read more: Do Influencers Escape Legal Liability Using “Not Financial Advice” Disclaimers?)

Crypto Lending: Passive Income Through Blockchain

Crypto lending is a way of earning free crypto by lending your crypto to borrowers and earning interest in return. Crypto lending is available through platforms that offer financial products for crypto investors, such as loans, savings, or trading.

Usually, you will need to deposit some crypto that is eligible for lending and select a lending option that suits your preferences. Some platforms may offer fixed or variable interest rates, while others may allow you to choose your own terms and conditions. The amount of interest you can earn depends on various factors, such as the value of the crypto, the duration of lending, the platform’s fees, and ‌market demand.

Bug Hunting: Make the Crypto World Safer and Get Rewarded

A bug hunter is someone who finds and reports bugs or vulnerabilities in software, usually for a reward or recognition. Bug hunting is a form of ethical hacking where the bug hunter follows certain rules and guidelines to avoid causing harm or damage to the software.

You can get free crypto through bug hunting by participating in different platforms that offer crypto rewards for finding and reporting bugs or vulnerabilities in crypto projects and web3 platforms. Some of them may require you to register, verify your identity, or sign a non-disclosure agreement, while others may allow you to submit your findings anonymously or publicly. The amount and type of rewards you can get may vary depending on the program or platform, the severity and impact of the bug or vulnerability, and the quality and timeliness of your report.

Some of the websites that provide a list of platforms that are looking for bug hunters include HackerOne, Bugcrowd, and Gitcoin.

Closing Thoughts

In today’s era, the concept of earning free crypto has gained significant traction by paving the way for you to earn free crypto through various methods. Whether it is through airdrops, staking, referral programs, trading competitions, learn-and-earn, free NFTs, side hustle, influencers, crypto lending, and bug hunting, there are a lot of opportunities for you to enter the world of crypto and accumulate digital assets without making a financial investment. 

However, it is also important to exercise caution and conduct thorough research first before engaging in any earning opportunities to ensure the legitimacy and security of the project you will join to. As some may exist just to steal your personal information, or even steal your hard-earned money. 

But there has never been a better time to start earning free crypto than today. Not only can you earn free crypto, but you will also have the chance to learn and expand your network. 

Imagine being able to earn free crypto while expanding your financial literacy. It is surely a win-win situation! So, take advantage of this incredible opportunity and start earning free crypto today!

This article is published on BitPinas: 10 Effective Strategies to Earn Free Crypto in 2023: Philippine Edition

Disclaimer: BitPinas articles and its external content are not financial advice. The team serves to deliver independent, unbiased news to provide information for Philippine-crypto and beyond.