Gone are the days when cryptocurrency was just a buzzword. This decentralized money system is here to stay, and more and more people are rushing online every day to learn about how to mine cryptocurrency, how to trade cryptocurrency and even how to create a cryptocurrency of their own. There are, however, many cautious players who want to get a feel of cryptocurrency without investing too much in it. They are thus curious to know how to mine cryptocurrency without spending anything. Read on for our quick and easy guide on ways to get cryptocurrency for free.
- Download a cryptocurrency wallet that offers free cryptocurrency
Some wallets allow you a small amount of free cryptocurrency when you download them, and while the amounts are generally low it’s certainly a start. However, be careful when downloading such wallets so as not to accidentally download malware and corrupt your phone.
- Sign up for an Initial Coin Offering (ICO)
ICOs are held to mark the launch of a new coin, and many of them offer new users free coins, discounts for signing up early or referral bonuses for getting friends to join. This can be a good way for you to get a new cryptocurrency before the rest of the world. However, remember that many ICOs later turn out to be scams, so do your research before opting for them.
- Use a Proof of Stake (POS) system
Holding coins in a POS system is a great way to get crypto coins for free. In this process, even if you hold a relatively small number of coins, you can make a good passive income. For instance, holding NEO allows you to obtain small amounts of GAS for free when you have your holding on the Binance platform or on a crypto wallet.
- Hold cryptocurrency in a wallet when a hard fork occurs
A hard fork of a cryptocurrency is basically like a split where the original cryptocurrency generates a new version of itself. Holders of the original cryptocurrency can get free amounts of the new coin – for instance, when the Bitcoin Cash hard fork occurred in 2017 (the original cryptocurrency being bitcoin), all traders who had Bitcoin in their wallet received one free Bitcoin Cash for every wallet. However, it is important to remember that you only benefit from a hard fork when you hold the cryptocurrency in a wallet, not on an exchange.