The 4 best ways to earn free crypto in 2020
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How can I earn free Crypto?
There are many articles on the web offering suggestions about how to earn free cryptocurrency, but most of them are either outdated or misleading. Theoretically you can still mine Bitcoin, but the days that this activity led to free Bitcoins are long gone. The hardware and energy costs are prohibitive and you’re competing with major Chinese corporations mining on an industrial scale. That ship sailed long ago!
Similarly there are other opportunities if you already hold a portfolio of cryptocurrencies or if you are tech savvy enough to exploit the more complicated methods in the crypto space.
I’m guessing though that the reason you are here reading this page is that you are new to the cryptosphere and that you have arrived at Crypto On-Ramp because you are looking for a simple and helpful explanation of how to get started. Good choice. So what I have included here in this article are the ways in which you can actually earn free crypto, taking advantage of simple and uncomplicated opportunities, here and now in 2020.
How do you get free Cryptocurrency in 2020?
Let’s start with how you can earn free cryptocurrency while you browse the web.
Brave is a free and open-source web browser developed by Brave Software, Inc. and based on the Chromium web browser. If you want to earn free crypto in the form of Basic Attention Tokens (BAT), use Brave as your default browser. You earn free BAT cryptocurrency while you surf the web – it’s that simple.
Because it’s built on Chrome, Brave is virtually identical in performance and stability, but it’s also the most private, most secure and possibly fastest browser out there. Brave blocks ads and website trackers, and provides a way for users to send cryptocurrency contributions in the form of Basic Attention Tokens to websites and content creators.
Once you have the browser, turn on Brave Rewards to earn your BAT tokens for viewing privacy-respecting ads. You can set the number of ads you see per hour, up to a maximum of 5.
By signing up for Brave Rewards, you’ll be earning BAT (Basic Attention Token), which is a credible and successful crypto coin, and already trades in a number of pairs including USD/BAT. BAT is currently a top 40 cryptocurrency, trading at around $0.15 and has a market cap of over $200 million at the time of writing.
You will need to open a wallet account at Uphold to receive and store your BAT and link your wallet to Brave, but it’s a simple and secure process that Brave walks you through. Uphold has plenty of other functionality as a digital and crypto wallet, but you could just use it for this purpose and then transfer your BAT to another wallet, such as Coinbase, if you prefer.
Download Brave and start earning free crypto here.
Now let's look at how you can earn free cryptocurrency by mining on your smartphone.
2. XYO Network.
XYO is an ERC20 token, based on the Ethereum blockchain, which runs on the XY Oracle Network. XYO is particularly exciting as it can be mined on a smartphone, via the COIN app, enabling users to earn free cryptocurrency. With the COIN App, you can geomine as you go about your day and earn COIN tokens in exchange for providing anonymised location-based data to the XYO Network. XYO operates a decentralised network of devices that anonymously collect and validate geospatial data, i.e. data with a geographic component. At the centre of the system sits an exciting new cryptocurrency that incentivises the ecosystem - the XYO Token.
The digital coins earned in the COIN app can be exchanged directly for XYO once a minimum balance of 10k coins is reached. XYO is traded on a number of crypto exchanges, including KuCoin. Once you reach the minimum balance, you’ll need to have an account on an exchange such as KuCoin which lists XYO. Register with KuCoin here.
XYO is definitely one to follow. If you want to earn more free XYO cryptocurrency, it is worth investing in a little gadget called a Sentinel. By using the Sentinel, your mining rate will be exponentially increased by 12x. The COIN app also offers paid premium plans, which further enhance your mining rate and rewards.
Click here to download the COIN app and start mining free XYO cryptocurrency.
3. Pi Network
Pi is another new and exciting project in the crypto space that allows users to mine its native Pi tokens free and at low energy on their smartphones. The Pi Network has been developed by a group of Stanford PhDs and is still in beta, so it’s a great time to get in early. They have just moved to phase 2 by launching testnet and it is expected that Pi will soon be used for commercial purposes as apps and dApps are developed on the platform.
Pi’s mission is to build a cryptocurrency and smart contracts platform secured and operated by everyday people. As the world becomes increasingly digital, cryptocurrency is a next natural step in the evolution of money. Pi has positioned itself as the first digital currency for everyday people, representing a major step forward in the adoption of cryptocurrency worldwide.
The Pi core team set out to build the world’s most inclusive peer-to-peer marketplace, fuelled by Pi, which they hope will become the world’s most widely used cryptocurrency. That explains why they found a way to allow everyday people to mine Pi and earn cryptocurrency rewards for validating transactions on a distributed record of transactions.
Currently Pi tokens cannot be traded and have no market price as the network is still in beta. However that will soon change and the economic model plans to strike a balance between creating a sense of scarcity for Pi, while still ensuring that a large amount does not accumulate into a very small number of hands (like Bitcoin!). Pi wants to ensure that users earn more Pi as they make contributions to the network. Pi’s goal is to build an economic model that is sophisticated enough to achieve and balance these priorities while remaining intuitive enough for people to use.
In contrast to Bitcoin, which created a fixed supply of only 21 million coins for the entire global population, Pi creates a fixed supply of Pi for each person that joins the network up to the first 100 Million participants. In other words, for each person that joins the Pi Network, a fixed amount of Pi is pre-minted. This supply is then released over the lifetime of that member based on their level of engagement and contribution to network security. The supply is released using an exponentially decreasing function similar to Bitcoin’s, over the member’s lifetime.
In summary, Pi makes crypto mining easy. Breakthrough technology allows you to mine free crypto on your phone without draining your battery. Furthermore, if you spread the word and set up a network of trusted friends who are also mining Pi, it increases your mining rate. All you need is an invitation from an existing trusted member on the network. As a reader of Crypto On-Ramp, you can join the Beta and download the mobile app here and start earning today! Use the invitation code RtDavies05081219
Finally, let's look at how you can earn free Bitcoin and other cryptocurrencies on Coinbase.
4. Coinbase Earn
Coinbase is a serious player in the crypto world – the leading digital currency exchange headquartered in San Francisco, California. Founded in 2012, Coinbase is a digital currency wallet and platform where merchants and consumers can transact with new digital currencies. At the time of writing, Coinbase offers 18 different cryptocurrencies on its exchange (including Bitcoin, Ethereum and Litecoin), broking with fiat currencies in approximately 32 countries. Coinbase provides Bitcoin transactions and storage in 190 countries worldwide.
If you’re looking for a blue chip, safe and easy ‘on-ramp’ into cryptocurrency, Coinbase is the perfect place to start. It’s easy because you don’t hold your own private keys – Coinbase is effectively like a custodian and bank for your crypto.
How you can earn free Bitcoin?
As a starter, you can earn free Bitcoin with Coinbase by opening an account from a referral. Once you open your account and buy or sell $100 USD or more (or 100 USD equivalent of your domestic currency) within 180 days of opening the account, you and your referrer will both receive a 10 USD (or 10 USD equivalent of your domestic currency) referral bonus in Bitcoin when the order completes. Open your account with Coinbase and receive free Bitcoin once you trade here.
Once you have opened your account with Coinbase, you are eligible to participate in Coinbase Earn, where you can earn free crypto assets in exchange for learning about the featured cryptocurrencies.
Why does Coinbase Earn give away free cryptocurrency?
Education is believed by many to be one of the main obstacles to cryptocurrency adoption and development. Coinbase Earn allows anyone to learn about different cryptocurrencies via educational content. To kickstart the movement, Coinbase acquired Earn.com in April 2018 but has since migrated everything in favour of its in-house developed platform, Coinbase Earn. Coinbase claims that the project “has allowed nearly a million unique users in 115+ countries to earn their share of hundreds of millions of dollars in crypto.” This means millions more people now have a trusted, safe and legal bridge to the crypto economy - even if they don't have a credit card or bank account with which to buy cryptocurrency.
How can I earn free cryptocurrency with Coinbase Earn?
Eligible Coinbase users are able to unlock lessons on top of the content where they can earn crypto. The content provided on Coinbase Earn is intended for educational purposes only and does not constitute financial or investment advice. You can currently earn the following cryptocurrencies free on Coinbase Earn: XLM, ZEC, BAT, ZRX, EOS and DAI.
If you are logged into your Coinbase account and eligible (your country of residence is a factor), you will be able to start earning crypto immediately. Just start the course. Every time you watch a video from the course, you have to answer some simple questions which are related to that video. Once complete, you will receive an amount in that specific crypto in your account. The amount of cryptocurrency you earn for completing a task is based on the USD spot price of the cryptocurrency at the time of earning. While the total number of tokens you've earned stays the same, the dollar value may fluctuate as the price of the cryptocurrency changes.
You can even earn additional crypto on certain Earn opportunities by inviting others to Coinbase Earn via your own referral link.
*Note that Coinbase Earn is only currently available on the web and the Android mobile app.