There are a few ways to earn free digital assets. I know what you’re thinking: too good to be true, right? Not really, getting things for free isn’t a new concept. For example, some banking establishments offer cashback when shopping at certain places. So, why shouldn’t you be able to earn digital assets for free too?
You need to evaluate all opportunities for free digital assets, however, before participating and reaping the rewards. There is always some form of forefront work with legitimate offers, so be wary of unsolicited offers. Think, study, and then decide.
Free digital assets
We have compiled a list of ways you can earn free digital assets, read on and find which way works best for you.
Referral and signup bonuses
This is probably the easiest way to earn those free digital assets. Some exchanges offer signup bonuses or referral bonuses, sometimes both. Keep an eye out for the best deals, look around and see which you like the look of the most.
Signup rewards usually offer something, in this case, a token or money for a token when you join. For example, Coinbase previously had a signup bonus where they offered $5 to new users to invest in digital assets.
Referral bonuses entice users to refer their friends and the exchange offers you both a reward for using the platform. Coinbase currently offers a $10 bonus to both you and your friend when they create an account and trade at least $100.
You must read the terms and conditions, as not everything is what it seems at face value. Etoro offers a signup bonus of $250, this sounds incredible and it is. To be eligible for the reward, however, you need to deposit $5000 into the exchange, not a bad reward if you’re considering investing!
Airdrops
Some exchanges like to reward their users with digital asset airdrops. These come with no strings attached and act as a gift. Many platforms share these airdrops to gain traction for their exchange and tokens. You can look online for these airdrops and you’ll usually find them promoted on company websites. Alternatively, check message threads on popular platforms like Telegram where users often talk about upcoming Airdrops. They may even be reported in digital asset news too.
Interestingly, the first major airdrop of DeFi digital assets was made by Uniswap when the platform airdropped 400 UNI tokens to each wallet connected to the platform.
You have to be careful when searching for airdrops as they can potentially come with a risk. Fake airdrops and ICOs are common scams used by hackers, so do your research first and make sure you’re only involved in legitimate exchanges. We recommend you stick with well-known, trusted tokens to begin with.
Staking
You can earn interest by staking on some digital asset exchanges. Staking means leaving digital assets in your wallet to earn rewards or interest. By doing this you’re helping maintain the blockchain network the tokens run on.
You can stake digital assets on exchanges like Gemini. The platform allows you to stake Ethereum on the ETH2 network, thus allowing users to earn around 7% interest paid in Ether.
You can also stake BXX, the token powering the Baanx ecosystem, directly from the Baanx App to earn interest and receive rewards.
Shopping rewards
You can earn digital assets through your spending in a similar way to cashback and rewards programmes offered by highstreet banks.
Lolli is a browser extension for Google and Firefox that offers you ‘Bitcoin Back’ when you shop with its retail partners: Nike, Sephora, Malaysia airlines and more. These rewards vary from 1% up to 30% Bitcoin back depending on the retailer. Rewards are held in your Lolli account, you can transfer them to your digital wallet or exchange account.
Lolli is currently only available in the US but is set to be launched worldwide. You can sign up to be put on a waiting list here.
Earn while you learn
Have you ever played a mobile game where it asks you to watch a video to unlock something or gain crystals for your gameplay? This way of earning free digital assets works in a similar manner. Exchanges ask for your time to interact with their content in exchange for digital assets.
Coinbase offers incentives to users for using the platform’s Learning hub. They encourage you to watch videos and participate in quizzes and in return you receive digital assets. The content is typically focused on specific altcoins such as CLV, AMP, GRT and more. You will earn these through the lessons and you can convert them into any other digital asset supported by the platform.
Remember that all digital assets you invest in, earn or hold should be reported as taxable income. Even the free ones you earn need to be reported to ensure you are in compliance with the latest regulations.
Learn more about Baanx, BXX, and join the conversation
Check out the Baanx App on either Apple or Android. You can buy, sell and transfer digital assets right from your smartphone. The Baanx ecosystem is powered by our BXX token. Find out more information on how you can get involved in the links below:
Buy BXX on Uniswap
Buy BXX on MEXC
Come join the conversation and be a part of the community.
