March 25, 2020
A step-by-step guide to building free revenue streams in blockchain
Most new entrants into the crypto markets know that buying your favourite coin via an exchange or mining it through your computer is likely the easiest way to enter the cryptocurrency market, however there are other ways to obtain coins without spending a penny.
There is an astonishing amount of wealth distributed in this industry and this article will cover the main methods that can be used in order to obtain free crypto.
We remind readers that most of these methods require a bit of effort, since your time is never free. However, these methods do not require to work for more than a few minutes, nor do they require any financial investment from your part.
Earning Free Crypto via Airdrops
Airdrops are one of the simplest and most effective methods of earning extra cryptocurrency, especially in for new projects. The airdrops is usually a coin or token for the project, or in certain cases can be Bitcoin. The idea behind airdrops is a simple and effective marketing strategy, allowing new entrants to obtain the projects cryptocurrency, whilst allowing the project to acquire a user base.
Getting involved in an airdrop is very quick and simple. All you need is a wallet for the currency being airdropped, an email address, a Twitter account and a Telegram or Discord account.
Once these criteria are met, you will have to look for projects that have announced an upcoming airdrop. One such place users can search is Airdrops.io which lists a huge range of active airdrops, the amount being given away and what tasks are required to successfully enter.
Most platforms like this will require you to sign-up, by entering your ERC-20 address, social media handles and email. Users can then receive updates with the latest airdrops and spend a hour or two a week going through any recent airdrops.
Recently, AML regulations have made it mandatory for numerous airdrops to request that participants enter their personal information when entering an airdrop. As a result, if you are not keen on sharing your information, airdrops might not be the best choice for you.
Overall, airdrops are a great way to get free crypto for very little time and effort, with users able earn airdrops by spending no more than one or two hours a week. Although the rewards are very low at the time of entry, it only takes one successful airdrop to make it worth the time. I personally know someone who made just over 10BTC on one airdrop alone in 2017.
The Earning Potential of Affiliate Marketing and Referrals
This is currently know in crypto as “shilling” and is often one of the most overlooked passive streams of income in the whole industry. It is worth looking at the most successful “shillers” in crypto and following their recipe for success.
Affiliate marketing represents a significant revenue stream for numerous individuals, especially those who are quick to exploit new opportunities.
One of the best in the industry is the Twitter user @CryptoBull who is well known for his affiliate marketing skills and hustle.
Getting involved is simple, with the only requirements being an account with the company being promoted and a personalised link to share with the world.
Any exchange trading, service or product that occurs using your affiliate link or referral code means you will be credited with a percentage of the sale.
The possibilities are endless. Your success depends directly on the size of your audience and your overall online reach. However, this means that actual work needs to be carried out in order to get this free crypto. On the other hand, once your links are live, affiliate marketing becomes a lucrative source of passive income, which can be leveraged for a prolonged period of time.
To put things into perspective, here are several crypto-related affiliate campaigns:
- Bitmex: One of the most lucrative affiliate links in the whole industry, Bitmex pays out 10% commission on the trading fees for any successfull referral. Due to its casino and gamling like nature, users often get hooked on the platform meaning affiliate payouts are ongoing.
- Trezor: this platform offers 10% of net sales carried out by users who have signed up using your referral.
- CryptoTaxTrader: this affiliate program promises to credit 25% of all sales.
- Coinigy: you can expect to earn $15 per successful referral.
- Binance: The largest altcoin trading platform offers a generous 20% commissions on transaction fees and also allows you to share this commission with the user that signed up. So you could split this into 10% for each user or 15% for yourself and 5% for the user.
For a detailed list on affiliate rates and bonuses paid by the top crypto exchanges you can check out the table here from Proof of Review.
As you can see there are hundreds if not thousands of crypto-related affiliate opportunities on the market at this moment and these and only growing as the industry matures.
Given the fact that your income is paid in crypto, the earning potential is further increased by crypto price volatility.
Leveraging Bounties for Free Coins
Bounties are very similar to airdrops, as they also represent coins given away by crypto projects. The key difference is that bounties usually require some element of work for you to receive the coins.
The main types of bounties are
- Bug bounties
- Social media, images, blog posts and video bounties
Other Free Crypto Offers
There are a host of companies giving away free crypto and we will bringing you a series of articles in our Stacking Sats Saturday series to help you get free crypto every week.
With the growth of giveaways has come the scourge of the free giveaway scam that plagued Crypto Twitter for well over 2 years.
For those readers who are not familiar with it, scammers impersonate well known Twitter accounts with similar usernames and then proceed to spam with reports of free Ethereum or Bitcoin.
Readers are reminded that if someone sounds to good to be true, if often is. We suggest that you use your common sense and never send anyone money if they offer crypto in return.
Similarly, you should never give out your personal details or private keys to third parties for airdrops, signups or bounties.
If you have got this this point we hope you realise how many opportunities there are for you to earn free crypto in this industry.
There are hundreds, if not thousands of offers that you can take advantage of, with most of these requiring very little work. We recommend that anyone can dedicate one hour a week towards earning free crypto and see how it goes after 6-12 months.
Our experience in this industry tells us that you are guaranteed to do well if you just stick at it.
If you are serious about this and can dedicate a few more hours a week, it is easily possible to build sustainable short term and long term revenue streams.