Honestly, who doesn’t like free stuff? Especially when it’s a digital currency that could potentially be worth big bucks one day! However, before you get too excited, the fact is that most tokens will never be worth what a coin like Ethereum or Bitcoin is. Still, tokens don’t need to be worth thousands of dollars for you to make some free money on them. If you were to receive 10,000 free tokens and one day those tokens were worth just $0.10 USD/each – you would have made a $1000 profit at little or no cost. Although four and five figure prices might be a far reach for any free token you might earn, something like $0.10 USD is most definitely not. We can find proof in this theory just by looking at the Stellar Lumens (XLM) coin. A few years ago the website Blockchain.com ran a promotion where new users received $50 USD in free XLM just for signing up and completing the KYC process. XLM was trading between $0.08 and $0.12 USD at the time. Today, even after the markets recent downtrend, Stellar Lumens (XLM) is still trading around $0.40 USD. Those who took advantage of the offer and held their coins would have already made roughly $200 in free money within just a couple of years. With that in mind, although you might not make millions from them, taking advantage of free token offers should still be well worth some of your time.
So, how do you actually get free tokens online? The answer to that question is, several ways. There’s more than just one method to getting free tokens on a variety of different blockchains, with Ethereum and Binance Smart Chain being the two most common. Listed below are 4 that I have used personally, and you can start using to get free cryptocurrency tokens online with as well!
Airdrops are one of the oldest and most common ways of getting free cryptocurrency tokens online. The process of getting free tokens usually involves completing tasks which cost you nothing, such as following the token creators Twitter page and joining their Telegram group, and then waiting until the distribution date to receive them. There are several good things that come with claiming airdrops. First, they cost you nothing more than some of your time. Assuming you have the most common social media accounts (Twitter, Discord, Facebook, Telegram), all that is usually required is for you to do some sharing and then wait. Another positive to airdrops is that while you’re sharing, so are thousands of other people. This gets the coin lots of exposure and it’s value could already be $0.10 USD or more by the time it lands in your wallet. While all of that is great, there are also a few downsides that come with airdrops, like scams and pumps. Since a token is getting lots of exposure via retweets and invites during the airdrop period, some creators will run presales or ICOs at the same time. This can lead to the coin being worth a small amount when you receive it, but then quickly going down as lots of airdrops participants immediately dump it after receiving. If that happens, you may find yourself with a coin that was worth $0.10 when it landed in your wallet, and then quickly drops down to $0.01 or something shortly after. This doesn’t only affect the profit you could have made from the token, but it’s also bad for the investors who got in during the presale or ICO phases. Along with that, airdrop scams have become more common these days. Anyone can start an airdrop with a Telegram bot and that has led scammers to start them, build up social accounts (sometimes even using the names of other tokens), and then not giving anything out in the end. Scammers who do this can quickly build up social media accounts from the sharing and inviting that’s happened after running their airdrop for several months. They will then use those built up accounts to advertise or do other sketchy things later on. But overall, airdrops can be a great way to get free tokens, and it’s still one of the most popular. Just make sure you do some research first to verify the airdrop is actually legitimate.
Much like an airdrop, selfdrops are another great way to score free tokens on the web! Of the four methods listed in this article, selfdrops are probably the newest, and they’re most common on the Binance Smart Chain and Ethereum blockchains. Unlike airdrops where you would complete tasks to earn free tokens, selfdrops require you to send an amount of 0 to the tokens contract address, which will then initiate the transfer of the tokens. As mentioned above, for someone to get free tokens from an airdrop they must complete all of the required tasks and then wait for the distribution date. However, for someone to get free tokens from a selfdrop they just initiate a transfer of 0 from their wallet and then the tokens are instantly sent back to them. While this method is free because you are paying nothing for the tokens, initiating the transfer does mean you’ll have to pay the gas fee. Thankfully, gas fees are pretty low right now. For example, claiming one selfdrop on the Binance Smart Chain tonight would only cost you about $0.30 USD. Pros that come with the selfdrop method is that you won’t get scammed because the token creator isn’t getting anything from you. They don’t get the gas fee you paid (that goes to the blockchain) and they don’t get any type of share or invite out of you. On top of that, you get your tokens instantly which means you won’t have to wait months like you do with airdrops. The only real downside to the selfdrop method is that you must pay the gas fees. For those who have absolutely no ETH or BSC, this method is not an option unless they can get some ETH or BSC in their wallet first. One simple way they can do that is by using the next method listed!
Much like the initial airdrop method, crypto faucets are also one of the oldest ways of getting yourself free digital currency. The process is normally very simple: visit a website (you may be required to log in), click a button, and receive free coins. Most faucets target large coins as opposed to small tokens. Faucet websites usually offer Bitcoin, Ethereum, DOGE, Tron, Cardano, and other blockchain coins. Lots of faucets determine how much crypto you get by random. For example, a website might have you click a button that generates a random number. If that number is exactly 10000, you get $30 USD. If that number is exactly 9998 or 9999, you get $3 USD. If that number is exactly 9995, 9996 or 9997 then you get $0.03 USD. If it’s anything below that, you get $0.003 USD. This is just an example, but the idea is that you can win different amounts at any given time. Most faucet websites will let you login to claim your free coins multiple times per day. But keep in mind, the odds of you winning a big amount are very slim. Pros that come with faucets are that they’re popular coins. It might take you a while to build up a decent amount of them, but they’ll be easily tradable whenever you do. On top of that, it’s completely free and you pay no gas fees (although the faucet will likely charge you a small fee when you go to withdraw). Downsides to using a faucet are ads and length of time. These faucets give out free coins and they need to make that money back somehow. That’s done by displaying lots of ads across their website. When using these sites, be prepared to close some annoying ads and popups. On top of that, you’ll be earning very little each time you claim unless you get lucky enough to hit a big amount. Think about this, in my example above you would likely be earning $0.003 USD each time you visit. Do the math to see how many spins it will take for you to reach $5 or $10 USD. At the same time, someone has to hit those big amounts every now and then, and it could eventually be you!
Whether it’s being called a lottery or a giveaway, it is exactly as it sounds. Giveaways are when a token creator decides to give out a certain number of tokens to a certain number of winners. Entering a giveaway can be as simple as entering your email, or you could also be asked to complete other tasks as well. One great example of this would be the Good Luck Token giveway. As you can see, the token gives a specific end (July 14, 2021), a specific number of tokens (1000) and a specific number of winners (10). Giveaways can be great because most of the time you won’t be asked to do any other tasks besides entering. Along with that, giveaways are usually for larger amounts of tokens. An airdrop might only be giving out $10 USD worth of free tokens, while a giveaway might be offering $100 USD worth. The downside is obvious, being that only a certain number of people will actually win. A giveaway might only be awarding 10 people with free tokens, while it has 10,000 who have signed up. Still, for as quick and simple as many of them are, it could be worth your time to join some. Once the giveaway ends and winners are selected, the token creator might offer consolidation prizes to everyone else!
Keep in mind, most of the tokens you get by doing airdrops and selfdrops are ones you will have likely never heard of before. Don’t hesitate to spend some time researching them to determine if you think they are worth your time or gas fees. Remember, you don’t have to go around claiming every single free token offer on the web if you don’t want to! Faucets are the ideal choice for someone who only wants to get free cryptocurreny that most people know and have heard of before (BTC/ETH/LTC..etc). However, these also accumulate very slowly and it can take you a long time just to make a few bucks. Try one (or all) of the methods above right now to start expanding your blockfolio with free tokens that could potentially make you some free profit in the future. Remember, when you get it for free the only way it can go is UP.