With most coins and tokens currently trending downwards, we’ve put together an article looking at the best opportunities to earn some free money while you wait for the fortunes to reverse.
Without further ado, here are the 5 best opportunities this month:
Launched during the height of cryptocurrency hype and price spikes in December 2017, CoinEx quickly made its way into headlines when they launched their own token and a controversial, albeit effective, PR stunt to go with it.
Starting July 1, CoinEx stated that users who hold a minimum of 100 CET (CoinEx’s native token) would receive a proportion of 80% of the exchange’s daily transaction fee income. Apart from this, under their “trade-driven mining” method, 3.6 billion CET are to be allocated for free to CoinEx users.
The move was criticized by Zhao Changpeng, the CEO of Binance—one of the world’s largest exchanges, saying it’s a new ICO in disguise. But users jumped into CoinEx anyway, as demonstrated by the period when it overtook Binance in trade volume over a 24-hour period.
Referral programs are one of the most common ways new cryptocurrency exchanges–and cryptocurrency projects in general–promote themselves. And Coinbase, being one of the biggest names in the crypto world, didn’t get to where it is now without a good grasp of incentive structures.
Users earn $10 in bitcoin for referring others, provided the referred user buys or sells at least $100 of bitcoin through the platform. Both the original user and the new user they invited gets the incentive. This kind of motivation has become widespread, and similar referral programs have been adopted by other exchanges as well.
As a newcomer in the space, BitAsset is making ripples in the crypto-pool. On August 8, the Hong Kong-based exchange announced that all transactions over the network would be free of charge from August 10 to September 7.
To top it off, they say that there are “mysterious grand prizes,” pointing to a “gifting campaign” that will run from August 10 until August 25. According to their post on Zendesk, 160,000 USDT will be divided amongst the top ten users. First place gets 40,000 USDT, second place gets 30,000 USDT, third place gets 20,000 USDT, and the next seven in line each get 10,000 USDT. Winners will be announced daily.
Although prizes and Airdrops are well-sought after by cryptocurrency enthusiasts around the world, slashing commissions proved to be enough to amass over a million sign-ups for Robinhood’s waitlist.
In January 2018, Robinhood announced its zero-commission trading, saying they can do this because unlike other platforms, they prefer to spend their money on directly benefiting their users rather than purchasing expensive ad spaces. Throwing shade on E*trade’s Super Bowl expenditures, they wrote:
“Other brokers have brick and mortar stores. They spend millions on Super Bowl ads—Robinhood doesn’t. And the savings are passed on to you.”
Purse is a cryptocurrency ecosystem through which users can make online purchases using Bitcoin (BTC) or Bitcoin Cash (BCH). Although they’re not an exchange, Purse also offers some perks; you get a 15% discount when you shop with Bitcoin (BTC) or Bitcoin Cash (BCH) on Amazon.
How this works is that they match shoppers with “earners,” people who own Amazon gift cards and are willing to trade them for cryptocurrency. Shoppers can “name their discount,” although the lower discount they require, the more likely their orders can get matched.
And, no. We’re not talking about those scam giveaways on fake Vitalik Buterin accounts on Twitter or Facebook. There are usually Airdrops going on since new projects are always looking to expand their following. Airdrops have proven to be quite effective in getting everyone’s attention because who doesn’t like free money? Apart from consolidated lists of ongoing Airdrops, people can check out individual projects from well-reputed websites like ICObench too. There’s also a dedicated Reddit channel called r/cryptogiveaways.
But as is standard in this space, people are expected to be responsible for doing background checks on the projects they get involved in, and to make sure these projects do not gain access to sensitive information that can be used to access their other legitimate accounts. It’s always a good idea to use different emails and passwords than the ones connected to other accounts.