To start investing in cryptocurrencies, it is not necessary to link a bank account or spend money (fiat) to buy bitcoins (BTC) and Ethereum (ETH). Another way to earn cryptocurrency and build a portfolio is to complete a variety of tasks on different Web3 platforms.
Using decentralized applications (dApps) and decentralized finance (DeFi) platforms, users earn cryptocurrency and then exchange, sell or store it in centralized or decentralized wallets without even spending money.
Let’s look at several ways to create a crypto portfolio without connecting a bank account.
Interaction with Web3 browsers
A person who is not versed in cryptocurrencies can be intimidated by the process of downloading wallets and performing transactions on the network. The alternative is to simply interact with technology, and there are currently several ways to experiment with different crypto platforms. One of them replaces Web2 technology with a browser-like Web3.
Google dominates the field of web browsers and search engines, making money from user usage by selling data to advertisers. Brave Browser is an alternative platform where users earn Basic Attention Token (BAT) and have full ownership of their data while searching. Users make money from their activity on advertisers’ websites, and Brave does not sponsor publications on search engines, which provides users with a more decentralized search.
Brave currently distributes 70% of its ad revenue and some users choose to sell their earned BAT on centralized exchanges or through Web3 wallets such as MetaMask.
Social Media Content Creation and Free NFT Mints
The popularity of NFTs continues to grow, and potential crypto investors can use various free software to analyze the wallet addresses of successful NFT investors who have minted high-value NFTs, and also try to find free NFT minting and whitelisting opportunities.
Colin Helm, CEO of the free Caesarverse metaverse, noted the importance of free NFTs in space:
“If users keep a close eye on social media and community channels, they can always find very generous giveaways, get some assets that enhance their gaming experience, and build their crypto portfolio just by playing the games they enjoy.”
Some users who worked with the free mining system generated NFTs that eventually reached the minimum level of 10 Ether.
How to do mobile cryptocurrency mining?
Just as NFTs require a social media base for advertising, new blockchains and protocols also require a huge amount of testing and user base to ensure sustainable growth at launch.
Some blockchains, such as Arbitrum, do not have a token, but the hint of a possible giveaway tends to draw users to the protocols in the Arbitrum ecosystem.
On September 6, 1inch users on Optimism received a 300,000 OP airdrop for using the pre-launch blockchain.
For users who do not have the technical knowledge to use new blockchains, social activity-based airdrops can be an easier way to earn cryptocurrencies. With social airdrops, users may have to follow, like and share certain social media accounts. Users will likely need to use a decentralized wallet like MetaMask to receive social airdrops.
Bug Bounty and Beta Tests
Many crypto and DeFi projects allocate tokens for marketing, bug-finding, beta testing, and content creation. Many crypto investors earn tokens through auditing, testing, brand design, marketing materials, music, and other content. Users willing to share their skills with crypto projects is the perfect way to get started.
Jenny “DJen” Schorsch, Founder of GlamJam, shared her experience of building a brand and getting started in crypto with no upfront costs:
“Start by creating value for the community for free. Once you have your community, you start making profits and assets along with it. I started using NFT to sell tickets and allowed Web3 companies to sponsor my favorite projects. Before I knew it, people were offering me cryptocurrencies for attending events.”
Although most users believe that a bank account and fiat currency are necessary to interact with blockchains and cryptocurrencies, this is not the case.
With a little effort, novice crypto investors can earn cryptocurrencies and NFTs with no upfront cost other than time.
The views, thoughts and opinions expressed here are those of the authors only and do not necessarily reflect or represent the views and opinions of Cryptooshala.
This article does not contain investment advice or recommendations. Every investment and trading step involves risk, and readers should do their own research when making a decision.
Credit : cointelegraph.com
