There are different types of cryptocurrencies in existence today, some more valuable than others. But what exactly are they and how can you lay your hands on them?
In this blog, you will learn a bit about cryptocurrencies and I will share with you how I go about getting them for free (links and descriptions included). Whilst I’m not promising to make you extremely wealthy overnight, I will help you get on the wealth ladder for a form of wealth which is here to stay, so that in the longer term you can amass a wealth of cryptoassets.
ATTENTION: We are giving out FREE airtime
What is a cryptocurrency?
The word is derived from two words; crypto meaning hidden and currency. A significant amount of tech underpins the various processes involved in cryptocurrency transactions, ranging from transactions record keeping, funds transfer, and maintaining anonymity.
Unlike conventional currencies (or fiat currency) cryptocurrencies only exist electronically and use peer-to-peer systems to effect transactions. This means there are no central banking systems or government regulations to manage your affairs, and you have more control of your assets. There is a lot more about this technology that I am not going to cover in this blog, but the internet is riddled with information on this subject so feel free to read this up.
Today, you can use cryptocurrency to pay for things online, although it’s use is quite limited today. However, there is ongoing development to make cryptocurrency easier to use. That is why many people today are holding them as investments as their value will rise in the future.
How can you get your hands on cryptocurrency?
There are two ways to get your hands on cryptocurrency: the easy and expensive method, or the free way.
The first method involves using your fiat currency (cash) to purchase cryptocurrency via platforms like bitpanda etc. This is very easy as long as you have the cash. All you need do is to open an account with a bitcoin exchange like bitpanda, deposit your cash and buy cryptocurrency from there. You just need to wait for the value to appreciate or depreciate as the case maybe.
The second, the free method is my favourite. There are two ways to get free cryptocurrency. The first is via a process called mining, and the other is via faucets.
Now I’m not going to go into details about how mining works, but it involves using the processing power of your computer to solve some complex problems and you get rewarded for it. Obviously the more powerful your computer, the more currency you are able to mine. The rate at which you mine cryptocurrency is called “hash rate”. Some people invest in specialist mining equipment to give them higher hash rates. Personally I wouldn’t invest in mining equipment as I like to get things for free (I mean who wouldn’t?). This takes me to my favourite method, the use of faucets.
Similar to mining, a faucet is a reward system whereby a user is given free cryptocurrency for completing some simple tasks. However, unlike mining, the rewards are much smaller and so it takes longer to build up your cryptocurrency account balance. I consider this risk free as there in no capital outlay required for this method. You can even do it on your phone! As long as you have an Internet connection.
I have been using faucets for a while now and found that you can build up your balance over time. Like I said earlier you need to be thinking longer term as cryptocurrency will become more acceptable.
There are thousands of faucets out there, but unfortunately, not all of them are genuine. As promised, I’ll share a guide on how you can claim using faucets and also provide you a list of some of the faucets that I know are working.
Here’s a guide the method I’ve been using:
Step 1: get a micro wallet.
To do this, I registered with CoinPot. I found them to be reliable. You can use the link below to get registered.
Another good microwallet platform is faucetpay.
Step 2: Find a faucet and Link your microwallet.
Once you have a microwallet account, you can search for different faucets out there and link the faucets to your account using the address provided by the account provider. Note that for CoinPot, you only need to provide the email address used to create the microwallet and it automatically links your microwallet to the faucet.
Different faucets exist for different cryptocurrencies. Below are some faucets I use:
I particularly like the faucets above because they have referral programs and reward systems which allow you to easily multiply any cryptocurrencies you claim. Other faucets I have tried that work with CoinPot include:
Grab(only works with faucetpay)
Step 3: Start collecting
Once you have linked your faucet to your microwallet, you can start collecting cryptocurrencies at regular intervals and cash them out from your microwallet.
Well that’s all from me folks, I hope you found this useful. Good luck and start making money online!