3 Ways To Get Crypto Coins for Free With a Little Investment

Everyone can make money with cryptocurrency with little investment. What people don’t tell you is that it can be a slow tedious process just like in any other industry, and one should be committed to see long term success. Depending on what method you are planning to use, it will cost you time, money and plenty of effort to get your passive income stream running.

Please note that these methods are by no means full proof nor do they guarantee ROI. That being said, I’ve put together a guide of 3 ways you can earn cryptocurrency for free with a little investment on your part.

1. Mining

One of the most popular ways to get cryptocurrency is mining at your home with your pc or a dedicated pc or even a mining rig.

Mining has become a competitive field and your standard desktop PC or laptop simply won’t cut it. You will need to spend some initial capital on a high-end pc and some additional GPU for it to be profitable and it will take you a couple of months to break even with your hardware investment because the earnings on mining can be slow sometimes.

Because of the costs involved, mining crypto yourself is only recommended if you have access to cheap electricity and a powerful network connection.

Here’s a cheat sheet on what you will need to mine cryptocoins:

• A coin wallet
• Free mining software package
• Membership in a mining pool
• Membership at an online currency exchange
• Reliable internet connection
• Hardware setup location
• Custom built computer
• ATI Graphics Processing Unit (GPU)

2. Holding Crypto When a Hard Fork Happens

Relatively speaking this is the “safest way” to earn crypto. All you need to do is buy an amount you feel comfortable with investing in a certain coin and just hold it for a year. If the coin is one of the more promising cryptocurrencies it will most likely to increase in value from the price you bought it in at.

Simply, a hard fork is when a single cryptocurrency splits in two. It occurs when a cryptocurrency existing code is changed, resulting in both an old and new version. Meanwhile, a soft fork is essentially the same thing, but the idea is that only one blockchain will remain valid as users adopt the update.

Hard forks are embraced by the community because of the ‘issuance’ of ‘free’ coins.  The duplication of the chain due to the hard fork entitles holders of the old chain to receive new coins from the new chain. There are several methods of obtaining these forked coins which include (but aren’t limited to)

• Receiving them via airdrops
• Pointing one’s respective node toward the new forked network
• Distributing the private keys to the new network

Be responsible and do your due diligence, don’t simply buy a coin because someone promoted it to you. Have a look at information like the coins whitepaper, roadmap, follow them on social media, check out the circulating supply, market cap and daily volume on popular exchanges.

3. Run Masternode

So What’s a Masternode? Masternode is simply a cryptocurrency full node or computer wallet that keeps the full copy of the blockchain in real-time, just like your have Bitcoin full nodes and is always up & running.

These masternodes are not standalone but they are always communicating with other such nodes to make a decentralized network and are often referred in short form as MN.

Here are some of the special functions that these nodes can do:

• Increasing privacy of transactions
• Doing instant transactions
• Participating in governance and voting
• Enable budgeting and treasury system in cryptos

For you to be able to run masternodes, there is an entry barrier in place to ensure that the system doesn’t get malicious. The entry barrier is what one needs to commit or collateralize certain units of that particular cryptocurrency to run a masternode.

This is done to ensure that a masternode owner doesn’t cheat or corrupt the system and the best of doing so is by putting this entry barrier where the masternode operator has something at stake in the whole game.

Final Thoughts:

While profits are never guaranteed when trading, you can take steps to protect yourself from heavy losses and to improve your understanding of how markets move.

Cryptocurrency is a highly volatile market. You can make money, and you can lose money. Therefore, do NOT invest more than you’re willing to lose.