Cryptocurrency has increased its value day by day. Many people are looking for opportunities for getting cryptos for free.
Crypto assets such as Bitcoin can be likened to gold due to their value in the financial system. Many who can’t buy the top crypto assets go for the small-cap altcoins.
If you can’t get your hands on these crypto-assets because of money, then you can still hold some without a penny.
In this post, we’ll look at how to earn a free token. Before then, let’s learn more about crypto tokens.
What is a Crypto Token?
A crypto token is a type of cryptocurrency that represents an asset or specific use and resides on its own blockchain.
A token can be used to fundraise for crowd sales, but they can also serve as a substitute for other things. Tokens can be used for investment purposes, to store value, or to make purchases.
These tokens are usually created, distributed, sold, and circulated through the initial coin offering process. This involves a crowdfunding exercise to fund project development.
Its holders can use them to make purchases or they can trade tokens just like other securities to make a profit. Token holders can also be part of company’s decision maker as some project allow holders to be part of it’s governance.
Why People want Crypto Tokens
Bitcoin is no doubt top of most crypto enthusiasts wish-list. Other cryptocurrencies also are profitable and has made many to make them a want.
Listed below are some of the reasons people want to hold or trade i.e. buy or sell crypto tokens.
1. Distrust of the financial system– Bitcoin came to be after the global financial crisis of 2007/8. It was proffered as a solution to the reckless behavior of large financial institutions & the inability of government to regulate them.
The advantages digital currency have over the traditional forms of money makes it one to consider for the people. Money laundering, for example is less common than cash currency.
As there has been a huge sense of distrust of the financial system, crypto assets, which are decentralized therefore look like what to try out.
2. Make quick money– Many people want to trade crypto tokens as it is seen as a way of making quick money. The unstable price of crypto assets have made many to study its market in order to make a fortune.
Many who bought Bitcoin in the early days became millionaire overnight. There are a lot of stories of ordinary people and early investors who made their fortune in BTC with relatively little initial investment.
In Africa where there are issues with the financial institution as well as poverty ravaging the land, people trade cryptocurrency to gain financial freedom. The continent, for this reason have the largest population of P2P users in the globe.
3. New financial plans- People now focus on Bitcoin and other crypto assets because of its new uses of financial alternatives. These programs are called DeFi (decentralized finance).
Some of the top DeFi programs offer innovative approaches to peer lending. In other decentralized system, users can lend any amount, without putting these funds under control. This is done automatically via smart contracts in blockchain.
4. Decentralization of crypto– Many crypto assets are decentralized. This means that no company, government or organization has complete control over the currency.
Some people really care about the decentralization which helps to send/receive money without the notice of banks & other financial institutions.
5. Hedge against inflation in a country-In Nigeria for example, many people pitch their tents with cryptocurrency to hedge against inflation. The high dollar in the exchange market has contributed to the ‘crippling’ economy, Many, therefore take to Bitcoin trading as solution.
Nigerians are listed top among the users of the leading crypto exchanges such as Binance, Coinbase, Kraken etc. Many people buy and sell bitcoin and several other alternative coins for this reason.
How To Get Free Token In 2022
The number of people into cryptocurrency has increased in recent times due to the success of Bitcoin and other assets alike. This has led to the creation of several altcoins who have their own unique characteristics as a digital asset.
If you can’t possibly get a crypto token buy buying or other means like mining, you can earn free todays. Today, some crypto exchanges and projects have made it possible to earn free tokens.
These ways are listed below in no particular order.
1. Learn and Earn
Some crypto exchanges like Coinbase makes it possible to earn free tokens. All you need to do is learn about a crypto project and earn thereafter.
Courses are uploaded on the crypto exchange sites. When you complete a course on this site, you are rewarded free tokens for taking time to do so.
2. Play Game and Earn
You can earn free tokens by playing virtual games. By playing and completing the levels of a game you can be a token holder.
What is sweeter than playing a candy-crush like game on your Android device or iOS to be a token holder? This is more than having fun right?
3. Airdrop
This is literally the easiest way to get free tokens and yes it works. But you need to be careful so you won’t get scammed.
You can earn free tokens as soon as a project drops. Some projects allow to earn by completing social tasks like sharing posts and tagging friends on social media platforms.
You can also earn this way by joining their discussions on its Discord, Twitter, or Telegram channels. You just need to keep abreast about an upcoming project to earn via giveaway.
Note that you stand a better chance of earning free small-cap altcoins than the top digital currencies. Nevertheless, you can earn very small amounts of BTC and other top cryptocurrency.
Also Read– 7 Things You Should Know Before Buying a Token
Conclusion
Cryptocurrencies are increasing in value day by day which has got many to have it on their wish-lists. Those cannot afford to buy crypto-tokens can still earn free tokens by doing simple tasks.
