Our guide compares Ethereum vs Ethereum classic regarding their value proposition, investment potential, and market outlook.
- You can earn free Ethereum through risk-free methods such as referral rewards, sign-up bonuses, giveaways, and playing games.
- Use the free Ethereum by exchanging it for cash, participating in DeFi platforms, buying/selling NFTs, and engaging in ICOs.
What if you could earn free Ethereum, the second largest cryptocurrency behind Bitcoin?
Though many people are not aware of it, it is completely possible!
This article provides multiple popular methods to earn free Ethereum without investing your money or being exposed to risk.
How to Earn Free Ethereum in 2024?
Here are various several ways for crypto enthusiasts to earn free Ethereum:
Earn Ethereum through Sign-Up Bonuses
Sign-up bonuses are incentives for users when registering on a platform. Given the unfamiliarity with cryptocurrency for new users, these platforms provide sign-up bonuses as a motivation to explore its possibilities.
This is considered a win-win situation because the platform gets more users, and the users earn free crypto.
Being eligible for the bonus might require verifying your account by filling out the KYC or making an initial deposit.
eToro offers users a $10 sign-up bonus after signing up and verifying their account. The user needs to have purchased at least $100 worth of crypto to be eligible for it.
- 0.1 – 1%
eToro is a popular online trading platform for crypto assets, stocks, and ETFs, featuring low fees and a user-friendly interface. With a free eToro wallet and social features like messaging boards, users can copy experienced traders and access numerous assets. Take a look at what makes this platform perfect for starting your trading journey.
Provides an attractive, communal atmosphere.
Offers zero commission on ETFs.
Extensive selection of educational resources.
Mobile app with trading features.
Smooth account opening and bank transfer.
Limited number of cryptocurrencies.
Limited customer support.
No crypto-to-crypto trading pairs.
Follow these steps to get free ETH through sign-up bonuses:
- Step: Search and find crypto platforms like eToro offering free Ethereum
- Step: Log in and go to the promotions page.
- Step: Follow the instructions to get free Ethereum
Ethereum Faucets gives free ETH
An Ethereum faucet is a platform that offers the opportunity to earn Ethereum by doing specific tasks. This could include solving captchas, watching videos, and completing surveys.
The idea of crypto faucets helps to introduce cryptocurrencies to new users to get them into their ecosystem. These platforms are beginner-friendly and usually tailored for those starting their journey with cryptocurrencies.
Freeward is a free earning platform where users can complete surveys and watch ads that help to earn various cryptocurrencies, including Ethereum.
Expect small amounts of Ethereum tokens from these websites. However, these can add up over time.
Here are some steps to get started with Ethereum Faucets
- Step: Sign up to Crypto Faucet websites and verify their authenticity
- Step: Complete small tasks such as surveys to be eligible for rewards
- Step: Get rewarded for your effort with various cryptocurrencies and prizes
Earn ETH through referrals
Another way to earn Ethereum is through a referral program. You are rewarded by bringing new users to the platform.
The concept is that referral programs give free cryptocurrency after users sign up via your referral link. Meanwhile, other programs require new users to process a certain amount of transactions to qualify for digital money.
They are one of the most effective marketing strategies for crypto platforms, which is why many referral programs exist.
Binance has one of the best referral programs, offering a 20% to 40% commission on every transaction fee. The platform has made it seamless to join this program, along with fast real-time payouts.
Another lucrative referral program is Bybit, which offers a minimum 30% commission for recurring transactions.
Join referral programs by following these steps:
- Step: Sign up for a crypto platform that offers a referral program.
- Step: Go to the referral page and get your unique referral link
- Step: Share the link with your friends so they sign up
- Step: Earn rewards, including free ETH, once they sign up
Play-to-earn (P2E) crypto games are online games where people can earn cryptocurrency simply by playing games.
What makes them different from other games is that they are built with blockchain technology. A key aspect of these P2E crypto games is that the in-game assets are NFTs, and users earn cryptocurrency through these in-game assets.
There is a marketplace to buy and sell these assets so that you can earn money. The Play-to-Earn(P2E) model allows gamers to earn rewards based on winning tournaments and challenges.
Some of the best P2E games in the world based on the Ethereum blockchain include The Sandbox, Axie Infinity, and Decentraland. These three games have a large network of players and offer valuable in-game assets that can be exchanged for Ether(ETH).
Participating in Giveaways
Crypto giveaways are a great marketing strategy used to increase the visibility of the project and create an engaged community. It’s also a great way to earn more Ethereum!
These giveaways give free Ethereum tokens to users who follow social media or join the Discord channel. Many crypto projects also have a list to participate in the giveaway. These lists help qualify the users who have fulfilled the requested actions and give some exclusivity.
For example, Ubisoft is offering the chance to earn free Ethereum NFTs in their giveaway for their game called Champions Tactics.
You can follow the steps below to participate in giveaways:
- Step: Find Ethereum giveaways by joining social media pages and Discord groups where announcements are made.
- Step: Complete small tasks to be eligible for giveaways (following their social media handles and joining Telegram groups).
- Step: Provide your Ethereum wallet address to redeem the giveaway rewards.
Staking means locking cryptocurrency to earn a return while securing the blockchain through the proof-of-stake consensus mechanism. It can be considered as a form of cryptocurrency savings account.
Staking helps the Ethereum network run better by making it more scalable, energy-efficient, and secure. People who stake ETH become known as validators. The network picks validators randomly to confirm transactions. When they do this, validators get rewards.
The rewards are based on the amount of ETH staked, and you can get up to 11% on certain platforms like Nexo, Yield App & Etoro.
You can see our extensive list of the best staking platforms to choose the best one.
Steps to earn free ETH through Ethereum Staking include :
- Step: Choose a crypto staking platform such as eToro or OKX.
- Step: Create an account and log in to the staking platform.
- Step: Deposit your ETH into the staking pool’s smart contract.
- Step: Follow instructions specific to the platform and start earning free ETH
Mining Ethereum on Your Phone: Is It Worth It?
You can also mine to earn free Ethereum. Mining ensures agreement by having miners solve difficult puzzles. This helps to add blocks to the blockchain and verify the transactions.
The miners who solve these puzzles are incentivized with a reward.
Though it is possible to mine Ethereum through a smartphone, it isn’t generally worth it. The reason is that smartphones have lower processing power. There is also the risk of hardware damage and draining the battery fast.
Though some are genuine, the payouts are usually meager compared to the time and effort the user has to dedicate.
Airdrops are a popular marketing tactic used in the blockchain space. They help promote new projects and simultaneously reward early adopters of existing projects.
For instance, an Initial Coin Offering (ICO) might reward an Airdrop to its registered investors.
It’s recommended to have Ether in your Metamask wallet and test new protocols on the Ethereum blockchain, as that is required to receive tokens. When you get the tokens, you can exchange them for more ether.
You can visit websites such as Airdrops.io to stay updated on the latest airdrops by type of cryptocurrency.
Cryptocurrency trading is another viable method to earn free cryptocurrencies.
Earning free Ethereum through this method requires thorough research. This includes conducting fundamental analysis, technical analysis, and understanding the market sentiment based on historical data.
Once you have thoroughly studied, you can place trades and earn Ethereum. Free Ethereum tokens are occasionally available based on trading criteria in platforms like Binance and eToro.
Taking advantage of price differences between different exchanges and trading pairs is a less-known method called arbitrage trading, which you may want to consider.
Is it Safe to Earn Free Ethereum Online?
Using credible platforms is a safe way to earn free Ethereum online. Since these companies make these offers part of their marketing strategy, the rewards are also genuine.
However, the question of risks comes from scammers looking to take advantage of people wanting to earn free Ethereum.
Carefully assess the credibility of any platform by doing a background check.
These crypto scams usually promise an unrealistic amount of Ethereum. They also ask for private keys or bank account details.
Consider reading their terms and conditions to understand all the clauses related to earning free Ethereum.
If you are using an app, read the reviews; they provide excellent insight from real users on how the app works.
What Can I Do With My Ethereum?
Ethereum is the second largest cryptocurrency in the world behind Bitcoin. One major reason for this is because of the multiple use cases that it offers.
Its native currency, Ether(ETH), can be exchanged with other cryptocurrencies or converted into fiat currency.
You can decide just to hold it, as Ethereum is considered a good investment in the crypto space.
If not, there are other options, such as buying and selling NFTs with it, as many NFT projects are based on the Ethereum blockchain.
You can utilize Ether to participate in decentralized applications (DApps). For instance, you can join a decentralized finance (DeFi) platform where you can lend the ETH and earn interest.
Some other uses include buying and selling digital assets within games, participating in staking, and participating in Initial Coin Offerings (ICOs).
How do you sell your Ethereum (ETH)?
After earning Ethereum in the several ways mentioned, one option is to sell Ethereum. The steps to sell your ETH are:
Step 1: Choose a Cryptocurrency Exchange
The first step is to choose a cryptocurrency exchange suitable for transferring Ethereum to cash or other cryptocurrencies. A popular option is to use Binance.
- 0.1 – 0.5%
Binance, a leading global crypto exchange, offers a user-friendly interface and low fees for trading a diverse range of coins. Accessible to both institutional and individual investors, it supports advanced trading services, although U.S. options are somewhat limited.
Industry's lowest trading fees.
Advance trading options like leverage.
350+ trading options, 150+ for theUS.
Lucrative on-site staking options.
Hiccups in account verification.
Less regulated than some competitors.
The corporate structure is not transparently.
Step 2: Create an Account on the Exchange
[Sign up] and fill in the necessary personal information, including the KYC, to be eligible for transferring cryptocurrencies.
Step 3: Transfer Ethereum from the platform to the Exchange Wallet
Once your account is set up, transfer the Ethereum from the platform where you earned free ETH to the exchange wallet.
In the case of Binance, click on [Deposit] and select Ethereum.
Step 4: Copy the wallet address from Binance and paste it to the platform page
Once you select the Ethereum, click [Deposit]. A pop-up will appear with your wallet address. Copy it and return to the platform to paste it.
Perform necessary instructions as per the specific platform.
Step 4: Go to the selling page
Once you have Ethereum in your exchange wallet, navigate to the selling page and choose the option of selling Ethereum.
In the case of Binance, go to [Buy Crypto]. We choose the [Credit/Debit card] option in this example.
Click on the [Sell] button and choose the cryptocurrency to sell. Enter the amount to continue.
Step 5: Process Selling Ethereum
Click on [Confirm] to process the transaction
You can withdraw Ethereum into cash or exchange it with another cryptocurrency. Specify the amount of ETH, review the transaction details, and confirm the sale.
Ethereum(ETH) is an open-source platform that executes smart contracts through the Ethereum Virtual Machine. It has become the foundation for Web 3.0 decentralized apps (DApps).
Ethereum can be converted into cash using cryptocurrency exchanges. It can then be withdrawn as fiat currency to your linked bank account.
Some of the popular methods include participating in giveaways, sending referrals to friends, and enjoying games.
Protect yourself from marketing schemes that offer very high returns without any effort. Proceed with care if they ask for your private keys or other personal information
Most of the methods mentioned in this article are either risk-free or low-risk. Yet, users need to exercise caution and conduct thorough research to stay safe.