Over the past few months we’ve been hearing more and more about cryptocurrencies, as all time high Bitcoin prices get increasing media coverage. Clearly they offer lots of potential for earning money, but equally plenty of risk of losing it – especially if you don’t know what you’re doing. If you’re someone who is interested in learning more about digital currencies, but you’re hesitant about the potential risk, then there are several options for earning free coins. Some of these require no investment at all, others work with relatively small investments. Always keep in mind that the value of cryptocurrencies can be volatile, so the general advice is to always ensure you only risk what you can afford to lose.

1. Sign up to Coinbase and watch some videos

Coinbase is a Cryptocurrency platform, where you can buy and sell currencies like Bitcoin and Ethereum via an App. When a new user sets up an account they have the option to earn certain coins by watching short videos and answering questions about them. These can either be retained or sold/swapped for Bitcoin or fiat currency. You can currently earn £31 worth of currency by watching the videos in the earn section of the app.

If you intend to go on to use the Coinbase App to invest money in Bitcoin or other Crypto, then use this referral link to also get $10 in free Bitcoin when you invest $100 in any crypto currency (approx £72).

2. Scan your parcels with Package Portal

Package Portal is an App which rewards you with XPORT tokens for scanning your parcels and providing feedback about the service. You can download it from the App store.

To use the Package Portal App you will need a wallet on the Zilliqa blockchain. You then put your zil address into the Package Portal App and rewards are paid into this.

You can set up a Zilliqa wallet on the Moonlet or on Zilpay Apps. You enter you long address beginning zil into the address field in the package Portal app. You’ll then receive a token every time you scan a valid parcel. The value of this token can obviously vary, but as there’s no cost, there is very little risk.

3. Get a referral bonus and cashback with Crypto.com

See my more detailed post about Crypto.com here.

By staking around £300 worth of Crypto.com coins (CRO), you can get a Crypto.com metal debit card with 2% cashback on purchases, a rebate on Spotify subscriptions and a $25 bonus for using a referral code.

Remember that the £300 worth of coins could increase or decrease in value, so this one carries more risk. However, Crypto.com is an easy to use App suitable for beginners.

4. Stake coins and earn

This option might be better for those with a little more experience and knowledge, but many crypto currencies offer extremely attractive rates when you ‘stake’ your coins. This usually involves locking them.up for a certain period. For example, I am currently earning 15%+ in interest on my Zilliqa coins, which are staked on the Moonlet App. These are coins I’m intending to hold for the long term, so this makes sense.

This might be worth researching further, if you’re already holding coins – especially if your plan is to keep them as a long term investment.

Summary

If you have no experience, but lots of interest, then the Coinbase option is probably a good place to start. You could switch your £31 straight into Bitcoin and track it’s value to learn more. There is also a great UK Cryptocurrency group on Facebook, with lots of helpful advice for newbies and occasional live information sessions.

The other three suggestions require slightly more knowledge and/or risk, but there’s lots of information available about all of the above.

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