Free $150 in 3 Steps

By drubid | cryptoadam | 18 Feb 2021


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Photo by BP Miller on Unsplash

One of the things that's most fascinating about the crypto world, in addition to the insane growth, is the amount of free money out there. The combination of sign-up & referral bonuses plus high-APY defi investing makes it easy to generate significant money from basically nothing.

This article shows you how to use free-crypto bonuses from 3 accounts to generate an estimated $150 from nothing. There are 3 caveats to the proposition.

  • First, you'll need about $200 to unlock the first sign-up bonuses, but you can pull it back immediately once you get your sign-up bonus. As part of the article, I'll cover that, or you can use the $200 to earn even greater rewards--I'll go through that, too.
  • The second thing to note is that part of the bonus will be locked for 6 months. This is entirely hands-off, though. Set it and forget it.
  • Finally, since it's based on sign-up & referral bonuses, you won't be eligible if you already have accounts with the places I'll mention. That's okay, though; you can still jump in at any point and earn!

Still with me? Let's get to it!

 

Step 1: Coinbase (~1 hour)

Coinbase is a top-rated and user-friendly crypto exchange site. It's the first place I ever bought bitcoin. It's really great for dollar-cost averaging because you can setup recurring purchases. Coinbase also offers opportunities to earn free crypto by watching short, 1-3 minute videos and answering a simple question.

When you sign up for Coinbase using a referral code, you receive $10 when you buy or sell $100 of crypto. So, that's the first bonus money we're working with.

Action steps:

  • Sign up with Coinbase using this link.
  • Buy $200 of bitcoin (BTC) to receive your $10 reward.
    • Why $200? In the next step, we need $200 to unlock a $40 reward.
  • Earn rewards by watching videos. This should get you about $30 in rewards.
  • Convert your rewards to BTC.

 

Step 2: Celsius (~30 minutes)

Celsius is an asset manager. It's a simple way to earn interest on your crypto coins, and it's very easy to setup. You earn rewards just by storing them in your Celsius wallet.

Celsius offers a $30 reward when you join using a referral code when signing up, but it's earned when you transfer $200 and store it for 30 days. Once you complete this, though, you can withdraw your original $200 and still have $70 of free bitcoin. (And that doesn't count any interest you'll have earned during that 30-day period or appreciation in the value of the bitcoin itself!)

Action steps:

  • Sign up for Celsius using this link.
    • Alternatively, download the app for Android or iOS and sign up using referral code 1319904a9e
  • Deposit $200 in BTC from Coinbase.
    • Important: You must deposit a minimum of $200 transferred in one transaction, and it must be held in your Celsius wallet for 30 days.
    • I suggest depositing more than $200 ($225 or so) to ensure that $200 lands in Celsius after any transaction fees.
  • Sit back and earn interest for 30 days to earn your $30 reward.

 

Step 3: Cake DeFi (~30 minutes)

Cake DeFi is an up & comer in the world of decentralized finance. I love them because they're effortless to use and offer great return rates. Their native token, DeFiChain (DFI), is also undervalued, in my opinion, and just getting started. At the time of writing, DFI is valued at $3.69, representing 50% growth in the last 30 days. It feels like a great chance to get in early on something good.

I also really appreciate the transparency with which they operate. As an example, check out the Cake Transparency Report Q4 2020 on Medium.

Cake DeFi offers a $30 reward when you sign-up using a referral code. The reward is earned when you deposit $50, but the reward is locked for 180 days. During that time, it will be staked and earning a generous rate--currently 37% APY.

Action steps:

  • Sign up for Cake DeFi using this link.
    • Note that the sign-up bonus is only $20 if a referral code (273734) is not used.
  • Deposit $70 (or more!) in BTC from Celsius to earn your $30 reward.
  • Invest $70 in liquidity mining.
    • Convert half of your deposited BTC to DFI.
    • Add equal amounts of BTC & DFI to the BTC-DFI liquidity pool, which currently offers 140% APY.
      • Enable the auto-stake setting so that DFI you earn will automatically be staked and earn 37% APY.
  • Sit back and earn for 180 days.

 

Recap

With a little effort and patience, you'll have created hundreds of dollars from virtually nothing. There are some subtle return options depending on the choices you make along the way, so let's break down what you could've earned.

Rewards:

  • Coinbase: $10 sign-up bonus + $30 in learn-to-earn rewards
  • Celsius: $30 referral bonus
  • Cake DeFi: $30 referral bonus
  • Total: $100

Interest:

  • Celsius (30 days): $240 * 6.2% APY compounded weekly = $241.19
  • Cake DeFi (180 days):
    • $30 referral bonus * 37% APY compounded daily = $36.09
    • $70 ($40 Coinbase + $30 Celsius) * 140% APY = $108.44
  • Total: $144.53

Now, $144 in free money is pretty great, but if you roll that initial $200 investment forward rather than withdrawing back to your bank account, you earn even more!

  • 180 days: $270 ($200 + $40 Coinbase + $30 Celsius) * 140% APY = $418.28

Doubling your money in 6 months with so little effort is pretty remarkable, but the earning potential is even greater than this. First, the crypto assets themselves will likely continue to appreciate. Second, the earnings from liquidity mining will be staked and earn daily compounding interest at the rate of 37%.

It's easy to see how the world of crypto is so wild and powerful. Free money is lurking everywhere, and it's so easy to invest it and turn it into even more. However, it should be noted that I am not a financial professional, and nothing I say here should be considered advice. Do your own research and have fun.

Thanks for reading! Let me know what you think!


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