The idea of earning free crypto is still prevalent among new crypto users looking for a low-cost entry into the market. "How to earn free cryptos" remains one of the most searched items on Google to date, and that shows that people are still on the lookout for safe and fun ways to expand their holdings.

Everyone loves free things, and that includes free digital assets. Cryptocurrencies have the potential to appreciate, so accumulating a few tokens is definitely worthwhile. The issue is, scam sites claim to offer free crypto in a bid to lure unfortunate clients into signing up. 

Once you sign up, these malicious sites steal your details to use them for their unscrupulous gain. It is essential to protect yourself and understand how earning free cryptos works as an investor.  

Taxable Cryptocurrencies

One thing you need to understand regarding earning free cryptos is taxation. Crypto credit card rewards are taxed on capital gains. Some forms of crypto earning are taxable income. 

It is crucial that you do your due diligence and research IRS guidelines properly. Tax laws are delicate, and many people have unknowingly broken the law because of a common misconception. 

Now, let's discuss the best ways to earn free crypto in 2022.

Best Ways to Earn Free Cryptocurrency

• Cryptocurrency Credit Cards

One of the best ways to earn free cryptocurrencies is through crypto credit cards. You earn points or cashback when you shop with a regular credit card. But, with a crypto credit card, you get digital assets instead of points or cashback. These cards can help you bolster your holdings if you purchase regularly.

Exchanges like Gemini have already announced intentions to support crypto rewards credit cards. The card will allow people to choose which crypto to redeem for their rewards. Fintech firms, such as BlockFi, made a similar move. BlockFi credit cards will enable the purchaser to earn a 1.5% reward in bitcoin on every purchase executed. 

• Platforms

These days, the growing number of platforms that allow users to earn free cryptos is immense. Below are some of them.

Phemex

Phemex is a renowned trading and derivatives platform that allows users to earn crypto for free in a fun way. Unlike many on this list that offer just sign-up bonuses, Phemex pays you to learn about cryptocurrency. Interesting right?

At Phemex, users are paid to watch videos and complete quizzes regarding basic crypto concepts. There are courses with rewards attached to them, which the user claims after completing the course. Aside from offering free crypto, users can buy crypto, engage in spot trading, monitor the market, and perform other trading platform features.

Phemex is arguably one of the easiest ways to earn crypto in 2022. The good thing is that you still get a welcome bonus of up to $100.

Coinbase

Some exchanges, such as Coinbase, offer a $10 sign-up bonus to new customers when they trade at a minimum of $100. However, these bonuses come with terms and conditions. It would be best if you went through them to avoid surprises. 

Sometimes, these offerings aren't lucrative to warrant sign-ups. But, it could be a real deal for beginners. Interestingly, signing up isn't the only way to earn on Coinbase. Users can earn up to $30 when participating in the Coinbase Earn Program. 

The program is all about learning cryptocurrencies. When you watch videos and take quizzes, you are rewarded with small deposits in GRT and BOND into your wallet.

Freecash.com

Another platform that gives out free cryptos is Freecash.com. This website pays its users in various cryptocurrencies, such as bitcoin, ether, Dogecoin, etc. Users earn up to $100 worth of free crypto by taking surveys and performing other actions. 

eToro

eToro also offers sign-up bonuses to new users. However, you'll need to trade up to $100 to qualify for the $10 sign-up. If you already have an account, you may not need to sign up

• Shopping Rewards

While Rakuten offers cashback on shopping, Google Chrome browser extension Lolli offers crypto back to anyone that shops with its retail partners. This implies that you get rewarded with bitcoin whenever you spend your fiat money on shopping online. 

Lolli has a wide range of retailers, such as Nike, Malaysia Airlines, etc. Rewards range from as low as 1% to as high as 30%, depending on the product bought and retailer. Your rewards will be sent to your Lolli account, and you can transfer them to your bitcoin wallet. 

• Airdrops

Developers initiate airdrops occasionally to attract attention to their new token. To facilitate adoptions, some coins are given away for free to interested participants. Airdrops are risky and constantly leveraged by scammers. Accumulating coins issued via airdrops isn't the best investment because they have a low store of value. 

Wrapping Things Up

While you can earn crypto for free in several ways, crypto investments are like every other investment. They are risky, and you should only commit money that you feel comfortable to risk losing. Above all, be vigilant for scams.