Starting to invest in cryptocurrency does not have to connect with a bank account or spend fiat to buy Bitcoin (BTC) and Ether (ETH). Another way to earn cryptocurrency and build your portfolio is to complete various tasks on various Web3 platforms.
Using decentralized applications and decentralized finance (DeFi) platforms, users can earn cryptocurrencies and then swap, sell or hold them in a centralized or decentralized wallet without having to spend money.
Let’s look at some ways to build a crypto portfolio without connecting a bank account.
Interact with Web3 browsers
People with no cryptocurrency knowledge may be intimidated by the process of downloading a wallet and doing on-chain transactions. The only alternative is interacting with technology, and today, there are many ways to experiment with different crypto platforms. One is to replace Web2 technology with Web3 partner browsers.
Google dominates the web browser and search engine space, making money from users by selling data to advertisers. Brave Browser is an alternative platform where users earn Basic Attention Tokens (BAT) and have full access to data when searching. Users earn money from activity on advertiser websites, and Brave does not sponsor search engine submissions, which gives users a more decentralized search experience.
Currently, Brave shares 70% of the advertising revenue, and some users choose to sell the BAT they get on centralized exchanges or through Web3 wallets like MetaMask.
Create social media content and mint NFT for free
NFTs continue to grow in popularity, and potential crypto investors can use various free software to analyze the wallet addresses of successful NFT investors who minted high-value NFTs and also try to find free NFT minting and whitelist opportunities.
Colin Helm, CEO of the free-to-play metaverse platform Caesarverse, noted the importance of free NFTs in the space:
“If users follow our social media channels and communities closely, they can certainly find a lot of raffles, get some assets that enhance the gaming experience and build a crypto portfolio just from the games they can enjoy.”
Some users who have been working on the free printing system have generated NFTs that have finally reached the floor of 10 ETH.
related: How to mine mobile cryptocurrency?
Just like how NFTs need a social media base for advertising, new blockchains and protocols also need testing and a large user base to ensure sustainable growth upon launch.
Some blockchains like Arbitrum don’t have tokens, but tokens from airdrops that eventually tend to attract users to protocols in the Arbitrum ecosystem.
On September 6, 2022, 1inch users in Optimism received an airdrop of 300,000 OP for pre-launch blockchain usage.
For users without the technical knowledge to use the new blockchain, airdrops based on social activity can be an easier way to earn cryptocurrency. With social airdrops, users may need to follow, like and share specific accounts on social media. Users should probably use a decentralized wallet like MetaMask in order to receive social airdrops.
Bug bounties and beta testing
Many crypto and DeFi projects have set up tokens for marketing, bug finding, beta testing and content creation tasks. Many crypto investors earn tokens by auditing, testing, and creating brand designs, marketing materials, music, and other content. Borrowing your skills for a crypto project is the perfect way to get started.
Jenny “DJen” Schorsch, founder of GlamJam, shares her experience on how to create a brand and start crypto without initial costs:
“Start creating value for society for free first. Once you have a community, you start generating revenue and assets with them. I started using NFT for tickets and allowing Web3 companies to sponsor my favorite projects. Before I knew it, people were offering me crypto for participation in events.
While most users think that a bank account and fiat currency are necessary to interact with blockchains and cryptocurrency, this is not the case.
With little effort, aspiring crypto investors can acquire cryptocurrency and NFTs with no upfront costs, except time.
The views, thoughts and opinions expressed here are solely those of the author and do not necessarily reflect or represent the views and opinions of Cointelegraph.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should do their own research when making decisions.