If you were wondering if it is possible to earn free Ethereum in 2024, the answer is yes. Although there are fewer ways than a few years ago when ETH was not as popular as it is now, there are still methods to earn Ethereum, some of them without even investing previously.
Ethereum is one of the most popular cryptocurrencies in the world. Luckily, you can earn Ethereum without risk and in certain ways such as those we will describe below. Whether you have been a fan of cryptocurrencies for a long time or if you have just arrived in this world, follow these steps to get free Ethereum.
How to earn Ethereum: The Best Methods
These are some of the most popular ways to earn free Ethereum:
- Play to Earn Games – Explore blockchain games that offer token rewards for playing or conquering levels or milestones.
- Ethereum Staking – Staking Ethereum, is a staking contract on some platform in exchange for earning free ETH.
- Airdrops – Participate in free airdrop campaigns that distribute Ethereum or ERC-20 network tokens.
- Trading Bot – Engage in automated trading techniques to take advantage of market fluctuations and passively earn Ethereum.
- Crypto Casino Bonuses – Access cryptocurrency casinos with welcome bonuses and rewards programs on Ethereum.
- Ethereum Faucet: Performs various online tasks in exchange for small amounts of free Ethereum.
- Ethereum Lending – Putting your Ethereum to work by lending it to other users on specific platforms or exchanges, earning interest in return.
- Rewards Programs – Participate in marketing rewards programs, referral campaigns, or content creation in exchange for ETH.
- Liquidity Pools – Provide liquidity on decentralized exchanges and earn a portion of transaction fees in the form of additional tokens.
In detail: earn Ethereum step by step and in different ways
After seeing different methods quickly, in this section we will delve into each of them from a practical point of view. Some of these methods have a higher profitability than others, especially those that refer to pre-sales of cryptocurrencies on the Ethereum blockchain.
Play to Earn Games
The video game sector is growing unstoppably, and with it, the synergies between online games and the blockchain. For this reason, in the blockchain, we find many new games and developments underway with innovative proposals: metaverse, virtual or augmented reality, arcade, community games, battle games and many others.
One of the most popular types of games on the blockchain is Play to Earn, or “play to win” games. These games promise rewards in the form of tokens and an entire in-game economy that allows you to benefit from a certain profitability, with aspects such as:
- Raise a level or rank.
- Sell items obtained from missions, milestones, or competitions.
- Mint unique tradable NFTs.
- Beat other players in fights, races, or battles.
These cryptocurrency-earning games add utility to the tokens and also generate a vibrant community. One of the examples of this route is PlayDoge. It is a game, now in pre-sale, that proposes a Tamagotchi-style pet game with which you can earn PLAY cryptocurrencies (exchangeable for BNB or ETH). The ecosystem proposes a twist on a classic by incorporating the modern dog “Doge” and its own mechanics of earning tokens by playing.
Earn Ethereum with P2E games like PlayDoge
Ethereum Staking
Ethereum staking has been possible since the ETH token moved to version 2.0, integrating a Proof of Stake consensus mechanism. That implies that any holder of ETH tokens, even for a fraction of a token, can stake it and let it generate a passive return.
Staking is a form of low risk, low or medium profitability, depending on the platform and how long you have the tokens locked. It is considered a long-term token deposit. As with a bank deposit, choosing a good bank is key.
A good way to earn Ethereum from staking is to take advantage of a top-tier platform like OKX. There you can stake your ETH along with other compatible cryptocurrencies and generate 1 to 2.94% interest. There are other tokens that can generate 54%, so it may be a good idea to combine several of them in this mechanism.
Earn Ethereum with staking on the OKX Platform
Airdrops
Crypto Airdrops are free cryptocurrency airdrops. These distributions serve to publicize and promote projects, such as Ethereum, and to attract more fans.
Several Ethereum Airdrops were made in 2015 and shortly after, due to the launch of the ETH blockchain and token.
Now, those events are somewhat more rare and limited. However, other projects have launched similar promotions with the same purpose: to make themselves known, attract fans, generate token adoption, and gain followers who could invest in the short term.
One of those examples is 99Bitcoins, a project recently launched in pre-sale and that will carry out an Airdrop of $99,999 in 99BTC tokens, compatible with the Ethereum and Bitcoin chains. The project proposes a Learn to Earn system similar to gamifying learning about the world of cryptocurrencies and blockchain technology.
Earn Ethereum with Airdrops like 99Bitcoins
Trading bot
Trading automation is a fairly new modality that uses algorithms to predict the price of cryptocurrencies, read and interpret signals, and act on operations or trading positions.
If you have an initial capital, of $10 or more, you can invest in one of the many trading platforms that integrate this type of bots. For example, Bitpanda users can use the Cryptohopper bot to automate long or short buying or selling positions.
To operate a trading bot and make it profitable, it is important to configure its parameters well, such as Stop Loss and Take Profit limits, as well as the size of the operations. Trading is a mechanism that can have significant risk, compared to other methods of earning Ethereum. However, being high risk, it also has a high potential return.
Crypto Casino Bonuses
In another case perhaps less known, but no less important, we must mention cryptocurrency casinos and their huge welcome bonuses. Most of these internationally regulated platforms have bonuses and promotions for new users. The usual policy is to double the user’s initial deposit, in the same cryptocurrency. It is a way to earn Ethereum simply by placing money and meeting the initial requirements.
For example, CoinPoker is one of those crypto casinos that has a welcome bonus of up to $2,000 USDT. In addition, the platform offers a lot of promotions.
Earn crypto with bonuses on CoinPoker
Ethereum Faucet
An Ethereum faucet is an online platform that allows you to obtain tokens in exchange for completing certain tasks online. You just have to register, without personal data and without initial capital, and start performing these tasks or actions, which are repetitive in nature and can be:
- Watch ads or videos.
- Respond to surveys.
- Play games.
- Participate in campaigns on social networks.
In exchange, each task gives you a very small amount of free cryptocurrency. The key is to be aware that it takes a while to accumulate enough Ethereum to make a withdrawal to your personal wallet (depending on the platform). It is not a very lucrative route either, but in exchange for that time, you can earn Ethereum completely free and then invest it in staking or other platforms.
Ethereum Loans
Similar to staking or liquidity pools, some platforms such as OKX or Binance allow users to contribute cryptocurrencies to the system in exchange for receiving a return, knowing that these tokens will be used to provide crypto loans to other users.
The interest is higher in this case, and normally the user does not have to worry about the payment of said loans by whoever receives them. However, by locking your ETH in a lending contract with an exchange, you won’t be able to use it for any other functions. That implies a certain risk at the level of volatility, that is if the price of ETH plummets.
Rewards programs
Rewards programs are time-limited ways to earn additional Ethereum. They often involve taking one or more actions, from signing up for a referral program (most exchanges have one) to participating in a content creation program.
To access these systems, it is essential to have a membership in the exchange or platform in advance, and from there apply or be invited to participate. So it is not a 100 percent open system and may have some additional requirements.
Liquidity funds
Like staking or loans, liquidity funds, and so-called “pools” are mechanisms that some exchanges implement. As you can imagine, these platforms require a huge amount of tokens. Sometimes these funds are used to ask the user community for help.
The user is invited to contribute these tokens to a fund, and in return, is rewarded with interest over time. As with previous methods, contributing ETH here allows you to earn additional Ethereum, at the cost of not being able to use it for anything else until the contract ends or the user chooses to withdraw it.
Is it still possible to earn Ethereum?
When it came out in 2015, Ethereum was barely known. It had to reinforce its credibility, gain the trust of investors, and start generating noise among developers and enthusiasts. All this is to encourage the adoption of the project and allow the ETH token and its functions to be tested.
For that, at that time quite aggressive campaigns were held such as airdrops, token drops, and other methods giving even more tokens than ever. It must be taken into account that ETH was then worth 0.3 euros per token. This low value allowed tokens to be distributed more easily than now, whose value is greater than €3,500.
Even with that, it is possible to earn Ethereum today. In this guide, we have seen several ways that continue to work for now to make money with cryptocurrencies. And so is getting other cryptocurrencies in a similar way (perhaps even in larger quantities than ETH).
Safety when participating in ways to earn ETH
Earning free Ethereum can be a time-consuming adventure, especially in some of the methods, whether active time (performing tasks) or more passive time (waiting for a compound return).
Value the amount of time to invest with the amount of ETH you receive. It may not be worth the effort, depending on how you value your time.
That said, there are other methods that involve greater speed in obtaining ETH tokens, such as liquidity pools, exposure to cryptocurrency loans, or exposure to other systems such as staking or yield farming. However, they also have greater exposure to volatility and risk, starting with the platform’s reputation. In return, the promise of profitability on Ethereum is much greater.
There are projects that may seem legitimate, but they are rug pulls that end up disappearing or leaving their users with worthless tokens. The same thing happens with Airdrops.
- We recommend using a new wallet created from scratch and without funds to participate in Ethereum generation methods such as faucets or Airdrops.
- Methods that involve investment, such as automated trading bots, require patience and study because otherwise, they leave you exposed to volatility and loss of initial capital.
Methods that have stopped working to earn Ethereum
One of the historical methods to earn Ethereum is, as you may know, ETH mining. When it first appeared, Ethereum was a token with a Proof of Work mechanism on its blockchain, which in short meant that it could be mined by problem-solving algorithms that use computing power. In the same way that we continue to mine Bitcoin today.
However, in September 2022, Ethereum moved to its version 2.0, or “The Merge”, and that implies that it changed to a staking consensus mechanism or Proof of Stake. This means that it can no longer be mined since obtaining new tokens is done through another form of validation.
Therefore, Ethereum can no longer be earned by mining. On the other hand, you can aspire to be a validator on the network, to support the project from its staking network, but to do so you need to have a minimum of 32 ETH, which at the current price means more than 112,000 euros.
Conclusion
Earning Ethereum is an interesting way to combine, perhaps, with obtaining other tokens in parallel and other investment, gaming, or profitability strategies. Each of the methods we have analyzed in this guide has its pros and cons, also in some cases certain unique risks. The key is to choose those paths that align with your interests and priorities.
It’s often about weighing the time and capital you have or deciding if it’s worth investing one or both to earn Ethereum (or other cryptocurrencies, as many of these ways are applicable to other tokens like Bitcoin, Dogecoin, or new cryptos). Always do your own research before taking any step and consult security and credibility issues.
The post How to Earn Ethereum Easily: Tried and Tested Methods for 2024 appeared first on Blockonomi.
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