From staking your bitcoin and ethereum, to getting cashback rewards through crypto credit cards, there are more ways than ever to earn crypto. In this guide, we dive into the top spend categories and break down which cryptocurrency exchanges offer the best rewards programs. Here’s what you need to know.
What is a crypto reward?
Crypto rewards are incentives provided to users for various activities related to cryptocurrencies. These rewards serve multiple purposes, such as encouraging user participation, promoting platforms, and educating the public about crypto assets. They can come from different sources like crypto exchanges, staking programs, and even educational platforms that aim to teach people about cryptocurrencies via “learn and earn” programs.
For example, you might earn some free crypto for signing up on an exchange or completing educational modules about a specific cryptocurrency. Alternatively, you receive rewards through staking, where you hold onto your coins in a digital wallet to support the network and earn additional tokens over time. Free NFTs (non-fungible tokens) are also a form of crypto reward, as they might be offered for promoting a project on social media.
However, while earning crypto rewards can be lucrative and educational, it’s essential to be cautious. Regulatory issues and risks associated with crypto assets mean you should always do your own research and perhaps consult with financial advisors.
Earn crypto rewards
The Trade and Earn activity offered by OKX is a great opportunity to earn rewards while trading on the platform. Users can participate in daily activities and win rewards based on their trading volumes and profits. The rewards include USDT, and native OKX tokens – OKB .
1. Join the activity via the button below
2. Deposit at least 50 USD to get a mystery box
3. Trade to get extra money. The more you deposit and trade, the larger your rewards!
The Binance Futures Copy Trading offers traders to gain rewards by trying their new feature. The rules are simple – all you need is make a copy trade and enjoy the process. The rewards will be based on the copiers’ performance.
1. Register on Binance and complete your first Copy Trade.
2. Obtain a min total copy amount of $100 to get up to 10 USDT in token vouchers. Hurry up, only first comers will get awarded!
3. Create and share your portfolio to rank on top & share a weekly rewards pool
of 2,500 USDT.
Bitget offers traders the chance to win up to 50,000 USDT in rewards by participating in the platform’s futures trading activities. It is an excellent opportunity for traders to enhance their skills and knowledge. Don’t miss out and start copy trading today!
1. Register on Bitget and copy bots created by others.
2. Invest a minimum of 20 USDT in a single copy trade, and run the bot for at least 6 hours. Be one of first 300 to share 20,000 USDT!
3. Purchase new bots and copy them within 7 days, invest a minimum of 20 USDT in a single copy trade, and run the bot for at least 6 hours. 100 users ranked by the number of bots will get 50% discount.
4. Complete the steps above and will be ranked on your profits to win up to 2000 USDT.
If you climb the leaderboard and rank among the top 10 traders, you’ll win some amazing prizes, including the latest iPhone 15! The prize pool is a massive $5,000, and every trade you make boosts your chances.
Prize pool ($5000):
🥇 First Place: iPhone 15 Pro Max (or value)
🥈 Second Place: iPhone 15 Pro (or value)
🥉 Third Place: iPhone 15 (or value)
🎖 4th: $500 – 5th: $300 – 6th: $250 – 7th: $200 – 8th to 10th: $100
Trade on YouHodler. To qualify, you need to trade only the top 10 cryptos.
Only the top 10 traders will receive an award.
Wirex offers a worldwide rewards program which allows you to get a crypto reward, in the form of a cashback, for each eligible purchase you make using the Wirex card.
The app also offers staking rewards of up to 20% and up to 16% interest for savings accounts.
Sign up on the Wirex app, top it up with fiat or crypto and order a Wirex debit card. Use the Wirex debit card for online and POS purchases and receive up to 8% cashback from eligible merchants.
There are three subscription levels. The app also requires you to stake a certain amount of Wirex tokens (WXT) to be eligible to increase your cashback level. For the 8% cashback, you need the Elite subscription ($29.99/month) and 7.5 million WXT staked.
CoinCall has partnered with the BeInCrypto community, and its offering a special signup bonus for new accounts. The rewards are in ETH options on CoinCall.
There are three crypto reward levels:
1. Register and Net Deposits ≥ 500 USDT. The reward is 0.2 ETH Options position.
2. Net Deposits ≥ 500 USDT & Trading vol ≥ 1,000 USDT. The reward is 0.6 ETH Options position.
3. Net Deposits ≥ 500 USDT & Trading vol ≥ 10,000 USDT. The reward is 1 ETH Options position.
To mark the launch of tipcoin (TIP) on BYDFi, the platform is hosting a week-long event where you can buy cryptos and receive a surprise mystery box!
Simply trade tipcoin (TIP) and you’ll be eligible to pick up a mystery box at our reward center. These boxes are packed with spot tokens, special bonuses, and coupons! Keep an eye on our official social media for more exclusive opportunities you won’t want to miss.
Binance Earn is holding a special event for Dual Investment users to celebrate the Mid-Autumn Festival. By participating, you get a chance to win a share of up to $18,888 in BTC token vouchers. The more you invest in Dual Investment during the event, the bigger your reward could be.
1. Click the “Join Promotion” button on the activity page.
2. Make new Dual Investment subscriptions that are eligible based on the rules.
Make sure you’ve completed your KYC process and that your Dual Investment subscriptions are new and will settle by Oct. 16, 2023, at 11:59 PM (UTC). Rewards will be given out by October 30, and you’ll have 14 days to claim them in your Rewards Hub.
Remember, the event and rules can change at any time, so always double-check the terms and conditions.
MEXC organises a futures trading event where you can participate by trading with leverage of 21x or higher.
The event is only open to individual users — market makers, institutional accounts, and sub-accounts can’t participate.
During the event, the maximum leverage supported for certain trading pairs might change, but all eligible trades will count towards the event.
1. Start trading futures with a leverage of 21x or higher. Doing this will automatically register you for the event.
2. Keep in mind that only the trading volume generated after your registration will count. The trading volume includes both opening and closing amounts.
3. Note that stablecoin futures like USDC/USDT and BUSD/USDT are excluded from this event.
Rewards will be distributed within three days after the event ends.
Make sure to follow the platform’s terms of service strictly, as any violation could disqualify you and revoke any rewards you’ve earned. Always remember that the event rules can change at any time without notice. If you have any questions, contact customer service.
Types of crypto rewards
Staking is a type of crypto reward that involves holding onto specific cryptocurrencies in a digital wallet to support the network’s operations. When you stake your coins, you essentially lock them up for a period, thereby helping to validate transactions and secure the network. In return, you earn additional tokens over time as rewards.
This is particularly common in systems that use a proof-of-stake (PoS) protocol. In this method, the chance of a participant being chosen to validate transactions is proportional to the number of coins they hold. This encourages people to stake more coins, supporting the network and earning more in the process.
The rewards can vary from coin to coin, and some of the more speculative or lesser-known cryptocurrencies may offer higher rewards to attract more stakers. It’s a continuous source of income and can be especially advantageous if you’re a long-term investor.
However, staking is not without its risks and complications. Regulatory bodies like the Securities and Exchange Commission (SEC) have sometimes challenged staking programs as unregistered securities offerings. For instance, Kraken had to end its staking program as part of a settlement with the SEC.
So, while staking offers a way to earn additional tokens and participate more fully in the crypto ecosystem, it’s essential to be aware of the associated risks and regulations.
Decentralized finance (DeFi) rewards are incentives earned through peer-to-peer financial activities facilitated by decentralized applications (DApps).
One common way to earn DeFi rewards is through lending. You can lend your cryptocurrency to borrowers and earn interest on the transaction. In essence, you’re acting as a mini-bank, lending out your crypto assets and receiving interest in return. This form of earning operates on decentralized lending platforms, allowing you to either fund individual loans or pool your assets with other lenders to reduce risk.
Another aspect of DeFi rewards comes in the form of yield farming or liquidity mining. That’s when you provide liquidity to a decentralized exchange (DEX) and earn fees or additional tokens in return. This is a more complicated strategy and typically involves providing both sides of a trading pair (e.g., ETH and USDC) to a liquidity pool.
DeFi rewards can be lucrative but come with their own set of risks. The platforms are often less regulated than traditional financial systems, making them more susceptible to fraud and security risks. Plus, the borrowers you lend your crypto to might default on their payments.
Crypto cashback is a rewards program that gives you a small amount of cryptocurrency as a bonus when you make purchases. Similar to how traditional cashback credit cards work, you use the best crypto credit cards or payment platforms to pay for goods and services. Then, instead of receiving points or traditional currency as a reward, you get a percentage of your spending back in the form of cryptocurrencies like bitcoin, ethereum, or other altcoins.
This crypto reward is typically deposited into your digital wallet, gradually helping you accumulate more cryptocurrency without needing to buy it directly. The rate of the cashback can vary by the platform and sometimes by the type of purchase you make, such as groceries, gas, or dining out.
While this is a convenient way to grow your crypto assets, it’s essential to be mindful of spending habits. The aim shouldn’t be to overspend just to get more rewards. Additionally, because you’re earning in cryptocurrency, your rewards are subject to the market’s volatility, meaning their value can go up or down over time.
Crypto airdrops are a form of promotional distribution where developers give away a certain amount of free tokens or coins to the holders of a specific cryptocurrency. Typically done to engage potential users in their ecosystem, airdrops can serve as an effective way to raise awareness and stimulate trading activity for a new cryptocurrency.
While airdrops can offer a quick and easy way to accumulate more crypto assets, they come with their own set of risks and considerations. For instance, not all airdrops are legitimate, and some may even be scams designed to collect personal information. Even when tokens are successfully airdropped, their long-term value is not guaranteed.
Crypto faucets are websites or apps that distribute small amounts of cryptocurrency for free, typically in exchange for completing simple tasks such as captcha tests. These faucets act as a promotional method to incentivize user engagement and education around a particular cryptocurrency.
Here’s how they generally work:
- Visit the faucet.
- Complete a task: Once there, users might be asked to complete a simple activity, such as watching an advertisement, filling out a captcha, or even participating in a mini-game.
- Get rewarded: After successfully completing the task, the user receives a small amount of cryptocurrency as a reward. This reward is usually dispensed into a linked wallet or an account created on the faucet website.
- Withdraw: Once a certain minimum amount of cryptocurrency has been earned, users can withdraw it to their personal wallets. Some faucets have set intervals or limits on withdrawals to prevent abuse.
Crypto faucets are often funded by advertisements and sponsorships. Or they may be affiliated with larger crypto exchanges or platforms that use faucets as a marketing tool. While the rewards from a single faucet may seem insignificant, some users utilize multiple faucets. That’s how they accumulate a more substantial amount over time.
However, it’s essential to exercise caution when using crypto faucets, as not all are legitimate. Some may be scams designed to harvest personal information or distribute malware.
How do you get free crypto rewards?
You can get free crypto rewards in several ways, each with its own approach and benefits.
- Sign up with exchanges. Open an account with crypto exchanges like Coinbase or Gemini. They often give you free crypto just for signing up.
- Stake your crypto. If you already own some coins, you can stake them in a supported wallet or platform. This earns you more of the same coin over time.
- Join DeFi platforms. With decentralized finance, you can lend your crypto to others and earn interest on it.
- Cashback rewards. Some credit cards and online shopping platforms offer cashback in crypto instead of traditional currency.
- Learn and earn programs. Platforms like Coinbase Earn let you take short quizzes or watch videos about crypto, rewarding you with small amounts of various cryptocurrencies.
- Airdrops. Keep an eye on social media and forums for new coin launches. These often come with free tokens for early adopters or supporters.
- Faucets. These are websites that give you small amounts of crypto for completing simple tasks like filling out a captcha.
- NFT giveaways. These are digital assets, not exactly crypto, but you can often trade them for crypto. You can win them in giveaways or earn them as bonuses.
- Surveys and web browsing. Some platforms offer crypto for taking surveys or even just for browsing the web, like with the Brave browser.
By combining these methods, you can build up a varied portfolio of free crypto rewards. Remember to always exercise caution and do your research, as scams are prevalent in the crypto world.
What are the best crypto rewards for you?
The world of crypto rewards offers a plethora of ways to earn some extra digital coins. You can stake your bitcoin or ethereum on a cryptocurrency exchange. Or you can get cashback rewards through crypto credit cards. Sometimes, you don’t even need to spend fiat currencies. You just use your crypto debit cards to earn rewards in your top spend category, often without an annual fee. If you’re based in the E.U. and interested in earning while you spend, various crypto debit cards in Europe offer impressive cashback rewards.
Frequently asked questions
Where can I get crypto rewards?
Are crypto rewards taxable?
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