How Do I Earn Ether (ETH) Without an Upfront Investment?
Many people dream of being able to earn ether without investing a penny in it. But is that really possible? If so, can you become rich doing it? And more importantly, how?
In today’s article, we’ll see the different options available to you to try to get ETH without having to make an initial investment. We will also look into methods that at a first glance seem to offer this, but which are in fact not so good ideas to try out.
Why not invest in Ethereum the traditional way?
Most people who want to buy ether usually do so by investing some of their fiat. To do this, they usually register on one of the platforms above. However, there are reasons why some don’t want to invest in this way.
For some individuals, it is impossible to pass the overly strict KYC verification measures on certain exchanges. In this case, they cannot deposit money on it and make a purchase of any cryptocurrency, let alone ether.
In some cases, a user may not want their bank account or identity to be linked to their ETH wallet. When you reveal your identity on an exchange, that’s usually what happens.
It is also possible that people simply do not have enough money to invest in cryptocurrencies, but would still like to get in on the ETH action!
Finally, we can also mention the sceptics; who, although partly convinced by cryptocurrencies, are still afraid of being ripped off or are reluctant to invest their personal money in this new asset class.
But don’t let any of this dissuade you! As you’ll see, there are many ways to get ETH without having to pay a penny out of your pocket.
Is it possible to earn ETH by mining?
When Ethereum first came out, becoming a miner did not require a lot of resources. It was a new and exciting crypto project, and many got involved.
However, over time, the number of applications and projects using the Ethereum blockchain has increased considerably, and the need to secure all of this has led to an increase in hashrate, which indirectly creates a need for miners to own increasingly powerful computer hardware to validate transactions.
Long ago, a simple internet browser was enough to mine ETH – that time is now over. To be profitable, a miner must invest in state-of-the-art equipment with fairly expensive graphics cards.
It therefore requires a big upfront investment to mine ETH today, excluding it as an option for those who want to earn it without paying any money.
When a new project wants to make a name for itself among the general public, it has several different PR options at its disposal. One of them is called an airdrop.
The process varies from blockchain to blockchain, but when a project uses the Ethereum network, you can receive tokens by giving your ETH wallet’s address (link to Ethereum wallet guide). On a given date, project tokens will be distributed free of charge to your wallet.
Then, it is up to you whether or not to keep the project tokens. If you feel they can gain value in the future, then it’s not necessarily a bad idea to keep them. However, if you are not interested in the project, you can exchange them for ETH. This way, you can get ether without spending a penny.
On some sites, you can get loans or lend out cryptocurrencies to other users. By lending crypto to an individual, they will have to pay you interest and the site will also take their commission from it.
It is possible to obtain ETH on these types of platforms, even if you didn’t have that particular asset beforehand. If you don’t have any cryptocurrency, unfortunately you won’t be able to take advantage of this system. But, if you have a few and you don’t use them, don’t hesitate to deposit them on this site to rack up interest, which may be in the form of ether, but also in the form of other currencies – it’s your choice!
Receiving your salary in Ethereum
Another way to get Ethereum without investing money directly in it is to ask to be paid in ether. This is unusual, especially for the UK, but it is a practice that is becoming more and more popular.
Obviously, not all companies will agree to pay their employees’ wages in crypto. Among those who would be willing, they will usually only pay a small part of the total salary in it.
The companies that would agree to pay you with ether are almost all in the IT sector. There will be virtually no other type of business that would accept this odd proposition. All the same, to be in with the best chance of getting ethers for your salary, it is better to work for a company linked to the blockchain.
Also be careful that Ethereum is not a legal currency in many countries. As a result, the salary you receive in this format is highly likely to be considered to be paid ‘under the table’, so to speak.
Use free bonuses at Ethereum casinos
If you play on Ethereum casinos (insert link), it is possible to take advantage of certain bonus offers that do not require any deposit. This is usually free money that you are offered to test the different slot machines.
However, the sums offered are usually quite small and you will have to be very lucky on the games to be able to generate profits with this money. The chances of making a lot of money from not much on an online casino are low, but possible.
In any case, you have nothing to lose by trying your luck at an Ethereum casino that offers you a no deposit bonus. Since it’s free money without any consideration, it’s something always good to take.
The rewards of Ethereum 2.0 staking: a significant investment
The Ethereum protocol will soon change from proof-of-work to proof-of-stake. This means that instead of consuming a phenomenal amount of energy as is currently the case, Ethereum’s electricity expenditure will decrease sharply. But to make this system work, they have to create a staking system.
To become a validator, you have to own at least 32 ETH, which is an absolutely colossal sum for most people. This is not a small investment by any means, and seems more like something a whale would take part in.
Still, you have the option to join what is called a staking pool. By pooling your ETH with others, you can add up your digital assets to reach the required amount and share rewards with other users.
However, you need to already have at this ether base to earn rewards by participating in transaction validation. Most likely, you will need to have paid for your ETH to take part. Without this, unfortunately, you will not be able to take advantage of these benefits.
If you don’t want to invest anything, then this is not a viable option to earn Ethereum for free.
Conclusion on earning ETH without an upfront investment
You now know many different ways to get Ethereum without investing a penny out of your own pocket. In addition, we have also presented you with other promising ways of generating ETH, even if they require a substantial initial investment.
As you have seen, it is possible to earn ether without any investment, but unfortunately, the sums up for grabs are usually quite small. Receiving your salary in ETH is the method that will allow you to receive the largest number of ether, even though it is not something common. In addition, the ETH received will be in lieu of a salary normally collected in fiat. This is more or less the same as just investing your salary into ETH.
In our opinion, the existing methods of earning Ethereum for free are interesting, but generally bring in relatively small amounts. So don’t expect to become rich overnight without having invested a penny of your hard-earned cash. This is impossible, and you must not fall into a trap that says otherwise, because it is usually a well-crafted scam that aims to extract as much money from its victims as possible.
If you want to have more potential for earnings, we simply advise you to invest. To do this, you can use one of the secure shopping platforms that you can find at the beginning of the article.
We also have other guides on the Ethereum (insert link). If you’re interested in learning more about this cryptocurrency, we recommend you go for a look at them and check out the articles that catch your eye!
I discovered the world of cryptocurrency in January 2018. Arriving at the worst moment ever to invest did not stop me from learning and later sharing my knowledge in order to promote the adoption of crypto.