Ethereum is the second-most valuable cryptocurrency by market cap after Bitcoin. While it’s relatively easy to buy Ethereum from a crypto exchange, you can also earn ETH for free – and isn’t free always better?
Getting free Ethereum is a great way to start building a crypto portfolio or try out web3 for the first time. In this guide, we’ll explain 10 methods for how to earn free Ethereum today. We’ll also cover how to maximize your earnings and how to put your free ETH to work for you.
Top Methods to Earn Free Ethereum
Here are 10 of the best methods to earn free Ethereum right now:
- Ethereum faucets
- ETH staking
- Crypto airdrops
- Play-to-earn crypto games
- Crypto interest accounts
- Exchange liquidity pools
- Online task websites
- Referral programs
- Bounty programs
- Learn-to-earn crypto platforms
Let’s take a closer look at each of these methods so you can decide which ones to use to start earning ETH today.
1. Ethereum Faucets
Ethereum faucets are one of the best ways to earn Ethereum if you’re new to cryptocurrency. All you have to do is visit a website and click a button or watch an advertisement. ETH will accumulate in your account with each visit, and when you earn enough, you can transfer it to your crypto wallet.
Ethereum faucets typically restrict you from using them to earn free Ethereum once per hour or once per day, so you can’t continuously earn ETH. They’re better for earning a little bit at a time over a long period.
Some of the best Ethereum faucets include FreeBitcoins.com and Linea. There’s typically no limit to how much you can earn from a faucet, and you don’t need to spend any money to start earning.
2. ETH Staking
Ethereum staking involves committing your ETH tokens to a staking pool to help secure the Ethereum blockchain. Every time transactions are verified by Ethereum stakers, they receive a reward in new ETH tokens proportional to their stake. Those tokens are then distributed to individuals who contributed ETH to the pool in the form of interest payments.
ETH staking is widely available through crypto exchanges and dedicated staking platforms like Lido, Rocket Pool, and Pendle. The best place to stake Ethereum today is eToro, which offers 4.3% APY on your staked Ether.
Staking is widely seen as the best way to earn Ethereum if you already own some ETH tokens. It’s relatively safe compared to other methods to earn crypto interest. You can earn higher yields if you lock up your ETH for a set period of time. However, this can increase your risk since your Ethereum is stuck in the staking pool, and you can’t sell it even if the price of ETH starts to drop until you go through a lengthy unstaking period.
Of course, keep in mind that staking ETH requires you to already own Ethereum. So, you must buy or earn Ethereum before you can take part in staking.
3. Crypto Airdrops
Crypto airdrops are giveaways of crypto tokens in which coins are sent directly to individuals’ wallets. They’re very popular as a way to promote new crypto projects and put tokens in the hands of highly engaged users.
Crypto airdrops can deliver Ethereum, but it’s more common that they give away altcoins built on Ethereum. In that case, you’ll need to swap the new token for ETH using your wallet’s built-in crypto swap or another exchange. This essentially allows you to earn free Ethereum by supporting other project communities.
To qualify for a crypto airdrop, you typically need to complete tasks or engage with a project. As an example, there are 11 different ways to qualify for the 99Bitcoins airdrop: you can follow 99Bitcoins on social media, connect to the $99BTC presale, or refer friends to the presale. How many tokens you get when the $99BTC token is airdropped will correspond to how many of these qualifying tasks you have completed.
4. Play-to-Earn Crypto Games
Play-to-earn crypto games are online video games that you can play and that give you crypto tokens or NFTs to complete levels or explore virtual worlds. They have a lot in common with traditional video games, except that you can actually earn cryptocurrency as you play. They’re both entertaining and rewarding.
Most play-to-earn games have their own altcoins instead of allowing users to just earn free Ethereum. However, you’re free to swap any tokens you earn from a play-to-earn game to ETH. You can also sell NFTs you collect in a game for Ethereum.
One thing to keep in mind is that not all of the best play-to-earn Ethereum games are free to join. Some require you to purchase tokens or an NFT in order to start playing and earning. So, an upfront investment may be required to earn Ethereum through these games.
5. Crypto Interest Accounts
Crypto interest accounts work similarly to traditional ones: you deposit crypto, and the platform typically lends it out to earn a return through interest payments. A portion of that return is then passed on to you as crypto interest, expressed as a percentage of your deposit (APY or APR).
Examples of crypto interest accounts, also known as crypto savings accounts, include AQRU, HODLnaut, and LEDN. AQRU pays up to 2% APY interest on Ethereum deposits, which is pretty good considering you don’t have to do anything, and the risk of losing your crypto is very low.
In order to earn free Ethereum using a crypto interest account, you’ll first need to own some Ethereum. So, this isn’t a suitable method if you’re completely new to cryptocurrency and want to get Ethereum without spending any money first.
In addition, keep in mind that crypto interest accounts are different from traditional savings accounts in that they are not insured. There is a very small chance you could lose your crypto if an interest platform fails.
6. Exchange Liquidity Pools
Most decentralized crypto exchanges (DEXs) enable anyone to offer crypto tokens as liquidity for trading. When you do, you’ll earn a small piece of the trading fees that users pay for trading that token.
These trading fees can add up over time, especially if you provide liquidity for a highly traded token. You can contribute your ETH to earn a portion of trading fees in ETH, or contribute an altcoin and convert the fees you’re paid to ETH using the exchange.
As an example, STON.fi, a DEX on the TON blockchain, offers a fixed 0.2% fee for liquidity providers for every trade in a liquidity pool. This fee is shared among everyone in the liquidity pool, and fees can add up if you commit tokens for a long period of time.
The catch is that in order to earn from a liquidity pool, you must already own ETH or another cryptocurrency. The more tokens you contribute to a liquidity pool, the more you stand to earn.
7. Online Task Websites
Online task websites are similar to Ethereum faucets, but they usually require a little more effort on your part to earn free Ethereum. Instead of watching a short advertisement or clicking a button, you’ll earn crypto by completing tasks like answering surveys, sharing content on social media, watching videos, or signing up for specific online services.
Examples of online task websites include Idle Empire and EarnCrypto.com. These sites typically have hundreds of tasks available, so you can keep earning Ethereum as long as you want to commit time and attention to completing tasks.
These task websites can be a great way to earn free Ethereum if you have a few minutes to spare every day—like during a commute or a break. Tasks vary in how much crypto they pay out, giving you options to increase your earnings per hour if you want to complete more complex assignments.
8. Referral Programs
Many crypto exchanges, decentralized finance (DeFi) apps, and new crypto projects have referral programs that pay out crypto. All you have to do is sign up as a referrer, get a personal referral code, and then share your code with friends and family.
For each person who signs up, completes a specific number of trades, or buys tokens—depending on the nature of what you’re referring people to—you’ll get a reward, usually in the form of Bitcoin, Ethereum, or other tokens that can easily be swapped for ETH.
As an example, Binance, the world’s largest crypto exchange, offers a referral program that pays out up to 0.018 BTC (more than $1,100) when you refer other users to the exchange. You can easily convert this Bitcoin to Ethereum using Binance or another token swap.
9. Bounty Programs
Crypto bug bounty programs offer free crypto for developers who identify bugs in Web3 projects, including decentralized apps, token smart contracts, and blockchains. In order to earn crypto from these projects, you must find a bug and report it to the project team before anyone else.
Many major crypto tokens offer bounties through platforms like HackenProof or ImmuneFi. Rewards can be up to $10,000 in crypto or more depending on the importance of the bug you find and report.
Of course, finding bugs is hard work and requires developer skills. So, while this can be a great way to earn a large amount of Ethereum, it’s not suitable for everyone.
10. Learn-to-Earn Crypto Platforms
Learn-to-earn crypto platforms like 99Bitcoins enable you to earn free Ethereum just for completing educational courses. You can learn about new crypto tokens, about the crypto market, or about new trends in Web3.
On 99Bitcoins, you’ll find nearly 80 hours of interactive courses and earn $99BTC tokens for each one you complete. $99BTC can be swapped for Ethereum or staked to earn more $99BTC tokens. Holding $99BTC also unlocks access to exclusive trading signals, which you can use to make profits from the crypto market.
There are other crypto learn-to-earn programs available, including Coinbase and BitDegree. How much you can earn varies at these programs, but it’s typically limited to a few dollars worth of crypto each month.
What Is Ethereum?
Ethereum is a smart contract blockchain that powers many decentralized apps and crypto tokens. Its native token, Ether (ETH), is the second-most valuable crypto token by market cap after Bitcoin.
Ethereum uses proof-of-stake validation, which involves trusted validators to stake ETH and confirm the validity of transactions on the network. In return for their work, stakers receive additional ETH.
In addition, Ethereum supports smart contracts—automated pieces of code that can execute functions on the blockchain. Smart contracts on Ethereum are central to decentralized apps, including DeFi apps, crypto games, token swaps, and more.
The ETH token powers the Ethereum blockchain. It’s used to pay transaction fees on the network and is staked in order to validate transactions.
Why Is Ethereum Valuable?
Ethereum’s ETH token has a market cap of more than $400 billion. The token’s price is driven mainly by supply and demand, but there are a few reasons why ETH is considered to have intrinsic value.
First, ETH is crucial to doing anything on the Ethereum blockchain. Anyone who wants to use the Ethereum network—from individual users sending money to developers building apps – need ETH to pay for transaction fees. That creates demand for ETH tokens and drives up their price.
ETH is also required to validate transactions on Ethereum. In Ethereum’s proof-of-stake model, validators must put up ETH tokens as collateral in order to approve transactions. That creates additional demand for ETH.
Another reason ETH has value is that it can be used to generate more crypto wealth. Anyone who owns ETH can stake it to validate transitions and earn ETH rewards for their participation in the network. This accumulated ETH can then be used to pay for transactions on Ethereum, reinvested into staking, or converted to another cryptocurrency or fiat.
Preparing to Earn ETH – Setting Up an ETH Wallet
In order to start earning free Ethereum, you first need an Ethereum-compatible crypto wallet. There are many options available, but we recommend Best Wallet.
This free ETH wallet gives you complete control over your cryptocurrency, has a built-in decentralized exchange for token swaps, and includes portfolio management features to help you track your crypto holdings. Best Wallet also has an upcoming airdrop of its $BEST token, which you can convert to Ethereum within your wallet.
You can download Best Wallet to your smartphone from the Apple App Store or Google Play. Create an account and set a password, then write down your seed phrase and store it somewhere secure. You’ll need this seed phrase to access your crypto wallet on another device.
Once Best Wallet is set up, you’re ready to start earning ETH. You can enter your wallet address to have any ETH you earn sent straight to you.
How to Maximize Your Ethereum Earnings
Few of the options for earning free Ethereum give you huge amounts of tokens. Rather, you’ll get small amounts of Ethereum, so you’ll need a strategy to turn your initial stash of ETH into a pile of tokens. Here are a few tips.
1. Earn a Little ETH Every Day
In order to earn free Ethereum most effectively, you will need to practice consistency. You’ll earn far more ETH if you visit an Ethereum faucet or complete a few ETH-paying tasks every day than if you try to do too much at once and burn out. Airdrops also require consistent engagement to earn the most tokens, so taking a slow and steady strategy is more likely to pay off.
2. Make Earning Fun
You’re more likely to be consistent about earning Ethereum on a daily basis if the process feels fun. If you don’t like completing tasks, then focus on play-to-earn games or simple-to-use faucets. If playing games to earn Ethereum feels like a burden, focus on engaging with new projects to qualify for airdrops.
Try out several of the different methods we recommended and see which ones best suit your schedule and feel engaging. You can also rotate from one earning approach to another over time to keep the experience of earning Ethereum fresh.
3. Reinvest Your Earnings
As soon as you start earning ETH, it’s important to reinvest it. You can put your Ethereum to work generating more ETH by depositing it in a crypto interest account, staking it to secure the Ethereum blockchain, or contributing to an exchange liquidity pool. You can even use your ETH to trade cryptocurrency or invest in crypto presales, which have the potential to deliver significant returns.
Staying Safe While Earning Ethereum
It’s important to protect yourself and your cryptocurrency when working to earn free Ethereum. Always make sure you’re using a trusted and secure crypto wallet. Write down the seed phrase somewhere secure so you can recover your funds if you lose your password, and never store your seed phrase in the cloud.
You should also be aware of scams, especially when it comes to crypto interest accounts or stalking pools that require you to deposit cryptocurrency. Look at reviews of each service before using it, and double-check that you’re at the correct URL for a platform rather than at a copycat site.
Many ways to earn ETH don’t require you to first deposit crypto. In these cases, never send crypto or provide details other than your wallet’s public address.
Reinvesting Free Ethereum
Once you get ETH, one of the best things to do with it is to reinvest it to keep growing your portfolio. There are several options for how to reinvest your Ethereum, including staking it, putting it in a crypto interest account, and depositing it in an exchange liquidity pool.
In addition, you can use your free Ethereum to trade other cryptocurrencies. This requires an understanding of how prices move in the crypto market, but there are also trading bots and crypto trading signals that can make it easier to get started. Depending on what you want to trade, you may need to temporarily convert your ETH to BTC, USDT, or another cryptocurrency.
Conclusion
The 10 ways we covered for how to get free Ethereum can help you start building a crypto portfolio today and boost your crypto earnings. You can get started right away with Ethereum faucets, learn-to-earn platforms, and online task websites. Once you have a little bit of ETH, you can earn interest on Ethereum through staking, interest accounts, or exchange liquidity pools.
FAQs
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References
- What Is a Crypto Airdrop? (CoinDesk)
- What Are Play-to-earn Crypto Games? (Kraken)
- What Is Ethereum Proof-of-stake (Ledger)
