How To Invest In Cryptocurrency Without Actually Investing

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Americans who have not yet invested in cryptocurrency are now in the minority. According to recent stats, nearly 150 million adults in the US — more than 55 percent of the adult population — have some crypto in a digital wallet. Another 45 million say they plan to become crypto holders in the coming year. FOMO, fueled by stories of ordinary people who have become crypto millionaires, seems to be pushing crypto into the mainstream.

Still, there are those for whom the fear of losing money overshadows the fear of missing out. After all, the growth of crypto’s popularity has not fixed its problem with volatility. Seeing “crypto” and “crash” sharing a headline was not unusual in 2022. Deteriorating market conditions in early November sent Bitcoin, which is considered to be among the safest crypto investments, sliding to a two-year low.

To help those who are interested in crypto, but not interested enough to risk their own funds, a growing number of businesses have launched programs that allow for a low-risk entry. By essentially giving crypto away for free, these programs allow anyone to invest in crypto without actually investing. Here are some examples of how those programs work.
 

Earning crypto cash back on credit cards

Cash-back credit cards have been around for nearly 40 years. Their concept is simple: spend money and get money back. Recently, some card issuers have updated the concept. Now, consumers who spend money get crypto back.

For those who want to begin building a crypto portfolio without shelling out any money, these cards fit the bill. The important thing to keep in mind when selecting a card — and there are many to choose from — is that not all crypto is created equally, so investors should make sure that they can get the crypto they want as a reward. Some cards are flexible while others limit rewards to the crypto of their choosing.
 

Acquiring crypto through consumer rewards programs

Consumer rewards programs are a cousin to cash-back cards. They operate on the same concept of “spend cash to get cash,” but they use a platform like a website instead of a credit card to facilitate the spending. The sites typically provide access to a wide range of vendors, meaning consumers can earn crypto when they shop for anything from airfare to athletic equipment to alcoholic beverages.

Just like with crypto rewards credit cards, it is important to pay attention to the site’s payout process. Rewards may be limited to certain types of crypto, which could mean users end up with a reward that is not much of an investment. In addition, the frequency of payouts can vary from platform to platform, so look for platforms where the process for getting crypto to a wallet is quick and easy.
 

Untapping crypto faucets

Crypto faucets are tools that are used by digital asset service providers, such as crypto exchanges, to encourage users to wade into the world of crypto. Basically, they reward users with small amounts of free crypto for taking the time to learn about crypto. The programs are called “faucets” because they drip small amounts of crypto into a wallet for the user. Their goal is to increase the user’s comfort level and inspire them to start investing in larger amounts.

To benefit from a faucet, users typically watch videos, take quizzes, fill out surveys, or play games. When prescribed tasks are completed, small amounts of crypto are added to micro-wallets. Once the micro-wallets are full, the amount is transferred to a user-designated account.
 

Avoiding crypto scams

Getting crypto without paying for it is such a good deal, in fact, that scammers will often use the promise of free crypto to hook their victims. Reports show that crypto scammers have stolen more than $1 billion in 2021 alone. Giveaway scams, which surface frequently on social media, are considered to be a common ploy.

Before diving into any rewards program, users should ensure they are legitimate. Failure to practice due diligence could result in losing a lot more than the little crypto they may have accumulated.

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