How to build a crypto portfolio without spending any money or time trading
Investing in cryptocurrencies does not essentially require one to have a bank account or spend actual money to buy Bitcoin and Ethereum and other altcoins. With crypto, it doesn’t always take money to earn money.
An alternative way to create an investment wallet and earn cryptocurrency is to complete a diversity of tasks on several Web3 platforms.
Using platforms like decentralized applications (Dapps) and decentralized finance (Defi), users can earn cryptocurrency and then exchange, sell or hold it in either decentralized or centralized wallets without even having to spend a dime.
Going further, we would discover a few ways to build a crypto portfolio without linking a bank account.
Interact with Web3 browsers
Among the various ways of experimenting with different crypto platforms, a user who has knowledge of how a cryptocurrency works or the process of downloading wallets and transactions on-chain can simply interact with the technology, by replacing a Web2 technology with a Web3 alternative browser.
By making money through selling users’ data to advertisers, Google controls the web browser and search engine space. Users can earn Basic Attention Token (BAT) by using the alternative platform; Brave browser and gaining full control over their data while searching.
This particular browser delivers a more decentralized search experience for the users as it does not sponsor their search engine posts, thereby allowing them to earn from their activities on advertisers’ websites. It promotes the security and privacy of data given that the browser doesn’t collect users’ data in the first place.
The brave browser puts the users first and this means sharing any ad revenue they generate directly with the users. Presently, it shares a full 70% of the revenue earned through these inconspicuous, privacy-preserving ads with the users as Brave rewards. Some users might decide to sell their earned BAT on centralized exchanges or through Web3 wallets like MetaMask.
Social media content creation and free NFT mints
As the popularity of NFTs continues to develop, crypto investors can use a range of free software to evaluate the wallet addresses of successful NFT investors that minted high-value NFTs and also attempt to find free NFT minting and whitelist opportunities. There is a remarkably high number of ways to get free NFTs in recent times.
There are consistent methods and also methods that yield more exponentially than the rest. Some projects release free NFT mints or airdrop NFTs to users in their bid to get the projects rising. The best way to find free mints would be to get active in the NFT community. Quoting Colin Helm, the CEO of a free-to-play metaverse platform Caesarverse notes the importance of free NFTs in the space. According to him:
“If users follow social media and community channels closely, they can always find very generous raffles, gain some assets that improve their gameplay experience and build their crypto portfolio just from playing games they may enjoy.”
Some of the users that have worked the free minting system have generated NFTs that ultimately reached a 10 ETH floor. Just the same way NFTs entail a social media base for advertising, new blockchains and procedures also require enormous amounts of analysis and a user base in order to guarantee sustainable development at launch.
Arbitrum, a type of blockchain technology known as optimistic rollup does not have a token yet, but when a piece of information about an eventual airdrop reaches the blockchain, it tends to invite users to the protocols inside the Arbitrum space.
On the 6th day of September 2022, 1-inch users on Optimism received an airdrop of 300,000 OP for their prelaunch usage of the blockchain. Users that are not tech-savvy can make a lot of cryptocurrency from social activity-based airdrops. Users may need to follow, like and share certain accounts on social media with social airdrops. And in order to receive these social airdrops, users will probably need to use a decentralized wallet like MetaMask.
Bug bounties and beta tests
There are a lot of hidden bugs in blockchain and cryptocurrency platforms that hackers are trying to discover in order to take advantage of the system. Bug bounties are presented in the light that security weaknesses will be recognized and reported to the owner of the software before they can be exploited by a despicable actor.
In crypto, bug bounties are often offered by cryptocurrency businesses such as protocols, exchanges and wallet operators. Beta testing, on the other hand, offers the opportunity for users to use a product in a production environment with the aim of exposing any bugs or issues before the official release to the public.
Various crypto and DeFi projects have set tokens aside for marketing, bug finding, beta testing and content creation tasks. Several crypto investors earn tokens by evaluating, testing, and creating brand designs, market materials, music and other content. So showcasing your skills in either of these crypto projects is a first step.
Jenny “DJen” Schorsch’s experience regarding how she built a brand and started in crypto without initial costs in the following quote:
“Start by creating value for the community for free first. After you have your community, you start generating profit and assets with them. I started using NFTs for ticketing and allowed Web3 companies sponsorships for my favourite projects. Before I knew it, people were offering me crypto for participating in events.”
From reports, we have seen that unlike what most users think, you don’t necessarily need a bank account or actual money in order to interact with blockchains and cryptocurrency. With more or less effort, aspiring crypto investors can earn cryptocurrency and NFTs without having to pay any initial fee. The essential factors are your time and efforts.
