Free crypto is basically free money, and the more you have, the better chances of growing your cryptocurrency holdings and reaching your investment goals.
There are several ways you can earn free bitcoin fast in legitimate ways in Canada. Much like how companies and banks offer a sign up bonus, cashback rewards, or other incentives, many Canadian crypto companies do the same thing.
In this article, we will explore some of the ways in which you can earn free bitcoin and other crypto.
1. Sign Up Bonuses to Get Free Bitcoin
Years ago, when bitcoin first appeared, it wasn’t easy to get hold of, let alone, free bitcoins. Today it’s a different story. There are many different crypto exchanges trying to get the most customers. They are all competing with each other for your attention.
So, as with other businesses and banks, they have to do something to make them stand out and appeal to the most customers. This is where a referral bonus and incentives for free bitcoins comes in.
Many crypto exchanges in Canada will offer free bitcoin or free money in fiat on your account opening, which you can then trade for any crypto, including bitcoin. Below, we have listed some top exchanges for Canadians that offer a sign up bonus to new users. When you sign up to these exchanges, you can then get your own referral links and give them to friends and other users. When they use your link, you will both earn a bonus.
CoinSmart ($50 in free BTC)
CoinSmart is a Canadian exchange that offers $20 in free BTC when you sign up here and fund your account with $200 with promo code “OCRYPTO”. CoinSmart offers crypto trading for both beginners and more advanced users. You can deposit Canadian dollars using Interac e-Transfer and trade many popular cryptocurrencies including bitcoin, bitcoin Cash, Ethereum , and more.
Netcoins ($20 in fiat)
Netcoins will give you $20 in fiat if you sign up here and trade $100 worth of crypto. Netcoins is an exchange that offers popular cryptocurrencies as well as crypto credit cards for even more free coins.
Shakepay ($30 in fiat)
Sign up to Shakepay and you’ll get $30 in fiat when you trade $100 of BTC or ETH. Shakepay is a popular Canadian crypto exchange to buy bitcoin and Ethereum. You can deposit fiat money via Interac e-Transfer.
Bitbuy ($30 in fiat)
Bitbuy offers new users a welcome bonus of $20 in fiat when you sign up here, which you can trade for free BTC or any crypto of your choice. Just make a deposit of $250 and the bonus is yours. One of the most popular places for crypto trading, Bitbuy is one of Canada’s most reputable exchanges offering some of the lowest trading fees around but quite high deposit fees though (1.5%).
Newton ($25 in fiat)
Newton is a Canadian crypto platform that offers a simple trading platform for beginners. It also offers $25 in fiat when you sign up here and trade $100 worth of crypto. Newton is a no-fee crypto exchange and is fast becoming one of Canada’s top exchanges.
Wealthsimple Crypto ($50 in fiat)
Sign up to Canada’s most popular regulated crypto exchange Wealthsimple Crypto and receive $50 in fiat, which you can trade for free bitcoin. All you have to do is trade $150 worth of crypto to receive the bonus. Wealthsimple also offers stocks, crypto ETFs, TFSAs, RRSPs, and a savings account so you can keep all of your investments in one place.
NDAX ($10 in fiat)
You can see that there are several exchanges where you can earn free cryptocurrency. Other cryptocurrency exchanges will also offer referral bonuses but these are the exchanges we recommend. If you signed up and qualified for all of the bonuses, you would receive a total of $235 free!
2. Free Bitcoin Cashback with Crypto Cards
As with regular credit cards from a bank, crypto credit cards in Canada will usually give you shopping rewards as well. These cards are a great way to earn passive income when you shop online or spend money.
Here are some of the most popular cards for Canadians that allow you to earn crypto rewards on your everyday spending.
If you’re wondering how to get bitcoin for free then the Shakepay card is the answer. Shakepay is one of the few cards where you can earn free bitcoins when you spend money. Earn 1% in free bitcoin on your purchases and an additional 1% on the first $5,000. You can move your free bitcoin to a private wallet if you wish, or keep it on the exchange to trade for Ethereum. The Shakepay card allows you to get free bitcoin easily and earn BTC on your everyday spending. Use this link to get a free $30 to your card!
You can also get free bitcoin easily with Netcoins. Netcoins offers free BTC for online shopping and in-store purchases. When you use the Netcoins card you can get 3% back in bitcoin for the first three months then 1% back in free bitcoin thereafter. Use this link to get a free $20 to your card!
Crypto.com has several tiers of credit cards depending on how much Cronos (CRO) you lock up. You can receive between 1% and 5% on your spending paid in CRO. The Crypto.com card is therefore a great way to earn free crypto.
Coinmiles doesn’t offer credit cards, but it does offer free bitcoin when you shop online. You can earn up to 30% in free bitcoin when you use any of the links on Coinmiles and make a purchase. Your bitcoin rewards will be automatically credited to your account and you can cash out any time and deposit your free rewards to your bank account.
Coinmiles offers various products and some of Canada’s favourite brands including Nike, Walmart, and Canadian Tire, so it’s a great way to get free bitcoin on everyday purchases.
For more information on crypto cards, you can read our previous article on the best crypto Visa cards for Canadians.
3. Free Crypto via Staking
One of the most popular ways to earn free bitcoin is to stake your cryptocurrency holdings. Staking means to put your crypto to work and allow it to validate the transactions on the network.
All you have to do is lock up your crypto for a certain time period. The crypto exchange you use will take care of the rest, meaning you can sit back and watch your free cryptocurrency stack up.
Crypto.com offers staking rewards on many more cryptocurrencies including bitcoin and stablecoins. You can earn interest up to 8% a year when you stake stablecoins such as USDC, DAI or TrueCAD. You can earn 4% a year when you stake bitcoin. Your rewards will be paid in whichever cryptocurrency you stake, so stake bitcoin and you can earn free bitcoins.
Other exchanges will also offer staking but it’s best to shop around to find the best deals.
It’s possible to also stake some cryptocurrencies directly through your Ledger hardware wallet. This is great because it means you can keep your cryptocurrencies secure in your crypto wallet while also earning rewards. You can manage your staking directly in the Ledger Live app and your rewards will be deposited there directly as well.
4. Perform Micro Tasks
There are some micro tasks you can do to earn bitcoins and crypto. Although the amount of crypto you earn will be small, it is still free and can add up over time.
Shake Your Phone
You can get free bitcoin fast with Shakepay. If you sign up to Shakepay, you can earn free satoshis by shaking your phone. You heard that right. Every day, you can open the Shakepay app and shake your phone to earn free bitcoins. The more consecutive days in a row you shake, the more you will earn, though you will hit a cap eventually. If you do this every day you can earn a few dollars every month in free bitcoin.
Learn and Earn
There are also ways you can earn crypto by taking quizzes on both CoinMarketCap Earn and Coinbase Learn and Earn. Both of these websites offer quick and easy quizzes you can take to earn free crypto.
The benefit is you get to learn a little more about cryptocurrencies while earning crypto rewards. Just watch their short videos and then take the quiz to earn crypto.
5. Take Advantage of Airdrops
Often, crypto projects or exchanges will do an airdrop. An airdrop is when a cryptocurrency is automatically sent to your wallet. If you participate in an airdrop you can earn crypto.
Usually, an airdrop is a marketing strategy also with initial coin offerings used to promote a new cryptocurrency. Sometimes there are things you need to do to qualify for the airdrop, but often these are simple tasks like signing up on a website or participating in the online community.
Sometimes, you have to hold another cryptocurrency in your wallet. If this is the case, a “snapshot” is taken of all wallets to prove who held the coin, and then the new crypto is airdropped to your wallet.
Airdrops of new cryptocurrencies are popular because that crypto could turn out to be successful and rise in value sometime down the line. You could also trade the crypto for another one of your choice.
How to Find Airdrops
To find airdrops, keep up to date with your favourite crypto exchanges on social media. Be careful of crypto scams, though. Never connect your wallet or approve a transaction on a website you aren’t familiar with. Be wary of phishing links as well. The safest way to participate in an airdrop is via a reputable crypto exchange like Binance.
6. Crypto Mining
Mining crypto is for proof of work coins like bitcoin. How does bitcoin mining work? Miners solve computational puzzles and the first miner to solve the puzzle “wins” and gets to add the next block (filled with transactions) to the blockchain. The prize is free bitcoin.
You cannot mine bitcoin with a regular computer, however. You need lots of computing power. In fact, you need so much computing power that you will need to buy specialized bitcoin miners as well as somewhere cool to house them. These can cost thousands of dollars, but over time, you will earn new coins, enough to get back your initial investment and then profits thereafter. Bitcoin mining can therefore be quite lucrative.
Cloud Mining with ECOS
However, if you cannot afford bitcoin miners or you don’t have a place to store them, you can use a cloud mining service such as ECOS to earn bitcoin. You can buy a cloud mining contract and ECOS will take care of the miners for you. Your free bitcoins will be deposited to your online account daily.
Alternatively, you can buy bitcoin miners through ECOS and they will house them and host them for you. For more information on bitcoin mining and cloud mining, read our previous article about ECOS.
7. Get Rewards
Another way to earn free bitcoin and other crypto is by doing everyday tasks. Use the Brave Browser to earn BAT, just by surfing the internet. With Brave, you can choose how many ads you see when you browse the internet. The more ads you choose to view, the more you will earn. All you need to do is install the Brave Browser on your computer and set up an account to start earning free crypto.
You can also play games to get free bitcoin. CoinHuntWorld is a popular mobile game that involves walking outside and solving puzzles to earn.
As you can see, there are many ways to earn free bitcoin and free crypto. You can stake your crypto and earn interest, which is far better than a traditional savings account.
You can earn passive income by spending with a crypto credit card, or you can get free crypto just by browsing the internet, taking a few quizzes, online games, and shaking your phone.
There are also ways to earn crypto by playing games such as Axie Infinity. Earning crypto has never been so easy.