The inflation is blowing like a strong winter wind and cutting through everyone’s expenses like ice daggers. Everyone in this scenario including the top-tier Crypto investors are looking for ways to accumulate crypto to increase their portfolio with little or no cost.
In this article, I have put together 7 legitimate ways to accumulate crypto with little or no cost and increase your portfolio amidst the bear pressure.
The principle of profitable trading is to buy low and sell high, every experienced crypto trader knows this. Crypto wallets and portfolios are usually stacked during a bear market.
We are currently in the longest bear market in the history of cryptocurrency trading, for some traders that is bad news but for others that is good news.
If you were of the opinion that nothing good can come out of this bear market, then you will have a change of thought after reading through this article.
Every bear market ushers in the next popular protocol or breakout token. While some traders and investors are looking to increase their portfolios with the next big projects, it is wise to not be left out when the bull market eventually comes.
To avoid any regrets, here are 7 legitimate ways to accumulate crypto and increase your portfolio without robbing the bank or committing any crimes.
Ways to Accumulate Crypto With No Cost
As pointed out earlier, the best time to accumulate is during the bear market, and here 7 legitimate ways to do that in no particular order;
1. Mobile Mining Apps
There are apps that allow you to mine crypto on your device as you use them. If you continuously use these apps, you get crypto as rewards and you can withdraw them directly to your custodial wallet when they reach a particular withdrawal limit.
Many new crypto projects use this method for recruiting or onboarding members to their platform. This is a very cheap method of accumulating crypto during an inflationary bull market.
Most of these apps can be found on your app play store. Some of them are found on the google play store and some of them can be found in the Apple store. Below are some of the apps that can help you mine crypto;
2. Joining Crypto Communities
Another way to keep bringing in the crypto stash is by joining the crypto community for as many projects as possible and remaining active. When you stay active in the community you give yourself the opportunity to miss nothing.
When you are aware of all the events in the community, you can choose to participate in games and contests that will give you the opportunity to win rewards. The rewards can be the project’s local token or stable coins depending on the nature of the project.
Participating in the community’s games, contests and AMAs will give you the opportunity to win Crypto which is directly paid to your crypto wallet.
3. Crypto Staking
This is the most tested and proven way to accumulate tokens because many proof-of-stake (PoS) networks offer steady and high yields for locking up coins.
You might be wondering how your staked coins will benefit the network, well, your staked coins will help with transaction validation and network security.
Also, crypto staking reduces the circulating supply, which will in turn help boost the price of the crypto token.
Before you begin your staking journey it is important that you apply caution and do your due diligence on the project.
However, certain projects have a track record of standing the test of time and withstanding any kind of bear market. Projects like this are identified by their trading volume and an active and growing community of users.
Some of the best projects that fall into this category include Ethereum, Cosmos, Fantom, Solana, Avalanche, Polygon and Polkadot among others.
You can engage in crypto staking via a centralised or decentralised exchange depending on which platform you are very familiar with.
After you have done due diligence and determined the project’s token you intend to stake, the next thing to pay attention to is the Annual Percentage Yield (APY). The higher the APY the higher the daily, so only stake the tokens when you are satisfied with the APY.
4. Participating in Airdrops
Since the inception of Cryptocurrency, Airdrops have been one of the viable ways to earn crypto at no cost. New and upcoming projects give out their tokens to members of their as a means of promoting and marketing their tokens.
To participate in an Airdrop, you must find the projects that are offering Airdrops and see whether or not you are eligible to participate.
There are certain websites where you can find trending Airdrops and how to apply for them. Top on the list of these websites for me is airdrop.io.
5. Getting Crypto Jobs
Getting Crypto jobs that pay in cryptocurrency is another genuine way to grow your stash without spending much or breaking a Bank. To get jobs like this, you first have to learn a crypto skill related to the job in question.
There are numerous job roles available in the crypto industry, from the most technical roles available to developers to the least technical role such as community moderation or Ambassadorial roles.
You can earn fiat currency or be paid in the local token of the project you are working with. In most cases you are allowed to negotiate, so always ask to be paid in Crypto as your weekly or monthly payments will add value to your crypto portfolio.
6. GameFi and Play 2 Earn Games
The last bear market saw the emergence of GameFi and play-to-earn (P2E) protocols. These protocols offer game lovers the ability to earn money in crypto while doing the very thing love. So if you are an avid gamer, you can keep your crypto stash weighty by just doing what you love.
Contrary to what most people thought, GameFi and Play 2 Earn games have stood strong in this crypto winter so far. Their tokens have maintained significance through this bear run.
While token prices for the most popular play 2 earn games like Axie Infinity (AXS) have gone through the roof. This has had a negative impact on the earning ability of players. Regardless of the negative impact, the sector remains one of the most active in the crypto space.
There are many play-to-earn and gamefi projects so some of them may require an upfront investment, in order to price out many who are looking for no-cost ways to earn crypto.
However, certain protocols like Merit Circle and Yield Guild Games have an option to rent or borrow the necessary tokens for a small commission that is taken out of earned rewards.
In the above ways, you won’t have problems accumulating crypto for the bull seasons and having an edge over the inflation. All that is left is to start putting this knowledge into practice and share it with friends.