How to Build a Crypto Portfolio in 2024?

by Dec 8, 2023Blockchain Technology0 comments

You can start building a crypto portfolio without spending any money or trading your time. Some people believe that you need money to make money, but that’s not true in the world of cryptocurrency. Here are a few free methods to get started. Instead of connecting your bank account and buying cryptocurrencies like Bitcoin (BTC) or Ether (ETH), there are other ways to earn cryptocurrency and build your portfolio. One option is to collect official digital collectibles from platforms like Cointelegraph. You can also participate in various tasks on Web3 platforms to earn cryptocurrency. By using decentralized applications and decentralized finance (DeFi) platforms, you can earn cryptocurrency without spending any money. Once you have earned crypto, you can choose to swap, sell, or hold it in centralized or decentralized wallets. So, if you don’t want to connect your bank account, there are still ways to build a crypto portfolio.

What are the common barriers that prevent people from investing in cryptocurrencies?

Investing in cryptocurrencies can be challenging and risky, as it requires knowledge, skills, and resources. Some of the common barriers that prevent people from investing in cryptocurrencies are:

  • Lack of funds: Many people do not have enough money to buy cryptocurrencies or pay for the fees associated with trading them.
  • Lack of time: Many people do not have enough time to research, analyze, and monitor the market trends and opportunities for trading cryptocurrencies.
  • Lack of access: Many people do not have access to reliable and regulated platforms that allow them to buy and sell cryptocurrencies easily and securely.

Fortunately, there are ways to overcome these barriers and build a crypto portfolio without spending any money or time trading. In this article, we will show you how to do that by using various Web3 platforms and services that allow you to earn cryptocurrencies for free by completing simple tasks or interacting with technology. If you want to learn about Web3, read our article on “How to Invest in Web3.”

What are some ways to earn cryptocurrencies on Web3?

Web3 platforms and services offer various opportunities for users to earn cryptocurrencies for free by providing value to the network or the community. Here are some ways to earn cryptocurrencies on Web3:

1. Interacting with Web3 browsers

One of the easiest ways to earn cryptocurrencies for free is by interacting with Web3 browsers. Web3 browsers are alternatives to traditional web browsers that allow users to access DApps and blockchain networks directly from their devices. If you want to learn more about blockchain, read our article about “Best Books on Blockchain in 2023.”

Web3 browsers also reward users for their activity and attention by sharing advertising revenue or providing incentives.

  • One of the most popular Web3 browsers is Brave, which is based on Chromium and compatible with Chrome extensions. Brave blocks ads and trackers by default, enhancing the user’s privacy and security. Brave also allows users to opt-in to view privacy-respecting ads from verified publishers and advertisers and earn Basic Attention Token (BAT) for doing so. BAT is an ERC-20 token that can be used to tip content creators, access premium services, or exchange for other cryptocurrencies.
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Brave
  • Another Web3 browser is Status, which is based on Ethereum and compatible with DApps. Status is more than just a browser; it also provides a messenger, wallet, and marketplace. Status allows users to communicate securely and privately with end-to-end encryption. Status also allows users to store, send, and receive cryptocurrencies and NFTs. Status also allows users to discover and access various DApps and services on the Ethereum network.
Status

2. Creating content and minting NFTs

Another way to earn cryptocurrencies for free is by creating content and minting NFTs. If you want to learn about NFTs, read these articles:

NFTs have become a popular way for content creators to monetize their work and connect with their fans. Content creators can mint their own NFTs using various platforms and marketplaces that support different blockchains and standards. Some of the popular platforms for minting NFTs are:

  • OpenSea: OpenSea is one of the best NFT marketplaces of 2023. Actually, it is the largest marketplace for NFTs on Ethereum. OpenSea allows anyone to create, buy, sell, and discover NFTs across various categories, such as art, gaming, sports, etc. OpenSea also supports gas-free minting using the Polygon network.
OpenSea
  • Rarible: Rarible is a community-owned platform for creating and trading NFTs on Ethereum. Rarible allows anyone to create their own NFTs using various tools and templates. Rarible also rewards users with its own governance token (RARI) for creating and buying NFTs on its platform.
Rarible
  • Mintable: Mintable is an easy-to-use platform for creating and selling NFTs on Ethereum and Binance Smart Chain. Mintable allows anyone to create their own NFTs using various formats, such as images, videos, audio, texts, etc. Mintable also supports gas-free minting using the Zilliqa network.
Mintable
  • Minting NFTs: Minting NFTs is the process of creating and registering a unique digital asset on the blockchain. Minting NFTs requires paying a fee, called gas, to the network to process and validate the transaction. The gas fee varies depending on the network congestion and the complexity of the transaction. Minting NFTs can be a lucrative way to earn cryptocurrencies, as some NFTs have sold for millions of pounds in the market.

3. Participating in bug bounties and beta tests

Another way to earn cryptocurrencies for free is by participating in bug bounties and beta tests. Bug bounties are programs that reward users for finding and reporting bugs or vulnerabilities in software or platforms. Beta tests are programs that allow users to try out new features or products before they are released to the public. Both bug bounties and beta tests can offer cryptocurrencies as incentives for users who provide valuable feedback or suggestions.

Some of the platforms that offer bug bounties and beta tests for cryptocurrencies are:

  • Gitcoin: Gitcoin is a platform that connects developers and projects in the Web3 space. Gitcoin offers various opportunities for users to earn cryptocurrencies, such as bounties, grants, hackathons, quests, and more. Users can choose from various categories, such as security, design, development, documentation, etc.
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Gitcoin
  • HackerOne: HackerOne is a platform that connects ethical hackers and organizations in various industries. HackerOne offers various opportunities for users to earn cryptocurrencies, such as bounties, challenges, events, and more. Users can choose from various categories, such as web, mobile, blockchain, smart contracts, etc.
HackerOne
  • Testnet: Testnet is a platform that allows users to test new products and services before they are launched. Testnet offers various opportunities for users to earn cryptocurrencies, such as beta tests, surveys, reviews, and more. Users can choose from various categories, such as gaming, finance, social media, etc.

4. Joining airdrops and referrals

Another way to earn cryptocurrencies for free is by joining airdrops and referrals. Airdrops are programs that distribute free tokens or coins to users who meet certain criteria or perform certain actions. Referrals are programs that reward users who invite other users to join a platform or service.

Some of the platforms that offer airdrops and referrals for cryptocurrencies are:

  • Coinbase: Coinbase is one of the largest and most popular platforms for buying and selling cryptocurrencies in the world. Coinbase offers various opportunities for users to earn cryptocurrencies, such as airdrops, quizzes, tutorials, and more. Users can learn about different cryptocurrencies and their use cases while earning them for free.
Coinbase
  • Binance: Binance is another one of the largest and most popular platforms for buying and selling cryptocurrencies in the world. Binance offers various opportunities for users to earn cryptocurrencies, such as airdrops, staking, savings, lending, and more. Users can also earn commissions by inviting other users to join Binance using their referral link or code.
Binance
  • Uniswap: Uniswap is a decentralized exchange (DEX) that allows users to swap any ERC-20 token without intermediaries or fees. Uniswap also has its own governance token (UNI), which gives users voting rights and a share of the protocol’s revenue. Uniswap distributed UNI tokens to its early users and liquidity providers as an airdrop in 2020.
Uniswap

5. Playing games and gambling

Another way to earn cryptocurrencies for free is by playing games and gambling. Games are applications that allow users to have fun and compete with other players while earning cryptocurrencies or NFTs. Gambling is an activity that involves wagering cryptocurrencies on uncertain outcomes or events.

If you want to learn about different play-to-earn games read the articles below:

Some of the platforms that offer games and gambling for cryptocurrencies are:

  • Axie Infinity: Axie Infinity is a game that allows users to collect, breed, battle, and trade digital creatures called Axies. Axies are NFTs that have different attributes, skills, and appearances. Users can earn cryptocurrencies (AXS) or NFTs (SLP) by playing the game or selling their axes on the marketplace. If you want to learn more about this game, read our article about ”How To Play Axie Infinity.”
Axie Infinity
  • CryptoKitties: CryptoKitties is a game that allows users to collect, breed, trade, and play with digital cats called CryptoKitties.CryptoKitties are NFTs that have different traits, personalities, and appearances. Users can earn cryptocurrencies (ETH) or NFTs by playing the game or selling their CryptoKitties on the marketplace.
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CryptoKitties
  • Stake: Stake is a platform that allows users to gamble with cryptocurrencies on various games, such as slots, roulette, blackjack, and more. Stake also has its own token (STAKE), which gives users access to exclusive features, bonuses, and rewards. Users can earn cryptocurrencies (BTC, ETH, LTC,etc.)or tokens (STAKE)by playing the games or referring other users to join Stake.

Conclusion

Building a crypto portfolio without spending any money or time trading is possible by using various Web3 platforms and services that allow you to earn cryptocurrencies for free by completing simple tasks or interacting with technology. Some of the ways to earn cryptocurrencies on Web3 have been discussed in this article. By using these methods, you can build a crypto portfolio without spending any money or time trading. However, you should always do your own research and due diligence before using any platform or service, and only invest what you can afford to lose. You should also be aware of the risks and challenges of investing in cryptocurrencies, such as volatility, security, regulation, and competition.

FAQ

What is Web3 and why is it important for earning cryptocurrencies?

Web3 is a term that refers to the next generation of the internet, which is powered by blockchain technology and decentralized applications (DApps). Web3 aims to create a more open, fair, and inclusive web, where users have more control over their data, identity, and assets. Web3 platforms and services offer various opportunities for users to earn cryptocurrencies for free by providing value to the network or the community.

How can I store my cryptocurrencies securely after earning them for free?

You can store your cryptocurrencies securely by using various methods, such as online platforms or hardware devices. Online platforms are the easiest and most convenient way to store your cryptocurrencies, as you can access your funds anytime and anywhere with an internet connection. However, this also exposes your funds to the risk of hacking, phishing, or platform failure. Therefore, you should choose a platform that has high security standards and backup systems. Hardware devices are the most secure way to store your cryptocurrencies, as you can keep your funds offline and away from hackers. However, this also requires more effort and cost to set up and maintain. You should choose a method that suits your needs and preferences.

How can I monitor my crypto portfolio and sell my cryptocurrencies when I want?

You can monitor your crypto portfolio and sell your cryptocurrencies by using various tools and resources that allow you to track the price movements of cryptocurrencies and the market conditions that affect their value. Use charts, indicators, news, forums, podcasts, etc. to analyze the market trends and opportunities. You can also use various strategies to maximize your returns, such as dollar-cost averaging, diversification, risk management, and trading signals. You can also use social trading features, such as eToro’s CopyTrader and CopyPortfolios, to follow or copy the trades of other successful investors or join communities of like-minded traders. When you want to sell your cryptocurrencies, you can do so by following a similar process as buying them. You will need to enter the amount of GBP or BTC that you want to sell and click on the “Sell” button.

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Please note that the cryptocurrency market is highly volatile and involves substantial risks. You should carefully consider your own financial situation and risk tolerance before engaging in any cryptocurrency-related activities.

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