How to earn free Ethereum?

Ethereum isn't just the second largest cryptocurrency token: it's a huge global shared computer powered by code called "Smart Contracts" that anyone can upload.

This means that other companies (or even people) can create their own tokens on the Ethereum "Blockchain", a combination of an incorruptible ledger and mini-wallet addresses that can host both tokens and code.

Interacting with the Ethereum Blockchain (such as moving tokens or using Smart Contracts) requires you to pay ETHER (ETH), the Blockchain's native currency. Most people buy it on exchanges, from cryptocurrency apps or card issuers like Revolut or Wirex, or through third-party providers on apps or websites like MoonPay, which AQRU uses.

At the time of writing, one ETH is worth around $3,000, but you don't have to own all of it: like almost everything in cryptocurrency, you can own or trade a fraction of the stuff. Except for NFTs (individual, disposable tokens that represent a specific thing - you can't split them).

But you don't always have to buy ETH: you can also earn it: how would you like free Ethereum?

Faucets

It's not often in life that you get something for free without having to put in something, but Crypto Faucets are close.

The basic ones will give you a small amount of free cryptocurrency at the push of a button. Stay calm though, these are small amounts.

Of course, faucets have to make money somewhere, and they make it by attracting users to play games, watch ads, watch videos, complete surveys, or perform other tasks to earn tokens. Users are effectively exchanging their time for cryptocurrencies.

While there are faucets that give away ETH for free, transfer fees are currently so high on the Ethereum blockchain that anything you earn is wiped out in one hit of fees.

Everyone is waiting for the ETH 2.0 upgrade to stop this madness, but in the meantime, there are plenty of cryptocurrencies to send and transfer cheaply.

Mining

To “mine” ETH, you download software that runs 24/7 and try to be the first to solve various mathematical puzzles for a chance to verify a new block of transactions for the Blockchain. If you are the first, you will be rewarded in ETH.

We're stretching the definition of "free" here because unless you're paying someone else (like a mining company) to rent computing power to mine ETH, you have to buy expensive equipment to do it (hence the shortage of graphics cards). On top of that, you have to pay for electricity.

Another good reason not to buy it is that Ethereum is undergoing an upgrade that will completely stop mining…

Staking out

… and replace it with “staking”, which is where ETH holders who have spare processing capacity (called “validators”) lock some of their coins in the blockchain to get ETH. Since the ETH 2.0 blockchain exists, you can already bet.

But, to be a standalone "validator" you need to stake 32 ETH (about $96,000 at the time of writing). This must be a really long-term investment, because ETH 2.0 doesn't have the code for the "indent" yet, and no one knows how long it will take to write that bit!

Exchanges and other companies run "staking pools" that allow you to stake a much smaller amount of ETH (obviously for a much smaller reward). And accessing your rewards is much easier.

The return on Ethereum bets tends to be around 4.5% APY (Annual Percentage Return).

No one really knows how this will change once ETH 2.0 is properly implemented and explodes in popularity.

Buy and hold

Hate to break it to you, but this strategy will not get you free ETH. If you buy 1 ETH, you will still have 1 ETH in 10 years. Of course, its dollar value will vary greatly! But unless you do something extra above the "hold" you won't see your ETH wealth increase over time (if you regularly traded it to and from another currency or cryptocurrency on an exchange, you could end up with more ETH: you could also end up with more stress and less ETH ).

Earning interest on your Ethereum

Of course, to earn "interest" (let's call it "yield"), you need to have a lump sum to begin with. But that's true of all finances.

The easiest way to get free ETH accumulated over time without effort is to open an interest-bearing crypto account: for example with AQRU.io. We offer 1% APY on your ETH: better than staking 4.5% and payable on amounts as small as 100 euros.

How to do it?

First, you sign up for free on the AQRU.io website or the AQRU app (beware of app store copycats!). When you do this, you immediately get $10 to invest in a USD Stablecoin investment account, so you can see the micro fractions of cents/pennies really start to add up. It is very fun to see your wealth grow in real-time. If you gave this to Jeff Bezos, I bet he would never put the phone down!

Second, you will be verified. Nowadays there is no routine to avoid old passport/address proof. You really shouldn't trust companies that don't ask!

Third, you can make a deposit. It can be:

Sending crypto funds from another address (AQRU does not charge deposit fees, although it is likely that the exchange/Blockchain will charge you withdrawal and transfer fees for sending them).

By bank transfer from GBP/EUR.

Buy Crypto with a debit card right in the app through trusted third-party provider MoonPay.

Then you can press the "invest" button and start earning 1% APY on your Ethereum: you can also withdraw to Fiat anytime without fees!

The other advantage of AQRU is that you get this return on the entire amount of your deposit and you don't need to buy any other tokens to get this rate.

Whatever solution you choose for your free time, make sure it's interesting!