How to build a crypto portfolio without spending money or time on trading

by · February 24, 2023

Starting to invest in cryptocurrency doesn’t necessarily require connecting to a bank account or using fiat to buy Bitcoin (BTC) and Ether (ETH). Another way to earn cryptocurrency and build a portfolio is to complete a variety of tasks on various Web3 platforms.

Using decentralized applications and decentralized finance (DeFi) platforms, users can earn cryptocurrency and then exchange, sell or hold it in centralized or decentralized wallets without even having to spend money.

Let’s look at some ways to build a crypto portfolio without connecting to a bank account.

Interact with Web3 browsers

A person with no knowledge of cryptocurrency may be intimidated by the process of downloading wallets and performing on-chain transactions. An alternative is simply to interact with technology, and currently there are several ways to experiment with different crypto platforms. One is to replace Web2 technology with a Web3 browser.

Google dominates the browser and search engine space, making money from users by selling data to advertisers. The Brave browser is an alternative platform where users earn Basic Attention Token (BAT) and fully own their data while browsing. Users earn from their activity on advertisers’ sites, and Brave does not sponsor search engine posts, giving users a more decentralized search experience.

Currently, Brave shares 70% of its advertising revenue, and some users choose to sell their earned BAT on centralized exchanges or through Web3 wallets such as MetaMask.

Social media content creation and free NFT coins

NFTs continue to grow in popularity and potential crypto investors can use a variety of free software to analyze the wallet addresses of successful NFT investors who have minted high value NFTs and also try to find free NFT mining and whitelisting opportunities.

AI Bird’s imprint overview with notable groups. Source: DegenMint

Colin Helm, CEO of free-to-play metaverse platform Caesarverse, noted the importance of free NFTs in the space:

“If users follow social media and community channels closely, they can always find very generous raffles, get some assets that enhance their gaming experience, and build their crypto portfolio just from playing games they might enjoy.”

Some users who have been working with the free coin system have generated NFTs that eventually reached a floor of 10 ETH.

Related: How to Mobile Cryptocurrency Mining?

Similar to how NFTs require a social media base for advertising, new blockchains and protocols require massive amounts of testing and a user base to ensure sustainable growth at launch.

Some blockchains like Arbitrum do not have a token, but the hint of a possible airdrop tends to attract users to the protocols in the Arbitrum ecosystem.

On September 6, 2022, 1-inch users on Optimism received an airdrop of 300,000 OP for their prelaunch use of the blockchain.

For users without the technical knowledge to use new blockchains, social activity-based airdrops can be an easier way to earn cryptocurrency. With social airdrops, users may be required to follow, like and share certain social media accounts. Users will most likely need to use a decentralized wallet like MetaMask to receive social airdrops.

Bug bounties and beta tests

Many crypto and DeFi projects have set aside tokens for marketing, debugging, beta testing, and content creation tasks. Many crypto investors earn tokens by revising, testing and creating brand designs, marketing materials, music and other content. Lending your skills to crypto projects is a perfect way to get started.

Jenny “DJen” Schorsch, founder of GlamJam, shared her experience on how she built a brand and started crypto with no upfront costs:

“Start by creating value for the community for free first. After you get your community, you start generating profit and assets with them. I started using NFTs for ticket sales and allowed Web3 companies to sponsor my favorite projects. Before I knew it, people were offering me crypto for participating in events.”

While most users believe that a bank account and fiat currency are required to interact with blockchains and cryptocurrency, this is not the case.

With a little effort, aspiring crypto investors can earn cryptocurrency and NFTs with no upfront cost other than time.