When you hear the word crypto, the first thing that probably comes to your mind is money. And if you are looking to get into the world of crypto, by default, you’re thinking you’d have to spend money to get crypto and start trading.
While that may have been true when crypto trading first started, times have changed. Fortunately, you can start trading crypto without shelling out a single dime.
This guide will show you how to start trading crypto without investment. All you will need is a bit of time and effort to trade crypto without spending any money. I’ll show you a step-by-step guide on how to do this and I’ll also provide some tips to get the most out of it.
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How is it possible to trade crypto without investment?
When crypto first started, the only way to own cryptocurrencies like Bitcoin or Ethereum was to mine it or buy it. Either option will cost a certain amount of money.
But since crypto has become very popular nowadays, more and more websites offer crypto as a form of compensation for doing something for them. These sites are known as Get-Paid-To (GPT) sites.
The way these sites work is that they offer earning opportunities where you’ll be asked to complete a short task. In return, you’ll receive a reward, which you can then convert to your preferred crypto (usually Bitcoin, Ethereum, LiteCoin, and others).
Just keep in mind that the amount you will receive will be quite small. This kind of crypto earning will not make you rich. If you really want to get rich with crypto trading, you will have to invest money because that will fast-track everything. But that kind of method is also risky.
You really just need to set your expectations properly when you trade crypto without any monetary investment.
The advantage of this method is that if you choose to get the right crypto, your money can potentially grow over time and sometimes very fast.
So, how can you trade crypto without investing money then? For that, I have made a video that explains in detail what you need to do. You can also read the details below the video.
Step 1 – Get free crypto
Now that you know what to expect from this method, let’s discuss the first step.
As explained above, you’ll be able to get free crypto from certain platforms. These platforms are free to join, so all you have to do is sign up and start working on the earning opportunities they offer.
Most of the earning opportunities these platforms offer will ask you to answer surveys, play games, watch videos, sign up for websites and apps, and more. Then, once you’ve earned enough rewards, you can convert your earnings to the crypto you prefer.
If you are interested in earning Bitcoin, I recommend you check out the top sites to earn Bitcoin for free.
If you prefer Ethereum, you can check out the best sites to earn Ethereum instead.
Step 2 – Transfer earnings to crypto wallet
Once you can convert your earnings to crypto, the next step is to withdraw them to your crypto wallet. If you are new to crypto, this can take a bit of getting used to. But once you become familiar with the whole process, withdrawing your crypto earnings will be very easy and fast.
If you don’t have a crypto wallet yet, I would suggest you sign up for one before you even think about earning crypto for free. I would recommend you use Crypto.com if you want an app that is easy to use or the website Binance because it is also a user-friendly crypto wallet, and it has a bunch of great features, including a trading platform so you can trade your crypto without leaving the platform.
To withdraw your crypto earnings from any GPT platform, you just have to log in to your chosen crypto wallet platform and go to the Fiat and Spot section. Then, look for the crypto you want to deposit to your wallet and click Deposit.
Once you click the Deposit link, you’ll be able to get your wallet address. Simply copy it and go to the withdrawal page of your GPT platform, and paste your wallet address. Then, just submit the form to complete the withdrawal.
This will be the same process you will follow regardless of what crypto wallet you decide to use. The important thing to remember is to copy the exact address of your crypto wallet.
Step 3 – Set up an automatic trade
After you’ve successfully withdrawn your crypto earnings to your crypto wallet, the final step you need to do is to set up a trade. As mentioned above, you can trade your crypto on Crypto.com or Binance.
If you, for example, want to use Binance, just log in to your account and click the Trade link in the menu. Then, you have to choose how to trade your crypt. The easiest method is to choose the Binance Convert option if you just want to convert your crypto into another form of crypto.
If you prefer a more advanced trading method, you can click Spot. Then, you have to choose the crypto pairing you prefer. For example, in the photo shown above, you can choose the Bitcoin/USDT pairing.
This means you’ll be able to buy or sell Bitcoin using USDT. After you’ve chosen your pairing, then you have to choose the transaction type.
You can go for the Limit, Market, or Stop-Limit. Each option has its advantages, but for the purpose of this guide, we’ll choose the Limit option because it is the simpler one among the three.
If you choose the Limit option, you can trade your crypto once it hits the target price you are aiming for. This is a very useful option because you can maximize your profits through this automatic trade option.
You can sell crypto when its market value increases, or you can buy crypto when its market value decreases. As you can probably tell, this is how you will be able to earn from crypto trading. You buy crypto when the value is low, and you sell it when the value increases.
You will have to indicate the target price you want to sell or buy. Then you have to set the amount of crypto you want to sell or buy. Once the crypto reaches the target price you’ve specified, Binance will execute the trade automatically.
It is a very convenient method because you don’t have to wait around and check to see if the price of the crypto increases or decreases. This method also guarantees you’ll be trading your crypto at the price you prefer.
Can you cancel a trade order?
Now, what if you change your mind and you don’t want to push through with the trade you’ve set up?
Can you cancel the trade? The answer is YES. As long as the trade hasn’t been completed, it will show up under the open orders list on your Binance account.
All you have to do is click the Orders link at the top of the member dashboard and select Spot Order. Then, as mentioned above, if the trade hasn’t been executed yet, you will see it under the Open Orders list. Just click the Cancel link beside the order you want to cancel.
It’s a very simple process. Just keep in mind that orders can’t be reversed once completed.
Final Thoughts
As you can see, it is definitely possible to start trading crypto without investment. You just need to head in with the proper expectations and be aware that this method will not make you rich. It’s just an option to allow you to trade crypto without investing a single dime and slowly grow your knowledge and earnings from there.
The trading process is relatively straightforward once you get used to it. The only step that will require some time and effort will be the first step, where you will have to do the work to get free crypto.
But once you’ve completed this step, you’ll be on your way to trading any crypto you want. Just make sure to set up your crypto wallet like Binance first before you start earning free crypto.
If you have any comments, questions, or you have any experience on how to start trading crypto without investment, I would love to hear from you in a comment below.
