8 Legitimate Ways to Earn Free Bitcoin in Canada

Updated: Sep 20, 2022  |  Published: Jun 29, 2021

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If you’re looking for free Bitcoin, you’re in the right place. I researched and vetted legitimate ways to earn free Bitcoin in Canada and rounded them up into this list. From performing micro tasks and claiming airdrops to learn and earn programs and referral codes, there are many ways to earn free rewards.

While these won't generate life-changing income, you can still earn $30-$150/month by combining some of these offers. Let's jump in, and remember, always do your own research before trying any of these products.


1. Do Simple Tasks

Shakepay ShakingSats

Earnings: $1-$20/month

Shakepay ShakingSats Program

Shakepay, one of Canada's most popular crypto exchanges, lets you shake your phone every day to get free Bitcoin automatically deposited into your account. The daily reward starts at only 100 Satoshi's but goes up to 1000 Sats per day as you build your streak.

It's a free, no-effort way to earn up to 30,000 Satoshi's per month which equals $1-$20/month depending on Bitcoin's price. Just don't break your streak or it resets at zero! To be eligible, you must sign up with a referral link or refer a friend to Shakepay.

Coinbase Learn & Earn

Earnings: $2-$50 total

Coinbase Earn Example

I made $10 learning about Stellar Lumens (XLM)

The Coinbase Learn & Earn program pays you for watching short crypto videos and then answering a few questions. When you're done, the token is automatically credited to your account, which means you can keep it, trade it for Bitcoin or cash it out.

The number of videos you can watch is limited, but you can earn up to $50 in one sitting while learning about different crypto projects. To get started, sign up with Coinbase and find the "Earn Rewards" tab. Check out more learn and earn programs in this post.

CoinMarketCap Earn

Earnings: $20 per quiz (Varies)

CoinMarketCap Earn

Similar to Coinbase, CoinMarketCap Earn pays you to learn about cryptocurrency projects. How does it work? Just watch videos, complete a quiz, and get paid. To claim your rewards, you must have a verified Binance account.

Claim Sign-Up Bonuses 

Earnings: $280 for these products

Company

Description

Offer

Canadian crypto exchange

$30 free when you deposit $100

Canadian crypto exchange

$30 free when you trade $100

Canadian crypto exchange

$40 free when you deposit $250

Global crypto exchange

Up to $50 free for doing various tasks

Stock and crypto brokerage

$25 free when you trade $100

Offers updated: May 11, 2022

If you enjoy trying new products, you can sign up for apps that offer sign-up bonuses, like those in the table above. There are countless well-funded and reputable companies that offer these incentives to try their products. All you have to do is go claim it which takes 10 minutes or less!

Send Referral Links to Friends

Earnings: $5-$50 per person

Similar to the point above, most companies will pay you for inviting friends to their platform. If there’s a crypto platform that you love to use, chances are they have a referral program. The bonuses usually range from $5-$50. It's also entirely free, and both of you get rewarded most of the time.


2. Get Cash Back Rewards

Bitcoin & Crypto Visa Cards 

Earnings: 1%-5% cash back

Shakepay Visa Card
Netcoins Pay Visa Card
Crypto.com Royal Indigo and Jade Green Card
Wealthsimple Cash Card Visa

Canada has a variety of crypto rewards cards. Some pay you in Bitcoin and some pay you in other cryptocurrencies. With just 15 minutes and set up, you can be adding a little bit of crypto to your portfolio every time you spend. 

Since we spend money anyways (on groceries, goods, services) we might as well maximize it and get paid for it. Rather than getting traditional credit card reward points, you can start accumulating assets that have the potential to appreciate in value.

We found 9 crypto credit cards eligible in Canada that we are tracking. You can compare all of them below:

Name

Cash Back Rate

Cash Back Form

Annual Fee

Payout Frequency

Website

1%

BTC

Free

24-48hrs

50 Sats

BTC

Free

Once a month

Netcoins Pay Visa Card

Netcoins Pay(#1 overall)

1%

BTC

Free

Once a month

5%

CRO

Stake $500k for 6mos

36 hours

3%

CRO

Stake $50k for 6mos

36 hours

2%

CRO

Stake $5k for 6mos

36 hours

1%

CRO

Stake $500 for 6mos

36 hours

0%

CRO

Free

36 hours

1%

Crypto, stocks or cash

Free

7-9 days

Coinmiles

Coinmiles

Earnings: 1%-20% cash back at eligible stores

Coinmiles is a free app that lets you earn Bitcoin rewards when shopping at hundreds of stores. When you link your credit or debit card, you will automatically earn Bitcoin at eligible stores. The rewards range from 1% to 20% or more depending on the offer.

This can be combined with your crypto rewards card above to double-dip on your rewards.


3. Put Your Crypto to Work

Kraken

Kraken Staking

Earnings: 0.25%-23% APY

Kraken offers staking and rewards for 15+ cryptocurrencies ranging from 0.25%-23% APY. The Bitcoin APY is only 0.25%.

Founded in 2011, Kraken has a long track record and is considered one of the safest cryptocurrency exchanges in the world. I mention this because obviously, trust is extremely important if you will be holding your assets on a centralized platform. 

BlockFi

BlockFi

Earnings: 0.10%-3% APY on Bitcoin, 0.10-10% APY on Altcoins

⚠️Due to recent news and events, proceed with caution and do your own research. 

BlockFi is a popular finance app that lets you earn compound interest on your crypto paid out monthly. Just deposit your crypto into BlockFi’s interest account and start earning up to 10% APY on day one.

BlockFi is a centralized company and lends out your funds on overcollateralized terms. There are risks involved so make sure to do your research.

Binance Exchange

Binance Earn

Earnings: 0.5%-65% APY

Binance, the largest crypto exchange in the world by trading volume, pays you interest for HODLing Bitcoin, stablecoins, and various altcoins.

Under the “Earn” tab you can choose from dozens of financial products with different yields and risk levels. These products range from saving, staking, becoming a liquidity provider, and much more.

*Binance is not available in Ontario.

KuCoin

KuCoin Lend

Earnings: Varies (around 5% APY)

KuCoin Lending and Borrowing

KuCoin, a popular Binance alternative, lets you lend out altcoins to earn yield. USDT generally has the highest rates which range from 2%-5% at the time of this writing. Rewards have declined over time but payouts are quick since the loans are only 7, 14, or 28 days long.

Unlike Binance, all you need to sign up with KuCoin is an email address. It's the best place to deposit, trade and withdraw crypto anonymously without KYC.

Other Places to Earn Yield

There is no shortage of centralized and decentralized platforms that pay you yield. You can also check out the best staking platforms in Canada. I've also listed some popular opportunities below where you can explore and compare rates. Always do your own research before trying these platforms:


In Summary

Depending on your risk tolerance and what you like, there's a variety of ways to earn free Bitcoin out there. Always do your research and hopefully, you can take advantage of these offers while they last.

Alex Dabek

RankFi.com (Contributor)

Alex is the owner of RankFi.com, where he covers all things Web3 and cryptocurrency. He's been passionate about blockchain technology since 2017 and has reviewed more than 100 crypto exchanges, brokers, and DeFi applications.