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 (also check out how to earn free crypto).
From micro tasks and interest accounts to BTC faucets and referral codes, there are many ways to earn free Bitcoin. 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. Shakepay ShakingSats
Earnings: $1-$20/month
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.
Shakepay also launched an interest account that pays you 4% on your CAD balance (paid in BTC). And they have a Bitcoin rewards card with 1%-2% cash back which is covered later in this post.
2. Learn & Earn Programs
Earnings: $2-$50 total
I made $10 learning about Stellar Lumens (XLM)
Learn & Earn programs, like Coinbase and CoinMarketCap, pay you to watch 1-3 minute crypto videos and then answer a quiz. When you're done, you get crypto deposited into your wallet. While you don't get paid in Bitcoin directly, you can immediately trade the tokens you earn for BTC or cash out.
The number of offers available is limited, but you can earn up to $50 in one sitting while learning about different crypto projects. Coinbase is the best one but you can sign up for all of them to get the most rewards. To get started, sign up with Coinbase and click the "Earn Rewards" tab.
3. Sign Up-Bonuses
Earnings: $280+
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 |
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!
4. 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.
5. Bitcoin Reward Cards
Earnings: 1%-3% cash back
Canada has a variety of Bitcoin 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(#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 |
6. Cash Back Apps
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.
7. Interest Accounts
Kraken
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
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 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.
Other Interest Accounts
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:
- NDAX.io Staking (Canadian exchange)
- Crypto.com Earn (centralized exchange)
- Coinbase Staking (centralized exchange)
8. Bitcoin Loans
KuCoin Lend
Earnings: Varies (around 5% APY)
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.
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.
