8 Legitimate Ways to Earn Free Bitcoin in Canada

Updated: Apr 14, 2024

How To Earn Free Bitcoin

From micro tasks and interest accounts to BTC faucets and referral codes, there are many ways to earn free Bitcoin. I researched and vetted legitimate ways to earn free Bitcoin in Canada and rounded them up into this list.

While these won't generate life-changing income, you could earn $30 to $150/month by combining some of these opportunities. 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 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.

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 to Earn Programs

Earnings: $2-$50 total

Coinbase Earn Example

I made $10 learning about Stellar Lumens (XLM)

Learn to Earn programs, like Coinbase 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

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

Shakepay Visa Card
Netcoins Pay Visa Card
Wealthsimple Cash Card Visa

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 8 crypto reward 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

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%

BTC

Free

24-48hrs

1%

Crypto, stocks or cash

Free

7-9 days

6. Cash Back Apps

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.

7. Crypto Staking

Kraken

Kraken

Earnings: 0.25%-23% APY

Kraken offers staking and rewards for 15+ cryptocurrencies ranging from 0.25%-23% APY. Unfortunately, the Bitcoin APY is only 0.25% but we thought to mention it anyways so you know the options you have.

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. 

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:

8. Bitcoin Loans

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.

Final Thoughts

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. Up next you should read the best ways to earn free crypto here.

Author

Alex is the owner of RankFi.com, where he covers all things finance, Web3, and cryptocurrency. He has been investing in Bitcoin and cryptocurrencies since 2017.

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