It’s more and more common for survey sites to offer free bitcoin and other cryptocurrencies for completing surveys. But which ones are the most reliable? Some survey sites will take weeks or even months before you can get your hands on free crypto rewards! On HuginX, we help you weed out the promotional sites and bad apples so that you can focus on the ones with faster payment. Read on to find out how.
Historically, most survey websites offer a combination of PayPal, Amazon vouchers, bank transfers and checks. These reward methods are often slow, and expensive and involve submitting sensitive information such as your bank details or your PayPal ID. More and more survey sites have started to consider crypto as a reward option for their members. Key advantages include:
- Low transaction fees: Cheaper to transfer micro-amounts
- Instant transfers: Instant gratification with fast transfers
- Secure: No need to submit your bank details to get paid
- Data privacy: No need to submit your ID to verify your identity
As cryptocurrency evolves and becomes more stable and accessible for ordinary people, it’s likely that crypto will gradually take over as one of the main reward mechanisms for survey sites.
We can divide crypto-earning sites into two main categories:
- Survey sites offering free bitcoin and other cryptocurrencies
- Survey sites offering proprietary tokens
Survey sites offering free Bitcoin
Several survey sites offer rewards in cryptocurrencies such as Bitcoin, Ethereum, Dogecoin, Litecoin and Ripple. But there’s a catch. The way it works is that you’ll need to first accumulate a minimum amount of virtual points by completing surveys. As an example, you might get 100 points for each survey, but you’ll need 1000 points to redeem your first reward. As long as you’ve accumulated less than 1000 points you get zilch. So in this case you’ll need to complete 10 surveys before you’re finally able to get crypto.
It’s crucial to pay attention to the value of your points and the redemption threshold.
Only when you have enough virtual points can you exchange your points for real cryptocurrencies such as Bitcoin. The actual amount of crypto you’ll earn will depend on the value of the virtual points and the value of the cryptocurrency. Following the example from above, let’s say you’ll earn cryptocurrency worth $10 after accumulating 1000 points. In this case, 1 virtual point = $0.01. 10 USD equals 0.000044 BTC at the time of writing this article.
Getting paid in cryptocurrency is not always the best deal.
Getting paid in cryptocurrency will not always give you the best value compared to getting paid in rewards such as PayPal or prepaid debit cards. Because cryptocurrencies such as Bitcoin fluctuate a lot, the survey companies will usually hedge against changes by offering a low rate. In this case, you might get more Bitcoins by getting paid through PayPal, and then buying Bitcoin separately. Confused? By checking reviews of sites recommended by HuginX you’ll get a sense of how fast you’ll be able to earn crypto in order to maximize your earnings.
Recommended sites to earn free Bitcoins and other Cryptocurrencies:
- Crypto redemption threshold: $0.10
- Micro-tasks: Educational cryptocurrency quizzes
By taking a Coinbase quiz you can learn about different cryptocurrencies and blockchain technology. Users can earn rewards such as free cryptocurrency by completing short quizzes and tutorials on various topics related to digital assets. The quizzes cover various topics, from the basics of Bitcoin and cryptocurrency trading to more advanced concepts like decentralized finance (DeFi) and non-fungible tokens (NFTs).
By completing these quizzes, users can expand their knowledge of the cryptocurrency market and potentially increase their profits. Coinbase Learning Rewards is a fun and engaging way to learn about cryptocurrencies and blockchain technology while earning rewards.
- Bitcoin redemption threshold: $20
- Micro-tasks: Suveys, Focus Groups, Product Testing
Toluna Influencers is a French company operating panel communities all over the world. All the tasks you can earn Bitcoin from are centred around market research, such as surveys and product testing. Each time you fully complete all the questions in a survey, you’ll be awarded “Toluna points” which is their virtual currency. Only when you’ve earned enough points will you be able to get real rewards. The number of points will differ from survey to survey, depending on the complexity and length. Depending on the country you reside in, Toluna members have the opportunity to exchange their points for a Bitcoin Digital Card with a value of $20.
|What can I earn?|
|Who should consider joining?|
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|What company is behind this?|
- Bitcoin redemption threshold: $10
- Micro-tasks: Surveys, games, offers, Facebook-posting
Timebucks is not only focused on market research types of tasks, such as Toluna but offers an impressive range of different opportunities to earn Bitcoin. In addition to answering surveys, you’ll be able to earn Bitcoin from posting on Facebook, playing games, installing apps and completing other microtasks. This is more similar to traditional rewards sites such as Swagbucks. You can also earn additional points through daily bonuses for the top 100 earners as well as referring others to join. On top of your own earnings, you’ll also receive a commission from the tasks done by your referrals.
- Bitcoin redemption threshold: $5
- Micro-tasks: Surveys, games, shopping, watching videos
Cointiply is a rewards site where you can earn Bitcoin, DOGE, LTC or DASH by doing a range of different micro tasks such as answering surveys and signing up for games on desktop and mobile. A positive side of Cointiply is that you also get credits for surveys which you start and don’t qualify for. You can withdraw directly to your Bitcoin wallet when you have at least 50,000 virtual coins, which equals $5. Each point is in other words worth $0.0001. The limit to withdraw to other cryptocurrencies such as DOGE is 30,000 coins.
- Crypto redemption threshold: $0.25
- Micro-tasks: Surveys and various offers such as trials, apps, games, casinos
We like Freecash because of its transparent approach. By visiting their website it’s easy to get a good sense of their offers and terms before deciding to register. The low payment limit also makes it fast to redeem your reward. We also recommend visiting the FAQ section which provides accurate and informative answers to common questions. On the negative side, some of the offers are a bit too optimistic when it comes to promising payout, so don’t just jump on the first and best option. Also, many of their gaming offers take a lot of effort to complete.
|What can I earn?|
|Who should consider joining?|
|How do I get started?|
|What company is behind this?|
- Crypto redemption threshold: $50 redeemed through other rewards
- Micro-tasks: Surveys, offers, clicks, videos
instaGC has an impressive offerwall of survey offers, but getting your rewards redeemed is not always that easy. Frequent complaints about rewards being frozen and account suspensions. This is what instaGC says about redeeming crypto: “Cryptocurrencies (Bitcoin) are an exclusive/private reward option. Each is obtained by redeeming 5,000 points overall in other rewards first.” In other words, it’s going to take a lot of effort to accumulate enough points to finally qualify for crypto rewards.
Survey sites offering free proprietary tokens
Some survey sites also offer rewards in the form of tokens that are specific to their platform, which can be used to redeem rewards or traded on cryptocurrency exchanges.
Proprietary tokens are digital tokens that are created and controlled by a specific company or organization for use within a particular ecosystem. These tokens can only be used within the company’s platform or for specific purposes, such as for making purchases or accessing certain features. Proprietary tokens are not typically designed to be used as a general-purpose currency or traded on external cryptocurrency exchanges, although there may be exceptions. Some survey sites use proprietary tokens as a way to incentivize users to participate in their platform or reward them for certain behaviours or contributions.
In this case, you get a certain amount of tokens each time you take a survey, instead of virtual points. The value of your tokens will fluctuate over time, as the price can go either up or down depending on supply and demand. In order to transfer your tokens into real money, you’ll need to transfer your tokens to a wallet and exchange them into a standard currency such as USD or GBP. An example of a survey site paying in tokens is Instars.
- Redemption: Instars wallet
- Micro-tasks: Surveys, polls, staking rewards, data pools, receipt scanning, learn
The Instars website says the goal is to make data exchange between people and companies fairer by using fancy tech. Basically, they think we give away our opinions and data for peanuts, while the companies rake in the profits. To fix that, they made a platform called Instars where you can directly request and share data with organizations. And the best part is, you have complete control over your data!
Participating in data exchange on Instars can earn you some INSTAR tokens. They used to call it Instar Wallet, but now it’s just Instars. It’s still pretty new, but they’ve been working hard to update and improve the platform. Overall, Instars seems like a promising platform for earning cryptocurrency through data exchange.
Why are not more survey sites offering crypto?
The majority of the largest survey sites have not started rewarding their members with crypto yet. Here are some key reasons why some of the larger market research suppliers operating survey sites are hesitant to adopt crypto:
- Limited adoption: Cryptocurrency adoption is still relatively low compared to traditional payment methods, so some survey sites may not see the value in offering it yet.
- Volatility: Cryptocurrencies are known for their volatility, which can make it difficult for survey sites to accurately price the surveys they offer.
- Technical barriers: Offering cryptocurrency requires a certain level of technical expertise and infrastructure, which not all survey sites may possess.
- Regulatory uncertainty: Cryptocurrency regulations vary widely by country and can be complex, which may deter some survey sites from offering it.
- Not representative: While more people are becoming interested in cryptocurrency, it’s still linked to specific demographics such as young males. This is at odds with market research companies which typically aim to cover a national representative selection of the population in their surveys.
How to claim free cryptocurrency
Here are the general steps to receive crypto payments from survey sites:
- Choose a digital wallet that supports the cryptocurrency offered by the survey site. There are various wallets available, such as Coinbase, Exodus, or MyEtherWallet, and each supports different cryptocurrencies.
- Set up your wallet account by following the instructions provided by the wallet provider. This typically involves creating a password and securely storing your private key.
- Locate your wallet’s public address, which can usually be found by selecting the “Receive” or “Deposit” option within the wallet app.
- Share your public address with the survey site that is offering crypto surveys. This is typically done by copying and pasting the address into the survey app or website.
- Once the survey site has confirmed the transaction, the cryptocurrency will be transferred to your wallet, and the balance will be updated accordingly.
Keep in mind that cryptocurrency transactions are irreversible, and you should be careful when sharing your public address to ensure that you receive the correct amount and type of cryptocurrency.
What are the pros and cons of Crypto Surveys?
Crypto surveys have several pros and cons. On the positive side, you can get paid faster than with traditional banks, and you can avoid some taxes depending on where you live. You also have the potential for bigger gains, instant diversity in your assets, and control over your money. On the negative side, cryptocurrency is volatile, and the value of your pay can drop after you receive it.It can also be hard to use cryptocurrency for daily purchases, and most cryptocurrencies aren’t practical currencies due to their instability.
Here are 8 things to look out for when getting crypto survey rewards:
- Verify the sender’s wallet address: Ensure that the wallet address from which you are receiving the crypto survey rewards is accurate and matches the intended sender.
- Confirm the transaction amount: Check the transaction amount to make sure it matches the agreed-upon amount, and that it is not an error or a fraudulent attempt.
- Consider transaction fees: Some cryptocurrencies may have transaction fees associated with them, so make sure you are aware of any fees and who is responsible for paying them.
- Check for confirmations: Some cryptocurrencies require a certain number of confirmations before a transaction is considered final, so make sure you wait for the required number of confirmations before considering the transaction complete.
- Keep your private key safe: Make sure you keep your private key safe and do not share it with anyone.
- Consider the currency volatility: Cryptocurrencies can be volatile, so consider the potential fluctuations in value when receiving crypto survey rewards.
- Keep records: Keep accurate records of all crypto survey transactions, including the sender’s wallet address, transaction amount, and date and time of the transaction.
- Use trusted sources: Only accept cryptocurrency payments from trusted crypto survey sites, and be wary of any unsolicited or suspicious requests for payment.
What are the pros of getting crypto rewards for taking surveys?
There are several potential benefits of getting paid in crypto when taking surveys, including:
- Decentralization: Crypto operates on a decentralized system, meaning that there is no central authority controlling it. This eliminates the need for intermediaries and enables faster transactions after you’ve done the hard work of taking surveys.
- Security: Cryptocurrencies utilize advanced cryptographic techniques to secure transactions and prevent fraud. In this way, you can get paid without having to provide your bank details to the survey site.
- Global accessibility: Cryptocurrencies can be used anywhere in the world, as long as there is an internet connection. This makes them particularly useful for international survey sites, which can issue rewards in the same currency in every country.
- Anonymity: Transactions made with cryptocurrencies can be anonymous, which provides an extra level of privacy for survey takers.
- Potential for appreciation: Some cryptocurrencies have appreciated significantly in value over time. If the value of the cryptocurrency being received goes up, the recipient could potentially make a profit by holding onto it. This could be really interesting for survey sites offering their own proprietary token.
- Lower transaction fees: Transaction fees for cryptocurrencies are often lower than those for traditional payment methods, which is a great match with survey sites issuing small transaction amounts.
The future: Blockchain technology used in market research
So far we have talked about using cryptocurrency as a reward option. But what about using blockchain technology to store and share data gathered through online surveys? Many believe sharing and handling personal data through blockchain technology has the potential to revolutionize the market research industry by bringing in data privacy, disintermediation, and productivity gains. Smart contracts can be used to hardcode data privacy, ensuring that data collection is compliant with GDPR regulations, and saving data requesters from owning personal data they shouldn’t. This could make blockchain an ideal option for data sharing between market research companies and survey takers.
Blockchain surveys are better for respondents
When taking online surveys today, you’ll often notice that you’re being forwarded from one site to another. So-called respondent marketplaces linking respondents to market research clients through multiple middlemen make it hard to keep track of which company you’re actually trusting your data with. Blockchain surveys on the other hand have the potential to simplify the sharing of data between survey takers and market research clients, making today’s middlemen largely redundant. This would also make it much easier for you as a survey taker to understand how your private data is handled.
Fairer data sharing
Blockchain surveys can lead to industry-level productivity gains and democratization of data access, which also means more of the value created from market research can go back to respondents. This technology is evolving rapidly and becoming more complete and easier to use with each iteration, which will increase the efficiency of the insights industry.
Another benefit of using blockchain surveys is that rewards in the form of tokens can carry lower value than traditional survey rewards. This is because tokens are easy to trade and exchange, and they offer an upside if the network grows. This could make crypto a very attractive reward option for survey takers who would benefit from instant gratification and growth in token value.
The future of blockchain technology used in market research
The adoption of blockchain technology is on the rise among both survey takers and survey sites, suggesting that we’ll see more widespread use in issuing surveys and analysing data. Although the change won’t happen overnight, the technology is evolving fast, and we at HuginX believe that blockchain technology eventually will create a revolution in the market research industry. As blockchain technology continues to evolve, we expect to be at the forefront of this journey guiding our readers to the best sites.