Many crypto exchanges and other platforms are trying to attract new users with various bonuses, and some of them even offer free tokens for signing up. However, it’s not all that simple: there are all kinds of additional conditions and limitations related to such money, and every exchange seems to have its own set of rules. That means you should choose wisely if you want to claim this bonus. In this article, we explain how to find the best offer and give you a couple of exchanges with the best conditions.
How sign-up bonuses work
Sign-up bonuses are one of the main ways to motivate new users to register, verify their identity, and explore additional features used by major exchanges. The main trick here is to convince a newcomer to stay, and you can use this mechanism to receive a handful of valuable tokens just for completing a couple of simple tasks. These tokens will allow you to start trading without investing your own funds, but you should really understand how such bonuses work for every exchange you consider.
One of the most popular crypto exchanges in the world, ByBit allows you to receive $20 for signing up using a referral link and up to $500 for reaching certain trading goals. But these bonuses can multiply if you refer somebody to the exchange: you will receive the same amount for each user who joins via your link, so it can actually be extremely profitable.
Binance also offers free crypto for signing up to the exchange. When you use a referral link to sign up and complete the initial onboarding process with a few simple tasks, the exchange gives you $100 to trade with. While that’s not much, it’s still a useful bonus for traders who want to check out Binance in detail without investing anything.
Currency.com is another well-known crypto exchange that provides a hefty bonus for newcomers. All you need to do is create an account and complete several tasks, and you’ll get $50 in crypto. But it is actually not free: you have to deposit at least $20 first and make a leveraged trade to claim it.
Huobi offers an impressive sign-up bonus of $170 in crypto to every new user. Just create an account and complete a few simple tasks to receive it. There are no additional conditions, and you can use the money for trading right away. You don’t even have to verify your identity to trade.