Have you ever come across the caption, “how to get bitcoins for free?” Well, in today’s cryptocurrency ecosystem where such altcoins as Ethereum (ETH), Bitcoin Cash (BCH), Litecoin (LTC) amongst others are posing to grow at a fast rate as Bitcoin, many people are exploring ways to earn free BTC to have a headstart.
While it is hard to get any crypto for free without doing any work or investing money, in this article, I present a list of options to earn Bitcoin. However, before we discuss that, let us look at the primary way to generate Bitcoin: Mining!
First off, is free bitcoin mining possible?
If we look at the lastest Bitcoin price prediction, then it’s clear that Bitcoin mining is still very profitable. As a potentially scarce asset, Bitcoin (BTC) mining is one of the few ways to secure cryptocurrency. The subject of Bitcoin mining is broad. But is Bitcoin mining free? Is Bitcoin mining without investment possible? Not really and however, in the aspect in which people earn free bitcoin through it, it can be seen as the reward for helping to keep the bitcoin blockchain running.
When a transaction is done, it is registered on the blockchain. These registered transactions are then verified by miners who use advanced and specialized machines to solve mathematical computations. These miners thus earn Bitcoin as a reward for the work they do and they store them on a Bitcoin hardware wallet. Anyways, if you like you can start mining right away but you need computing power.
Getting involved with mining can be very expensive. Beyond the investment in the mining machines, a costly amount of power is also needed. This thus makes it entirely impossible to mine Bitcoin for free. Nonetheless, there are various ways that people can use to mine Bitcoin. These ways are highlighted below, and some save investors the stress of the huge capital, to begin with:
A) Bitcoin cloud mining
Cloud mining is one of the viable options you can choose to mine Bitcoin. You can do this by pooling your own hardware with others or participate financially only. While cloud mining is common, it’s very hard to be profitable, if not impossible. Most people we know, who invested in cloud mining, have in fact lost money.
The losses people face are because of fraudulent cloud service providers that scam people. Losses also arise from the volatile nature of Bitcoin, which can erode all forms of gains in a short time.
Therefore, from our side, we advise prospective cloud miners to be very careful before deciding to embrace this option. Even a contract might look great. Always keep in mind that Bitcoin prices are very volatile. However, with proper planning, one can mitigate losses to stay profitable through cloud mining eventually.
B) Become a Bitcoin Miner
Here you go if you want to become a Bitcoin miner yourself. All you need is mining hardware and a piece of software. Just keep in mind that today, you’ll have professional competitors out there. Years ago, it was very easy to be a Bitcoin miner. Even with your home computer, you were able to get free Bitcoins. These days, it’s much more difficult.
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To make a profit out of your Bitcoin miner you need massive hardware power. The real downside is that miners do require a lot of electricity as mentioned earlier. To be clear, this implies you need a: huge power consumption. Hence, it only makes sense to become a Bitcoin miner if you have access to renewable energy resources or if you live in a country where electrical power is really cheap.
C) Use Bitcoin-Mining-Pools
Bitcoin miners use mining pools to join a group. The stronger the group (more hardware power) the more likely you’ll get rewarded with Bitcoins. Simply, because you can solve a blockchain transaction request faster than the competition.
The Bitcoin-Mining-Pool option is a good way to become a miner these days. But again, you need hardware, software, and a lot of power.
D) Bitcoin Farming Funds
If you’re serious about Bitcoin mining, you can buy regulated private equity funds. Professional investors farming Bitcoins with well-established mining farms. The number of these funds has grown in recent years as the Bitcoin ecosystem continues to witness unique growth.
In all of the options to earn Bitcoin described, proper consultation or personal research to understand the terrain is advocated.
How to get free bitcoins without mining
Having set the pace with Bitcoin mining, now, let us explore the other major options there are for anyone to earn Bitcoins in 2021;
1. Direct Purchases of Bitcoin (best way to get free bitcoin overall)
There is no other better way to secure a reasonable amount of Bitcoin reward than purchasing the cryptocurrency directly. Many people have missed the opportunity to buy Bitcoin when the price was much lower. However, experts believe that buying the asset now still presents a good opportunity for investors. The chances to secure a reasonable Return on Investment (ROI) on acquired BTC today in a few years is high.
The ways to buy digital currency are currently being simplified with advancing innovation today. There are dedicated crypto exchanges through which one can buy BTC or any cryptocurrency at that using debit or credit cards. These exchanges are in their hundreds today and prominent ones include Binance, Coinbase, PrimeXBT, Cex.io, and Etoro, all of which are recommended.
The trading interfaces of these exchanges may be complicated to understand. However, the majority now build mobile apps with the right functionalities of the broader platform. When you open an account with these exchanges, you get a free bitcoin wallet through which the BTC you purchase can be stored.
2. Get Paid in Bitcoin
As the Bitcoin ecosystem is growing today, many businesses and companies are beginning to pay and get paid in Bitcoin to make money. This is one of the ways to also acquire the digital asset, albeit, it is not completely free.
For you to get paid in Bitcoin, you must have a product or service you are selling. Also, you will need a Bitcoin wallet which you can obtain for free from a cryptocurrency exchange. After opening your account, you can locate the Bitcoin wallet and navigate to the “Receive” BTC icon. Usually, a QR code often accompanies this address which can be printed out for your customers to scan and pay you through it.
For convenience, you can place the “Bitcoin Accepted Here” notification as many retailers do, so new customers can be aware you have integrated this payment mode.
3. Earn Free Bitcoin through Affiliate Programs
This is a very easy way to get free crypto and is also worthwhile. Affiliate programs are used on free bitcoin websites, for example by joining courses or simply by signing up through an affiliate link.
Affiliate programs are web-based advertisements. Some call it a referral program. If the service is worth for you to sign up for, then you can do so and enjoy the accompanying benefits. You can advance this method by sharing your affiliate links for people to sign up. This way, you can earn more Bitcoins directly.
If you spend a lot of time online, then you can turn your time into money. Cointiply is a platform to get rewarded with bitcoin, dodge, LTC or Dash, simply by doing the things you love online.
4. Earning Bitcoin through Surfing the Net
An awesome way to get free Bitcoins and it is so simple. Actually, it should have become the first method I’d have recommended for cashback in crypto rewards. But like with most other options, it works similar to Bitcoin faucets. Therefore, the value you’ll receive must add up from many Satoshi to one Bitcoin. But let’s have an inside look at how it works.
Honestly, I’ve just started to use such a service myself. While writing this blog post I earn free bitcoins. Simply by using a new type of internet browser called Cryptobrowser.
All you have to do is to download and install the CryptoTab browser. Available for all devices, from Windows desktops, MacOS and iOS. This is also how to earn bitcoins on Android.
After installation, you can make the Crypto-Browser your default. Use it just like Google Chrome, Safari, or your Internet Explorer.
Crypto-Browsing is fast, convenient and you get free Bitcoin while surfing the internet. Very cool!
Watch the video on how to get free Bitcoins
So how many Bitcoins can I get for free by using the Crypto-Browser? I just installed it myself, about an hour ago. Let’s check and see how much money I’ve earned, just by using the internet.
Within 1 hour I got 0.00000257 Bitcoin (BTC). This is 0,13 USD. For doing nothing? That’s awesome!
5. Play Games and Receive Bitcoins for Free
How to earn bitcoins by playing games? Certain websites invite you to play games. By doing so, you will be rewarded with free Satoshi’s. Similar to faucets, they try to keep you playing. Unfortunately, these game providers are usually advertisers as well.
If you like to watch advertisements and play games, then this option might be something for you. Just make sure you have a lot of time. The very small amount of Satoshi that you will earn might even add up after a while.
6. Use Bitcoin Faucets
Yes, Bitcoins are given away for free through faucets. But what on earth is a Bitcoin faucet? In simple words, a Bitcoin faucet is a feature on websites through which you complete simple tasks in exchange for Bitcoin. A website can drip Bitcoins steadily. They dispense Bitcoins or better say Satoshi. One Satoshi is a one hundred millionth of 1 BTC.
Therefore, what you receive from Bitcoin faucets is an extremely small amount. On top, faucets are usually awards. Mostly done through promotions. Meaning, the website simply wants you to stay or increase engagement.
7. Earning Bitcoin Through Gambling or Scamming
Though it is very bad to point out, a lot of people earn Bitcoin through gambling or fraudulent schemes online. There are gambling-focused websites that accept Bitcoin and payout in the cryptocurrency. Just as the name suggests, whatever games you tend to play via the gambling site can either pay or wreck you. At iMi Blockchain, we do not recommend anything with a good chance of causing you losses.
Everyone must be cautious nowadays as it is easy to lose money in the crypto-ecosystem, especially through Bitcoin scams.
Whenever you see a “Free Bitcoin” offer, just make sure you read behind all lines. If they ask you for payment, there is a high chance that they scam you. However, trailing the path outlined in this post can help forestall such incidences.
8. Earn Bitcoin from Trading
Anyone can earn Bitcoin through trading, that is, the buying and selling of Bitcoin against stablecoins or fiat currencies. These trading activities involve taking advantage of the forces of demand and supply which influences the price of BTC per time. When Bitcoin’s price rises, traders can easily earn Bitcoin, however, the same holds true for when the asset drops in value.
The volatility of Bitcoin makes trading, not the best bitcoin earning option for newbies. It requires a deep understanding of both technical and fundamental factors that influences the market. Beyond this, a good understanding of the exchange’s trading interface is also necessary. Those who have mastered these factors and a working trading strategy often earn a lot of Bitcoin through speculations on price.
9. Earning Bitcoin through Interest Payment
This is an unpopular way to earn Bitcoin a few years ago, however, the ecosystem is growing so fast. Today, anyone can lend out their Bitcoin holdings either to friends, family, or business partners with an agreement to earn a small percentage as interest.
The advent of decentralized finance (DeFi) is also making it easier as there are now dedicated lending platforms that pool funds for lending. With these structured outfits, one can deposit his Bitcoin holdings to be lent out to borrowers while earning interest in return.
10. Earning Bitcoin from Tips
Earning bitcoin from tips is similar to how vendors earn the coin as a means of payment. The QR code from a dedicated trading wallet is required and depending on the business you do, whether physical or online, the code can be displayed for people to tip you if they wish to do so.
How to get bitcoins for free: Our conclusion
Bitcoin is currently ranked as the 9th most valuable asset class in the world according to the rankings provided by CompaniesMarketCap. Based on this, it is a highly sought-after digital asset, and one that may be acquired in various ways. This article explores 10 ways to earn Bitcoin on your wallet address, with some options involving no financial commitment at all.
It is ideal to do thorough research before exploring avenues that promise to give Bitcoin for free. Many may turn out to be a grand scam. If you need a hand to get started, follow us on social media or book a free consultation right now.
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