6 ways of earning free bitcoin
In 2020, the value of bitcoin is quite high and for newbies who have the ambition of investing in bitcoin, the amount of capital needed is really gigantic. The question most newbies to cryptocurrency are asking is if there is any way of getting free bitcoin.
The simple answer to that question is yes, a number of ways and it's maybe easier than most people expect. But, if the question is if you can get rich from those ways? , the answer is maybe but not as easy as the first question.
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There are different ways to earn free bitcoin and each has its own unique features and appeals to different people from all forms of life. Below are probably the most successful methods of earning free Bitcoin:
Gambling and scams
Receiving payment in Bitcoin
Gambling and Scams
In this method, losing money is part and parcel of the process. If you fall for a scam, you will lose money and gambling in the long run usually ends in the loss of money. This is on this list because some of the "Free Bitcoin" offers you see online are generally scams.
If there is a requirement from your part in terms of payments for the offer and there is no clear explanation of what you are getting in return, it is most likely a scam. There are legit options out there that can be utilized for getting a little number of bitcoins for free, so being asked for payment is generally a red flag.
But, Bitcoin gambling websites are just like normal online gambling sites with other types of currency. These sites may not be secure, you might find Ads and possibly malware and these may cause you to lose money. But it is possible to earn free Bitcoin from such sites.
Bitcoin games commonly reward users with very tiny amounts of Bitcoin. These games are also cluttered with Ads.
They function comparable to regular bitcoin faucets. The rewards are there to keep users playing the games and viewing advertisements. The game is used as a tool to reach people by the advertiser.
If viewing ads isn't a problem for you, the games are usually very enjoyable and help you kill a lot of free time. Over time, the small bitcoin rewards will ultimately add up.
Bitcoin faucets are features on a website that regularly oozes bitcoin. It can be that a particular website dispenses a small amount of bitcoin every 5 minutes.
The amount of bitcoin dispensed is an exceptionally tiny amount, generally equal to a few cents to a dollar. This is awarded to a specific user every few minutes.
Faucets are typically created in websites to promote them, the more visitors the faucets hold, it interprets as increased engagement, high revenue from ads, and other profits for the owner of the site.
This is the easiest way of getting free bitcoin that will be substantial in amount. Affiliate programs are available in virtually all industries, even cryptocurrency.
For example, you could refer a friend to a particular business, and then your friend and you are given a discount or a reward. These rewards can be paid in bitcoin.
If you sign up for coinbase using an affiliate link, you will get $10 worth of bitcoin.
A number of years ago, it was possible to get hundreds of Bitcoin by mining on a basic home computer.
Presently, the task is rather more difficult. The Bitcoin mining network is usually full of big players with thousands of premium computing power dedicated to mining bitcoin.
For users to be profitable from bitcoin mining, users need to possess very powerful hardware, contrarily, users will end up spending more money on hardware than they make in bitcoin.
Something to note is that Cloud mining is almost never going to profit users. The reason for this is the breakeven point, that is where you make almost the same amount of money from cloud mining as you invest in it. Users will continue moving backward and will normally not ever reach it.
The reason for this is because bitcoin mining manages to increase over time, particularly as the price of bitcoin increases. This basically means there is a decrease in the amount of bitcoin you can get through cloud mining over time, which further shoves the breaking point back.
Receiving payments in Bitcoin
This technically isn't free, you would have to work for it. But the truth is that you actually work for bitcoins in the other methods on this list, either by playing games or viewing ads.
This can be done in a vast array of ways, users can do any of the following:
Request bitcoin donations for your website through a wallet address or QR code.
Work for a company that pays its employees in bitcoin. For example, working as a freelancer for a cryptocurrency company and you can get paid in bitcoin.
Ask your employer to pay you in bitcoin. If this is your wish, you can ask for a percentage of your wages or salary to be paid in bitcoin.
If the aim of earning free bitcoin is the hope of growing your bitcoin value, then it's probably better to buy it the normal way.
The value of bitcoin might increase by 10, which means if you have earned 10 cents playing a game, then your reward is only going to grow to a dollar.
In recent years, bitcoin has developed into a very good investment tool. But the bigger it gets, the more expensive it has become. Today, one Bitcoin is worth $12,125, which is really high for newbies trying to invest.
The above methods are some creative ways of earning free bitcoin, although these processes are not going to make you rich, they are great for owning your first cents in bitcoin.
After earning your free bitcoin, you should utilize a cryptocurrency exchange service like BitForex, BitForex is one of the top 10 best cryptocurrency exchange services whose sole focus is providing users with safe, competent, and accessible digital currency trading tools and investment vehicles.
The reason to choose BitForex is the result of a robust customer-oriented culture, combined with state-of-the-art financial technology. BitForex is continually adapting to market needs with the introduction of new features, including enhanced trading charts, margin trading, derivatives, among others.
BitForex is a Top 10 cryptocurrency exchange service focused on providing 4+ million users with safe, professional, and convenient digital currency trading tools and investment vehicles.
The strength of BitForex is the result of a robust customer-oriented culture, combined with state-of-the-art financial technology. BitForex is continually adapting to the ever-evolving market needs with the introduction of new features, including enhanced trading charts, margin trading, derivatives, among others.
The BitForex headquarters is currently located in Hong Kong. The company also has offices in South Korea, Singapore, the United States.