Early Bitcoin adopters had the advantage of making fortunes off of cryptocurrency by getting free coins from bitcoin faucets available at the time. Others also got free Bitcoins through Bitcoin mining, which was relatively easy.
While you might not have been fortunate enough to jump in early, there are still several options for stashing up some Bitcoins without having to spend a dime.
In this article, we will take you through some of your options for acquiring free bitcoins.
Bitcoin Faucets
These are reward systems that take the form of an app or website. They give rewards in the form of Satoshis (100 million Bitcoin) to site visitors who either solve a captcha or complete a task determined by the site.
In most cases, these Bitcoin faucets dispense bitcoins of a value corresponding to a dollar or a few cents every few minutes.
While Bitcoin faucets will not make you rich, you can still acquire a significant amount of free Bitcoin over time.
Bitcoin Games
Often filled with ads, some games give small bitcoin as a reward. They work in a similar way to faucets – by rewarding you for keeping playing and viewing advertisements. As a result, advertisers will be incentivized to place ads on these games to attract the desired eyeballs.
This could be a fun way of earning a few BTCs if you enjoy playing the game and do not mind viewing ads. The rewards might end up adding up, especially if you’ve got time to kill.
Affiliate Programs
This is one of the easiest and profitable ways of getting free Bitcoins. In addition, affiliate programs exist in a wide array of industries.
With affiliate programs for free Bitcoin, you need to refer someone to a particular service provider, then both of you will be rewarded with free Bitcoins.
On Coinbase, for instance, if you get someone to sign up through your affiliate link, you are eligible to gain a free $10 reward in Bitcoin.
Here are some of the most popular affiliate programs for earning free Bitcoins:
1. Libertex 100% Bonus
On this trading platform, you are eligible for a minimum of $100 welcome bonus and a maximum bonus of $10 000. The minimum deposit amount to fund your trading account for the first time to qualify for the bonus is $100. You get 100% of this deposit as a welcome bonus.
With this program, you will receive back 10% of all the trading commissions you pay that are converted into real money. With the payments coming in 2% payment chunks, you will need to trade fast enough to receive the exclusive bonus within 90 days.
2. Crypto.com $50 Bonus
You are eligible for a sign-up bonus of up to $50 when you sign up to the Crypto.com Exchange using a referral ID or link. To qualify, you will need to have filled the Know Your Customer (KYC) account verification in the advanced level and staked a minimum of 1,000 CRO (1 BTC = 274093.99 CRO) on the platform.
Only the first stake in CRO is used to determine the amount you receive in sign-up bonus, i.e., $10 for a CRO stake of between 1,000 and 4,599 and $50 for a stake above 5,000 CRO.
You could even make more money by referring others to the Crypto.com Exchange platform via your referral links or codes that promise up to $2,000 in CRO as well as 50% of their trading fees. There are no limits to how many you can refer, and bonuses are near-instant.
You can then convert the CRO coins into BTC at your convenience. Note that you need to be aware of changes in terms, including a requirement to hold your bonus in CRO for some time before converting them.
3. Earn Up To $125 Free On Coinbase
You can earn up to $125 in minutes through the Coinbase Earn Campaign. This campaign allows you to earn the amount in Stellar Lumens, OXT, EOS, and other cryptocurrencies by performing tasks such as watching videos and answering questions. You can then convert these into BTC, bearing in mind the inherent charges.
Start Mining Bitcoin
Mining is verifying transactions on the Bitcoin blockchain by solving complex mathematical equations. In exchange for verifying transactions, miners are rewarded with free Bitcoin for every block mined. If you have the right equipment, this can be a great way to earn free Bitcoins.
It was easy to mine Bitcoin using your home computer back in the day. Today, mining has become highly competitive, with most miners investing in hundreds of dollars worth of computing power.
To stand any chance of winning free Bitcoin from mining, you will need massive computing power. However, considering the cost of mining equipment, as well as the high power consumption of mining operations, it might take a while before you recoup your investment.
Using Crypto Browsers
You can also earn Bitcoin for free by just browsing the web. This is possible by installing crypto browsers, such as the Crypto Tab Browser available on Windows, iOS, and Android. It allows you to browse the web as usual while the in-built mining algorithm mines for bitcoins in the background.
However, the process is slow and will take you a long while to earn a significant amount of Bitcoin. So is it wrong to earn some Satoshis for just surfing the internet?
Wrapping Up
It is indeed possible to earn free Bitcoins using the above methods, even when the actual value is a trickle, as in the case of games. The affiliate program route is arguably the most worthwhile and could earn you hundreds of dollars if you have a following. You, however, need to be aware of hidden costs or other restrictions that apply to your free earnings, including conversion costs that could be a deal-breaker. If you project that the value of Bitcoin could appreciate, then the most accessible route could just be purchasing them as usual.