10+ Ways How To Earn Free Bitcoins
Is it possible to get free Bitcoins? Yes. As a matter of fact, it’s probably easier than you expect. Did you know? when Bitcoin transactions are verified by a miner they "earn" a certain amount of Bitcoin! Ok, let's now discuss some ways you can get free bitcoins online.
Twelve most common activities to get free Bitcoins
- Bitcoin faucets
- Pay to Click (PTC) sites
- Affiliate programs
- Hard forks
- Bitcoin games
- Completing microtasks
- Working for Bitcoin
Disclaimer: Please note, Crypto News Australia does not solicit any of the companies or websites mentioned in this guide. If something sounds too good to be true then it probably is.
1. Earn free Bitcoins from faucets
This is unarguably one of the easiest and cheapest ways to earn free Bitcoins. This method was first introduced by Bitcoin Core developer Gavin Andresen back in 2010. So what are Bitcoin faucets? They are websites or applications that reward users with small amounts of free Bitcoins every few minutes for completing a captcha or a small task.
You may, however, be wondering, why do people offer free Bitcoin faucets? Below are a number of reasons:
- To boost website traffic
- To earn higher ads revenue
- To introduce more people to Bitcoin
That said, where can you find a reputable Bitcoin faucet? Below are the five most popular sites where you can earn free Bitcoins:
- Moon Bitcoin
These websites give a small amount of Satoshi at a time. If you don't know what is Satoshi is, it's a hundredth of a millionth BTC. While this is not a get rich quick sort of setup, you can register on each of these Bitcoin faucet sites and claim more often.
By the way, you'll need a micro wallet to receive your small amount of free Bitcoins once you've completed a task. A micro wallet is similar to the traditional Bitcoin wallet. So how do you get one?
Micro wallets are automatically created when you create an account on the Bitcoin faucet website. It is worth mentioning too that these micro wallets usually have a limit of 5000 to 10000 Satoshi. So, once you accumulate enough BTC, you can transfer them instantly to your Bitcoin wallet.
You can also earn free Bitcoins from PTC sites, a subcategory of Bitcoin faucets. Let's discuss this a little.
2. Earn free Bitcoins from Pay to Click (PTC) sites
PTC is just like Bitcoin faucets, nevertheless, it requires more time from you. The more time you give, the higher the reward. The way this works is that you will need to watch video ads or to visit specific websites. And for each completed task, you'll earn free Bitcoin. You can visit these websites repeatedly to get more rewards.
So if you enjoy watching videos, below are some of the PTC sites to receive free Bitcoins:
The third method of earning free Bitcoins is by joining Bitcoin affiliate programs.
3. Join affiliate programs & earn free Bitcoins
Affiliate programs are one of the easiest ways for you to get your fair share of free Bitcoins. But how does it work? Affiliates are people who promote a good or service for free but receive a commission if they bring customers to purchase a product.
To do this, companies will provide your own unique affiliate links or promo codes to share with your audience, which is usually tied to your account. Once you get a URL, you can simply promote it anywhere you’d like, Facebook, Instagram or even on your own website. When purchases are made by people who click on your affiliate link, you will earn a reward.
But you may be wondering; how much can I earn from affiliate programs? Some companies pay a percentage of revenue for every customer you referred to them, while others have a fixed payment for every customer who buys a product using your promo code.
For example, Independent Reserve has an crypto affiliate program which offers a 50% commission of all brokerage fees (for 90 days) for new customers that sign up using your affiliate link. Here are five popular websites that offer crypto affiliate programs:
- Independent Reserve
What comes to your mind when you hear the phrase Bitcoin mining? Did you know that this is another method used in getting free BTC?
4. Get free Bitcoins by mining
Yes, Bitcoin mining is another way some have taken to earn free Bitcoins. Bitcoin mining is the processing of using specialized computers to confirm all transactions known as blocks, and add them to the blockchain for the public record. In return, miners are rewarded with a certain number of Bitcoins per block.
However, it is important to consider the cost and rewards of mining Bitcoin before considering this option. So how much does Bitcoin mining cost? Admittedly, mining Bitcoin is not as easy as you'd be required to invest both time and money. You'd need to purchase a powerful computer and a very powerful hardware like Antminer.
At the time of writing, a used S9 ASIC Bitcoin Miner goes for $349.75 on Amazon and crypto mining rigs usually have a lot of these devices to make a profit. Otherwise, they will end up spending more on electricity than they earn from Bitcoin. However, to fund their operations, some miners turn to Australian companies for Bitcoin backed loans to fund their operations.
Moreover, the rewards for each block mined have also gotten much lower. Currently, miners are rewarded with 12.5 BTC, whereas in 2018, the reward was 25 BTC. In 2020, miners will be rewarded with 6.25 BTC after the next Bitcoin block reward halving.
If you are a beginner, you may want to learn how to mine Bitcoin by watching the following video:
5. Earn free Bitcoin by lending
Lending is one of the smart ways you can earn free Bitcoins. There are lots of Bitcoin lending platforms that connect borrowers that need BTC with BTC lenders who lend their coins for an interest rate. You can get between 12%-18% return on your investment in Bitcoins.
But how does it work?
More specifically, rather than selling, the borrowers give their cryptocurrencies as collateral to the lender in order to receive fiat currency or stablecoins. Once the loan is paid off, the borrower gets their crypto assets back. Notably, crypto-backed loans are tax-free.
Below are 5 crypto-backed loan companies:
6. Earn free Bitcoins during hard forks
This is an easy way for you can also earn free Bitcoin by cashing in on hard forks. But what is a hard fork? Put simply, it means when a single cryptocurrency splits in two. In order words, a hard fork is a new digital coin that emerges from an existing coin. Every time this happens, every person who held the existing cryptocurrency before the hard fork is entitled to the new coin as well.
The most famous examples of hard forks are the Bitcoin Gold, Bitcoin Cash, Bitcoin Diamond, Ethereum classic, and more. All of these resulted in a decent amount of free crypto. Want to claim the newly forked coin? All you need to do is import your Bitcoin private key into the new coin’s official GUI wallet.
Related: Where can I find my Bitcoin private key?
You can watch the YouTube video below to learn more about how Bitcoin hard forks work:
7. Play games and earn free Bitcoins
Do you enjoy playing games? If yes, then you can earn some free Bitcoins while having fun. Just like the Bitcoin faucets mentioned earlier, BTC games are also known as fun faucets because you are rewarded for playing and viewing smart ads.
Advertisers consider Bitcoin games as a great method to get a massive influx of traffic. In return, they offer gamers a small amount of free Bitcoins as prizes. While some are browser games, others can be downloaded from the App Store or Play Store.
Popular free Bitcoin games include:
- Bit Fun
- Satoshi Quiz
- Bit Kong
- Battle Coin
8. Complete microtasks and get free Bitcoins
This method is also similar to but more advanced than faucet. All you have to do is perform small tasks and you'll get your share of free Bitcoins for the time spent.
For example, websites allow you to earn free Bitcoins when you solve puzzles or watch promo videos. While others reward you with some satoshis when you fill survey forms or play games. Most recently, in some tech websites, you can test applications on phones and tablets in exchange for free Bitcoins.
9. Earn free Bitcoins by trading
You can earn free Bitcoins by trading it. Some people today consider this method as the easiest way for them to earn more Bitcoins. What they do basically is to buy Bitcoin when the price drops to a certain level and sell the coin when the price surges.
Related: Learn how to buy Bitcoin in Australia with a credit card.
Although it is not too difficult to learn, becoming a successful Bitcoin trader is not as easy as some make it seem. It is not a matter of luck or guesswork because Bitcoin and other cryptocurrencies are highly volatile.
Hence, to be a profitable trader, you'll to invest in good trading education. You'll have to spend a substantial amount of time learning how to trade and how to avoid the many risks associated with Bitcoin trading.
You should be able to forecast how the value of the coin will change in the short term or long term. You'll need to learn about the numerous trading strategies that suit your style of trading and that can increase your gains.
This is the key to making a profit while trading Bitcoin otherwise; you won’t earn any free Bitcoins. Nevertheless, no matter how smart you are, you should be ready to lose some money, all successful traders know this. So, what are you waiting for? Signup with any of the best cryptocurrency trading platforms and start earning free Bitcoins today.
This YouTuber explains how to trade Bitcoin for beginners:
10. Get free Bitcoins by gambling
Gambling is an obvious way for people to increase their crypto wealth. However, you need to be careful because you would typically win some and also lose some money.
There are numerous gambling websites where you can legitimately gamble and earn free Bitcoins. But here is how it works. First, you'd get a welcome bonus when you sign up after which you can use this bonus to gamble.
Please note that a trustworthy Bitcoin casino won't request a deposit from you as they are convinced they would get their money back when you lose it all. Thus, being asked to make a payment is a distinct red flag that you should avoid.
Below are 5 Bitcoin casinos where you can get free BTC:
- Bitcoin Rush
- Fair Proof
- Bit Casino
Remember to always spend only what you can afford to lose.
11. Work for free Bitcoins
As you have seen thus far, there’s no such thing as "free" Bitcoin. In all the methods discussed so far, you have to exchange your time and effort to get Bitcoins. So, there is no easy way around it as you will have to work for it.
So, instead of looking for ways to earn small amounts of Bitcoins, you might also try to figure out something you are really good at, and then get paid in Bitcoin for it.
As an example, the crypto industry is evolving, and more and more news and Bitcoin-related websites or other types of Bitcoin businesses are popping up. As a result, there is a need for crypto journalists or article writers to publish dozens of articles each week.
So, if you are a skilled writer, you can find jobs that pay directly to Bitcoin. There are reputable and reliable companies out there that are willing to pay you in Bitcoin in exchange for your writing services.
Finally, you can get free Bitcoins as tips.
12. Earn free Bitcoins as tips
In this day and age, tipping has become a common practice and this is another way you can earn free Bitcoins. You can receive tips when people appreciate the services that you provide. For example, when you write valuable articles, some people would be willing to pay to show their appreciation.
In light of this, earning free Bitcoins by being tipped is quite easy.
For instance, if you don’t want to sell a quirky Reddit bot or a coded application that you've created, you can add your BTC address near the download button. Kind-hearted people could give you a tip. You can do the same if you own a blog and you write interesting articles — add a QR-code with your BTC address on it in the footer.
Add it even if you think nobody will care enough to donate, there’s no harm in trying — you never know.
Now you know the 12 ways to get free Bitcoins. And, as you can see, there is no such thing as free Bitcoins. No matter what method(s) you choose, you need to invest your time and effort to earn some BTC. And I’m sure that if you spend some time on these methods, you can make a decent amount. You may not become a millionaire, but you'll have enough of the crypto cake to share with me.