Buying Bitcoin is an excellent investment, but if you’re like many people, you may not be able to buy quite as much Bitcoin as you’d really like to hold. Fortunately, there are other ways to get Bitcoin. In fact, there are even way to get free Bitcoin. Are you interested in how to get free Bitcoin? If so, keep reading!
Shop Online
One of the fastest ways to answer the “How to Get Free Bitcoin” question is to do some online shopping. If you use your everyday shopping experiences online, you may be able to increase the amount of Bitcoin in your wallet. Cashback services like Lolli allow you get rewards in the form of Bitcoin when you make a purchase. Lolli has 500 merchant partners that include some of the biggest brands in the world today. In fact, nearly 900 companies have a deal with Lolli, and the rewards vary quite a bit. You can expect anywhere between .5 per cent and ten per cent per retailer. Users do have to wait until the return period is over before they get their Bitcoin reward, but it’s a fairly easy process. You just download the browser extension involved, then Lolli will notify you when you land on a retailer with which it has a partnership. Once your Lolli balance reaches a certain amount, you can begin withdrawing the amount. The only fees you ever have to pay or the blockchain transfer fees. You can make additional free Bitcoin on this site if you refer your friends.
The answer to the “How to Get Free Bitcoin” question doesn’t end with Lolli, though. Instead, Pei, a mobile app, also offers shopping rewards in the form of free Bitcoins. It starts when you download the app. Then you have to link some of your accounts – like your credit or debit card accounts – the app. Any time you use one of those linked cards or accounts to shop a merchant who participates with Pei, you get points, which can eventually be converted to Bitcoin. They can then be moved to your wallet for free, but the deal actually gets a bit sweeter. If you enroll in the loyalty program, you can unlock Bitcoin for any purchase you make with the cards you have linked to Pei, which means you could earn maximum Bitcoin just by making your everyday purchases. You can even combine the rewards you earn here with the rewards you earn with Lolli – as some of the partners are the same option.
More Than Shopping
Online shopping apps are the only answer to the “How to Get Free Bitcoin” question. Instead, if you invest it well, you could get interest in the form of Bitcoin. A BlockFi Interest Account, BIA for short, means 8% annual interest on the money you deposit with them. The interest compounds monthly, and the annual yield could be as high as 8.6%. The account is incredibly easy to create, too. It takes just a couple of minutes, and the interest begins building as early as the first day the account is open. Fortunately, there are no minimums required to open the account, and it’s available to Bitcoin owners on a worldwide basis. Think this sounds too good to be true? It’s not. BlockFi is able to pay the interest because it lends Bitcoin to big institutional market players. The loans are over-collateralised to help better protect BlockFi clients, and that spells bit interest payments. That’s especially true because BlockFi interest accounts come before the company’s capital does, so the money is completely protected. Should a reversal occur, BlockFi absorbs the losses well before you do.
Bitcoin Mining is the other way to earn free Bitcoin. If you’re not sure how this works, you may need to back up to a basic understanding of Bitcoin. The technology behind Bitcoin is called the blockchain, and Bitcoin miners get paid to do some work as auditors. The blockchain is essentially a record of all of the transactions that have been made using Bitcoin. Miners verify those previous transactions, which helps to keep all of the users honest. This method can ensure that you can never double-spend your Bitcoins. When a miner verifies 1MB of transactions, that is called a block, and the miner can get a small bit of Bitcoin. The fact that a miner CAN get that Bitcoin, though, doesn’t mean he or she will. To earn Bitcoin, you have to do two things. First, you have to verify those transactions. Second, you have to be the first one to provide the right answer to a certain problem, or proof of work. Don’t worry – many miners don’t have advanced math skills. Instead, they’re the first ones to come up with a 64-digital hexadecimal number (sometimes called a has) that is less than or equal to the target number. It’s really a guess, but the total number of possible guesses usually numbers into the trillions, so it’s a little arduous, but the computer pretty much does it for you. Unfortunately, you need some serious computing power to make that happen. Often a simple desktop won’t do it. Instead, you’ll need powerful equipment. Once the problem is solved, the miner is rewarded, and more Bitcoin is released. Miners these days don’t make as much as they used to. At one point, you could get 50 Bitcoin for a single mining block. Today, though, that number is fairly low, sitting at around 12 Bitcoin. In just a few years, that number will cut in half again, leaving miners with just six Bitcoin per block mined.
Fortunately, it’s getting a bit easier to mine. There are companies like Honeyminer and NiceHash that perform the needed functions if you just download and install their software, but how much Bitcoin you earn depends on lots of things like market conditions and the power of your home machine. Most, though, do offer you a calculator to help you see how much you can make before you actually sign up.
Surveys Abound
Does mining sound like it’s out of your league? You could also take surveys to help earn free Bitcoin. You’ll sign up with a service like Time Bucks, then complete a profile. Once you’re in the system, they’ll begin sending you surveys. The surveys offered depend on the companies currently partnered, and there are other options. You can watch videos, vote, install certain apps, and even perform web searches to earn free Bitcoin. With this particular service, Bitcoin payouts take place once each week, and you can’t withdraw until you hit a certain minimum on your account.
Affiliate Marketing
There is another way to earn free Bitcoin. Affiliate marketing is the way to do that. You’ll need to be sure you have an online following before you get into this one, but what happens is fairly simple. Your followers are directed to do business with certain companies. When they click that link, the merchant or service provider involved gives you free Bitcoin because you turned customers in their way. The commission varies by merchant, and in some cases, a sale is actually required, but if you have a fairly large readership, you could really get some serious Bitcoin for free.
Not An Option?
If none of these work for you, there are other ways to get Bitcoin, though it’s not always free. You can exchange cash for Bitcoin. You can also visit a marketplace that offers Bitcoin in exchange for your services. For example, say you have web development skills. You could bid on a job in one of these marketplaces and offer your web development skills for payment in Bitcoin. In fact, there are many categories of service professionals who have the option to get paid in Bitcoin including coders, writers, and video designers. Even legal assistance can be paid for in Bitcoin in these marketplaces, and it’s a great way to begin growing your side gig and your Bitcoin balance alike. In most cases, you’ll need to set up an account with the marketplace, and your Bitcoin deposit won’t actually be made until you’ve rendered your services. The good news is that many of these spaces offer arbitration and escrowed deposits to help better protect both parties so you can safely offer your services for Bitcoin.
The Bottom Line
Bitcoin is a growing option for many who are interested in cryptocurrency, but it’s not always easy to get the amount of Bitcoin you want. Fortunately, there are safe, legitimate ways to get free Bitcoin if you do a bit of looking around. While it’s rarely a fast process to earn free Bitcoin, it is one worth exploring if you hope to bolster your overall Bitcoin portfolio and begin building an asset you can actually look forward to. Just research every opportunity that comes your way to ensure it is a legitimate chance to get free Bitcoin and not a scam to take the Bitcoin you already have stored away from you.