Last updated on October 25th, 2017 at 11:54 pm
Although many of us may aspire to have an abundance of bitcoins, the truth of the matter is that it’s easier said than done. Besides converting standard currencies to bitcoins (which in theory isn’t earning them at all), there are many ways to acquire the highly sought after crypotocurrency without a cost. There’s a wide range of available options, with some being better than others. Without further ado, here are the 5 best ways to earn free bitcoins.
Although the actual payout may differ between sites, the premise for bitcoin faucets is the same. The user earns “free bitcoins” for either a small task–such as watching an advertisement or visiting a survey–or even just visiting the website. The payout is typically between 0.000001 to 0.00001 bitcoin. The amounts are often measured in satoshi or bits, but the actual currency is still bitcoin. Many faucet offer the ability for a large prize, such as a whole bitcoin. To avoid abuse of the system, faucets will only allow a user to use the them once during a given amount of time. Most faucets will typically require users to wait anywhere between 15 minutes to an hour until they can use it again. A full list of faucets can be found here. Adblock must be disabled to use the faucets, so keep that mind. Some faucets will directly insert the earned bitcoins into your bitcoin wallet, while others wait until you earn a certain amount. Nevertheless, bitcoin faucets can serve as a way to kill time and to slowly earn tiny amounts of bitcoin. There’s always a chance to win big, so why not! I wouldn’t recommend quitting your day-job to use faucets all day, but at the same time free money is free money (even if it is only a tiny amount).
It may be true that the most profitable days of mining are long gone, but that doesn’t mean mining is a complete waste. Your best bet to make any bitcoins at all through mining would be through a mining pool. For one, this method doesn’t require the crazy overhead costs of high-powered computers and high electricity bills. A full list of mining pools can be found here. Even then, making bitcoins is not easy. It tends to be more of a hobby these days for the majority of miners, as profit is harder and harder to reach. This is due to the increasing difficulty for the computers to actually solve the equations, as well as faster and higher-powered computers competing against them. This is all very oversimplified, as the more in-depth process can be found here. Nevertheless, the option to mine bitcoins is still available for those who wish to do so.
3.) Working for Bitcoins
Although this option may not technically be a way to earn them for “free”, as it may take time and work, it is still an increasingly easier way to earn bitcoins. Along with the growing option for employers to pay their employees in bitcoins, there are countless “odd jobs” that allow a person to earn them. One of the best resources to find those jobs is on reddit’s subreddit /r/Jobs4bitcoins. For those unfamilar with how the page works, users can either offer small jobs, or offer their services. For instance, someone may need help designing a brand logo. They can request someone to design it for them and compensate them with bitcoin. The actual jobs have a wide range of matters, but the concept is the same. The actual details can be worked out between those who make an an agreement, such as the amount and the details of the service. Websites such as WorkForBitcoins are promising, but are often filled with tasks and jobs that lead to spam. Never click a link that seems fishy. You can always encourage your current employer to take bitcoins through services such as Bitpay, which they can in turn pay you with.
4.) Getting tipped
Even though it may not be the easiest thing in the world to consistently receive, getting bitcoin tips has been growing in popularity. Services such as ChangeTip have allowed for a very convenient way to give and receive “tips” on social media. For instance, if I really liked someone’s tweet, I can instantly tip them a certain amount via changetip. All I need to do is mention @changetip in a reply to the tweet with the amount I want to give, and ChangeTip will automatically remove the funds from my account and give them to the other twitter user. It is generally in tiny amounts, with a tip almost always being under a dollar.
5.) Receiving Interest
This option has its ups and downs, but as long as it is done properly and correctly, receiving interest is an easy way to earn free bitcoins for yourself. It is always important to remember that once bitcoins are sent out of you wallet, there is no way to get them back without the person sending them back to you. Therefore, there is a trust and reliability factor when it comes to lending out bitcoins. Peer to Peer lending websites are typically the most reliable and safest way to earn interest on your bitcoins. With that being said, the website must be a reliable one. Make sure to do background searches on any website you may use to lend money. If it seems like a scam or hasn’t been established for too long, it may be best to take your bitcoins elsewhere. The best and most reliable websites are typically BitLendingClub, Bitbond, BtcJam, and a number of others.