Bitcoin has by far been the most sought among cryptocurrencies. If bitcoin was a physical place, all roads would have been redirected to it. If it were a treasure, most people would have embarked on a treasure hunt.
Its demand has raised its price to levels only few can afford to buy one bitcoin. However, there are some ways in which to earn free bitcoin.
In this post, we shall discuss 5 ways to earn free bitcoin in 2019. As a takeaway, we shall look into whether this ways are legit or plain scams.
Strap in and let’s tour the ‘earn free bitcoin’ world.
This is a reward scheme incorporated into websites and a reward is paid when a website user completes some tasks on the site.
Tasks may range from filling out the details of a captcha image or inviting new members into the site. The rewarding system dispenses a fraction of bitcoin in predetermined time intervals.
Since the amount of bitcoin is minute, the system keeps track of the earning of each user and is sent to the user’s bitcoin wallet once a certain amount has been accumulated.
For this to work, a payment processor has to be incorporated in the process and the owner of the faucet has loaded bitcoin. The processor then dispenses the amounts as set.
Although this cannot really be classified as ‘free bitcoin’ it is close to this category since you are paid for solving a complicated mathematical formula and adding a block on the bitcoin blockchain.
Currently, earning free bitcoin through mining requires a bitcoin mining rig and setting one up needs capital. Heavy capital since the equipment involved is specialized and costly.
With big companies like Bitmain majoring on bitcoin mining, individual mining can prove not as profitable. However, if you make to set up a powerful bitcoin mining rig, earning free bitcoin is guaranteed.
Playing games is another way to earn free bitcoin. Here, you have to let your gaming experience be interrupted with advertisements. The more ads you watch, the more free bitcoin you accumulate. As with bitcoin faucets, the amount of free bitcoin earned in a single ad is very small.
Therefore, to make a killing out of this, you have to watch so many ads which translates to spending massive amounts of time in the game. If you have time, good luck.
Some influencers on social media platforms e.g Twitter, reward interactions using free bitcoin although just a small fraction. Altcoins are also an alternative way of rewarding interactions on these platforms.
But with social media, a real deal and a scam are hard to differentiate.
Affiliate programs have become a norm in the business world. With referrals, you explicitly request a company to allow you to market their services on your website or online platform.
When these services are accessed through your link you are paid. Crypto-affiliated companies pay for referrals using cryptocurrencies, especially bitcoin.
Affiliate programs are the surest way to earn free bitcoin legitimately.
As promised, the takeaway…
Are the above 5 ways to earn free bitcoin legit or plain scams?
With the boom in cryptocurrencies, scams are more prevalent than the real deals. However, although many of the websites championing for ways to earn free bitcoin are scams, there are few legit ones.
With bitcoin mining, you are guaranteed to accumulate free bitcoin. However, be ready to feel a pinch on your pocket for this to happen.
Referral programs, especially with reputable companies like Coinbase, are a great way to earn free bitcoin.
The advantage of following this route to bitcoin is that it gives you the first feel of owning cryptocurrency and helps you shake off the initial fear helping you get your feet wet in cryptocurrency.
Bitcoin games and bitcoin faucets offer the free bitcoin in satoshi denominations. Note that a Satoshi is a hundredth of a millionth bitcoin. Most websites running bitcoin faucets allow users to withdraw their bitcoin after they have reached a minimum of 5500 satoshis.
With scams and hacks prowling the cryptocurrency space, it is better to steer clear of sites claiming that they offer free bitcoin.
Even on a closer look, the free bitcoin is not entirely free since you have to complete tasks before the hundredth of a millionth bitcoin walks your way.
Unless you have all the time in the world, or you have a way to hack into the faucets for larger and quicker payments, free bitcoin will only remain a phrase.
However, for those interested in free bitcoin through bitcoin mining, it’s safer than all other methods mentioned above.
With cryptocurrency firms like Coinbase rolling out the ‘Coinbase bundle’ which makes it possible to own a set of cryptos for as low as $25, there is no need of searching for ways to earn free bitcoin. You can afford it.