Are you wondering how to get Bitcoin for free? If so, you’re in luck. There are several ways that you can ‘earn’ or get Bitcoin for free (or at least at a low price). We highlight some of the most common ways below.
- Bitcoin Faucets
This is one of the most common methods to earn Bitcoin. It is also one of the easiest and cheapest options. Bitcoin Faucets were first introduced by Gavin Andersen in 2010. The Bitcoin Core developer developed these websites and applications to reward users. Users were given a small amount of Bitcoin for finishing small tasks, such as completing a CAPTCHA. In return, the websites receive increased traffic and higher ad revenue. These faucets also serve to introduce more people to cryptocurrencies.
Many people have heard of Bitcoin mining. It involves using specialised computers to confirm transactions and add these transactions to the blockchain. It isn’t easy and the equipment can be costly to acquire and manage. However, you can earn quite a good sum when successful.
- Pay to Click (PTC) sites
These are similar to Bitcoin Faucets in that you will be required to carry out a task on a website or application in order to earn Bitcoin. However, they require more time to complete. In fact, the more time you are willing to give, the higher your reward. Tasks include watching video ads or even visiting specific websites.
This is a smart way to earn free Bitcoin. There are many platforms that facilitate lending with cryptocurrencies as a reward. On these platforms, the borrowers give the lenders their cryptocurrencies as collateral for the loan. They receive a fiat currency in exchange, and the borrower gets back their crypto assets once the loan is paid off. However, you earn from the interest rate of the loan. Many people find this form of borrowing attractive as the loans are tax-free.
- Joining affiliate programs
These are the easiest way to get free Bitcoin. It involves acting like a salesperson, whereby you promote the service or product and get Bitcoin as your commission. For instance, you can participate in the CoinSpot referral program to earn some cash by spreading the good word. When someone registers a CoinSpot account using your unique referral code, gets fully verified, and makes their first AUD deposit, you’ll get AUD$10 bonus in Bitcoin. You can read our CoinSpot review to learn more about this referral program.
- Cashing in on hard forks
A hard fork occurs when a cryptocurrency splits in two or when a new digital coin is developed from an existing coin. When this happens, those holding the existing digital currency will be entitled to both the old and the new coin. You simply need to claim the new forked coin.
Are you looking for a way to earn free Bitcoin and crypto? Consider the methods outlined above to earn free crypto.