Bitcoin is a new type of money. A money that isn’t controlled by anybody, and a money that is available to everybody. But is there a way of earning free Bitcoin? Or should that be satoshis?
There’s no such thing as ‘free’ because everything takes time, and time costs, but sure enough, you can earn Bitcoin without having to spend money.
Or you can make an investment, and earn free Bitcoin passively. Passive income is always nice, and if it’s in Bitcoin it is even nicer.
So, with that said, let’s take a look at 5 ways to earn free Bitcoin.
Earn Free Bitcoin Playing Games
You can earn free Bitcoin playing games. Thanks to layer-two technology like the Liquid Network, developers are building games on the Bitcoin protocol now, and there are payments made out to players who earn satoshis for their gaming skills.
Games like first person shooter game Bitcoin Bounty Hunt allow players to battle it out with others for satoshi bounties.
The games are built on the Liquid Network, which facilitates near instant Bitcoin transactions. And the in-game economy, albeit different in each game, is usually generated by advertisements, or won from opposing players.
Like any game: the better you are, the more points you will get, and with games built on the Bitcoin protocol, points make bitcoins, or should I say satoshis?
The games are free to play and your winnings will unlikely make you rich, but it’s a fun way to stack sats and earn free Bitcoin.
And it must be said, whatever amount of Bitcoin you do earn, it’s more than you’ll earn playing other games.
Shop Till You Drop and Earn Free Bitcoin While Doing So
You can shop online and earn free Bitcoin from your purchases through platforms such as Lolli. A bit like cash-back, but Bitcoin-back instead.
Lolli has more than 500 merchant partners, including Best Buy, Bloomingdale’s, Macy’s, Office Depot, Topman, and Walmart.
It’s easy to use and you can sign up in minutes and start earning up to 30% Bitcoin back for your purchases.
Once you sign up with Lolli, you should then download the Lolli chrome extension. Then every time you log into one of Lolli’s merchant partner’s stores, the extension will let you know how to claim your free Bitcoin.
Once a transaction is complete, the free Bitcoin will be transferred to your Lolli Bitcoin wallet, which you can transfer to your own secure hardware wallet once you reach $15 worth of Bitcoin and the merchant’s reward locking period has expired.
Once you’re ready to withdraw, it’s as easy as making a Bitcoin transaction from any other wallet.
If you prefer to have cash-back, you can have your Bitcoin-back converted into USD, and have it sent to your bank account.
Earn Free Bitcoin with Coinbase Earn
Coinbase Earn is an educational program that will pay you to learn about cryptocurrencies.
Coinbase is the most recognized cryptocurrency exchange in the world, and their mission is to educate everyone on how to use cryptocurrencies.
And the best thing is, they will pay you to learn about cryptocurrencies.To earn with Coinbase Earn, you have to sign up for a Coinbase account and learn about certain cryptocurrencies.
There are certain courses for certain cryptocurrencies, and you will be paid out in the cryptocurrency you learn about.
All you have to do is watch an explainer video about the cryptocurrency of your choice, take an online quiz, and if you pass the quiz, you will be paid out in that cryptocurrency.
You can do many different courses on several different cryptocurrencies, and you will be paid out for every quiz that you take with Coinbase Earn.
The cryptocurrencies you learn about are not Bitcoin, but you can keep them cryptocurrencies if you like. Or you can trade them for Bitcoin on the Coinbase exchange.
What could be better than earning for learning?
Earn Free Bitcoin in an Interest Bearing Account
If you want to make a real passive income earning Bitcoin then you should save your Bitcoin in an interest bearing account.
Unlike banks, cryptocurrency borrowing and lending platforms offer excellent rates of interest.
There are several interest bearing accounts, but not all are created equally, or ethically. Beware because there are some scammy sites offering big interest rates.
Some are legitimate, but some are just outright scams.
We at Bitcoin Maximalist like BlockFi, and not just because we are an affiliate, and might earn money if you sign up through our link. We choose our affiliates very carefully, and would never advocate scams.
Although, there is a saying in the Bitcoin community, that if you don’t hold your private keys, they’re not your bitcoins. And technically, that could be true.
To many in the Bitcoin space, Bitcoin is all about self-sovereignty. Keeping your money in your possession. Bitcoin allows you to be your own bank, so why risk allowing third parties to keep hold of your Bitcoin for you?
Well BlockFi pays 6% a year compounded interest in monthly payments. It is as legitimate a company you can get, and is backed by some of the most respected institutional investors. In fact, it’s the only cryptocurrency interest bearing account to have institutional backing.
The interest is paid in Bitcoin if you want it to be, and they also offer Ethereum and Litecoin interest accounts.
BlockFi also offers 8.6% annual interest on anybody saving GUSD in their BlockFi account. Again, this is paid monthly and is paid out in GUSD, or you can have it paid in Bitcoin if you wish.
GUSD is the USD stablecoin from Gemini Exchange. For every GUSD there is a dollar in an account that has been audited. 8.6% is an excellent rate of interest just for saving GUSD, especially in these uncertain times.
BlockFi can afford to pay such high interest rates because it lends out saved currencies to accredited borrowers. It also has much cheaper overheads than banks do, and they’re also not a banks so they’re not out to fleece their customers.
BlockFi is a great way to earn free Bitcoin, and build up your passive income.
Earn Free Bitcoin by Mining Bitcoin
Bitcoin mining is the most obvious way to earn Bitcoin. It might not be free, remember nothing really is, but it’s probably the best way to earn the most Bitcoin.
It takes an initial investment, and isn’t cheap or for the uninitiated. But it’s not as difficult as it may seem.
Anybody can learn to mine Bitcoin, and in doing so, you can ensure you’re securing the Bitcoin Network and earning free Bitcoin for your troubles.
Bitcoin mining is basically the system of verifying transactions, adding them to the latest block, and competing with other miners to find the answer to the cryptographic puzzle, which will grant the winning miner the right to add the latest block to the blockchain and win the Bitcoin block reward.
It’s all done with Bitcoin mining rigs, which are specially designed and very powerful ASICs mining rigs, or GPU mining rigs that are usually assembled by the person mining.
The cost for each mining rig can vary from around $200, all the way up to about $2500 for the latest and most powerful ASICs S19 Pro. This hashes at 110 TH/s and will give you the most earning potential.
If you’re interested in mining Bitcoin, take a look at this article for more information.
Start Earning Free Bitcoin Now
Bitcoin is proper money. Every single Bitcoin in existence has been worked for. It can’t be printed and there is a limit. Bitcoin is sound money, money that is worth having and actually saving.
And the best thing is, you can earn free Bitcoin.
As you’ve read, it’s not hard to earn free Bitcoin. Whether you’re a gamer, a shopper, a saver, a learner, or a miner, earning free Bitcoin is available to anybody that wants it.
So what are you waiting for? Go and start earning free Bitcoin.
Author: Tommy Limpitlaw
How many bitcoins are left?
There can only ever be 21 million bitcoins. At the time of writing, there are 18,422,856 bitcoins in circulation. There are 6.25 bitcoins minted roughly every 10 minutes, so that’s 900 every day. The amount of newly minted bitcoins is cut in half roughly every 4 years, in what is known as the halvening. The halvening will continue to take place until the last fraction of Bitcoin is minted in around the year 2140.
Can I start Bitcoin without money?
Absolutely! Bitcoin is like other investments and currencies. If you have some money to invest, you can make more faster. You can lose more faster, as well if you don’t know what you’re doing. But if you don’t have any money to invest you can earn free bitcoins from playing games, learning about cryptocurrencies, or offering your skills for Bitcoin.
Who is the CEO of Bitcoin?
There is no CEO. There is no central authority that directs or controls Bitcoin. It was created by a pseudonymous programmer Satoshi Nakamoto, but he gave it up to the community, and now all decisions are made by the hundreds of thousands of miners and nodes who work for the Bitcoin network.
Is Bitcoin legal?
As of July 2020, Bitcoin is legal in most countries. The US, UK, Canada, Japan, and all other developed nations it is very much legal. However, the legal status of Bitcoin varies in other jurisdictions.