How To Earn Free Bitcoin
You can buy Bitcoin, mine Bitcoin, but did you know you can earn free Bitcoin? Sounds too good to be true? Read on…
Bitcoin is a new type of money. Unlike government money, it can’t be printed at will, and every Bitcoin created costs money to produce, but there is a way to earn free BTC. Or should I say satoshis?
Actually, 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.
Of course you can mine Bitcoin, but that costs a fair bit of cash and knowledge to get set up. In this article we look into 5 ways you can earn free Bitcoin immediately without spending any money.
So, with that said, let’s take a look at 5 ways to earn free Bitcoin.
How Can I Get Free Bitcoin?
Earn Free BTC Playing Games
You can earn free BTC by playing games. Thanks to layer-two technology like the Liquid Network, developers are building games on the Bitcoin protocol. And some games allow players to earn sats 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.
Earn Bitcoin-Back While Shopping
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, 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 BTC.
Once a transaction is complete, the free Bitcoin will be transferred to your Lolli Bitcoin wallet.
You can’t withdraw until you have clocked up a minimum of $15 in BTC. Once you can withdraw, it’s advisable to keep your Bitcoin in a secure hardware wallet.
Once you’re ready to withdraw, it’s as easy as making a Bitcoin transaction from any other wallet.
If you prefer to receive cash, you can have your free Bitcoin converted into USD, and have it sent to your bank account.
Put Your Time and Skills To Use With Carrot
You can earn free Bitcoin with Carrot. Not the vegetable. Imagine that, everyone getting paid for eating carrots. We’d all have amazing eyesight. Could be on to something there!
Anyway, Carrot is a new marketplace that lets anybody anywhere trade their time, talent and ability for some free Bitcoin. If somebody dangles a carrot and you can complete the task, you will earn the BTC.
People or companies can list tasks, many of which you might already do, and whoever takes on the task will earn free Bitcoin.
Can you code and contribute to open source projects? Check out Carrot because there might be jobs posted that you can do.
Of course, not everyone can code, but everyone can complete surveys or do tasks like using or sharing things on social media. It’s really that easy, and you can earn and be paid Bitcoin in seconds.
BTC Inc., owners of Bitcoin Magazine, created Carrot, and the platform is in its early days, but people are on there earning bounties paid out in free Bitcoin. What are you waiting for?
For a full review of Carrot, check out this article…
Get A Bitcoin 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. And the more you save there, the more you will earn.
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. 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 a legitimate company, 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 more Bitcoin you have the more you will earn but you can open an account and earn 6% APY on with minimal Bitcoin.
The interest is paid out in free Bitcoin if you want it to be, or you can accept Ethereum and Litecoin interest payments.
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 USD backing it 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 a passive income.
For a full review of BlockFi, check this article out…
Earn While You Learn With Coinbase Earn
Coinbase Earn is an educational program that will pay you to learn about cryptocurrencies.
Coinbase is one of the most recognized cryptocurrency exchanges in the world, and their mission is to educate everyone on how to use 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. Once you’ve watched it, take an online quiz, and if you pass, 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.
Start Earning Free Bitcoin Now
Bitcoin is proper money. It is the hardest money ever created, even more so than gold. Every single Bitcoin in existence has been worked for. It can’t be printed and there is a limited amount.
Gold is a hard money, but if the value of gold goes up, humans will discover more ways to find more, or even create more. Yes you can make gold, it’s just not cost effective at these prices.
There will only ever be 21 million Bitcoin.
Not everybody can afford to buy Bitcoin, but everybody can put put aside some free time and make some free Bitcoin. And you can even put your free Bitcoin earned into an interest bearing account and earn even more 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 willing to do some tasks, earning free Bitcoin is available to anybody that wants it.
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.