Financial experts and large investors remain divided over the future of Bitcoin, the world’s largest crypto-currency. Currently, Bitcoin prices hover around US $9400 each.
Crypto-currency aficionados expect it would cross the US$ 30,000 mark by December 2018 while critics claim Bitcoin is a bubble whose burst is imminent.
Free Bitcoin Profits
Regardless of which school of thought you subscribe, Bitcoin indeed presents great potentials to anyone who wishes to get rich quickly. A time-tested and proven way to get rich with Bitcoin is by speculation.
Meaning, you buy Bitcoin when prices are low and sell when they soar. However, high cost of investing in Bitcoin- around US $9400- makes it beyond reach of most ordinary people. Despite, there are ways and means to earn free Bitcoin, provided you have basic skills, equipment and the time.
Free Bitcoin: Is It Possible?
Do you believe in free money? Free money exist and so free Bitcoin. But getting free Bitcoin is difficult unless someone gifts or bequests them. However, there are proven ways and means of getting Bitcoin sans exerting extra efforts.
You will have to do some work to earn Bitcoin. Such tasks can be anything as simple as making some discreet arrangements for a client, proxy buying or completing online tasks.
However, you need to “earn” the “free” Bitcoin anyways.
However, getting Bitcoin for whatever tasks completed, you can become rich fairly quick, since prices of this cryptocurrency seem to be soaring at the moment. Nobody can predict how long this boom will endure.
Yet, now is the perfect time to get some Bitcoin and cash in on their current high price.
Before you embark on earning free Bitcoin, it is essential to know this largest crypto-currency of the world.
- Bitcoin is a crypto-currency. Means, it does not have any physical existence like paper money. Bitcoin lives on the Internet only.
- Bitcoin is not regulated by any government, bank or monetary authority. It is an independent currency.
- Fiat currencies- or regular paper and metal money- have collaterals kept in form of derivatives, gold and other precious commodities. Means, for every US $100, the Federal Reserve will keep a fixed amount of derivatives as collateral. This lends value to the currency. Countries like India keep gold as collaterals for the Indian Rupee.
- Unlike conventional currency, you cannot keep Bitcoin in purses, wallets or safes. Instead, they have to be maintained in software, online or hardware wallets.
- Buying, selling or trading in Bitcoin offers near total secrecy. This means, no individual or organization or government can trace who holds Bitcoin.
- You can transact Bitcoin anywhere in the world, provided you have a smart-phone or computer connected to the Internet.
- Buying and selling products and services with Bitcoin is now possible. A large number of e-stores, casinos and other goods and service providers accept Bitcoin payments.
- While banks or governments can deny access to your bank accounts, no such restrictions are possible with Bitcoin. This means, you have full access to your money kept in Bitcoin.
- Bitcoin is the only currency in the world that can be divided up to eight decimals. That means, 100,000,000 smaller units called Satoshi. Hence, you need not buy or spend a full Bitcoin. Like conventional currencies, you also get change for Bitcoin.
- Lost Bitcoin cannot be recovered. As mentioned earlier, Bitcoin lives and thrives online only. It can be stored in electronic wallets either online, software wallets installed on computer or smart-phone and hardware wallets that can be bought online. These are protected by complex passwords and access codes. Should you lose these access codes and passwords- you lose all your Bitcoin too. The same holds true for hardware wallets.
- Due to suspected use of this untraceable crypto-currency by terror networks, cybercriminals, drug cartels and human traffickers, among others, Bitcoin has come under scanner of International Police Organization (Interpol), European Union Police (Europol), Federal Bureau of Investigation and other law enforcement and internal security agencies worldwide.
Bitcoin Trade Explained
All transactions with Bitcoin are done over the Internet, through blockchain. Bitcoin official website describes blockchain as: “A shared public ledger on which the entire Bitcoin network relies. All confirmed transactions are included in the block chain. This way, Bitcoin wallets can calculate their spendable balance and new transactions can be verified to be spending Bitcoin that are actually owned by the spender. The integrity and the chronological order of the block chain are enforced with cryptography.”
What You Need for Free Bitcoin
Now that you have some knowledge about Bitcoin and its workings, we explore what you require to get this very precious crypto-currency free.
- A high powered computer, preferably with excellent graphic cards.
- Extremely reliable and fast Internet connection.
- Preferably, a basic training course on trading in Bitcoin.
- Excellent analytical and mathematical skills.
- Willingness to exert extra efforts.
- Membership with any Bitcoin exchange.
- Online, software or hardware Bitcoin wallet.
- Bank account with net-banking or credit/ debit cards.
- Should you have these skills and equipment, here are different proven ways and means to get Bitcoin for free.
Getting Free Bitcoins
Here are some of the best ways to get free Bitcoin.
1. Work as Bitcoin Miner
The surest way to earn Bitcoin free by becoming a miner. Bitcoin miners are a worldwide community that maintains ledger and tracks each transaction. Generally, Bitcoin miners work in ‘pools’ or groups.
This way, more people can pay attention to the blockchain and create ‘blocks’ or records of transactions for onwards flow between the payer and payee. There are some factors you need to know before for free Bitcoin mining.
- Hash Rate: You need a great has rate, or incredibly high computer speeds to solve mathematical calculations that run through the Bitcoin blockchain.
- Bitcoin/ Block Rate: Every time a mathematical calculation is solved and made into a block, the blockchain automatically generates extra Bitcoin. These free Bitcoin are divided among all miners. Currently, the rate is 12.5 Bitcoin per block.
- Mining Pool: You will need to join a mining pool to earn free Bitcoin. The pool charges a fee, which is deducted at a pre-agreed rate from free Bitcoin you earn.
- High Power Posts: Computers used by Bitcoin miners are very high powered. They need to work round the clock. Hence, your electricity consumption can rise exponentially.
- Training: You need sufficient training for understanding the blockchain, identifying and making blocks to earn free Bitcoin. These courses are easily available for reasonable fees nowadays.
2. Free Bitcoin for Proxy Buying
Bitcoin transactions largely remain secret. This means, no authority can detect them, which allows people to evade taxes or stash away large amounts of money secretly for any purpose.
However, total privacy in Bitcoin transactions is a myth of sorts. While buying or selling Bitcoin you need to pay cash. This is done by net-banking, credit and debit cards. Records of such transactions are maintained by a bank or financial institution, though they may not directly refer to the Bitcoin.
Hence, several people want to eliminate this possibility of their investment in Bitcoin being traced. This gives you a great opportunity to earn free Bitcoin. All you need to do is buy Bitcoin as proxy for the real investor and transfer them later to her or his wallet.
To do so, you will need some basic stuff.
- Bank account with that allows foreign transactions through net-banking.
- Credit or debit card with international access.
- Bitcoin wallet.
Buy Bitcoin for the investor using your bank account, credit or debit card. Receive Bitcoin in your software, online or hardware wallet. Transfer them to the investor. You charge Bitcoin for the service.
3. Free Bitcoin for Discreet Work
Arranging female or male escort services, secret getaways for people with discreet relationships and doing other odd jobs that require a very high level of privacy is one sure way to Earn Bitcoin Free.
A huge demand for discreet service providers exists around the world. However, you need to ensure that service provided are not in conflict with any rules and laws of the country where you are providing them.
Here too you will require some basic stuff.
- Online website or Facebook page that states you can offer discreet services.
- Display QR Code of your Bitcoin wallet to receive payments.
- Have a wide network of contacts in your country or abroad that can provide the requested service ensuring total privacy for your client.
4. Free Bitcoin as Tips
- For those working as cabbies, chauffeurs for limousine services, crew at exclusive hotels and resorts and motley other personnel in service industry can accept Bitcoin or Satoshi as tips. At least one website, www.bctips.org allows you to print receipts for tips to get paid in Bitcoin. To receive Bitcoin or Satoshi in tips, you will require.
- Printed receipts with QR code or Barcode that customers can scan on their Bitcoin wallet to transfer money into your crypto-currency wallet.
- These receipts should be linked with your Bitcoin wallet. Preferably, use a smart-phone based Bitcoin wallet to receive tips.
5. 1 Free Bitcoin for Online Tasks
A handful of websites pay you in 1 free Bitcoin for watching and reviewing their videos and advertisements. This is perhaps the simplest way of earning free Bitcoins. You can register at any or all of these websites and begin earning Bitcoin.
Bitfortip: (Bitcoins for answering questions in forums and providing vital tips). Before registering, check payout rules, member reviews and legitimacy of these websites.
6. Free Bitcoin Faucets
Bitcoin faucets can be defined as apps or websites that pay you in Satoshi, the unit of Bitcoin, for various tasks completed online. These generally include filling captcha codes or referring a friend or relative or similar small tasks.
In recent years, there have been lots of scams involving Bitcoin faucets. Before you register to earn free Bitcoin, it is advisable to check credentials of the faucet.
7. Bitcoin for Bank Interest & Stock Dividends
Provided your bank permits, you can request payment of interests and dividends received on stocks held in Bitcoin. However, such payments in Bitcoin will be governed by various existing rules and regulations in your country.
Receiving interest and dividends in Bitcoin has one inherent advantage: It allows you to build a Bitcoin portfolio gradually, without the need to invest large amounts of money.
8. Trading in Bitcoin
This means, you buy goods in one country paying fiat currency or real cash and sell in another in exchange of Bitcoin. Since you are accepting cryptocurrency payment, the sale price can be pegged a bit higher.
This way, you get more profits and save in Bitcoin too. There are a few websites that allow you to buy vouchers for such trade.
Indubitably, Bitcoin appears attractive nowadays due to the high price it commands. However, it is also worthwhile to remember, the cryptocurrency is center of huge debates over various issues ranging from legality to its use in crime.
As mentioned earlier, Bitcoin trade is not fully anonymous. Transactions involving Bitcoin can be traced, albeit difficult. Also, ensure that holding Bitcoin is legal in your country to avoid getting into any trouble with the law.
Also, there are no guarantees anyone can offer about sustainability of Bitcoin. The crypto-currency, like its other counterparts, is completely decentralized and hence, does not have any regulators to check its surge, fall or closure.
Pritam Nagrale, a digital marketer and Generative AI enthusiast, embarked on his journey with affiliate marketing in 2004. With over 14 years of blogging, he has turned his passion into a fortune, profoundly impacting the digital landscape. Through his expertise, Pritam has guided thousands to monetize online and achieve their dreams, establishing himself as a beacon for aspiring digital entrepreneurs.