8 Legit Ways to Earn Free Bitcoin (#3 is My Favorite)
With the increasing popularity of bitcoin and other virtual currencies, more and more people are looking to get on the crypto train.
If you’re not ready to buy Bitcoin with fiat currency or if you’re looking for legitimate ways to earn free bitcoin, then this blog post is for you.
Before we dive into the detail, here’s a quick reminder that there’s no such thing as “free bitcoin” . In most cases, they will ask for something in return, whether it’s your time, your money, your knowledge or even your computer’s processing power.
*For those who’re new to Bitcoin, read this article first.
Without further ado, let’s get started.
Here’re the 8 legit ways to earn free bitcoin in the Cryptosphere.
Earn Bitcoin in 8 Legit Ways
1. Earn Bitcoin by Freelancing
This is probably the best and fastest way to earn a decent amount of bitcoins-offering your freelance services in exchange for payments in bitcoin.
Many startups and websites are sprouting rapidly. From developing new applications for blockchain, launching exchange sites to creating ICOs and crypto-wallets. All these companies are actively looking for talents to help build and scale their businesses.
Whether you’re a writer, translator, Youtuber, copywriter, designer, marketer, developer or engineer, the demand for freelancers is on the rise.
Personally, I’ve used AngelList to hire writers to create website content and I paid Bitcoin for their writing services. If you’re looking to work for a crypto startup or maybe secure a long-term employment, then you should at least check out AngelList.
Do note that not all but most of the employers are paying services for Bitcoin. Many of them are Crypto founders so you can contact them directly and discuss the terms further.
Here are some other websites that pay your services for bitcoin:
2. Earn through Bitcoin Faucets
Bitcoin faucet is a reward website or app that pays visitors in the form of a Satoshi, which is a hundredth of a million BTC (1 satoshi = 0.00000001 bitcoin). In exchange for bitcoin, users have to perform numerous easy tasks including completing a captcha or playing online games.
There’re other faucets that give away small amount of alternative cryptocurrencies such as Dogecoin and Litecoin. You can exchange these altcoins into bitcoin using reliable exchange sites like Shapeshift, Binance and Changelly.
Usually, there will be a limit on how often you can claim from each website, some faucets give away coins every 5 minutes. Some pay users on a regular basis, it can be hourly, daily, or even weekly. Otherwise, it’s pretty easy to earn some coins by providing your wallet address.
However, the average payout is extremely low. To reduce the transaction fees, you’ll have to save those satoshis in the faucet site before sending the payout to your bitcoin’s address.
With this in mind, faucet sites might not be a great way to earn the infinitesimally small fractions of a full bitcoin. But you can use those few coins to make a test transaction or two before forking out your own money to buy any coins.
If you’re interested in earning bitcoin through faucets, you can find a list of popular Bitcoin faucets here and here.
3. Doing Microtasks for Bitcoin
One of the easiest ways to earn quick bitcoin is by doing micro tasks.
Most of the tasks are pretty simple and suitable for beginners such as fill out survey forms, watch videos and download apps.
But don’t expect to earn a full-time living from doing small jobs.
Anyway, it’s still a great way to earn tiny fractions of bitcoins during your spare time. Plus it pays more than most faucet websites.
To be frank, I’m not a fan of trading my valuable time for doing menial tasks. But this social network called Earn really intrigued me.
Earn Bitcoin is where I get started with earning free bitcoin online. They’ll pay you for answering surveys, and emails. Almost all the tasks take less than 1 minute to complete. It’s absolutely an easy and hassle-free way to earn bitcoin online.
For each completed jobs, you’ll get a reward of $1 worth of bitcoin instantly!
As far as I know, Earn Bitcoin pays the most compared to other platforms.
It lets you work from your phone or laptop, in any country without the need for a bank account!
I’ve written a comprehensive guide to help you get started with Earn Bitcoin here.
If you’re looking for more quick jobs, check out websites as below.
(I’ve not tried them yet but they’re totally legitimate microtasks websites.)
4. Get Bitcoin Tips
Another genius way to earn free bitcoin is by getting tipped!
Tipping has become more common. If someone like your work or impressed by your service, probably they’re kind enough to give you a tip to show their gratitude.
For example, if you have certain expertise or knowledge in a particular field, you can create a Youtube video, and share your Bitcoin address on the description field. If you own a blog and you write valuable content, simply include your Bitcoin address on your website.
Well, there’s no harm in trying out this method- all you need to do is share your Bitcoin address. You never who you’ll inspire, help or enlighten.
If the idea of creating video and writing content doesn’t appeal to you, you still can earn Bitcoin tips by helping people on BitforTip!
As its name suggests, Bitfortip is a platform that gives you Bitcoin tips for being helpful.
It’s a Q&As website where anyone can ask for anything.
Here you’ll find people asking all sort of interesting questions such as “Where can I find the best food in Shinjuku, Tokyo?”, “Help me find the title of this song” etc
By giving the best answer, you’ll get a bitcoin reward of minimum 0.0001 Bitcoin.
You can download apps on App Store and Google Play and earn bitcoins through your phone!
It’s also available in 11 international languages, including English, German, French, Chinese, and Japanese. No matter where you come from, you can earn free bitcoin with Bitfortip.
5. Bitcoin Peer-to-Peer Lending
If you already have some bitcoins, you can make your money work for you by lending it out and earn some interest.
Bitcoin is a peer-to-peer payment network, which means it can be transferred from a person to another directly over the Internet. As long as you’re holding your bitcoin on your own wallet, you’re actually carrying a bank with you. That’s the beauty of decentralization.
With traditional banking system, it can take weeks if not months to secure a loan if you’re creditworthy.
So for those individuals, startups or small business owners who struggle to get a loan from a bank to fund their businesses or projects, this bitcoin peer-to-peer lending is a great alternative!
At the same time, it also allows investors or borrowers just like you and me, to earn a higher interest rate of 12%-20% on the loans granted.
Bitbond is one of the most reliable peer-to-peer lending marketplaces that you might want to look into. You can test it out with as little as $5 before jumping into this bitcoin investment. In general, you can expect to get about 13% on your return on investment in the form of bitcoins.
If you think bitcoin lending is what you’re looking for, you should also check out BTCPOP and kiva.
IMPORTANT: Due to the unregulated and irreversible nature of the digital currency and transaction, always do your own due diligence before lending someone your hard earned money.
6. Earn Bitcoin from Trading
If you have some background and experience with trading, then cryptocurrency trading is perfect for you.
The cliché is buy low, sell high. It’s simple but not easy.
This short-term investment requires lots of time and patience.
Before you become a trader, you have to equip yourself with knowledge about the digital currency, understand the underlying market principles and analyze the market behavior.
I also come across Crypto gurus selling courses on teaching people how to make money using pump and dump tactic. By joining their exclusive membership, you get insider tips on what to buy, when to sell and which coins are worth to keep.
Technically speaking, you won’t get free bitcoin at the beginning. But you will some coins every time you sell them.
If you’re interested, here’s a comprehensive guide on how I trade cryptocurrencies on Binance.
Here are few main exchanges where you can start buying and selling digital currencies for profits.
7. Earn Bitcoin for Inviting People
You promote a service or product that you like and when people sign up or make a purchase using your link, you will receive a commission.
If you already run a blog or website, or have a huge following on social media, promoting bitcoin affiliate programs is a great way to make some good passive income!
Here’s how it works:
- You sign up for a bitcoin affiliate program that you’ve personally used or trust and believe in.
- Fill up your profile and provide your Bitcoin address (this is where they’ll send your earnings)
- You will be given a special referral link that will bring visitors directly to their website.
- Share the link with the world! You can add the link on your blog post, website, invite your email contacts, share it on forums, pin it, tweet it. Get creative.
- When someone clicks your link and make a purchase, you’ll earn a commission in bitcoin.
To help you get started, here’s some of the popular websites that offer good-paying affiliate programs:
8. Earn Bitcoin by Mining
It’s getting harder and harder to actually make a profit by mining at your home, and thus I put it in the last on this list.
There’s a time when you can do mining by using your personal computer or using a graphics card (GPU-mining).
But Bitcoin mining nowadays requires you to buy specifically designed equipment, so-called ASIC miner.
At the time of writing, for each block mined you’ll get 12.5bitcoin. In the year 2020, it’ll drop to 6.25 BTC.
When bitcoin was introduced in 2009, one could easily earn 50Bitcoin for each block and just last year, miners get to earn 25BTC /block.
If you don’t know what mining is, I recommend you check out this post.
Considering the high setup cost, monthly electricity bills and low rewards, it could probably take years before you can start seeing the returns.
That being said, most of the miners choose to join cloud mining services like Genesis mining. Instead of running your own mining rigs at home, you’re purchasing a package which guarantees you a fixed return in bitcoin.
However, there’re lots of fraudulent and scam companies on the space of cloud mining. Do your own thorough research before investing any contract for lucrative promises.
Learn How to profit from mining cryptocurrencies in the following article.
Conclusion
There you go! I hope this list of best 8 easy ways of earning bitcoin will help you make your first bitcoin in no time!
What’s your favorite way of earning bitcoin online?
Do you have any experience or effective ways to earn bitcoin that I didn’t mention in this post? Do share with us in the comment below.
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Originally published at thinkmaverick.com on September 24, 2018.
