Did you know it’s possible to earn free Bitcoin?
It’s true. Thousands of companies, brands, and organizations from all over the world are now offering rewards in the form of Bitcoin and other cryptocurrencies.
But before you start to get too excited about free money, let me be clear about two things:
1. Nothing is completely free.
Let me say that again: Nothing is completely free… NOTHING! Everything comes with a cost, in one form or another. I’m going to tell you about a few ways to get Bitcoin without spending money to buy it directly. But there are definitely costs associated here.
The main cost to earning this “free” Bitcoin is your time. You’re going to have to invest quite a bit of your time to earn any significant amount of Bitcoin.
Then there are the advertisements…
In addition to spending a lot of time, you’re also going to have to look at a bunch of advertisements. These will come in the form of both direct advertising on your cell phone or computer and spam to your email address.
2. You’re not going to get rich earning free Bitcoin.
Sorry, but unless you were born into it or win the lottery, there’s no way to become wealthy without working for it or investing.
Earning this free Bitcoin is not going to make you rich. Quite frankly, it’s not even the most profitable use of your time. But if you have some free time — i.e., waiting at the doctor’s office or on a long car ride — and want to earn a few bucks, this is guide is a good place to start.
But please be aware that you’re only going to end up making a tiny fraction of Bitcoin (worth less than a penny) each time you earn free tokens.
Okay, now that’s out of the way, let’s begin…
If you’re brand new to cryptocurrencies, the very first thing you’re going to need to do is set up a Bitcoin wallet. A digital currency wallet is very similar to a bank or trading account. Bitcoin and other cryptocurrencies are stored in a wallet and can be transfer in and out.
Your Bitcoin wallet will be the pairing of 1.) a Bitcoin address and 2.) a corresponding private key. Both are going to be a long string of letters and numbers.
Your Bitcoin address is supposed to be public. This is how others know where to send you Bitcoin. But your private key should never be made public. It’s basically your password.
Here’s what a Bitcoin address is going to looking like: 1N9SFQuHJgwvnjuxQCtcGDFuib8tGxgKoG
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Setting up a Bitcoin wallet is easy and free. And there are hundreds of places online where you can do this.
Among the most popular and user-friendly websites to set up a digital currency wallet is Coinbase. Simply go to the Coinbase website and click on the “Sign Up” button in the top right-hand corner to get started.
Okay, now that you’ve got your wallet set up, here’s how to earn free Bitcoin…
The most common way people are earning free Bitcoin today is through what are called “Bitcoin faucets.”
Bitcoin faucets are websites or phone apps that hand out rewards (in the form of Bitcoin or other cryptocurrencies) for using them. There are countless Bitcoin faucets around today, but they are all different and have different reward systems.
Some Bitcoin faucets reward users for answering surveys. Others reward users for simply watching advertisements or downloading apps. And still others hand out Bitcoin for completing captcha or playing simple games. They are very similar to paid survey sites like Swagbucks.
These faucets usually give out only fractions of a Bitcoin at a time. A typical payout per transaction is less than 0.00001 Bitcoin. At current Bitcoin prices, this is worth about USD$0.09.
So, yeah, you’re not going to get rich anytime soon earning these free Bitcoin. And again, there are definitely better uses of your time. You can probably make more money begging on the street.
As I mentioned, there are countless Bitcoin faucets today. And all of them are different. Three of the most popular Bitcoin faucets today are Bitcoin Aliens, Robot Coin, and Bonus Bitcoin.
Earning free Bitcoin through these faucets is not going to make you wealthy. But free money is free money. If you’re interested in Bitcoin and cryptocurrencies, but turned off by the high prices, these faucets are a decent way to get a free sample.
Until next time,
As an editor at Energy and Capital, Luke’s analysis and market research reaches hundreds of thousands of investors every day. Luke is also the investment director of Angel Publishing’s new Secret Stock Files newsletter, which helps investors leverage the future supply/demand imbalance that he believes could be key to a cyclical upswing in the hard asset markets. For more on Luke, go to his editor’s page.
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