Five ways to get free Bitcoins: find your way to earn on the first cryptocurrency!

20 October 2017

While the first cryptocurrency has crossed the $5000 mark, more and more active computer and Internet users start thinking whether it is possible to get Bitcoins free of charge. Taking into account that Bitcoin’s hundredth part costs around $5.65 today, the question is not idle. Meanwhile, there are chances to get digital money without buying. Here are five ways to get free Bitcoins, which can become your initial cryptocurrency capital.

Mining

Many digital currencies are mined by users, i.e. generated using computers that solve cryptographic tasks. Making a profit when mining Bitcoins on a home computer is almost impossible today, as far as it requires too much of computer capacity. However, there are several options:

To invest in purchasing a mining farm (high-capacity hardware developed specifically for mining cryptocurrencies) and join a Bitcoin pool. You will need to have some initial capital for buying a farm.
To participate in cloud mining (type of shared cryptocurrency mining, when you rent productive capacity from an owner). It is also a roughly free method, as non-repayable rent will provide you with small capacity, resulting in minor output.
Mining altcoins. It will cost you the same in terms of buying hardware. Obtained coins can be exchanged for Bitcoins.

Mining Bitcoins with a small home farm is hardly possible. A way out is to join pools or mine altcoins.

Exchanges

Even if you do not mine cryptocurrency, token exchanges are a good way to make money.

Buy high-potential altcoins and sell them when the price goes up, and then invest your earnings in stable and profitable Bitcoin.

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Exchange rate speculation

Bitcoin price is also fluctuating, giving opportunities for making profit. People, earning money in such a way, look forward to substantial drops and buy cryptocurrency at attractive price, and then sell it high-priced. As Bitcoin always wins back positions, you are unlikely to lose everything on such trading. You will need some capital and ability to think analytically for using this method as well as the previous one.

Bitcoin faucets

Faucets are the most reliable but also the most time-consuming way of earning money. You have to sign up for faucet websites (also called Bitcoin faucets) and solve simple tasks, earning Satoshis for that. It requires time and diligence, but you get coins to your cryptocurrency wallet without making any investments.

Faucets are a nice way to get cryptocurrency if you have much free time.

Gambling

Many gaming resources, such as online casinos or multiplayer games platforms, pay winnings in cryptocurrency. So if you are lucky or good at online games, try yourself. However, you will need some initial capital here to place a bet or pay a registration fee for participation in the tournament.

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As you have already understood, all five ways to get free Bitcoins are not charge-free in fact: each of them requires investing money, time, or analytical thinking (or all those things together). Nevertheless, taking into account the growing Bitcoin price, all these investments can bring rather high dividends.

E-sports offers many opportunities to earn cryptocurrency. You can participate in championships or place bets at online casinos or virtual betting houses.

Find out more at Blockchain & Bitcoin Conference Cyprus!