So, you want to get hands on some Bitcoin, but do not want to spend actual money on it. Well, there is good news: You can receive free Bitcoin online.
Yeah, that is true and in this article, I am going to show you 3 killer techniques to do that from the comfort of your own home. If you want to learn some more elaborate ways to earn money with BTC, then you should check our in-depth guide on how to make money with Bitcoin.
Complete tasks and earn Bitcoin
The following platforms will help you gain some BTC by accomplishing their tasks. The procedure is simple, you just complete some tasks and get small amounts of Bitcoin as an exchange.
First, we are going to start with ads4btc. This is a free website, where you can watch commercials and will receive Bitcoin as an exchange of your time. To be fair, you won’t get rich doing that, but it’s a cool thing to get involved into your first Bitcoins.
The payouts for your time aren’t very high on Ads4btc since it doesn’t take a lot of time, or work, to watch commercials online. Although the payouts vary, you normally get 12 Satoshis for 5 seconds of commercials watched. If you convert Bitcoin into US dollar at the time of writing this article, you will get 0.00077303 US Dollar for every 5 seconds watched.
CoinWorker is a website, where you actually have to complete tasks to earn Bitcoins. In his site, you need to do analytical tasks to get your Bitcoins as a payout. The benefits of using CoinWorker to make some extra Bitcoin, are the site’s transparency, the constant news-updates about CoinWorker, that are publicly shown on their website and the amount of Bitcoin you could make from home, by simply answering a few thought-provoking tasks.
The last website I am going to talk about today is BitForTip. This is a very nice website since you have to answer user questions and get a reward for answering. It brings the community together and therefore is a cool way to earn some extra Bitcoins by being helpful. BitForTip works, by users who want to know the answer to specific questions. And whenever somebody posts a question, you get the chance to answer that question thoroughly and get paid by the person, who asked the question. It’s as simple as that.
These are the methods to earn Bitcoin completely for free. The next 2 models will require some initial investments, but if you already do have some spare Bitcoins or an unused computer, you can do these methods for free or at a very low cost.
Get dividend payments on your BTC
If you already have some Bitcoin and are a hodler, which means you will hold onto them for a long time, then why don’t just put your coins to work and earn some extra of them without doing anything?
The first, and very straightforward option to let your Bitcoins work for you is through Bitcoin lending. There are websites, where Bitcoin lenders and borrowers come together. You, as a lender, will lend your coins to somebody else and they will give you the money back, over time, plus interest! A great website I would recommend is BitBond.
BitBond is a great platform to receive a dividend on your investments. First of all, BitBond is located in Berlin, in Germany, and has an official license. BitBond checks each borrower using AI-Technology. This AI checks each person on social media and assigns a risk-score. Each lender can then choose how risky of a person they would like their borrower to be. Loans can range from 6 weeks to 5 years, so it’s both short- and long-term lending.
The average return on investment in your Bitcoins is 13%, which sounds really awesome. But you also have to acknowledge the risk associated with lending your money to a stranger on the internet. What’s important to look out for, is the trustworthiness of the website and the borrower, because you certainly don’t want to risk your hard-earned assets.
A way to reduce the risk when lending on such websites, is to lend a small amount to many different trustworthy borrowers. That’s how you diversify correctly and reduce the risk of getting scammed. This method is a cool option for everybody who already has some Bitcoin and doesn’t plan to sell them in the near future.
The last strategy to earn Bitcoin for “free” is when you have an unused computer. This method is not really free since still have to pay for power to make it work. Wonder what it is?
Mine Bitcoins from your home
Before I am going to show you, how you can actually make money with Bitcoin mining, I would like to give you a brief introduction of what Bitcoin mining is.
Bitcoin mining is the backbone of the Bitcoin cryptocurrency. It runs on many distributed computers all over the world and has 2 main tasks: First, it must validate all the transaction on the Bitcoin network, so that each transaction is valid and can go through correctly. And secondly, Bitcoin mining also creates new Bitcoins, every 10 minutes.
To make Bitcoin mining work, you need a computer (preferably a powerful one) and cheap electricity. If you have a spare computer in your house and the electricity in your area is fairly cheap, then you can just plug your computer into the grid, connect it to the internet, install a mining software (preferably join a mining pool) and you can start mining Bitcoins right away!
Just make sure to check your electricity bill and look out for the electricity cost to not exceed your Bitcoin mining profitability.
This article was written by Adrian Trummer, founder of FlagshipCrypto.