It doesn’t take long after a commodity starts getting popular, that people start inquiring about how to get it, and moreover, how to get it without paying for it. Here, talking about bitcoins, the cryptocurrency that has started a revolution, and has recently hit the $5000 mark, we answer the million dollar question- how to get free bitcoins?
To begin with, we must understand that bitcoins are divisible to eight decimals, making 0.00000001 BTC (Bitcoin) the lowest possible division of the cryptocurrency. The last unit of bitcoin is independently known as satoshi, named after the pseudonym of the creator of the cryptocurrency, Satoshi Nakamoto. Considering that bitcoins are the most expensive if pegged up against other currencies, one cannot expect to gain one whole bitcoin free, in one go.
Now, moving on to the methods that can give you free bitcoins:
- Multilevel Marketing (MLM) schemes or Referral schemes: Certain bitcoin wallets, investment websites, and cloud mining firms offer a referral or MLM program which enables users to earn without investing their own money. Users must create their own account, following which they usually gain access to a referral code or link to use while inducing other people to join the service or firm and prospectively, invest in it. What they are essentially doing is that they are marketing the firms’ business and services to other users in exchange for a certain level of fixed or variable commission, paid in bitcoins. These schemes can be used by investors, and even the people who only want to market it without putting their own money in it, hence enabling a person to receive free bitcoins in the form of commission. There is usually no bar as to how many people can join with a user’s referral link, and is hence, an unending process.
- CAUTION: With cryptocurrency being a highly popular and discreet method of transferring funds, one should be on the lookout for scams, frauds and prospective ransomware by checking the authenticity of the firm before investing time and putting personal reputation to stake before marketing an external entity.
- Bitcoin faucets: As the title suggests, bitcoin faucets are websites which provide free satoshis upon the completion of certain microtasks such as watching a video, taking a survey, or viewing an advertisement, or simply waiting for a certain period of time before a faucet delivers satoshis again. These faucets usually require a quick registration using ones e-mail ID. After doing so, a bitcoin wallet address is provided by the user and once the satoshi count hits the minimum withdrawal limit, it can be withdrawn to the given wallet address. Even though it sounds brilliant, it should be noted that this is an extremely slow process, and it can take months to reach the minimum satoshi withdrawal limit, making it a hugely tiresome process. Also, with the involvement of lots of advertisement and prospective phishing and malware links, users should realize that this may compromise the security of the device being used to access these faucets, and necessary caution should be exercised while clicking links and accessing faucets.
These are the two most popular and viable methods to gain free bitcoins, without actually having to pay for them. It is highly advisable to use a separate e-mail ID when accessing the websites or applications of the aforementioned types. Other methods to gain free bitcoins include freelance work in exchange for bitcoins, bitcoin lotteries and many other opportunities available on the INTERNET.