It’s often said that there’s no such thing as a free lunch. Generally speaking, I’d say that’s sound advice, and it’ll certainly help you avoid many of the scams and ripoffs in the world.
However, when it comes to earning free Bitcoin, there are a few legit ways to do it.
To be clear: you won’t land yourself massive amounts of Bitcoin, or at least not without proportional risk, but there are some risk-free ways to score hundreds of satoshis, which could someday be worth a heck of a lot more than they are today.
Let’s now take a look at some of the ways you can get free Bitcoin now.
Install & Test Apps
Imagine you’re a computer programmer and you’ve spent several months coding a killer app. You’re getting close to releasing it to market, but you’re not 100% sure what people will think of it.
A good idea might be to pay a few thousand people to download and install it, and get some feedback, right? That way, you can tweak, improve, and build on the current version of your app to address some of the initial concerns people have.
As it turns out, there are companies which pay people to download apps and try them, and they pay in Bitcoin. If you’re always fiddling with your smartphone (who isn’t?), and you want to earn free BTC, this is a great option.
Check out sites like CoinBucks.com to get started.
Play Free Bitcoin Lotteries
I’ve only recently realized this, but there are sites out there which hold free Bitcoin lotteries every hour. I was skeptical about this when I first heard about it, but after some investigation, it turns out to be true.
Sites like Freebitco.in allow you to create an account and win free Bitcoin lottery tickets. You do this by winning a free dice games. We’ll talk more about that in the faucet section below.
At these free Bitcoin sites, you win one or two free BTC lotto tickets every time you win the dice game. The lotto games take place every hour, with prizes ranging from 0.001 BTC to 1BTC on some sites.
Trade Bitcoin Against Altcoins
This method will require you to actually have some Bitcoin, to begin with, but it’s a great way to earn free Bitcoins without too much work.
There are lots of alternative cryptocurrencies known as altcoins. Examples of these are XRP, Litecoin, and Tron. You can trade your BTC for these altcoins, and when they increase in value, you can trade them back for more Bitcoin.
All well and good, you say, but how can you know which ones will increase? I’m going to let you in on a dirty little secret I’ve learned in my several years of cryptocurrency trading – most alts pump when rumours of partnerships begin circulating and when developers hint at announcements. They almost never live up to expectations, and the coins dump soon after, but that doesn’t matter to you, since the strategy here is to sell several days before the announcement, right when the alt is at its peak.
My advice is to pick 5 or 6 low-cap altcoins and follow them on Twitter. You could also keep an eye on their Reddit pages. Trust me, no matter how many times altcoin announcements fail to live up to expectations, they always pump. People are just too afraid to miss out on potential price action. This phenomena even has a name in crypto trading. It’s called FOMO, which means Fear Of Missing Out. Capitalize on it to earn free Bitcoin.
Personal Story Time : This can work the other way, too, where Bitcoin falls, and the alts don’t. For example, I recently traded 1.2 BTC into the cryptocurrency XRP. I knew Bitcoin was in trouble and would likely fall in value, and I knew XRP would hold up well since it’s being used for real-world payments by remittance companies. How did it work out? Well, it’s been around 10 days, and my 1.2 BTC is now 1.9, so I’d say pretty well.
I don’t say this to boast by any means. I’m simply trying to show you how you can earn free Bitcoin instantly, or as close to it as possible. Don’t worry if you don’t have 1 BTC to trade, this would have worked just as well with .01 BTC or less.
Take Advantage of Airdrops
Without getting too technical on those of you who are relatively new to cryptocurrencies, there are constantly new altcoin projects giving away free coins to try and get their projects off to a running start.
For example, lots of blockchain developers build on the Ethereum network and give their coins to anyone holding Ethereum in their cryptocurrency wallets. Since these coins are built on top of Ethereum, you can then trade in the coins you receive via airdrops for Ethereum, which you can then trade for Bitcoins.
If you’re looking for free Bitcoins fast and with minimal effort, I’d say this is the way to go. You literally don’t have to do anything other than hold these tokens in your cryptocurrency wallets (it doesn’t always work if you keep them on exchanges) and then trade them when the time is right.
To learn more about the latest planned airdrops and how you can take advantage of them, you can check out Airdropaddict.com. If you do stray outside reliable sources like this, always be on your guard against scams. You should never have to send funds or give your private wallet keys to receive free tokens.
Sell Stuff For Bitcoins
Ok, I know selling your earthly possessions for Bitcoin does not equate to free Bitcoins. However, I didn’t say we’d be selling your possessions, did I?
Before you jump to conclusions and think I’m implying you should sell other people’s possessions, I’m definitely not! That would be a crime. Instead, I’ve come up with two ways to sell stuff for Bitcoins. Let me explain.
First, you can create Bitcoins out of thin air. How so? By creating something and selling it on Bitcoin marketplaces. I’ve previously been paid for some writing in Bitcoin, and I have a friend who creates clothes and sells them for Bitcoins online. It’s easy – you take a blank page, or use your creative skills, and voila, digital gold in your wallet.
Second, you can ‘flip’ items for Bitcoin. Lots of people buy items in the real world which they can sell for a markup on Bitcoin auction sites like Bitfy.com. Even if the markup is only a few thousand satoshis, you’ve got to think about what that might be worth in the future if Bitcoin goes on another bull run.
I did make the title of this article how to EARN free Bitcoins for a reason. There’s nothing wrong with a little elbow grease in your pursuit of Gold 2.0. In fact, no matter what method you use here, it costs you time, so you might as well pick this one as any other.
Use Bitcoin Faucets
I’ve written about Bitcoin dice sites elsewhere on this site, and one of the things I mentioned was that many of them have ‘faucets’ which allow you to claim free satoshis for completing tasks.
On these sites, you can earn up to 150 free satoshis at a time for doing things like playing tic-tac-toe, logging in, making a deposit, etc.
Once these satoshis are awarded, you’ll be able to play the Bitcoin dice games to multiply them. For example, I won 150 satoshis, set my game win chance to 5%, and won 2820 satoshis in my luckiest game to date.
Most of these sites do have minimum withdrawal amounts, so you’ll have to actually play the dice games and rely on lady luck to some degree. That said, free Bitcoin faucets are a great way to have some fun, try your luck, and potentially walk away with some free BTC into the bargain.
Heck, if your appetite for risk is big enough, you could even double up a few times and walk away with a lot more than you bargained for.
Methods of Earning Free Bitcoins I Don’t Recommend
The human mind is an amazingly creative thing, and it seems like when getting free money is concerned, people will come up with just about anything. Sadly, in the height of euphoria that comes with making money, they’ll also fall for just about anything.
Over my several years in the cryptocurrency space, I’ve come across several highly dubious, sometimes hilarious, and often tragic attempts at getting free Bitcoin.
Here are a few of the methods I don’t recommend:
- In early 2018, several Russian nuclear scientists were arrested after it was discovered they were running Bitcoin mining gear on one of Russia’s top supercomputers. Let this be a lesson – you should always ask permission from the person who pays the electric/bandwidth bills before mining Bitcoin.
- During Bitcoin mania in late 2017, an IT specialist tried to enter a toxic landfill to recover his old computer with $127 million of Bitcoin on it. Authorities prevented him as they claimed it was hazardous to his health. I suggest you don’t go around digging through dangerous landfills or dumps looking for old devices with Bitcoins on them. Health is wealth.
- In 2018, a much-hyped cryptocurrency called Bitconnect collapsed. Some people lost everything in the Bitconnect scam. I suggest thoroughly researching any project you try to trade Bitcoin against and never getting overwhelmed by the hype surrounding some projects. I also suggest knowing when it’s time to trade back into Bitcoin.
I hope you’ve enjoyed learning how to earn free Bitcoin, and how to avoid some of the pitfalls along the way. If you’d like to let your friends and family in on this free money, feel free to share this post on social media.