Can You Get Free Bitcoins?
Earning Free Bitcoins
When you search for free Bitcoins, you are overwhelmed with offers to start earning Bitcoin. Most of these offers suggest visiting websites or playing online games. In fact, a lot of offers are even suggesting that you start Bitcoin mining. After all, everyone will tell you that Bitcoin miners get great payouts. So, don’t worry we’ll cover all the angles.
The first, and one of the most important, thing you should know is Bitcoin caps at 21 million. However, the cap isn’t as bad as it sounds. The creator of the first cryptocurrency set a hard cap on the amount of Bitcoin(BTC) that may ever exist. And, he did this for a few good reasons.
However, you’re not reading this because you want to learn about the cap. You’re here to find out about getting free Bitcoins. You may also want to learn about How Crypto Trading Works once you know who to earn your own Bitcoins.
Although, I will start out with a quick word to the wise and quick lesson on structure. Because, as usual, there are those willing to take advantage and because you should know the breakdown of a Bitcoin.
Some Friendly Bitcoin Advice
Please be careful before you enter into the world of enticing Bitcoin earning suggestions. There’s legal ways that you can earn bitcoin, and not-so-legal ways. In this article I have only discussed the legal ways. And for good reason.
So, rather turning this into a precautionary tale of all the bad actors, we’ll stay focused on the positive. And, a solid, common sense rule to operate under and help you stay away from trouble. If it seems too good to be true, then it likely is too good to be true.
The Monetary Structure of Bitcoin
Bitcoin works like most fiat currencies. That is, there is a primary unit, 1 Bitcoin. And then, Bitcoins are broken into smaller units called Satoshis.
What is a satoshi?
8 places to the right of the decimal is a satoshi. One satoshi is the smallest unit of bitcoin that can be recorded in the blockchain.
What is it worth?
One hundred millionth of a bitcoin (0.00000001 BTC).
How does the satoshi translate to US dollars?
Well, the value of a satoshi changes as the value of a Bitcoin does. As of 1-7-22, one satoshi converts to $0.0004297 USD. This is on a day when a bitcoin is worth $41,506.10. It’s a fraction of a cent and if you have 1,000 satoshi, you would have .4172 cents.
Let’s Start Getting Free Bitcoin
First of all, most places recommend joining pay-for-play type of websites. These are sites where you earn bitcoins for watching videos, visiting websites or playing a game. In fact, you can even take surveys for Bitcoin. And as you might suspect, joining pay-for-play websites isn’t the only way to earn Bitcoins.
Don’t get me wrong, in most cases where you earn or get free Bitcoins, you’ll perform some sort of task. Using a bitcoin faucet is one of the only ways there is to receive truly free Bitcoin. You can read more about this below. You can also use crypto browsers or take Bitcoin classes to get free bitcoins. And, you can read more about these methods below also.
First, let’s talk about mining Bitcoin real quickly. Once upon a time, Bitcoin mining was a reasonable way to earn Bitcoins. Unfortunately, it has become more challenging and you will be competing with mining farms. One of the largest mining farms is in Sichuan. It has three mining data centers and each center operates 2,500 mining machines. Which means, it’s going to be hard to compete with that.
And then you have the negative Nellys saying Bitcoin mining is dead or dying. And, it may seem that the world’s most popular cryptocurrency is close to being exhausted. However, a process called halving will continue until the last Bitcoin is mined. And, the halving schedules predict that the remaining 10 percent of Bitcoin will exist until February 2140.
You can also join cloud mining. All you need is your home computer and you can join a large mining center. However, make sure you do your research. There have been complaints about slow payment. As well as other hassles from cloud mining companies. On top of that, you often have to make a deposit in your account with the company to become involved.
Free Bitcoins From Faucets
A Bitcoin faucet is defined as a reward system from which small amounts of Bitcoin are rewarded. Keep in mind, almost all Bitcoin faucets are profitable. People in the know deem faucets the easiest and most inexpensive way to earn free Bitcoins online.
As a matter of fact, an actively used Bitcoin faucet can make millionaires if fortunate. Perform your due diligence before just using any faucet. But with the right faucet or faucets you can make a solid chunk for free.
Converting Fiat Currency into Free Bitcoins
It might be better to save some fiat currency and convert it into bitcoin. It can be as basic as what some people call the coffee factor. Take your coffee money for a week and use it to buy Bitcoin. Be conservative and figure that you spend $3 a day on coffee at work. Save that $15 a week for a while and then buy Bitcoin.
Think of it like an investment, almost everyone agrees at some point Bitcoin’s value will increase again. So, whatever you buy today at $60 could easily be worth $90 next month, for example. Rather, spending your time earning satoshis, or joining a mining cloud, just buy a fraction of a bitcoin while it’s in the losing value phase. When it recovers, sell it. And when applied correctly, you’ll net yourself a good chunk of free Bitcoin.