Is it possible to earn a lot of Bitcoin for free?
Is it possible to earn a lot of Bitcoin for free?
This question originally appeared on Quora, the knowledge sharing network where compelling questions are answered by people with unique insights.
Answers below are by Jose Tormo, Akhil Holden, and AJ.
Jose Tormo, Chief Strategy Officer (2017-present)
Answered Dec 8th,2017
Clearly, anything that has an established value cannot be “earned” for free. You might find bitcoin sitting in a wallet on a computer you bought at Goodwill, but the odds of that happening rank up there with finding a mint 1963 Corvette in a barn with a price tag of $50. It is more probable that lightning will strike you.
That said, you can really earn bitcoin in a number of ways:
You can sign on with a bitcoin faucet Bitcoin faucet – Wikipedia and earn tiny fractions of bitcoins called Satoshi by completing catches, watching advertisements, or some other tasks that generate revenue for the sponsor. These often pay about $1 or less per day, so they certainly don’t qualify as “a lot.” You can join an ICO bounty program. There are hundreds to several thousand people that sign on with many initial token offerings through their bounty programs. Again, these actually involve work – doing translations, moderating a forum channel, using the project’s logo and website on your signature when you post on BitcoinTalk or similar forums, writing blogs and articles, tweeting or retweeting promotion material to your followers, etc. Signature campaigns and Twitter / FB reposts can be somewhat lucrative, since they last for an entire ICO campaign, often 4–6 weeks including a pre-ICO promotion period. Again, it is work: you have to stay attentive to traffic on the forum channel, remove abusive posts, write your own content, or whatever tasks the ICO project might have in mind. If you abandon the task for a few days, the project team often has the right to terminate your participation with no compensation for the work you performed in previous weeks. Total compensation can range from $10 to $5000 or more in a project cryptocurrency, depending on the volume and complexity of the tasks, your experience or reach in the forum communities, and the duration of the project.
You can go to work for a crypto company or offer your services to a crypto project. Many crypto projects are financed from the profits made 3–5 years ago from mining or trading activities. Many companies have emerged to service the exploding number of blockchain projects, including media companies, PR, advertising, logistics, personnel sourcing, etc. Often, we see opportunities to pay contractors or suppliers in bitcoin instead of using fiat currency. Of course, since the value of bitcoin has exploded in the past 6 months, we are doing much less business with bitcoin, but there are plenty of businesses that accept BTC in payment for services, especially those with strong attachments to the blockchain project world. An employee or contractor at a crypto company, you can request payment in BTC instead of fiat or split your paycheck to be paid in both crypto and fiat currencies.
You can mine bitcoin. As others have said, this opportunity has largely been eroded, but you can buy a personal workstation and outfit it with one or more high-end graphics cards and run the mining programs that will give you some BTC income. Many people find it advantageous to sign on with one of the top mining pools, like Antpool or BTC.com, who take a 1–2% fee but spread their bitcoin earnings across all users based on your activity instead of the rare success in solving a hash. Top end mining rigs can cost up to $3–5000, and you need free or very cheap electricity, but people can still make $30-100+ per month, especially if you watch for some alt-token mining opportunities and get lucky.
You can gamble. You should know that like conventional gambling, the house wins in the long run, but there are some short-term gambling winners along with a larger number of gambling losers. A significant fraction of the ICOs from 2016–7 involve online gambling. Some of them might actually be legal where you are located. Or not.
You can get involved in day trading. Like gambling, this is quite risky, but there are winners as well as losers. Unlike conventional stock trading, the commissions charged for trades on crypto exchanges tend to be relatively low, but momentum trading only gets you so far before you find yourself on the wrong side. There are very few crypto projects that actually produce value, so most currencies survive on their hype.
Become an artist and offer your creations priced in BTC or other cryptocurrencies. I’ve met dozens of artists that list prices in USD and BTC. Pricing so your BTC price is more advantageous will probably net you some tokens, especially if you happen to live in a community with people that can afford art and happen to own BTC.
You can launch your own crypto project. You will face a hundred competitors at any given time, all trying to get financed, and about 30–50% are successful in raising funds for their projects right now. There have been some humorous campaigns in the past few months. My favorite was the Useless Ethereum Token that raised almost $140,000 with absolutely no promises to deliver anything. Who knows? You could discover the next pet rock. Or you could come up with a brilliant idea that attracts a dozen brilliant people to make it happen.
Answered December 11th, 2017
The easiest and free way to earn bitcoins online is by using actively a Bitcoin faucet.
I make around 40–60 $ every week for FREE. There are sites like QoinPro who aim to help Cryptocurrency users learn about Blockchain Technology and rewards users in the meantime. So just for having an account, we get like 250 Satoshi, 0.00000250 Bitcoin, and then receive 2 Satoshi per day for having our account! In fact, you earn more coins too:
The best thing about QoinPro is that you don’t have to log in every hour to get free Satoshi. And did I mention that you get a bunch of other coins as well?
You might also want to have a look at FreeBitcoin and FreeDodgeCoin, they pay out hourly coins. FreeBitcoin also has a weekly lottery draw for Free and the top prize is normally more than 2 BitCoins.
Please be patient, this takes some time building up your referral network to make some decent buck unless you are lucky enough to roll a good roll now and then or win the free lottery. Trust me, once you done some initial referral networking, it will be totally worth it.
Answered Dec 8th, 2017
No. There are no free lunches in life unless your parents are rich.
There are websites that promise Bitcoin payout if you play a game or some such but the payout is peanuts.
There are two ways to get Bitcoins for free but they are quite unethical and wrong.
Have a rich friend invest in Bitcoin. Then access his wallet and transfer the Bitcoins to Changelly and let them give you Monero. Monero is private and thus he won’t be able to track who stole his money, even if he files a police report. Then when he tells you about it, ridicule him for not having anti-malware installed. You can always exchange Monero for Bitcoin later.
If you’re a young teenager, it’s not too late to become a stud hacker. Hackers are making millions stealing Bitcoins.
Aj, Writer, Blogger and Investor
Answered Dec 8th, 2017
You can earn a lot of bitcoins for free without investing any money, but you have to invest your time. You can do that by visiting faucet website, by clicking ads and by using your browser for passive mining.
The websites listed below are legit and are the best ones to earn a lot of free bitcoins for free. I considered these the best because the interface is clean with minimum ads and fast response time.
You can claim your free bitcoins by logging into free bitcoin every hour. The interface is simple without any ads. All you have to do is to login and roll the dice. Your reward depends on the number you get. In this website, you can use your device unused CPU power to mine bitcoins. You can mine through any number of devices using the URL they provide. The bitcoins are directly credited into your account. It is very useful as you will be generating free bitcoins without doing anything from multiple devices. Do not fall prey to the HI LO game because, you will be losing all the bitcoins you earn within no time. The bots behind the game are always trying to make you lose.
Before you create an account in Bit Fun, you have to create an account within Cryptocurrency microwallet Coinpot. Coin spot is a micro wallet, where all the bitcoins you collected from Bit Fun are accumulated. You can collect your bitcoins to your wallet once you reach the minimum payout amount. in Bit Fun, you can collect free bitcoins at any time. The coins start accumulating in the site and you can collect when you log in. Bit Fun also provides you with a number of other opportunities to earn free bitcoins. Visit the offers section, to complete surveys, tasks, see videos and play games and you are paid for everything. Visit regularly to check if any tasks are available. The tasks are easy to complete and you can make some free bitcoins.
BTCclicks is a pay per click website where you have to visit this site every day, click the ads, wait till the add is loaded and you get some free bitcoins credited to your account.
Finally, you will need a Bitcoin wallet to collect all the bitcoins in one place so that you can keep a track of them or cash them. The best wallet to do this is Unocoin. You can get some joining bonus using my referral code U400368.
The last and important thing to get a lot of free bitcoins is by referrals. Help your friends also by letting them know more about bitcoins, how can they collect free bitcoins and in return you also can make some bitcoins by introducing them to cryptocurrency and share your referral links.
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