Over the past year, Bitcoin prices have soared, and many people are looking to get in on the action. You may be wondering, though, with everyone trying to get on board with Bitcoin, how can I possibly get any? Fortunately there’s several ways to earn small amounts of free Bitcoin on exchange for a little bit of your time, no fiat money required.
It should be noted, however, that you won’t get rich off of these methods. Sorry! They’re more of a way to get your feet wet and have a few fractions of a Bitcoin in your pocket. With that out of the way, onto the methods..
Faucets are probably one of the better known ways of earning free Bitcoins. How it works is you go to the faucet (we have a list of working faucets), solve a Captcha or math problem, enter your Bitcoin wallet address and get some Satoshi (0.00000001 BTC each). You can usually repeat this every 5 minutes but the time may vary.
The biggest downsides to faucets are the ads and high payout requirements. Most faucets are littered with excessive ads, making the pages slow and cluttered. Also, most faucets only pay out 10 to 100 Satoshi every few minutes, and require more than 10,000 for them to pay out. This could potentially takes weeks or months depending on how often you visit them.
Blogging about cryptocurricies (or anything you fancy, as long as you get traffic) and asking for donations or placing ads on your site can be a great way to make some extra Bitcoins. There are many ad services out there that let you place ads on your blog and pay you for clicks (or impressions if you get high traffic) in Bitcoins. One such service is Coinurl.com, letting you place efficient ads on your site, without interrupting user experience. If you don’t like CoinURL, a quick Google search will reveal many more options.
The important thing to remember when blogging is to remain consistent and to provide quality of quantity. Frequent, garbage posts won’t get you regular visitors. However, high quality posts once every couple months won’t get you many regular visitors either. It’s important to strike a balance, posting a high quality article every couple days.
If you need inspiration, there are millions of blogs out there that you can learn from. Just search for blogs you’re interested in and read through them. Make note of how often they post, the subjects they post about and how popular each post is.
While this method doesn’t really give you “free bitcoin”, it does let you use your spare time to earn some extra cadh, especially if you’re popular.
Good old fashioned mining. By far the best way to earn Bitcoin, at least if you have a powerful computer or mining equipment, mining lets you obtain (basically) free Bitcoin right from the source. The only thing it costs you is the mining equipment, which you might already have if you own a gaming computer, and the electricity to run it. With a sufficiently powerful computer you can make a profit of anywhere from $0.50/day to several dollars per day. Some dedicated mining equipment can make more than $10/day profit. Not bad for no effort on your part, huh?
While mining can have a high initial startup cost if you have no equipment, it can easily pay for itself in 6 months or less, meaning you will be earning almost pure profit afterwards, minus electricity costs.
Accepting Bitcoin as Payment
Okay, okay.. This one isn’t “free” in the same way as the others. But a really easy, honest way to get extra Bitcoin in your pocket is to accept Bitcoin from others as a form of payment. If you own a business, sell various items on the side or have a paid online question/answer type of service, this method may be perfect for you.
To do this you need a way to easily accept the Bitcoins from others, for example a Coimbase merchant account or a QR Code with your wallet address. You can entice people to pay in Bitcoin vs fiat money by offering a discount to those who pay via Bitcoin. With a discount, those who already have a Bitcoin address will he happy to pay and those who don’t may be willing to set up a wallet just to get the discount.