20 May, 2019 | AtoZ Markets - Currently, Bitcoin is the hottest form of investment since its inception. So, in the past year, Bitcoin has soared more than 1,300% to nearly breach the $20,000 mark. Now, people around the world have started knowing Bitcoin’s power because the concept of decentralization. Also, the other features such as borderless payments and uncensored digital money makes Bitcoin revolutionary.
6 ways to earn free bitcoin online
As Bitcoin price increases, more and more people are becoming interested in not only buying the coin as an investment. Nowadays, people also want to earn free bitcoin online to supplement their income. In this article, you will show you how to earn free bitcoin online.
#1 Bitcoin Faucets
Bitcoin faucets are one of the simplest ways to earn free bitcoins online. Faucets are websites that dispense financial rewards in the form of satoshis for visitors to claim in exchange for completing a captcha. Or as a small reward for viewing ads as described by the website. Bitcoin faucets are able to pay out small amounts of bitcoin. Since they generate revenue through pay-per-click advertising. Moreover, the three most popular bitcoin faucets include MoonBitcoin, FreeBitcoin, and BTCClicks.
- Very easy
- Rewards are tiny
- Boring and time-consuming
- Don’t always payout as a promise
#2 Playing Online Games
Online games have surged in popularity in recent years, due in large part to the increasing ease-of-use and reduced regulation. The majority of this growth can be attributed to cryptocurrency and the way in which it circumnavigates over-restrictive government regulations.
Online gaming naturally comes with associated risks and in itself can’t truly be considered a way to earn free Bitcoin, but there are many gaming sites that offer free rewards and require little or no initial deposit. There are currently several online games through which you can earn free Bitcoin without needing to make an initial investment, leaving you completely free of risk and providing only profit.
- Online gaming has the potential for high earnings
- Gaming is fun if you’re winning and easy
- Might be addictive
#3 Bitcoin Cloud Mining
One of the popular ways to earn bitcoin online is through bitcoin cloud mining. Cloud mining refers to a form of bitcoin mining where instead of mining bitcoins at home using bitcoin mining hardware, individuals rent the mining hardware of cloud mining operators such as Genesis Mining for a small fee.
It enables individuals to start mining bitcoins and other digital currencies without having to invest in expensive mining equipment and without having to personally maintain a mining operation.
Cloud mining works in a way that users invest in a mining contract, which will then start to payout until the contract is over. Some companies, such as Genesis Mining which offers unlimited mining contracts that will run until mining no longer becomes profitable. This means that if the price of bitcoin falls and it costs more to maintain the mining equipment than the revenue they generate the mining hardware will be switched off by the operators and the contract will be canceled. This is the only risk when investing in bitcoin cloud mining. However, if Bitcoin's price continues to surge, cloud mining contracts will continue to pay and be profitable.
- No explicit knowledge
- No extra space at home
- Risk of fraud
- Lower payouts
- No control
#4 Affiliate and Referral Program
There are several websites that offer small amounts of free Bitcoin in exchange for filling in surveys, doing reviews or completing other similar activities. These are usually designed to boost a website’s online profile and create the impression of traffic.
Completing surveys has long been a popular method of earning small amounts of money online but with cryptocurrency, it has now become even easier. Most sites can now pay participants instantly to their Bitcoin wallet and avoid the complexities of registering and providing bank details.
Grabpoints website offers free Bitcoin in exchange for watching videos, taking surveys, completing offers and downloading apps. Your earned points can be converted to Bitcoin and deposited directly into their cryptocurrency wallet.
- Potential for good passive income
- Very little effort required
- Requires either an existing subscriber list or hassling your friends and family
#5 Completing Micro Tasks, Surveys, and Activities
Bitcoin microtask platforms allow earning bitcoin for completing small tasks online by filling out surveys, testing software or completing simple tasks. Some of the popular bitcoin microtask platforms include BitcoinGet, BitcoinReward, and the microtask-for-hire portal WillPayCoin.
Alternatively, you can also download the bitcoin microtask apps Bituro and Coinbucks, which both pay you for completing micro tasks such as playing mobile games, downloading and testing apps and watching videos on your smartphone.
- Easy and accessible to anyone with internet access
- Can be done in spare time
- Rewards are often very small
#6 Peer-to-Peer Bitcoin Lending
If a user is holding bitcoin and wants to earn free bitcoin online, engaging in bitcoin peer-to-peer lending could be worthwhile. Peer-to-peer lending refers to individuals investing in loans taken out by individuals, startups or small enterprises and is a new form of financing that has gained substantial popularity among small and medium-sized businesses in recent years.
P2P lending allows individuals to secure a loan from a bank to receive funding and allows private investors to receive high-interest payments on the loans they grant.
According to our research, BitbondBitbond is the first and leading peer-to-peer lending platform using the digital currency bitcoin. This means that small investors from all over the world can engage in P2P lending without the need for a bank account.
By lending bitcoins on P2P platforms you can earn up to over 20% return on your investment, which makes bitcoin peer-to-peer lending a great way to passively.
- Could offer very good returns with minimum effort
- High risk involved
- Initial capital required
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