How to earn free Bitcoin in 2021
- 5 minute read
Bitcoin has been on quite a rollercoaster in the past 12 years, with a recent all-time high of $65.000 per Bitcoin. Since most of us won’t be able to buy an entire Bitcoin, we are going to explain how you can get some Bitcoin for free. Below you will find a top 9 list of ways to get your Bitcoin for free in 2021.
How to earn Bitcoin for free
I often hear people ask me: ‘Is it even possible to get Bitcoin for free?’. My answer to those people would be: ‘Yes. It’s probably easier than you would expect.’. However, it is not easy to get rich for free. Below you will find a list of ways to get Bitcoin, or even other cryptocurrencies like Bitcoin Cash, for absolutely free. Be careful of scams though. If it sounds too good to be true, it probably is.
A crypto faucet is an app or website that distributes tiny amounts of crypto to a user’s wallet. In return, the user has to complete little tasks. Since the rewards are so small (like a drop of water falling from a faucet), these apps are called ‘Crypto faucets’. Most crypto faucets give rewards in the form of Satoshi (the smallest unit of Bitcoin), giving the user little bits of Bitcoin every time they complete a task. Of course, these cryptocurrency faucets also exist for altcoins like Ethereum, Litecoin, and many more.
One of the most accessible, and easiest ways to earn Bitcoin, is through affiliate programs of well-known cryptocurrency brokers or exchanges. An affiliate program means that you register at one of these exchanges, and simply let others create an account on that specific exchange while using your affiliate link. Basically, you are generating traffic for the online merchant, and in return, you will often be rewarded in crypto, and or fiat currency. You can find a perfect example of this on our own affiliate program. By promoting our platform through the affiliate program, you will be able to permanently receive a commission up to 0.25% of the total order amount. Very simple, and effective.
Mining Bitcoin is free and easy to setup. Mining means that you are assisting the network by letting your computer solve complex and mathematical problems. By doing this, you are increasing the security of the network. In return for letting the network use your computer, you are rewarded in Bitcoin. Starting with Bitcoin mining is easy. You can find all the documentation on the official Bitcoin website. Keep in mind that powerful computers are better at solving mathematical problems than relatively slow computers. Nonetheless, mining can be very lucrative if you let it run for long enough. Keep in mind that mining requires you to keep your computer running for a long time, and will raise your electricity bill!
I can hear you thinking: But I work for my salary! And this is true. But asking your boss to pay a part of your income in crypto is becoming more acceptable. If you would like to slowly build up a healthy crypto portfolio, this could be one way of doing that. If you are a business owner you can also choose to accept Bitcoin (or other cryptocurrencies) as payment method.
This one is one of the most advanced and dangerous ways of generating ‘free’ Bitcoin. This method requires you to have a starting capital (Bitcoin) before being able to participate. With this method, you can make use of the current values of both Bitcoin, and altcoins. The goal is to trade your way up to more Bitcoin. To keep it simple, I will give you a very plain example of how this might work. Imagine you have bought 1 Bitcoin for $1000 dollar, and the price jumps up by 100%, making Bitcoin $2000 dollar per coin now. In this perfect scenario, we would sell our 1 Bitcoin for $2000 USDT (a stablecoin that keeps its value). If Bitcoin would then drop back to $1000 dollar, it would mean you could buy back 2 Bitcoin without spending one extra dollar on your initial investment. In this perfect scenario, you would have doubled your Bitcoin with 1 trade. Keep in mind that this way of trading is for experts only and that great risks are involved in doing this.
Crypto browsers like Brave are free, new, and innovative. If you don’t know what Brave Browser is all about, you can read about it here. In short, the browser allows users to browse the web anonymously, control ads, and earn crypto while browsing. Earnings from the browser will be paid out in BAT tokens. Those tokens can always be converted to Bitcoin or any other cryptocurrency.
70% of the revenue from Brave's privacy-preserving ads goes to participating users in the form of BAT, regularly bought by us with advertiser $$. We just made our first @CoinbasePro purchase with the new BAT-USD option! Get Brave, opt in, and get rewarded! https://t.co/MET9Yy2WTg— Basic Attention Token (BAT) (@AttentionToken) April 23, 2021
Most people won’t be able to make any Bitcoin with this strategy. However, for people with their own website/following, this would be a possibility. This one is pretty straightforward, people can donate you some Bitcoin. Wikipedia also lets you donate BTC in order to keep the free-to-use website alive.
A crypto airdrop is a marketing method that is often used in new projects. It is a way to gain traffic, online presence, and form a community. Participating in an airdrop is free and easy. Active members within the community will be rewarded in the form of a new currency. Tasks you have to do can vary from sharing a social media post, or creating a post on different forums.
Lending / Providing Liquidity
Providing liquidity to liquidity pools can be a lucrative way of getting some extra interest. A liquidity provider is a user who is willing to fund the liquidity pool with assets of their own. You will earn passive income from this deposit (often in crypto). This tactic is also for the somewhat advanced crypto users. How much liquidity providers are paid depends on the amount of liquidity they are providing.
There are multiple ways of enlarging your current crypto portfolio for free. Even if you are new to crypto the possibilities are endless. Of course, there is no easy and free way to getting rich. But slowly building a crypto portfolio is always a smart idea. Since the crypto market is often volatile, $100 dollar you earn for free today, might turn into $1000 dollar next year. Are you looking for a direct way to buy Bitcoin or any other cryptocurrency? Check out our list of cryptocurrencies and see what interests you!
Read all you need to know about it on our Bitcoin Overview Page.