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Everyone wants to know how to get free Bitcoin (BTC). Even more, now that the virtual currency reached massively high price levels there are thousands of individuals that want to know how to get free Bitcoin.
And this is a fair question.
Nevertheless, the answer might not the one you were waiting for. The only way to get a free Bitcoin is by purchasing it or mining it. Thus, it is not free. At this point, the best thing you can do to earn Bitcoin free is using faucets. Although you would not earn a lot, you might get an idea of how Bitcoin works.
What is Bitcoin and Why is it Demanded?
Before we go to how to get free Bitcoin, we need to understand why there is such a large demand for this virtual currency. The first thing we need to know is that Bitcoin was created back in 2008 by Satoshi Nakamoto and released to the market in 2009.
Since that moment, thousands of other digital assets have been released to the market. But none of them was able to reach the valuation Bitcoin reached (above $1 trillion dollars in 2021). Thus, Bitcoin became a highly demanded asset. Not only by retail investors but also by traditional and institutional investors from all over the world.
There are 21 million BTC ever to be mined. That means that the total supply of the asset is limited. There will never be more than 21 million BTC. Thus, the demand for the asset is massive but the number of BTC available in the market is limited.
How wouldn’t like to know how to get free Bitcoin?
Bitcoin works as an insurance policy against devaluating fiat currencies. This is another reason why everyone wants to get access to Bitcoin. At current prices (above $55,000), getting access to a whole Bitcoin becomes difficult for most households.
Is there such a thing as Free Bitcoin?
We know everyone wants to know how to get Bitcoin free. Nevertheless, this is not an easy task to do. Indeed, there might be not such a thing such as “free Bitcoin,” as there is not such a thing as “free money.”
Bitcoin is a different asset compared to devaluating fiat currencies. It is contrary to them. While governments and central banks print money out of thin air Bitcoin becomes their antithesis. A person that understands Bitcoin would know that there is no way to get free Bitcoin.
Additionally, Bitcoin works on top of a consensus algorithm called “Proof-of-Work,” which shows that there is an economic activity that allows for the creation of new BTC. Miners are in charge of generating new coins.
Do miners know how to get a Bitcoin for free?
Not really. They run very powerful computers (called ASIC miners) in order to process and confirm transactions. Their work is to keep the network secure, and they do so very well. Bitcoin has never been 51% attacked. Meaning that the decentralized network of miners worked very well against possible attacks on the network.
Moreover, miners have to pay for electricity bills, internet connection, a place where to operate and employees. This does not count the initial investment and continuous replacement of ASIC miners. This shows that Bitcoin is not free and cannot be generated for free.
Earn Free Bitcoins Instantly
Let’s put it that way. If there would be a method to earn Bitcoin free why would then Bitcoin have any value? Valuable things are not generated for free. If you are looking for the answer on how to get free Bitcoin fast, then we are sorry to tell you that such a thing does not exist.
Governments are printing money and giving it for free. Indeed, this is called helicopter money or the printing machine doing Brrrrrr. This lack of limits that exist among central bankers in terms of money printing has generated a strong demand for BTC and other assets. Including the stock market.
As you can see, the stock market continues to expand despite the current COVID-19 pandemic that continues affecting the lives of millions of individuals around the world. The effects of the large amounts of money printing over the last year could be seen as soon as things reopen. We are talking about higher inflation rates.
Bitcoin is programmed to have a declining inflation rate over time. Thus, the value proposition of Bitcoin is definitely different. There is not such a thing as a free Bitcoin.
How to Earn Bitcoin Free?
But there are still some ways, not to get Bitcoin for free, but to earn Bitcoin for doing some tasks. These tasks vary in terms of difficulty. Each of them would be suitable for different users. Let’s get into which are the ways we have of how to get a bitcoin for free.
This was the way Bitcoin (BTC) enthusiasts had in the past to get free Bitcoin. At that time, the answer to how to get free Bitcoin was really easy to answer. We are talking about the time in which CPUs were still an efficient way to mine Bitcoin.
Users could get rewarded with 50 BTC every time they found a block. This was massive at that time. However, as there were no mature and large markets for Bitcoin, these BTC were certainly not as valuable as today.
Indeed, Bitcoin’s price moved from just a few cents to above $60,000 in March 2021. Nowadays things look different. Miners are now receiving 6.25 BTC per block (one every ten minutes) and the transaction fees paid by the users.
Moreover, purchasing the necessary equipment to mine Bitcoin is very expensive. In order to be profitable, it is also very important to operate at scale and have very cheap energy. Some countries would not be suitable for this purpose.
Thus, if you are searching for how to get free Bitcoin, mining could be an option. Although you would not be buying BTC, if you have the necessary equipment to mine Bitcoin at scale, you can get it at a discounted rate.
Faucets have also been one of the most popular ways users had on how to get free Bitcoin. When BTC was not so popular, faucets were the way in which non-Bitcoiners could get access to BTC.
Just by doing a few tasks, for example completing a captcha, users could get rewarded not cents of BTC but a whole Bitcoin. If you wanted to know how to earn Bitcoin for free, this would have been the first answer a Bitcoin enthusiast would give you.
Faucets are still one of the ways on how to earn free Bitcoins. You will literally be earning them. Today’s faucets are very easy to use. However, don’t expect to get a whole coin. Indeed, you would get a few satoshis.
You would have to do a lot in order to earn the minimum withdrawal amount. Each site has a minimum withdrawal threshold that you should reach in order to get your satoshis. Thus, this could be a great way for those users that do not know how to get access to BTC and want to just understand the way in which it works.
Don’t expect to earn a whole BTC using a faucet.
Although this is a risky activity, many expert traders are able to increase their BTC holdings. Trading can be performed in many different ways and with different strategies. This is why you should be very careful before starting to trade.
If your goal is to get BTC, then you should not focus on the USD value of your portfolio but you should pay close attention to the BTC value of the funds you hold. If you have successful trades, then it is possible to increase your BTC holdings without necessarily buying more BTC.
This could be one of the ways on how to get 1 Bitcoin free. Nevertheless, along the way, you can lose your funds. A large number of investors that want to know how to get Bitcoin for free have lost funds due to using leverage trying to increase their profits.
The crypto market is very volatile and difficult to trade.
Participating in Giveaways
The cryptocurrency market is a land of opportunities. Indeed, there are several projects launching their projects and initiatives. This is why you should pay close attention to any possible giveaways of tokens.
Most of the tokens that are given away are usually tokens that run on top of the Ethereum (ETH) network. Thus, you should always have a wallet ready to receive these giveaways.
But you should always be cautious about giveaways. Although there are many projects that are usually doing real giveaways, you should be careful about those that ask you to send money or digital assets.
The typical scam is the one that they request funds promising to double them for you in seconds. Remember, when you use Bitcoin and other virtual currencies, you are your own bank. Once you send the funds, they cannot be recovered. Be very careful about where you send your funds.
Once you get the funds from the giveaway, you should send them to an exchange and get them exchanged for Bitcoin. This could be the easiest way on how to get 1 Bitcoin for free. If you are lucky enough, you can collect enough to purchase a whole Bitcoin. Nevertheless, we consider it will be highly unlikely for you to get 1 BTC.
Buy Bitcoin and Lend Them
The easiest way to get Bitcoin is to purchase it. This would not be for free but it would be the easiest and fastest way to get access to Bitcoin. To purchase Bitcoin you should open an account on an exchange.
There are dozens of exchanges around the world. The one that meets your needs would be the one you should definitely use to acquire Bitcoin. Some exchanges are offering the possibility to lend them and earn rewards.
Although the rewards are usually very small (close to 1% per year), if you already have Bitcoin, you can try lending them and get rewarded with BTC. There are other platforms (not exchanges) that are also offering lending services. If you want to lend BTC, you should also check the platform that pays the largest interest for your coins.
The main risk is that you could lose your coins if the platform where you deposited your coins goes out of business or gets hacked. Moreover, it might also be possible for the borrower to never repay his debt. Thus, there is also a risk if losing part of your money.
Participating in Airdrops
Finally, another way you have on how to get 1 free Bitcoin is by participating in airdrops. Airdrop rewards some users with tokens that could later be exchanged for BTC. For example, a project that is just starting in the crypto market does an airdrop of their tokens to users that hold ETH, TRX or another digital asset.
As soon as you get the coins, you might not be able to sell them. Indeed, the token might not yet be tradeable. However, as soon as it gets listed on exchanges or other platforms, you could exchange it for another one and get BTC. If you want to know how to get free Bitcoin, this could be one of the easiest ways.
How to Get Free Bitcoin Cash?
There is still a chance in which you could get Bitcoin Cash (BCH). Bitcoin Cash is a hard fork of Bitcoin that was created in 2017 aiming at scaling the Bitcoin network through an expansion of the blocks processed by miners.
BCH coins were given to users that held BTC at the time of the hard for at a 1:1 ratio. If you held 10 BTC, you receiver 10 BCH. If you have not yet claimed your BCH coins, you can still do it. In this way, you can learn how to get free Bitcoin and how to get free Bitcoin Cash.
You can sell your BCH and get BTC or you can simply stay in BCH. It depends on what you prefer. However, this is still a possibility if you have not yet claimed the funds you held on the Bitcoin Cash network.