Bitcoin has been a hot topic for years. News of its drastic price increases or decreases is splashed across news headlines and on social media. Presently, with the price of one Bitcoin costing approximately $20,000, owning one whole Bitcoin may seem out of reach for some.
But you should know that it’s possible to own a fraction of Bitcoin. Each Bitcoin comprises 100 million Satoshis, which are the smallest units of Bitcoin (similar to how 100 pennies equal one dollar, 100 million Satoshis equal one Bitcoin).
Have you ever wondered how you could get Bitcoin for free? If you answered yes, then this article is for you.
Six Ways to Get Bitcoin for Free
1.) Bitcoin Mining — Let’s talk about the first known way to generate Bitcoin, crypto mining. Bitcoin miners generate BTC by offering computing power or using a mining rig to solve algorithmic puzzles that help secure transactions on the Bitcoin network.
However, it should also be known that it’s gotten increasingly more difficult over the years to mine Bitcoin. Most bitcoin miners use devices such as an ASIC miner to gain block rewards for validating transactions, but those machines are expensive and cost thousands of dollars.
In addition, there are also cloud-based alternatives to investing in Bitcoin mining equipment. Sites such as unMineable allow users to generate crypto using their computing power to mine otherwise non-minable or difficult-to-mine cryptocurrencies.
2.) Crypto Faucets — This is an attractive option for generating free crypto. Gavin Andresen developed the first Bitcoin faucet in June 2010, which was used to educate people on how to use Bitcoin. Users submit their Bitcoin public address or other information to request funds.
A crypto faucet will sometimes ask the user to complete a particular activity. As just one example, Gavin’s Bitcoin faucet paid users 5 BTC daily for completing a captcha. Here are a few examples of crypto faucets of 2022, as rated by the site Business 2 Community.
3.) Crypto Referrals — Customer referral programs are another easy way to generate Bitcoin and other types of cryptocurrencies. Several exchanges will reward you in BTC or another form of crypto for referring new customers to their business.
Simply sign up for an exchange with a referral program, get a unique referral link, and share that unique referral link with your friends and family or on social media. A word to the wise, make sure to follow the exchange’s instructions to gain the crypto referral credit.
4.) Crypto Writing — There is high demand for crypto content, primarily since cryptocurrency has become more widely adopted and accepted, which has increased the need for crypto writers and crypto-related blog content. There are also many crypto platforms offering crypto as payment to writers in exchange for creating and publishing crypto articles. Two of the most popular sites are Publish0x and Steemit.
5.) Learn and Earn — These crypto platforms are all the rage. Several crypto exchanges offer the ability to receive crypto for watching short videos and tutorials on a specific cryptocurrency or a new DeFi protocol. Crypto Learn and Earn platforms are a great way to expand one’s knowledge in crypto while simultaneously generating more crypto.
6.) Crypto Credit Card — Using a crypto credit card is a great way to receive crypto rewards on your everyday purchases. With a crypto rewards card, you can receive your rewards payout, usually in a cryptocurrency such as Bitcoin or Ethereum.
Abra Card by American Express
Want a crypto credit card? Head over to the Abra Card by American Express waitlist. We’ll give you priority access to apply for the Abra Card by American Express when it launches.
At Abra, we prioritize risk management. Established in 2014, Abra has built a reputation in crypto as one of the safest and most secure crypto wealth management platforms for private individuals and family offices. Abra, a trusted name in crypto, is managed by experienced crypto industry professionals. Try Abra Trade and Abra Borrow, today!
Established in 2014, Abra is on a mission to create a simple and honest platform that enables millions of cryptocurrency holders to maximize the potential of their assets. Abra enables both individuals and businesses to safely and securely buy, trade, and borrow against cryptocurrencies – all in one place. Abra’s vision is an open, global financial system that is easily accessible to everyone.
Based in the United States, Abra is available in over 150 countries and makes it easy to convert between crypto and a wide variety of local fiat currencies. With over 2MM customers, $7B in transactions processed, and $1.5B in assets under management, Abra continues to grow rapidly. Abra is widely loved and trusted – in April 2022, pymnts.com reviewed and rated Abra amongst the top 5 most popular crypto wallets in the market. Abra is backed by top-tier investors such as American Express Ventures and First Round Capital.
How Abra Protects Your Funds
Abra places clients’ financial objectives and security first. Abra practices a culture of risk management across all levels and functions within the organization.
Abra employs a state-of-the-art enterprise risk management framework that comprises a comprehensive set of policies, procedures, and practices detailing all applicable risk-related objectives and constraints for the entirety of the business. Abra has instituted a complete set of requisite systems and controls that continuously enforce these policies, procedures, and practices to manage all operations, including credit and lending. Abra’s independent Risk Committee comprises experienced compliance, risk, securities, and fraud operations professionals with backgrounds in industries ranging from traditional and digital assets banking, payments, remittance, to fintech.
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