The price of Bitcoin seems to stabilize in the beginning of the winter of 2018. The instructions from 2017 and earlier made it possible for a lot of people to get their first BTC. It is especially important, as they were ones who mostly did not know what Bitcoin is. These opportunities were backed by CD-like instrument, where Bitcoin deposit paid interest of 4.08%. This continues to pay interest every day up to date. Several users have asked us in private correspondence to update the article to the 2019 conditions. Is it profitable to start with free Bitcoins now?
Free Bitcoins is not a clickbait!
The title is not a clickbait. In fact, it describes the way to get free bitcoins, you only need to have a secure Bitcoin address and some time. This is the simplest and most popular way to acquire a small amount of cryptocurrencies, organized in the intention to popularize technology and enable users to test and transfer their BTC holdings from the very beginning of their crypto adventures. Hence, it is not a strictly grab and run scheme, as it is organized action by miners, early adapters, engineers around the Bitcoin protocol and businesses involved in cryptocurrencies. Business will continue until it pays to distribute the smallest unit of account in the bitcoin ecosystem, that is 1 satoshi (= 0.00000001). 100 satoshis is at the moment of writing a little over half of a one US dollar cent.
How to get free Bitcoins, instructions in one minute for those who don’t like long reads
On the wave of ever higher BTC prices, let’s check out method of how to get small amounts of bitcoins for free. The goal is to collect enough satoshi to fund the BTC deposit and test it without any investment. The collection consists of continuous usage of Bitcoin distributing site and collecting a minimum deposit by claiming free Bitcoin every hour. This should take about three weeks with support or a few weeks more without. Below you will find: a description of the site, description of facilities and ways to speed up collection, general remarks about the bitcoin ecosystem and detailed calculations.
Why would anyone give away Bitcoins for free?
The mechanism itself is not unusual, surprisingly. Giving away bitcoins is a natural way to advertise cryptocurrencies. Remember, that this is a way to get a small amount of cryptocurrencies and popularize Bitcoin. We often recommend this method to people who have time and willingness to learn the basics of new technology, but lack motivation and funds. This guide is to serve as a summary of the idea and instructions in one: at the beginning it was intended for a circle of friends and people who asked us about BTC. Slow adaptation of the cryptocurrency ecosystem made the initial services grow into complex systems that meet more and more needs. The fact of adding paid deposit in Bitcoins by the freebitco.in in the form of a bitcoin interest deposit makes a positive impression. This is especially interesting since the interest rate is at a competitive level over 4% per year. Confidence in the cryptocurrency market is in permanent deficit and every service consisting of payment for storing money should attract great interest, especially provided by a player operating for a long time. Hence, the initial service of paying small amounts of cryptocurrencies for educational purposes, extended to the possibility of depositing bitcoins into a fixed percentage has become much more worthy of attention. I decided to refresh the description for 2019 and bring more people closer the chance of participating in the revolution: services of low-interest but potentially secure deposit in the world of cryptocurrencies.
One digress, let’s look at the other side of the transaction. The offer of interest-bearing deposits, at the time of writing is 4.08% per annum, usually means simply the desire to raise capital.
- The goal can be simply to earn from an organic increase in the value of the currency. Bitcoin can change it’s price very fast, for example topping several years ago at $1,300 for 1 btc, while at the end of 2018 we were over $6,000 for 1 BTC, almost to $3500 and back over $4000
- Another idea is discouragement of depositors for withdrawals, at an interest of around 4% when bitcoin is at local price peaks
- Perhaps the company has plans to implement a project that requires more capital to spend or a larger balance sheet. Basic ideas are an investment in extending the cryptocurrency mining activity (the company declares that its current share is 0.18% of the total bitcoin bitcoin ecosystem) or investments in other cryptocurrencies and their infrastructure
- Most likely, only after couple of years the company already has a sufficiently large user base (4+ million), although the website requires refreshing. At the end of 2018, the user base grew to over 16 million accounts
- At the end of 2018, the site continued to develop the mining part of cryptocurrencies, being an important node that maintains the Bitcoin ecosystem
I hope that we have emphasized the word “usually” enough. In the wild west of the cryptocurrency, it is also important to check the risk of the company or venture going belly up. The first alarm signal would be the fact of daily settlement (0.0109589% daily, granted at a random time), although this may be used for marketing or technical reasons. Nevertheless, daily capitalization will cause the company to owe more interest to users, while day by day deposits will rise quicker by earned capital. The question is whether the growth rate will be lethal for the idea of interest-bearing deposits, eg in the light of the decline in BTC value? Factors worth following as well are: the company’s situation, comments of people related to the company, observation of the industry and ongoing projects, bitcoin exchange rate, delays in payment of deposits, quality of support and time of answering questions, etc. This would end the digression about organization and the risk.
Free bitcoins in just a few weeks?
Let’s go back to reality. We know that there are free bitcoins for educational purposes and in addition to the new experience, there is an additional motivation. The site with free btc offers interest-bearing deposits with a real interest rate. Awareness of the wild west makes us want to risk as little as possible, so we aim at the lowest deposit level, account balance of over 30,000 satoshi.
How to start earning free bitcoin? Step by step
If you are willing to start with your own Bitcoin address, setup one in one minute by reading instructions: How to get BTC address.
- Register on the free bitcoin site with e-mail address or Bitcoin address.
- Claim your first free Bitcoins by clicking “ROLL” in the Free BTC page.
As you notice, you earn variable amount of cryptocurrency. Let’s calculate how much could we earn.
The script allows us to claim to our account about 50 satoshi every hour (at bitcoin price around $4000). The clock would adjust itself automatically and after one hour countdown you will be able to get BTC again. The roll value depends on the value of bitcoin, the number of granted satoshi increases with the rate of decline in the value of the currency and vice versa. From one IP address you can collect satoshi on only one account. Nothing prevents you to invite family members to sign up the account on a mobile phone that does not use home wifi, they could collect satoshi at the same time then. It is unrealistic to maintain the pace of 20 hits a day, but going to the site 6-8 times a day on two devices enables reaching 30,000 in just over couple of weeks week (if we’re lucky and the picture verification will be simple or will not turn on, everything will take care of us altogether about an hour). Since 2018 there were major change. Due to the lower number of satoshi, it is worth supporting mining cryptocurrency through the browser. Browser cryptocurrency mining works doesn’t work for all accounts, check if your on your freebitco.in account mining would be enabled. Thanks to that, we are able to reach the target ceiling in just a few weeks. The deposit interest is activated automatically after exceeding 30,000 satoshi, and from then on several satoshi will be automatically added every day to the account balance. Voila, if everything goes well, maybe in a dozen or so years we will pay a good dinner;)
For those who want more than the minimum
The following section is for the persistent users, who want to increase their chances of collecting the most free Bitcoins. The satoshi collection process can be supported in many ways:
- Supporting mobile devices and referring claiming of free satoshi to friends who are familiar with cryptocurrencies would result in more satoshi
- Reward points, thanks to which you can, for example, draw 10% / 50% / 100% more satoshi for each roll. It is very important to be aware that the increased bonus can be redeemed only for 24 hours (ie for 23 turns) and to use it the most you need to visit the site more often that day
- A more advanced strategy is to issue Reward points for getting even more Reward points, so that you can quickly replace them with the bonus just mentioned. The cost of this exchange is only refundable if we visit the website no less than 13 times within 24 hours
- The most risky way is to play Multiply your BTC, but because it is a game with negative expected value, we recommend “hit and run” tactics, preferably immediately after profiting the minimal amount
- For each roll you get tickets for a weekly lottery, where you can win up to 1 btc. During one roll, you get two tickets for the lottery – unfortunately, collecting a thousand tickets has the expected value of several usd cents. You can therefore, without much regret, disable lottery tickets for Reward points (in the “Profiles -> Disable lottery” section)
There is an option for those, who are willing to really sit on this and get the most of the opportunity. The guide for the most persistent looks as follows:
- Collect Reward points and use them roughly every two weeks for the Free BTC 500% bonus, which costs 1200 Reward Points. There would be 24 hours, during which you will collect 500% more from free rolls: 20 hits per page in 24 hours is a great result. Assuming that the roll is standard 32 satoshi, you would get 160, or almost 4000 satoshi on one day, from one account. One such action and you would get more than 10% of the threshold of the deposit.
- The hardcore version to replace Reward Points for even more Reward Points, in this scenario you need at least two intense days: one in which you collect additional Reward Points with at least 13 hits a day (real targets in more than 20x), and another day it’s just “Free BTC bonus”.
Scenarios for the most persistent are sensible only in two cases: you want to exchange our time for an interest-bearing deposit and you trust the company that it will be in business long enough for interest to grow to a satisfactory level without further effort. To give you hope, we received several messages from our readers who checked these strategies and applied them through 2017 and 2018, collecting much more than we had calculated. Thank you to all for contacting, summarizing, screenshots and improving these strategies.
Summarizing free bitcoin
We are beginning with an obvious conclusion. You will not make big money here, you will not make even average money this way. If you count on the fact that you will earn a large amount of this way, unfortunately I will worry you. It is better to deal with solving a specific problem in the cryptocurrency ecosystem or try brokering or trading.
The reason why you should try free bitcoins in 2019 is the opportunity to participate in the next stage of the development of the bitcoin ecosystem. This time it is with low-interest, potentially secure deposits, just earning more cryptocurrency just by owning some. In addition, the benefits will reward those who need the motivation to learn what bitcoin is, to acquire a bitcoin address, learn how to handle bitcoin wallet, effort to learn and implement a private key protection method. You need to prepare a basic workshop to claim your first free satoshis. Thanks to this, the next steps, such as registration on the cryptocurrency exchange, giving small amounts for a beer to a friend with a btc wallet or buying small things for a cryptocurrency suddenly become easy and available.
Interested? Check your endurance. Get free bitcoins as a reward.