How Can I Get Bitcoins for Free?
I realize that the value of a Bitcoin has grown exponentially in a short period of time. I find it difficult to believe that people, or companies, would be willing to part with a Bitcoin in any sort of giveaway. This is why I am reluctant to believe the rumors that I have heard about certain websites and apps that claim to do just that. Do they really exist? If so, are they on the level, can they be trusted? I guess my bottom line question is pretty simple, how and where can I get Bitcoins for free?
— Short Answer —
Yes, as valuable as Bitcoin is today, there are ways to get Bitcoins for free. Of course, the amounts that you would receive would not be astronomical. However, when you consider the recent appreciation in Bitcoin value, even a fractional portion of a Bitcoin today could be worth a substantial sum in the future.
— First, Understand a Satoshi —
When it comes to dealing with and transacting with Bitcoin — especially when we are going to talk about ways to obtain them for free — you must know what a “Satoshi” is.
A Satoshi is currently one-hundredth of a millionth of a single Bitcoin. It is the smallest fraction that a Bitcoin can be segmented. The same way that a single dollar can be segmented into 100 cents, one Bitcoin can be segmented into 100 million Satoshis.
Knowing the meaning of a Satoshi is critical when it comes to free Bitcoin. This is because, at current market values, you are not going to find any place where you will receive free whole Bitcoins. You will, however, find places that will offer you free Satoshis.
— A Bitcoin Faucet —
The next step in obtaining Bitcoin for free is finding a “Bitcoin faucet.” This is the term that is given to a site or an app that gives Satoshis away as part of a reward system.
Usually, these faucets will give away the free Satoshis in exchange for a micro-task being performed by the user. These micro-tasks can take the form of completing CAPTCHAs, sorting images, completing surveys, or engaging in on-screen activity that resembles a rudimentary video game.
After a predetermined length of time engaging with the site — usually in five-minute increments — the visitor will earn some Satoshis.
We have set up a huge list of bitcoin faucets and altcoin faucets here.
— What You Need to Join a Faucet —
To join a faucet you need to have a Bitcoin wallet. All faucets will require your wallet address in order to deposit your Satoshis.
— Why Do Faucets Exist? —
Some people, such as yourself, find it so incredulous that any entity would give away Bitcoin for free. Perhaps if you saw it not as a “freebie” giveaway, but rather as a revenue-generating mechanism for the entity conducting it, you might find it easier to accept and understand.
While there are a few faucets that exist simply to generate awareness about Bitcoin and cryptocurrencies, the vast majority conduct their giveaways to generate revenue for themselves. Some do so by placing ads on the site. Others derive their income by serving as a general outsourcer for micro-tasks. The amount that they give away in Bitcoin to their “workers,” is less than what they charge the clients ordering the tasks. The difference is their profit.
— Are Faucets Worth Your Time? —
As we have stated, the time that you spend on faucets will earn you free Satoshis. You might be thinking that 100 or even 1,000 Satoshis are not going to be fair compensation for the amount of time that you have to spend on the faucet.
That statement, if taken immediately upon earning the Satoshis, may ring true. However, if you are forward-looking and you believe — as many financial and economic experts do — that Bitcoin will rise significantly more over time, then those little slivers of Satoshis can become small little fortunes at some point in the future.
Another way to look at it would be imagining yourself collecting small slivers of gold or platinum. Altogether they may not add up to much. However, if years from now the value of gold or platinum were to grow exponentially, those slivers can become immensely valuable.