Bitcompare is your crypto comparison site
Cryptocurrency has come a long way from its roots. Back in 2010, a computer programmer bought two Papa John's pizzas for 10,000 Bitcoins. At current exchange rates, those two pizzas would be worth over 90 million dollars. It's safe to say that these were the two most expensive pizzas ever bought by human hands.
Enough about pizza: let's say that you want to get a slice of the action and earn Bitcoin yourself. All the Bitcoin on Earth is worth around $160 billion so why not claim some for yourself? In this guide, we're going to show you how to get free cryptocurrency.
You can forget handing over dollars for crypto. By the time that you've finished this article, you'll know how to get free Bitcoin for little to no effort on your part.
Ready to find out more and claim a piece of that billion-dollar market for yourself? Then read on.
One of the best and easiest ways to earn Bitcoin is by opening a savings account like those offered by BlockFi or Celsius Network. These savings account work like any other. You deposit Bitcoin into the account and, over time, interest grows on your initial deposit.
This is a fantastic solution for those who have bought Bitcoin in the past as an investment and don't know what to do with it. You can't invest in stocks and shares very easily with Bitcoin, so some people end up having Bitcoins sat in their wallets doing nothing, sometimes losing value.
One of the best features of Bitcoin interest accounts is that they often have fantastic interest rates. The interest starts from the very first moment that you put Bitcoin into an account and it compounds over time, so you'll likely end up with a good return every year.
For those wondering how to get free Cryptocurrency, there aren't many better solutions out there. It does require owning some Bitcoin to start with but fractions of Bitcoin don't have to be expensive. Make that investment and you could end up with considerable returns.
Loans may not seem like the most obvious way to make money but they can help you make some serious crypto cash. When you take out a loan with a company like Nexo, you provide them with a Bitcoin as collateral. If you fail to repay your loan, they'll take your collateral.
In return, you get fiat currency or stablecoins that you can use however you please. Using these funds you can make investments and trade your coins to make more money. You'll need to make regular payments on your loan but you still have the opportunity to make serious cash.
You'll need to keep making repayments until you have paid off the loan at which point, you'll get your collateral back. This may seem very akin to a regular loan but there are some key differences to getting a personal loan at a bank.
Unlike a personal loan, your credit score won't matter: you're not going to get stuck in the trap of having to rebuild your credit score. You're offering collateral upfront so there's no risk to either side. If you can't pay the loan back, they'll take the cryptocurrency: they won't lose any money and you won't need to deal with debt collectors.
If you're interested in learning how to get free cryptocurrency and find the best lender that you can, take a look at our site's listings.
There aren't many easier ways to earn Bitcoin than by having it as a reward for your day-to-day spending. That's what debit card rewards can offer you. Don't expect this kind of service with Amex, though; you'll need to find a more specialized debit card for this.
Specialized crypto cards offer you rewards for every processed transaction on that card. This is very similar to the more traditional system where spending fiat currency gets your airline miles but with money in place of vouchers.
What can you spend this Bitcoin on? Often, you'll be given a shop where you can trade Bitcoin for gift cards that you can use at a wide range of different stores online and off.
While some of these cards may be slightly limited in what you can do with your Bitcoin, if you're wondering how to get free Bitcoin, this is as free as it gets. No initial investment required: just use your card as you normally would.
The most traditional way to earn Bitcoin is by mining. What is mining and what does it involve? Let's take a closer look.
What Does Mining Bitcoin Do?
Mining isn't only a fantastic way to earn Bitcoin, it also serves a very important purpose for the crypto community. Mining means using your computer to solve complicated mathematical problems that make up the blockchain.
In essence, the blockchain is a record of verified Bitcoin transactions. When you solve these problems, you record these transactions in a huge shared database of Bitcoin transactions.
Due to the shared and open nature of the blockchain, forgery is almost impossible, which makes Bitcoin and other cryptocurrencies that use its model, the most secure currencies in the world. This is the public service that lets you earn Bitcoin while contributing to keeping Bitcoin the functional and safe currency it is today.
When you mine, you're competing against other miners to be the first to solve the problem. This means that if you want to make good returns by mining, you need powerful hardware.
Ideal Bitcoin Mining Hardware
While you don't need to buy Bitcoin to mine it, you do need to invest in good hardware before you start mining. You should, at the very least, invest in a good GPU, as using a GPU is much more efficient than using your computer's CPU.
If you want the best chance of making cash, you'll need to buy an application-specific integrated circuit (ASIC). An ASIC is designed with one purpose in mind: to earn Bitcoin.
Mining is much harder than it used to be but with the right hardware, it's still one of the best ways to earn Bitcoin.
If you don't want to get a specialized debit card to earn Bitcoin rewards, there's another alternative. The browser extension Lolli gives you Bitcoin rewards for buying from different stores online.
Different stores offer different returns and rewards for your spending and some of them can be very generous.
If you're wondering how it works, the stores partner with Lolli to drive purchases to their sites. A portion of the payments that they make to Lolli are then passed on to you.
The extension is available on a variety of browsers including Chrome, Firefox, and Safari. The variety of stores that you can use Lolli on are impressive too, including:
In total, there are over 750 stores where you can earn Bitcoin with Lolli just by spending money. In general, Lolli has all the flexibility of a Bitcoin debit card without any of the commitment.
There are a lot of websites out there that offer fiat currency in exchange for taking surveys online. If you want to make a little bit of extra cash but don't want to get depreciating fiat currency in exchange for your time, look to Timebucks.
This site lets you fill out surveys, post on social media, click ads, and install apps. In exchange, you'll get cryptocurrency. Instead of getting gift cards like a lot of online survey sites offer, you'll be getting cold hard Bitcoin delivered to your wallet.
When you sign up for the site, you'll be shown a list of surveys that you can take and the pay rate. Other tasks that you can take, like watching videos or viewing web pages for a certain amount of time will also be shown. You can also get some cash by inviting friends to the platform or by entering the daily prize draw.
While Timebucks may not offer the best return for your time, it is a very easy way to earn Bitcoin in your spare time.
When pondering how to get free cryptocurrency, it can seem like an impossible dream but as you've seen in this list, there are a great deal of ways that you can earn Bitcoin with no effort on your part.
Create your free account to unlock your custom reading experience.