Get Bitcoins for Free
Bitcoin is the cryptocurrency that started it all. Out of over 8,000 cryptocurrencies currently circulating on different blockchain projects, Bitcoin is the most popular one. Its impact led to the adoption of digital currencies in the mainstream.
Since Bitcoin’s first public launch in 2009, it has risen tremendously in value. Investors, big and small, saw this coin’s potential and started treating BTC as digital gold.
But before you spend a ton of money on BTC, did you know that there is a completely legit way of getting this crypto coin without spending a single cent? Read on below to find out how!
What is Bitcoin?
Bitcoin is essentially a digital currency that enables secure and seamless peer-to-peer transactions on the Internet. Viewed as the future of finance, this payment system uses cryptographic proof instead of relying on trust.
What is it about Bitcoin that disrupts the financial system as we know it? You might think that our current system is already working. Why fix what isn’t broken? We find something we want or need, we use debit or credit cards. We want to send someone money from the other side of the world, we use different online payment systems such as Venmo, Paypal, and countless others.
But payment goes through the bank, credit card company, or any central authority where they take a cut from each transaction. Because they handle every financial transaction, you give these institutions control over your funds. You have no other choice but to trust them to do the right thing. Over time, these cuts add up to a large amount of money as well.
In 2008, a mysterious programmer named Satoshi Nakamoto created the solution in the form of Bitcoin. Instead of banks and credit card companies recording every transaction in a central ledger, all users in the Bitcoin network can record and have access to a public ledger. This makes transactions hard to reverse and fake. Users can buy, sell, and trade directly without a central authority governing these transactions.
Bitcoin offers a cheaper, quicker, and easier way of spending money regardless of location.
How Bitcoin Works
Bitcoin is built on a blockchain. Blocks that contain information on all transactions that have occurred make up the blockchain. Data includes the date, time, total value, the buyer, the seller, and a unique code generated for each exchange. These entries are strung together chronologically, creating the blockchain.
The block becomes accessible to all users who wish to view it. It acts as a financial database similar to Google Spreadsheet where anyone with a link can view, edit, and contribute. As people update the sheet, so does your copy.
While it can be perceived as a security risk, this method maintains the transparency of this blockchain project. The majority of all Bitcoin holders have to verify each block that gets added. The unique codes that distinguish user wallets and transactions must conform to the correct encryption pattern.
Note that these codes are long and randomly generated numbers, making them extraordinarily difficult to fake. These unique codes vastly reduce the risk of fraud.
How to Get Bitcoin
If you want to get your hands on these highly coveted coins, here are legit ways of obtaining Bitcoin.
People usually buy BTC on cryptocurrency exchanges. You can buy, sell, and hold crypto on these exchanges. Major exchanges such as Coinbase, Binance, Kraken list Bitcoin. Setting up an account is easy. You only need to verify your identity and deposit funds to your account. Then, you’ll need a wallet where you can store it.
Keep in mind that Bitcoin is expensive. Most users buy fractional Bitcoin. You also have to consider trading fees when making a purchase.
Mining is a surefire way of acquiring BTC. You would need to allot time and money to mine this coin. Not only do you need to get sophisticated and expensive hardware, but you also need to have technical skills to solve complex math problems. On top of that, mining consumes a lot of power, so be prepared to shoulder high electric bills.
Aside from rewarding miners with BTC for every problem solved, mining also has other functions. It introduces new coins to circulation. Mining keeps the network up and running by confirming new transactions and maintaining the blockchain ledger.
Get Rewarded Instead
Buying or mining BTC isn’t your cup of tea? FreeCryptoRewards offers you a completely secure and legitimate way of obtaining this coin. The best part? You don’t have to pay a single cent.
Complete simple daily tasks such as watching videos, completing offers, and answering surveys. Each task rewards you with points you can use to redeem BTC, other available cryptos like DOT and Elrond, or straight-up cash. Inviting as many friends as possible racks up points quickly.
We offer you a wide array of crypto coins to choose from. Enter the crypto market with a diverse portfolio at zero cost and zero risk to you. You are only a few clicks away from having BTC deposited directly into your Coinbase wallet.
Beware of Crypto Scams
Cryptocurrencies are risky and highly volatile investments. While there is great potential for big wins, there are also high chances of enormous losses. The higher the rewards are, the greater the risks you’ll have to take.
It is no wonder how suspicious-looking websites promising free BTC for nothing can seem doubly appealing. We understand the draw these websites hold. However, clicking on these scam websites will only waste your time. Worse, you might get subjected to cyber-attacks and even possible identity theft.
Always think before you click. Be careful when it comes to transacting with scam sites.
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