Is There Such A Thing As Free Bitcoin?

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Is There Such A Thing As Free Bitcoin
Blockonomics is a decentralized and permissionless bitcoin payment solution

We know everyone wants to know how to get Bitcoin for free. Nevertheless, this is not an easy task to do. In fact, there can be no such thing as “free Bitcoin,” because there is no such thing as “free money.”

Bitcoin is another asset compared to devaluing fiat currencies. It goes against them. While governments and central banks are printing money out of thin air, Bitcoin is becoming their opposite. A person who understands Bitcoin would know that there is no way to get free Bitcoin.

In addition, Bitcoin works on top of a consensus algorithm called “Proof-of-Work”, which shows that there is an economic activity that enables the creation of new BTC. Miners are responsible for generating new coins.

Do miners know how to get a Bitcoin for free?

Not really. They run very powerful computers (called ASIC miners) to process and confirm transactions. Their job is to keep the network secure, and they do it very well. Bitcoin has never been attacked 51%. This means that the decentralized network of miners worked very well against any attacks on the network.

In addition, miners have to pay for electricity bills, internet connection, a place to work, and employees. This does not count the initial investment and ongoing remuneration of ASIC miners. This shows that Bitcoin is not free and cannot be generated for free.

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Earn Free Bitcoins Instantly

Let’s put it this way. If there was a method to earn Bitcoin for free, then why would Bitcoin have any value? Valuable things are not generated for free. If you are looking for the answer to how to get free Bitcoin fast, we are sorry to tell you that there is no such thing.

Governments print money and give it away for free. This is actually called helicopter money or the printing press going Brrrrrr. This lack of limits placed by central banks on money printing has generated strong demand for BTC and other assets. Including the stock market.

As you can see, the stock market continues to expand despite the current COVID-19 pandemic that continues to affect the lives of millions of individuals around the world. The effects of the large amounts of printing over the past year could be seen as soon as things opened up again. We are talking about higher inflation.

Bitcoin is programmed to have falling inflation over time. Thus, the value of Bitcoin is definitely different. There is no such thing as free Bitcoin.

How do I earn Bitcoin Free?

But there are still some ways not to get Bitcoin for free but to earn Bitcoin for doing certain tasks. These tasks vary in difficulty. Each of them would be suitable for different users. Let’s go into what ways we have on how to get a bitcoin for free.

Crypto Mining

That was how Bitcoin (BTC) enthusiasts used to get free Bitcoin. At that time, the answer to how to get free Bitcoin was really simple to answer. We’re talking about the time when processors were still an efficient way to mine Bitcoin.

Users can be rewarded with 50 BTC every time they find a block. It was massive at the time. Since there were no mature and large markets for Bitcoin, these BTC were certainly not as valuable as they are today.

In fact, Bitcoin’s price moved from just a few cents to over $60,000 in March 2021. Nowadays, things look different. Miners now receive 6.25 BTC per block (one every ten minutes) and the transaction fees paid by users.

Also, buying the necessary equipment to mine Bitcoin mining is very expensive. To be profitable, it is also very important to work on a large scale and have very cheap energy. Some countries are not suitable for this purpose.

Thus, if you are looking for how to get free Bitcoin, mining can be an option. Even if you wouldn’t be buying BTC, if you have the necessary equipment to mine Bitcoin on a large scale, you can get it at a discounted price.

Using Faucets

Faucets have also been one of the most popular ways users had how to get free Bitcoin. When BTC was not so popular, faucets were the way non-Bitcoiners could access BTC.

Just by doing a few tasks, such as filling in a captcha, users can be rewarded not cents of BTC but a whole Bitcoin. If you wanted to know how to earn Bitcoin for free, this would have been the first answer a Bitcoin enthusiast would give you.

Faucets are still one of the ways to earn free Bitcoins. You will literally earn them. Today’s faucets are very easy to use. Don’t expect to get a whole coin though. In fact, you would get some satoshis.

You have to do a lot to earn the minimum withdrawal amount. Each website has a minimum withdrawal threshold that you must reach to receive your satoshis. Thus, this can be a good way for those users who don’t know how to access BTC and just want to understand how it works.

Don’t expect to earn a whole BTC with one faucet.

Cryptocurrency trading

Although this is a risky activity, many expert traders can increase their BTC holdings. Trading can be done in many different ways and with different strategies. That is why you should be very careful before you start shopping.

If your goal is to get BTC, you should not focus on the USD value of your portfolio, but you should be careful about the BTC value of the funds you have. If you have successful trades, it is possible to increase your BTC holdings without necessarily buying more BTC.

This can be one of the ways to get 1 Bitcoin for free. Still, you can lose your money along the way. A large number of investors who want to know how to get Bitcoin for free have lost money due to using leverage to increase their profits.

The crypto market is very volatile and difficult to trade.

Buy online and earn Bitcoin

You can take advantage of your daily online purchases to earn Bitcoins. How? Using a bitcoin cashback service like bitcoin back. When you buy an item from one of the trading partners that this e-commerce has, you get a reward in the form of bitcoin. All you need to do is add the Chrome extension to your browser.

Blockonomics is a decentralized and permissionless bitcoin payment solution

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