In an earlier article, I talked about the reasons why you should get a coinbase wallet and how you should register for one. Then I said I will teach you how to get your first free bitcoin into the account.
Since I’m a man of my words, I’m never going to disappoint you in anyway. Before I start telling you what to do, let me explain some few things to you.
There are many different ways through which we can acquire Bitcoin. Almost all of these ways require putting in some amount of money before getting returns. I will go ahead and list some of the ways I know below and explain how each work.
- Bitcoin Pool mining
- Faucet mining
- Bitcoin Investment
- Buy and sell
Bitcoin Pool Mining
Bitcoin pool simply put is a company that have been built up with the purpose of mining bitcoin. These companies put up servers and all the gadgets that are needed to for the mining of Bitcoin.
In most cases, small scale miners can’t get bitcoin without joining these mining pools. Even though they might have their own devices, they can’t get anything without joining the larger mining pool. With this, the more powerful your mining device is, the more Bitcoin you will get from the pool.
Faucet Mining
Bitcoin Faucets are websites that allow you to complete small tasks in return for bitcoin. While you will not be getting much compared to pool mining, this method is completely free. You will just have to solve captcha or click on ads every 5 to 30 minutes to claim your satoshi.
Bitcoin Investment
This is something new in the system and I have not tried it yet. According to a lecture I received from one of those Bitcoin investors, You will pay a certain amount of money which the company will use to trade in Bitcoin and at the end of the month, the company will give you a percentage of the profit made on the trade.
Like I said, I have never tried this method before and I completely don’t know anything about it apart from what I have already said.
Buy and Sell
This is the best part of the trade. Even though this is risky, I don’t think it is that much a risk. With people who know and like trade, they buy the Bitcoin and keep it in their account. Since they know trade and can calculate when the price will go up, they keep it and sell it when the price goes up.
The risk will be when you buy it and there is a depreciation. That is why you should know a lot about trade before you start this kind of business. If you want to do this, then Coinbase should be your best choice because that is where you can buy and sell faster without any problem.
Now that I have explained some of the ways you can get a Bitcoin, let me go to the reason why we are here.
How To Get Your First Free Bitcoin
In this particular aspect, you will have to use the Faucets since that is the only way you can get some without spending any money or taking any risk.
This method is not something that will give you an overnight success so you will have to take time with it. At first when Bitcoin was really cheap, I was able to acquire 0.1BTC with Faucet mining which is now around $650. These days the Faucets don’t pay much so it will be difficult to get something like that with Faucet mining in a very short period…. It depends on your determination tho.
Here is the link to my favorite bitcoin faucet
For opinions and suggestions, please leave a comment in the box below.