What is a Bitcoin?
By using the term Bitcoin, we are talking about a digital currency which is used for paying different types of goods as well as services. It functions in a similar manner as paper money although these two are not the same in some respects. Bitcoin is virtual money or also known as cryptocurrency. While some physical forms of Bitcoin do exist; however, the primary form of this currency is data which means that you can trade it peer-to-peer, using an online service or even wallet software. Bitcoins can be obtained through data mining or by trading other money, services, and goods with individuals or companies who have them. In the mining procedure you have to run a program which performs complicated mathematical equations and for this, you are going to be rewarded a small part of 1 Bitcoin. Once you have a portion of the currency, it can be utilized for purchasing anything that will accept it. There are both traditional and online vendors who now take Bitcoin as currency including Amazon. To learn more about this amazing new form of currency read and bookmark this website. One day in the future Bitcoin may be on of the major type of payment which is going to be accepted by the masses – especially as we become one global planet.
How Do I Get Bitcoins?
Here is a list of ways
Fortunately, there are many alternate solutions for all those who have no intention of buying Bitcoins with cash – they can use various tools for accumulating an entire Bitcoin and we will go into some detail and explain some essential guidelines on how to get a Bitcoin for free.
Since the cost of a Bitcoin currently is more than $2000 USD, it is feasible to divide it into very small fractions. These are termed as satoshis and each one of them is less than 1 millionth of a dollar at present. Hence, it is regarded as an ideal solution for micropayments. In fact, this concept has been utilized by a service known as ChangeTip which happens to be Reddit-based.
This particular method of tipping functions quite differently from the other ways of getting Bitcoins for free. The logic that works here is that you need to submit some content and it is up to the users to decide whether they find it to be useful for their interests. In case they like your content, they will decide how much they would like to pay you. Most of these tips are quite nominal although some tippers are quite generous and they are even known to spend several dollars. This tipping system has been criticized by numerous individuals and many of them believe that it is rather offensive to send somebody only a couple of cents. On the contrary, you can always enjoy the fun of utilizing “monikers” (names used in place of specific amounts of coins), whenever you receive a tip in the form of coffees, donuts, martinis or lunches.
2. Performing small tasks or visiting websites
One more solution of receiving Bitcoins would be to visit any site which is Bitcoin-related or by performing some small jobs online. You will be provided with this opportunity from quite a few websites so that you are able to earn several free microBitcoins. For instance, you might go to FaucetBTC or BitVisitor. You might be paid anything for simply visiting a web page or doing surveys or playing games while staying on the pages for quite some time. It is possible to do the surveys on BitcoinGet and BitcoinReward.
3. How to get Bitcoins fast with Faucets?
The term “faucet” happens to be a well-known word in the Bitcoin community. They function in the same manner as mentioned above and you can earn free Bitcoins with a pre-ascertained regularly, for instance, every 10 minutes or maybe every day. Different types of activities are provided by these websites and the users will get paid for it.
While a fixed amount of coins are provided by a few faucets others will offer satoshis within a specific range. For instance, FreeBitco.in provides payments in between approximately 300 satoshis to 0.3 BTC. However, you have the opportunity to win a whole Bitcoin on Crococoin. Almost all these websites provide you with videos, pages as well as games.
In the crypto community, an essential part of any reputed dice website happens to be a faucet. You will be receiving a very small fraction of BTC on websites such as DiceCoin.in every five minutes provided that your balance is nil. The similar principle works on PrimeDice; however, the amounts are much smaller – 0.000002 BTC. Nevertheless, it is possible to multiply the coins by making small bets.
4. Gambling: the risky method
We all believe that Bitcoin happens to be ideal for gambling. Firstly, it will enable you to make small bets which are definitely welcome while you’re playing for enjoyment or maybe as a hobby. As mentioned before, a Bitcoin is highly divisible and this is one of its strongest parts. It is not possible to deposit 1 cent in a particular casino and begin to gamble with it; however, one can do that while playing for Bitcoin. An extremely popular gambling site for Bitcoins happens to be SatoshiDice which has been created by Erik Voorhees. This site has become very popular since it is possible to play even without using this site; all you need will be to send the transaction to a specific address and then wait to see whether you have succeeded in winning anything or not. Quite a few casino sites, poker sites, slots and so on are also at your service. Although most of them provide faucets, you need to comprehend how to obtain free Bitcoins fast all by yourself. You can just follow your own intuition or you might even apply your own technique. It is imperative to be cautious despite the fact that you might be an experienced gambler and also you should not bet in excess of what you can allow losing.
5. Obtaining Bitcoins by trading
A successful way to begin running a crypto-fortune is trading. It is almost the same as gambling in some respects particularly when it comes to cryptocurrencies where the price of any coin can change instantaneously. Nevertheless, trading happens to be almost like science with its tools, methods, and strategies. In fact, a lot of individuals regard trading as their primary activity which enables them to earn good money for their families.
It is essential to follow cryptocurrency news and keeping track of the price trends of Bitcoins, in case you’d like to gain some knowledge on how to get Bitcoins for free. Typically, an initial capital might be required to commence receiving Bitcoins through trading; however, it is often a better method as compared to earning Satoshis using some other methods.
If you are interested in trading for Bitcoins, we cover it a bit more in the next section.
Thus it is evident from the above-mentioned facts that there are multiple ways to obtain Bitcoins for free and you need to be extremely careful since it could be a complicated process and this is going to depend to a great extent on the place where you reside. Nevertheless, since the digital currencies are gaining immense popularity these days and an increasing number of purchasing options are being added to the present roster, it is expected that the process is going to become simpler in near future.
How to Trade Bitcoin?
To trade for Bitcoins or other cryptocurrencies you need to create an account at a trading exchange that specializes in buying and selling of cryptocurrencies. A recommended exchange is GDAX which is open 24 hours a day.
To start you will be adding money to your account. A major platform is Coinbase. They will verify your ID first since there is no sovereignty in cryptocurrency – no nation is behind it. Once your ID is confirmed you are allowed to create an account and fund your account from your normal banking accounts. From Coinbase you can create virtual ‘wallets’.
Wallets are very important since they operate like physical wallets that that’s where you store your Bitcoins. If you lose your wallet or your password to your Bitcoin wallet you will lose all you bitcoins.
Once your Bitcoin wallet is funded you can then go to the exchange like GDAX and buy/sell more bitcoins using your real world cash. GDAX does not charge a fee to transfer funds in and out of their platform but does place limits.
Looking for more info and help with buying/selling Bitcoin? Fill out the form and received our FREE “Bitcoin 101” E-Book.
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