Free Bitcoins: Legit or Scam?

By Rushali Shome

There is no such thing as free lunch, they say. Then are free Bitcoins scam or legit? Let’s find out.

It is easy to be tempted when you are offered Bitcoins for free. Even at their bearish low, Bitcoins cost roughly around $3500 each. That means even getting 0.1 BTC without spending a dime can land you something around $350.

That sounds exciting for sure but how do you make sure that you are do not end up all caught up in a scamster’s trap? Well, you do so by steering clear of the suspicious free Bitcoin schemes.

How do you identify those? By following the basic outline we provide to you here.

Legitimate Free Bitcoin Schemes

First, let us begin on an optimistic note as we tell you that it is occasionally possible to earn some free Bitcoin (BTC) without spending anything out of your own pocket.

However, this does not mean that someone will give you free BTC out of the sheer goodness of their heart. They will only pay you Bitcoins for free if you serve some purpose for them. Let’s find out how:

You May Also Read: How To Sell Your Bitcoins?

1. Online Games

Often times you will see online gaming platforms offer you some small amounts of Bitcoin as payment as and when you clear a number of levels or win points.

The rationale behind this is that the longer you spend on their platform, driven by the prospect of winning and earning, the more they can show you ads that they earn some ad revenue from.

Now, these platforms will usually be absolutely cluttered with a
ds and the platform provider will give you a tiny portion of the ad revenue they make.

2. Bitcoin Faucets

Some websites, to attract users to stay on their site, drip miniscule amounts of Bitcoin every few minutes or over a small period of time.

If you spend enough time on these Bitcoin faucets, you can make a few dollars worth of Bitcoins as the websites use this as a promotional feature to attract you.

3. Affiliate or Referral Programs

Sometimes, by recommending a service to a friend or acquaintance by means of your referral code. Similarly, if you sign up for a service by means of an affiliate link, you can earn some free Bitcoins.

For example, in the Coinbase exchange, you can earn about 10 dollars worth of Bitcoins if you sign up via an affiliate link.

You May Also Read: How to Convert Bitcoins to Cash Anonymously?

4. Ask for Donations

Often Redditors go online and ask the crypto community for Bitcoin donations.

Even receiving small amounts that way can lead you to earn some Bitcoins.

Free Bitcoin Scams

You can identify a Bitcoin scam when they ask you to first transfer some money before they send y areou Bitcoins. In such a case, you can conclude, with almost 100% guarantee, these are scams.

Online gambling sites that offer free Bitcoins are not necessarily always scams. They operate pretty much like ordinary gambling sites. You may have a slim chance of earning some free Bitcoins but there is little guarantee.

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Rushali Shome

Rushali Shome is a history undergraduate with a keen interest in puns, politics and beyond. When not typing away furiously in the “Notes” section of her phone, she can be found trying to catch the eye of servers at restaurants or weddings for a second helping.

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