Surely you guessed I was going to talk about bitcoin at some stage in this ‘Ways to make Money Online’ series. Where else can you get free money for just showing up?
And I’ll be the first to admit bitcoin is a little confusing at first but once you realise you can buy a lot of stuff with your free bitcoin you’ll wonder why you ever left home with out it.
Some say it’s not money, others say it’s a SCAM, and in the meantime millions of dollars traverse the bitcoin network everyday. It’s real.
When you define money as ‘A medium that can be exchanged for goods and services and is used as a measure of their values on the market’ they yes bitcoin is money.
But I’m not here to educate you on bitcoin, I’m here to show you how to get free money from a bitcoin faucet.
Let’s roll the video…
So there you have it. An easy way to get free bitcoin from a bitcoin faucet, but let’s go a little deeper shall we?
What is Bitcoin?
Bitcoin is a form of digital currency, created and held electronically. No one controls it. Bitcoins aren’t printed, like dollars or euros – they’re produced by people, and increasingly businesses, running computers all around the world, using software that solves mathematical problems.
You can find more information on bitcoin here – https://www.weusecoins.com/
What is a Unit of Bitcoin?
The international symbol for bitcoin is BTC. The smallest unit of bitcoin is a satoshi which is a hundreth of a millionth BTC.
It looks like this – 0.00000001 BTC
At the time of publishing $1USD = 297,451 satoshi
Bitcoin Converter – http://www.btcsatoshi.com/
How to Get a Bitcoin Wallet
Like traditional money, bitcoin needs to be stored in a wallet, however as it’s a digital currency it needs to be stored in a digital wallet.
There are many types of digital wallets available but the easiest is either on your phone or online.
Here’s a few places you can get an online wallet
Alternatively have in a look in your phones app store to download a bitcoin wallet to your phone.
And when you’re ready you can take responsibility for your own money you can create a wallet on your PC.
How to Get Free Money from a Bitcoin Faucet
Ok, enough with the preamble and on with the main show.
Given bitcoin is still relatively new, people who are passionate about the future of the bitcoin digital currency are preapred to give small amounts away to ensure bitcoin is circulated to as many people as they can. They do this through bitcoin faucets or through ‘tipping’ on twitter.
More recently, advertising pays for the drips of satoshi’s that are given away for free, but it’s free bitcoin so why wouldn’t you collect it.
Essentially you find a bitcoin faucet, enter in your public wallet address and click ‘get reward’. It’s that easy. Watch the video.
Here’s a payout I recieved from a bitcoin faucet called moonbit – http://moonbit.co.in/?ref=b1e9202076b4
But these payouts will grow the more I use their bitcoin faucet due to the daily loyalty bonus and mystery bonus and if you click on the link above I’ll also get a refferal bonus, sweet!
Here’s how the loyalty bonus works
Now this bitcoin faucet only pays out weekly so keep collecting throughout the week and expect a payment over the weekend.
NB: You can collect free bitcoin from this faucet every 5 minutes, but it accumates over time so once every few hours is a better approach.
Here’s my payout after one day of collecting.
Of course there are other bitcoin faucets on the Internet, so you just need to do a Google Search to find them.
But here’s another low fuss bitoin faucet where you can get free money.
Where can I spend Bitcoin?
Once you’ve collected your bitcoin you can save them and let them grow in value or just spend them at various sites around the Internet. You can even by airline tickets if you collect enough.
If you want to spend your bitcoins then search through the 100,000+ merchants that currently accept bitcoin.
This website is a great place to start – http://spendbitcoins.com/
Now you might still not fully understand bitcoin from this brief introduction, but I’d still follow the video, create a digital wallet and start collecting bitcoin and then work out what you are going to do with them later.
I’m impressed how easy it is to collect free bitcoin which is essentially like getting free money. It pays a similar amount to the paid to click websites and yet you don’t need to hand over any personal information and don’t need to wait until you reach a threshold until you get paid.
However, it’s a very small amount and will take time to collect. You just need an internet connection and a phone or PC to start collecting today.
If you wanted to know how to make money for kids then this is a great place to start teaching kids about money of the future.
Earning Potential: 1-MONEYBAG
Time Required: 15 mins