What would you do if someone, out of the blue, offered you a free Bitcoin? Would you turn down the suspicious proposal or give in to temptation?
We’ve all heard those urban legends about free crypto and maybe even secretly googled easy ways to earn Bitcoin. But do they actually work? Although everyone loves a freebie, the idea of a free lunch seems fishy.
That’s why we decided to go on a mission: make some ‘easy’ earnings, get those free Bitcoins and tell you how it went.
But earning free Bitcoins was not the only goal: we were dedicated to be rational or at least have some fun meanwhile. After all, if you invest your free time earning Bitcoins online you might as well enjoy it. Otherwise, what’s the point?
We spent a week in total chasing all kinds of crypto fortune and although the earnings didn’t come easily, we’ve managed to raise some free crypto.
The Hidden World of Bitcoin Faucets
You’ve probably heard of Bitcoin faucets. They are those dodgy-looking apps or websites that promise you small rewards for completing simple tasks. These tasks usually consist of solving captchas, watching random videos, playing games, installing apps, or answering surveys. At first thought, it sounds like our regular evening anyway, so why not earn free Bitcoin as well, right?
What we tend to forget is the following: the moment we start using our free time to earn money it stops being free.
Free Bitcoin App
- Bitcoins earned: 0.00001180 BTC, couldn’t withdraw
- Time spent: ~5 hours
- Withdrawal limit: 10.000 satoshi, weekly
- After-taste: happy to delete the app
First of all, Free Bitcoin quires you to register with a Coinbase email address. This means that if you are patient or stubborn enough to earn some free Bitcoins, you will be able to send it to your Coinbase account only. Unless you’re a big fan of this exchange, we don’t see any reasons why you should agree to that.
The faucet prizes are literally bite size: you can claim your free Bitcoin every hour, we rolled the dice three times and each time there was a 2 satoshi ‘prize’ outcome. A little might go a long way but that deal is clearly unreasonable!
Apart from the faucet, you can complete tasks to earn Bitcoin. There are a couple of survey services that usually look for very specific responders or you can install game apps and grab your rewards by reaching a certain level. On average, you would spend more than 5 hours of interrupted gameplay in exchange for around 1500 Satoshi. Another huge red flag is that all these game apps demand access to your photo gallery, messages, and phone calls.
Bitcoin App was not the only app that we tried, we just used it as an example. The majority of Bitcoin faucets are constructed the same way: you have to spend hours, weeks, or even months of your life chasing a ridiculously small amount of crypto. The wins are really small and the withdrawal limits are pretty high.
Our conclusion is that most Bitcoin faucets are simply not worth it!
But if you’re still willing to give Bitcoin faucets a try, there’s one platform that stands out.
- Bitcoins earned: 0.001013 BTC
- Time spent: roughly one workweek, ~ 3 to 4 hours per day
- Withdrawal limit: for Bitcoin withdrawals 100.000 coins with 10,000 coins = $1, once per week
- After-taste: the only tolerable Bitcoin faucet we tried out
The interface and overall user experience of Cointiply are positively different from what we’ve seen before. The registration process is pretty standard and it took us less than a minute: you need to provide your email and solve a captcha. Later on, they will email you promo codes and tips on how to earn free crypto like a pro.
Rolling the faucet, we didn’t win that much: from 2 to 15 coins on the average, and you can do it two times per day.
Now, their survey section is where you can raise your seed capital for future Bitcoin gambling. Theorem Reach seems to be the best survey provider, however, you might not always fit their survey criteria.
Watching videos and ads is not fun and we’re not sure if free Bitcoin can compensate for the time you put into it.
And the most controversial part about Cointiplay is their Multiplier: an easy playful way to multiply your free coins. Speaking of UX, the background music that they use is surprisingly pleasant and soothing. To be honest, the Multiplier is pretty addictive and you risk losing all your hard-earned funds (we fell into that trap at least twice), so remember to stay vigilant.
You can withdraw your funds after your earnings have reached 100.000 coins and the good news is that you can do this directly from your wallet account. However, if you don’t have a wallet yet, the website offers you to sign up for a… what do you think? A Coinbase account, of course!
Don’t do it though, don’t keep your money on exchanges! If you want to be the only owner of your crypto, use Lumi Wallet instead.
- Crypto earned: $10 worth of BAT, $10 worth of EOS, $10 worth of XLM, $20 worth of Dai
- Time spent: ~1,5 hours
- Withdrawal limit: no limits, withdraw directly to your Coinbase account
- After-taste: pretty cool way to earn a few extra tokens if you’re eligible for earning
Speaking of exchanges and Coinbase in particular. Apart from sponsoring a huge deal of free Bitcon websites the above mentioned exchange has launched its very own platform for earning crypto. You won’t get any Bitcoin deals there, but can earn a decent amount of other tokens or coins like DAI, BAT, EOS, or XLM.
Instead of watching sketchy ads, Coinbase offers you to watch educational videos about the crypto you’re about to earn. Basically, they want to enlighten crypto newcomers and reward them for their efforts. Each video ends up with a quiz and if you’ve been paying attention while watching you shouldn’t have any problems answering.
Apart from the necessity to transfer your funds to your private wallet, there is another downside to it that we’ve noticed. Coinbase Earn is available only for the Tier 1 countries, excluding NY citizens and pretty much the rest of the world.
Airdrops and giveaways can be a fresh alternative if you are not ready to invest a significant amount of time in exchange for a few free Bitcoins. The airdrop earnings are not necessarily grandiose but to be fair you don’t need to invest much into it either. Usually, all you need to do is follow the project on social media and make a repost. The complexity of the task depends mainly on the value of the prize.
There is a huge amount of giveaways and airdrops going on on a daily basis so the trick is to pick the relevant ones. And that’s where you can use the help of CoinDreams, our longtime friend and partner. Coindreams is an app that lists all the best offers and sums up what you have to do step-by-step in order to get to the finish line. This makes the whole crypto earnings process a lot easier.
Although free Bitcoin airdrops are not quite common, you can make other crypto earnings. Crypto games regularly give away free stuff from game items to rare collectibles that you can then easily sell on OpenSea or other crypto auctions.
Together with our gaming partners, we hosted a number of giveaways. Just to give you a hint on how much you can earn, here are the rough numbers.
- Legendary 0xUniverse planet: ~ 11 ETH
- Custom Blockchain Cutie: ~ 0,8 ETH
- CryptoSkull: from 0,1 ETH
- CryptantCrab: from 0,3 ETH
Another option is to level up some of your game characters and sell them for a much higher price.
Bitcoin Giveaway by Lumi Wallet
As we have previously mentioned, free Bitcoin giveaways are quite rare which is a shame. That’s why we made up our mind to step up and host a free Bitcoin giveaway ourselves.
Recently we have added an awesome feature in Lumi Wallet – you can now buy crypto (Bitcoin and Ethereum) directly in our app or the web version using your credit card. And starting from October our users will get a chance to get Bitcoin rewards for their purchases.
So roll up your sleeves and prepare for the big Bitcoin earnings! We will reveal more info soon.
The Bottom Line
As expected, most of the platforms that offer free Bitcoin earnings are not exactly profitable and the entire process is slow and usually extremely boring. Some of the platforms offer better user experience and you can have fun while earning a few extra satoshi.
Giveaways and airdrops are the easiest way to raise some crypto and platforms like Coindreams can help you find the best offers on the market.
Stay tuned for more info on our upcoming Bitcoin giveaway and use your free time wisely!