How To Earn Free Bitcoin: 6 Proven Methods

Updated: Dec 11th, 2021
Kevin Groves
Kevin Groves
How To Earn Free Bitcoin: 6 Proven Methods

Bitcoin is becoming a popular choice of investment for people (and even companies) around the world. It is no surprise that people are looking for ways to get Bitcoin fast. However, not everyone can afford to buy Bitcoins due to their financial situation. In this guide, we will show you how to earn Bitcoins for free. Each method has been tried and tested by our team and available to anyone with a mobile phone and internet connection. 

Best Ways To Get Free Bitcoins

Based on our opinion, these are the best ways to earn free Bitcoin without mining:

  1. Bitcoin Cashback Apps (earn Bitcoins with online purchases)
  2. Bitcoin Savings Account (earn interest on Bitcoin deposits)
  3. Learn About Crypto (learn about new projects to earn rewards)
  4. Surveys and Polls (sell information for crypto)
  5. Referral & Affiliate Programs (promote and receive bonuses)
  6. Cryptocurrency Trading (speculate by trading the market)

Comparison of Ways to Get Bitcoin For Free

Finding the best ways to earn Bitcoin or cryptocurrency online depends on a few different factors such as difficulty, time commitment and profitability potential. We have ranked each method based on the difficulty for beginners to make money online with Bitcoin.

MethodBest Suited ForDifficultyProfitability
Bitcoin cashback appBeginnersLowLow
Bitcoin savings accountBeginnersLowHIgh
Learn about cryptoBeginnersMediumLow
Surveys & pollsEnthusiastsMediumMedium
Referral & affiliate programsEthusiastsMediumHigh
Trading BitcoinIntermediatesHighDepends on skill

Obtaining Free Bitcoins: Explained

1. Bitcoin Cashback Apps

One of the easiest ways to get free Bitcoin is using a cashback loyalty app. These are loyalty programs that allow its users to earn a small commission when they shop at an online merchant or vendor that supports the cashback program. Two of the most popular Bitcoin Cash Back & Rewards Apps are:

Bitcoin rewards apps are free to download and there is no cost to sign up and create an account. Shoppers will need to install a Chrome extension on their internet browser to begin earning Bitcoin rebates with their online shopping purchases. There is no effort or risk involved and anyone can do it. 

lolli websitelolli website

Bitcoin cashback reward apps work by paying out a small percentage of the sale amount to the shopper's Bitcoin wallet. The percentage amount does depend on the retailer and there can be a waiting period of up to 90 days. Bitcoin reward apps such as Lolli provide access to thousands of online shopping deals and discounts from popular online stores around the world as shown below.

Online StoreBitcoin Cashback Percentage
WalmartUp to 3.5%
Macy'sUp to 5%
Booking.comUp to 3.5%
NikeUp to 3%
AdidasUp to 7%
SephoraUp to 4.5%

Once the app is installed on Chrome and the user visits a supported online retailer, a pop-up will automatically appear with the rebate percentage. When a purchase is made, the user's account will be credited with Bitcoins once the refund period has expired.

The free Bitcoins can then be withdrawn to a Bitcoin wallet for safekeeping. Below is an example of a Lolli account that has accrued 0.0054 free Bitcoins, the equivalent of USD $96 at current prices for buying a few items online.

2. Bitcoin Interest & Savings Accounts

One of the most popular ways to earn money online is using digital currency savings account. These services allow you to earn interest on crypto in a way that is similar to share dividends. Bitcoin savings account are a perfect option for investors that are looking to grow a long term return their Bitcoin investment without committing any time or effort. The most popular Bitcoin interest accounts include BlockFi, Nexo and Celsius Network.

Exchangeavailable Coinsinterest RateratingPromotionWebsiteReview
blockfi logo

BlockFi

5+Up to 8.6% APY
Overall 4.9/5StarStarStarStarEmpty Star
Up to $250 Bonus in BTCVisit BlockFiBlockFi Review
Crypto.com Logo

Crypto.com

25+Up to 12% P.A
Overall 4.5/5StarStarStarStarEmpty Star
None available at this timeVisit Crypto.comCrypto.com Review
nexo logo

Nexo

8+Up to 12% P.A
Overall 4.4/5StarStarStarStarEmpty Star
None available at this timeVisit NexoNexo Review
HodlnautHodlnaut

Hodlnaut

5Up to 12.73% APY
Overall 4.1/5StarStarStarStarEmpty Star
None available at this timeVisit HodlnautHodlnaut Review

Some crypto lending providers offer interest rates up to 12% APY which is significantly higher than interest rates offered by traditional financial institutions and banks on fiat currency. Essentially, these digital lending platforms enable borrowers and lenders to exchange money between each other to receive either a crypto-backed loan (paid in fiat currency) or create a high interest savings account to store crypto assets. To learn more about DeFi and how it works, read this article.

blockfi websiteblockfi website

The interest accrued within a interest savings account on platforms such as BlockFi (rates are shown below) are paid on a daily basis which allows the Bitcoin interest to compound and grows rapidly.

Users that create an account will need to complete a KYC process to verify their identity which is standard practice for companies that offer financial services that Bitcoin investors should be familiar with already.

AssetInterest Rate APY
Bitcoin4.9% per year
Ethereum3.6% per year
Litecoin3.8% per year
GUSD8.6% per year
USDC8.6% per year

Below is an example of a new BlockFi account with 0.37 Bitcoin and 1.85 Ethereum deposited. In the last 2 months, this account has earned $54.08 in free interest. This may seem like a small amount, but with compound interest applied the account balance will increase from $7,657 to approximately $9,612 in the next 48 months by storing the funds in the interest account.

blockfi interestblockfi interest

3. Learn About Crypto

Earning free cryptocurrency can be accessible to anyone with a Coinbase account. The exchange offers an educational program that pays rewards for learning about blockchain projects. The reward amount does vary depending on the specific coin. The amount received in crypto for each quiz that is completed can be converted into Bitcoin using Coinbase Pro.

how does coinbase earn workhow does coinbase earn work

Any eligible Coinbase user can participate in Coinbase earn to view educational content for the supported cryptocurrency coins on the website. To earn more than $500 in free cryptocurrency, participants will need to: 

  • Watch educational videos on the selected coin
  • Pass the multiple-choice quiz at the end
  • Receive cryptocurrency in Coinbase wallet

The selection of cryptocurrencies offered does change and is for a limited time only. Overall, for beginners in the cryptocurrency space, Coinbase Earn is a simple and easy way to earn a few hundred dollars for learning about a blockchain project.

CryptocurrencyEarn Amount
Filecoin$6
Band Protocol (BAND)$43
Compound (COMP)$59
Stella Lumens (XLM)$50
Algorand$6

4. Complete Polls & Surveys

Consumer's information is being collected each day online and being sold to 3rd party organisations for a profit. Decentralized data exchange networks such as INSTARS allows everyday individuals to earn free cryptocurrency by selling their data and feedback on consent.

instars featuresinstars features

Users can earn popular cryptocurrencies like INSTAR, EOS, and DAI by engaging with the platform by participating in the following activities. These tokens can be staked on the platform to earn additional rewards or transferred to a trading exchange for Bitcoin.

  • Registration bonus for verifying a new account
  • Capture a photograph of shopping receipts
  • Completing surveys and polls
  • Learning about cryptocurrency and blockchain projects
  • Sharing with a friend (or two)

A popular way to earn free Bitcoins is by completing online polls and surveys. Using the INSTARS platform, users can complete daily activities and be rewarded with EOS tokens for each task completed. The surveys are based on the information provided in the user's profile.

instars pollsinstars polls

Users can also upload a receipt of goods or service purchases with a feedback of the experience to get free crypto. Each person can upload up to three receipts per day and must clearly show the business name, address, date, the transaction number and total amount. Once the image and description of the experience with a rating are reviewed, their wallet will be deposited with EOS tokens.

5. Referral & Affiliate Marketing

Individuals can promote cryptocurrency products through word of mouth to friends and family to earn a small bonus. Companies are willing to reward the new business with a registration bonus for referring new customers. Anyone can participate in these referral programs using a special promotion code or referral link to generate additional income. One of the most popular crypto referral programs is Coinbase which rewards $10 USD for each new customer that trades the exchange.

How it works:

  1. Visit the website and create an account with Coinbase
  2. Copy the referral link or send an invite email to a friend.
  3. Get paid $10USD when referred user creates an account trades more than $100 USD in fiat

Individuals with a social media account or website with a following can participate in exchange affiliate programs to earn free digital currency. Using the same example, Coinbase Affiliates will reward its users with 50% of referred customers trading fees for the first 3 months. The higher the number of affiliate accounts, the greater the potential for recurring revenue.

6. Trade Bitcoin Using An Exchange

Trading Bitcoin using a cryptocurrency platform can be a profitable experience for skilled and experienced traders to earn more Bitcoin. A trader can turn a small amount of money into a large sum in a relatively short period of time.

This method involves using an exchange where a user can deposit their Bitcoin and use it as collateral to trade against other currencies. Cryptocurrency derivatives are a popular choice as the trader can use leverage up to 100:1 to speculate on digital currencies by longing or shorting Bitcoin. Two of the most popular exchanges to trade with margin are Bybit, FTX and eToro.

trading on bybittrading on bybit

rading comes with considerable risk and this method is suitable for advanced traders only. There is little luck involved and a new trader can lose more than the capital deposited into a trading account. Beginners that decide to trade should consider buying a trading course and following these Bitcoin trading tips to become profitable:

  • Adopt a simple and easy to follow trading strategy
  • Reduce position size and leverage
  • Be patient and don't force trades
  • Keep a journal of each trade and improve

There are several reputable platforms that offer a demo account to practise trading with fake money such as eToro and Plus500. Using a simulated trading account that follows the actual Bitcoin prices in the live market is a great way to learn how to trade and even copy-trade successful traders.

Frequently Asked Questions

Individuals can get started with Bitcoin without money and leaving a hole in the bank account. A few simple ways to start earning Bitcoin include:

  • Getting paid in Bitcoin for small tasks
  • Selling goods and services in exchange for Bitcoin
  • Completing online surveys/polls that pays in Bitcoin
  • Publishing content with platforms such as Steemit that pays for engaging articles 

There are several cryptocurrency apps that pay out free Bitcoins. A popular mobile app to earn free Bitcoin is the Lolli App which is a loyalty program that rewards online shoppers with a small rebate in BTC with purchases at supported merchants. The earned Bitcoin can then be transferred to a Bitcoin hardware wallet.

Conclusion

To conclude our guide on how to get Bitcoin online, we hope that it is now obvious that you don't need to use fiat currency to buy Bitcoin. There are alternative methods to obtain Bitcoin for free without spending money as an investment. Just remember to keep your new Bitcoin safe using a reputable and trusted Bitcoin hardware wallet and keep stacking sats.

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Kevin GrovesKevin GrovesKevin Groves

Kevin is the founder and chief editor at HedgewithCrypto that he started in 2019 which has reached over 1.5 million visitors worldwide. He is passionate about cryptocurrency as an emerging technology and is heavily involved in the fast-growing fintech space. An experienced trader growing his portfolio since 2016, he has a strong understanding of investing in the crypto market using exchanges, brokers and derivatives platforms.

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