How To Earn Bitcoin For Free: 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 using a cryptocurrency exchange to buy Bitcoin online with fiat currency. 

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 to make money. Each method has been tried and tested by us and is available to anyone with a mobile phone and internet connection. 

How To Get Bitcoins For Free

Here are a six ways to earn Bitcoins for free (without mining):

  1. Bitcoin Cashback App (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)

This post contains affiliate links with our partners who may compensate us. However, this does not influence our review process or rating system. Read our disclaimer for further information.

Fast Way To Get Bitcoin

Bitcoin can be purchased in small fractions of the full amount using a variety of methods. The most popular ways to get Bitcoins quickly are:

Use a Crypto Exchange

Cryptocurrency exchanges are online websites or trading apps that require an internet connection to allow people to deposit local fiat currency and swap for digital currencies such as Bitcoin. These platforms are highly regulated and generally safe for investors to deposit funds once their identity has been verified. Some of the most popular trading exchanges are websites like Coinbase, Binance and Crypto.com.

Receive Bitcoins From Friends Or Family

A popular method is to pay with cash in hand with a trusted friend or family member who is willing to sell their Bitcoin. While this method is not as common, there is no requirement to create an account with an exchange and complete identity verification. 

Cash In A Gift Card

Peer to peer exchanges such as Paxful connect willing buyers and sellers from all over the world. The platform is one of the few that accept Bitcoin payments using pre-paid cards, iTunes vouchers, Amazon gift cards and many others. Gift cards can be used to buy digital currencies such as Bitcoin, however the fees can be slightly higher than traditional payment options using an exchange.

Best Ways To Get Free Bitcoins

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.

Method

Suited For

Difficulty

Profitability

Bitcoin cashback app

Beginners

Low

Low

Bitcoin savings account

Investors

Low

High

Learn about crypto

Beginners

Medium

Low

Surveys & polls

Enthusiasts

Medium

Medium

Referral & affiliate programs

Enthusiasts

Medium

Medium

Trading Bitcoin

Professionals

High

Depends on skill level

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 app

Download the Lolli App and earn Bitcoins online. 

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 Store

Cashback %

Walmart

Up to 3.5%

Macy's

Up to 5%

Booking.com

Up to 3.5%

Nike

Up to 3%

Adidas

Up to 7%

Sephora

Up 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.

lolli rewards

Bitcoin Interest Account

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 that are widely known include:

Some crypto lending providers offer interest rates up to 12% per year which is significantly higher than interest rates offered by traditional financial institutions and banks on fiat currency. 

GET $50 FREE IN BITCOIN. OFFER ENDS 31ST DECEMBER, 2020

nexo website

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. 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. 

Asset

Interest Rate

Bitcoin

4.9% per year

Ethereum

3.6% per year

Litecoin

3.8% per year

GUSD

8.6% per year

USDC

8.6% 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.

Visit the BlockFi website to see how much you can earn.

blockfi interest

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 coinbase earn works

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.

Cryptocurrency

Earn Amount

Filecoin

$6

Band Protocol (BAND)

$43

Compound (COMP)

$59

Stella Lumens (XLM)

$50

Algorand

$6

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 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.

crypto 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.

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.

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 margin up to 100:1 to speculate on digital currencies to increase their Bitcoin account size. Two of the most popular exchanges to trade with margin are:

bybit interface

Trading 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

Can I Get Bitcoin Without Money?

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 

Which Apps Gives Free Bitcoin?

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.

Like this post? Don’t forget to share it!

You Might Also Be Interested In:

Default image
Kevin
Kevin is the founder of hedgewithcrypto and is passionate about blockchain technology. He has been involved with Bitcoin since 2016 after discovering it's potential as an alternative to fiat currency. He is also a trader with over 8 years of experience and is now trading crypto using various platforms. Now, he is focussed on helping others learn about cryptocurrencies via hedgewithcrypto.