How To Earn Free Bitcoin?

If You Want to Know What is Bitcoin? What is Satoshi? How to Earn Free Bitcoin? How To Get free Bitcoin? What Is bitcoin mining? how to earn from bitcoin mining? You are at the right place.

To cut through some of the confusion encompassing bitcoin, we want to separate it into 2 parts. On the one hand, you've got bitcoin-the-token, a snip of code that represents possession of a digital conception – a form of sort of a virtual promissory note. On the opposite hand, you have bitcoin-the-protocol, a distributed network that maintains a ledger of balances of bitcoin-the-token. each is spoken as “bitcoin.”
The system permits payments to be sent between users while not passing through a central authority, like a bank or payment gateway. it's created and control electronically. Bitcoins aren’t written, like dollars or euros – they’re made by computers all around the world, using free software system.

Who created it?

Anonymous software system developer going by the name of Satoshi Nakamoto projected bitcoin in 2008, as AN electronic payment system supported a proof. the thought was to supply a way of exchange, freelance of any central authority, that would be transferred electronically in a very secure, verifiable and immutable method.To this day, no-one knows who Satoshi Nakamoto extremely is.In what ways that is it totally different from traditional currencies?Bitcoin will be used to obtain things electronically if each party are willing. in this sense, it’s like standard dollars, euros, or yen, that also are listed digitally.But it differs from order digital currencies in many vital ways:

1 – Decentralization

Bitcoin’s most vital characteristic is that it's decentralized. No single institution controls the bitcoin network. it's maintained by a bunch of volunteer coders and run by an open network of dedicated computers spread around the world. This attracts people and teams that are uncomfortable with the control that banks or government institutions have over their cash.Bitcoin solves the “double disbursal problem” of electronic currencies (in that digital assets will simply be derived and re-used) through a resourceful combination of cryptography and economic incentives. In electronic edict currencies, this operate is consummated by banks, which supplies them control over the normal system. With bitcoin, the integrity of the transactions is maintained by a distributed and open network, owned by no-one.

2 – Limited Supply 

Fiat currencies (dollars, euros, yen, etc.) have a vast offer – central banks will issue as several as they want, and may conceive to manipulate a currency’s price relative to others. Holders of the currency (and particularly citizens with a very little alternative) bear the value. With bitcoin, on the opposite hand, the provision is tightly controlled by the underlying rule. little variety of latest bitcoins trickle out every hour, and can still do thus at a decreasing rate until most of twenty-one million has been reached. This makes bitcoin additional engaging as a quality – in theory, if demand grows and also the offer remains constant, the worth can increase.

3 – Pseudonymity

While senders of traditional electronic payments are typically known (for verification functions, and to fits anti-money laundering and different legislation), users of bitcoin, in theory, operate in semi-anonymity. Since there's no central “validator,” users don't need to identify themselves once sending bitcoin to a different user. once a transaction request is submitted, the protocol checks all previous transactions to verify that the sender has the mandatory bitcoin still because the authority to send them. The system doesn't need to recognize his or her identity.

I observe every user is known by the address of his or her wallet. Transactions can, with some effort, be tracked this manner. Also, enforcement has developed strategies to spot users if necessary. Furthermore, most exchanges are needed by law to perform identity checks on their customers before they're allowed to buy or sell bitcoin, facilitating differently that bitcoin usage is tracked. Since the network is clear, the progress of a selected transaction is visible to all or any.This makes bitcoin not a perfect currency for criminals, terrorists or money-launderers.

4 – Immutability

Bitcoin transactions can't be reversed, not like electronic fiat transactions.
This is as a result of there's no central “adjudicator” which will say “ok, return the cash.” If a transaction is recorded on the network, and if more than an hour has passed, it's not possible to change. While this could disquiet some, it will mean that any transaction on the bitcoin network can't be tampered with.

5 – Divisibility

The smallest unit of a bitcoin is named a Satoshi. it's 100 millionth of a bitcoin (0.00000001) – at today’s prices, about one-hundredth of a cent. this might conceivably change microtransactions that traditional electronic cash cannot.

Ways To Earn Free Bitcoin

1) Earn free Bitcoins by completing tasks on websites ✔

There are many websites which offer you to earn free Bitcoins. With most of these sites, the concept is that you visit the site and just for looking at it you get a small amount of Bitcoins. The concept has something in common with watching good old free TV. You watch a lot of ads and inbetween you get something you actually want to see, like a film or music clips.

While this is a legitimate concept, the return on your invested time is very little. So when you earn Bitcoins from these advertising sites, the Bitcoins actually come at the cost of your time. As the saying goes 'there is no free lunch'. But see for yourself, here is a list of some of the sites that I find interesting

ads4btc :: Earn Bitcoins for watching websites or videos. You can click every advert once a day, you have to view it between 5 and 60 seconds. The reward might seem small but it can add up. You get up to 1,000 Satoshi per click. In any case this site helps you to earn you first bitcoins fast.
COINADDER :: This site has a similar concept to earn bitcoins as the one listed above. You can watch videos and websites to get your first couple of Satoshis. I haven't tested this one but generally the payouts seem smaller. However, before you start to earn bictoins more seriously by watching ads, you should not just calculate the reward per view, but also how long a video view takes you. At the end of the day you want to maximize the bitcoins you earn per hour.
vidybit :: On this site you can earn bitcoins only from watching videos. Same hints as above apply. Calculate how many bitcoins you can get per hour in order to decide which is the best option for you.
freedigitalmoney.com :: Earn Bitcoins by getting rewards fo purchases made in Bitcoin. On this site you also don't need a user account and just have to enter your Bitcoin address to earn Bitcoins.
CoinWorker :: Earn Bitcoins by completing analytical tasks. A user account is required here. I haven't tried this service but payouts seem to be a bit higher than with the aforementioned sites.
Bitfortip :: Earn Bitcoins by answering forum questions. This is a nice service because it brings people together who are interested in Bitcoin and many other topics. At the same time it allows to pay rewards in bitcoin for answering questions. This is something that would not have been possible without a currency like Bitcoin that has low transaction fees and instant transfers
Earning Bitcoins from completing tasks on websites is a viable option to actually earn some Bitcoins, but don't expect your income to be very large. I regard it as a first step to get familiar with Bitcoin in general. Also, it is interesting to see what kind of services are enabled through frictionless money transfers.

2) Earn Bitcoins from mining 

Bitcoin mining is the process by which new Bitcoins are generated. When you perform mining, your computer adds new Bitcoin transactions to the blockchain (a public ledger where all Bitcoin transactions are stored) and searches for new blocks. A block is a file that has the most recent Bitcoin transactions recorded in it. When your computer discovers a new block, you receive a certain number of Bitcoins. Currently, a block contains BTC 25. This number changes throughout time and gets smaller by the factor 0.5 every four years.

Since bitcoin mining has become hardware intense and therefore expensive process, most individual miners join a so-called mining pool. One of the mining pools you can connect to is BitMinter for example. By providing computing power to their pool you can earn Bitcoins from mining without the need to build your own big mining farm. There are entire communities around Bitcoin mining and besides the fact that you earn Bitcoins it's also fun. You meet new people online and get in-depth knowledge about Bitcoin as a protocol and technology.

If you want to earn Bitcoins through mining, be aware that it is a costly and time-consuming process. Read the respective introductions and manuals to learn more about it. This website is a good starting point. Unless you are mining just out of curiosity and want to get to know the technology, it is important to make a cost/benefit analysis. Hardware prices, electricity costs, bitcoin difficulty and the Bitcoin value influence the profitability of Bitcoin mining. If all this seems interesting to you and you want to earn Bitcoins from mining make your first calculations on the Mining Dashboard.

3)Earn Bitcoins by getting tipped

When you earn Bitcoins through tips, it is much like accepting Bitcoin as a means of payment. You need a wallet, a QR-code with your Bitcoin address on it and the people who can potentially give you a tip need to be aware of it. There are various places where you can receive Bitcoin tips.

Again, your shop is the first thing to start with in case you have one. It's just a bit simpler because since tips are voluntary you don't really need to check the incoming payment and the exact amount. Simply display the QR-code and check each day what came in.
With tips, the nice thing is that you don't necessarily need to have a shop. A blog for instance or any other website is sufficient. You can display the QR-code or just your Bitcoin address at the bottom of your page or wherever it seems convenient and let people decide how much they want to tip you. You can also view how this looks like in the footer of this German blog bitcoins21.
Another really cool way to get tipped online is Bitfortip which was already mentioned above. This service allows you to get tipped in bitcoin as the name already says
Imagine you have a restaurant and want to encourage your customers to tip with Bitcoins, there is this nice service: bctip is a website where you can print little paper vouchers that have a certain Bitcoin balance on them. When your customer has one of these, he or she can simply give it to you or your employees and you can redeem it like a coupon.

4)Earn Bitcoins through trading

Some people would say that trading is a form of gambling. While there these two things have something in common, there are also fundamental differences. When you gamble (and assuming that it's a fair game) you have a certain probability of winning and losing. When you trade assets, this gets much more complex. I don't want to go into too much detail here. I just want to outline the concept of how you can earn Bitcoins with trading.

The safest way to make money with trading is through arbitrage. In short, this means that you see an opportunity to buy an asset in one place for a certain price and sell it immediately at another place for a higher price. It is important that you know you can sell the asset immediately at a certain price. If this does not hold, then we are talking of speculation - or gambling if you prefer.

The Bitcoin world, in my opinion, offers such arbitrage opportunities. But they are not as simple to execute as it might seem at first sight. Price differences between exchanges often come for certain reasons. The speed of fiat money transfers and access restrictions are just the most striking ones. You have to find out the concrete opportunities yourself. One place to start is this thread on Bitcoin StackExchange. Also, not every opportunity is available to everyone. Go and have a look at the price differences between exchanges and check out if you can find opportunities.

If you want to give arbitrage a try, you need to get Bitcoins almost instantly. One of the few sites where you don't need to sign up is bit4coin. If you spot an opportunity and want to act on it immediately, this is a way to get a hold of Bitcoins fast. If you manage to earn Bitcoins from arbitrage, this can be very profitable after all. But start cautiously as it really does require some experience.

The other way to earn Bitcoins from trading is simple speculation. In this case, you would buy Bitcoins, wait until the price increases, then sell for a fiat currency. When the price drops again, you buy more Bitcoins and start all over. For this to work out you either need to be very lucky or capable of predicting the future.

There are people who are good traders and who can recognize patterns from price charts. But that's something very specialized and I'm not sure if I believe in this. So for me, if you want to earn Bitcoins from this form of trading it could also be categorized as gambling. And actually, it's even riskier if you compare it to a fair game where you know your odds. When you speculate with assets, you can extract your odds from historical prices. But never start believing this would tell you something about the future reliably.

5) Earn Bitcoin Through Gamble

Most dice websites allow the user to have a free balance to play with, albeit a very small amount. Examples of sites that do this are PrimeDice and 999Dice. Whether you’ll be able to play the actual games depends on your jurisdiction, though you can often withdraw the money you’ve earned for free regardless of where you live. It is possible to research dice strategies and take the free amount and turn it into a substantial amount of money if you’re willing to invest the time. The author once took a 0.000005 faucet payout and turned it into .1 BTC, which was over $30 at the time.

Other types of casinos also exist in the Bitcoin world. CloudBet offers a 1:1 deposit bonus for which you must successfully gamble the funds you deposit several times over in order to cash out the bonus. They offer sports betting as well as regular casino games – even live ones with dealers over video chat and such.

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Milan Tomic

Hi. I’m Designer of Blog Magic. I’m CEO/Founder of ThemeXpose. I’m Creative Art Director, Web Designer, UI/UX Designer, Interaction Designer, Industrial Designer, Web Developer, Business Enthusiast, StartUp Enthusiast, Speaker, Writer and Photographer. Inspired to make things looks better.

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