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How to Earn Free Bitcoin
Google searches for Bitcoin have never been higher, and they’ve doubled in the last month alone! Bitcoin and other cryptocurrencies have become buzzwords in the media lately due to skyrocketing value and investment potential.
Currently, one Bitcoin is currently worth more than $30,000! This price fluctuates daily, just a month ago a Bitcoin was worth almost $60,000.
If you’ve ever thought about investing in Bitcoin, you might be scared off by these fluctuations. What if you invest in Bitcoin and the price dips again, and your money is lost? That’s where free Bitcoin comes in.
If you can earn free cryptocurrency, you’ll have gotten a potentially lucrative investment without risking your own money. Even if the price plummets, you’ll still be making money. If you’re interested in learning how to get free Bitcoin, read on!
What Is Bitcoin?
Bitcoin is a digital currency, also known as a cryptocurrency, invented in 2009. This means that there are no physical Bitcoins, they are simply kept in a universal ledger.
Every transaction made with Bitcoin is on this ledger, which is accessible to anyone. This makes it much more difficult to fake transactions or the existence of Bitcoins.
For instance, you can’t pretend that you have 5 Bitcoin. If there’s no record of you acquiring or selling them on the ledger, it’s clear that you’re faking your Bitcoin ownership. This is what allows Bitcoins to maintain their value, as they aren’t maintained by any government or bank.
Initially, Bitcoin sold for $150 each. Now that price has risen to tens of thousands of dollars. There is a maximum of 21 million coins available, meaning that the price is expected to keep rising.
What Is Bitcoin Mining?
The traditional way of getting new Bitcoin is mining. It takes a lot of time and computational energy.
With a digital currency, the potential for scams and fraudulent Bitcoin is rampant. People who mine Bitcoin are using their computer power to verify Bitcoin transactions, which is how the system remains honest. In return, they’re rewarded with new Bitcoin.
For a rough comparison, imagine if diamonds weren’t mined by using a pickaxe. Instead, you had to verify other diamonds’ authenticity and were paid for your work with diamonds in turn.
Verifying a transaction is done by your computer in the background. To simplify a complicated process, your computer is trying to guess a 64-digit number that can verify the transaction. While your computer can generate and compare numbers a lot quicker than you can by hand, it still takes a long time and processing power.
Furthermore, after verifying a transaction, you have to be the first person to have verified that transaction. If someone else has already verified it, you won’t earn any Bitcoin for your work. If you don’t have a lot of computing power, you’re not likely to verify any transaction first.
How Can You Use Bitcoin?
You might wonder why it’s worth it to even have a Bitcoin. After all, you can’t buy your groceries with it and it’s very difficult to acquire.
Bitcoin is better considered a stock than a currency. If you buy a stock in Microsoft, you won’t be able to take it to the store but it will still have value and count as an asset. From this perspective, Bitcoin can diversify your portfolio and acts as an investment in the cryptocurrency market.
In order to cash out, you can sell your Bitcoin for money that you can use in your day-to-day life.
That said, you can use Bitcoin to pay for some purchases. There are 26 million Bitcoin merchants available including Twitch, AT&T, and more. PayPal is even planning to support Bitcoin (and other cryptocurrencies) in the coming year.
How to Earn Free Bitcoin
Now that you understand how valuable Bitcoin is, and how difficult it is to acquire normally, you understand how valuable it is to get free Bitcoin. It’s comparable to getting free money, or free stock.
You can earn Bitcoin easily with GrabPoints. We’re a company that provides marketing research for other large, verified companies.
These companies will provide us with surveys, ads, and other tasks that will give them information about their target audience. For each task you complete, you’re rewarded with GrabPoints.
Tasks are simple and don’t take much work. For instance, you might have to fill out a survey about what kinds of products you’re likely to buy or watch a few ads. You might even get to join a free trial for a company, so you can enjoy their service while earning points!
The only caveat is that you have to complete a task before you’re rewarded, so don’t start a task and quit halfway through. If you’re looking to boost your points, you can always refer a friend!
As you accrue GrabPoints, you can get a payout in the form of your choosing. Payouts can include gift cards, in-game currencies, and Bitcoin! This is the simplest way how to get free Bitcoins without mining.
Watch Out for Scams
As you now know, Bitcoin is prone to scammers and fake coins. For that reason, it’s important to only get your Bitcoin from verified sources. Some people are excited to hop on the cryptocurrency bandwagon, and take to the internet looking for free Bitcoin.
They’ll likely stumble upon a site that calls itself a free Bitcoin faucet. It will say that it will generate or mine Bitcoin for you for free.
Instead of mining Bitcoin, they’ll mine your personal information. This means they can invade your privacy and take your passwords, your credit card information, and more.
Bitcoin is very valuable, but your personal safety is more important. With GrabPoints, you know you’re working with a trusted company that delivers verified payouts and real Bitcoin. We have a Trustpilot rating of 4.7, so you can rest assured that your work with us will keep you safe.
Start Earning Free Bitcoin Today
Now that you understand Bitcoin better, there’s no reason not to start earning free Bitcoin. Sign-up is free, and you can start getting GrabPoints immediately! You can make and save lots of money in exchange for just a few minutes of your time.
If Bitcoin isn’t your thing, we have a wide variety of rewards that might appeal to you more! Check out our prizes and start earning today!