As of November 2022, there were more than 200,000 daily Bitcoin transactions. When Bitcoin was first launched, many thought that crypto would never amount to anything. Cryptocurrencies have become incredibly popular in recent years all over the world, and people have made huge profits from investing in Bitcoin and other cryptos.
If you’re new to the crypto space, you might have a lot of questions. The most important thing to know is that you’re not too late. As the market continues to grow, the potential to make profits from crypto still exists.
In this guide, we’ll explain how you can start earning free Bitcoin today. Keep reading for more.
Before investing in any asset, you should always have an understanding of what you’re actually buying. Bitcoin is a digital currency that you can transfer using blockchain technology. It was launched in 2009, and since then, more than 20,000 other cryptocurrencies have been developed.
Bitcoin was created with the idea of building a financial system that gives control back to the people, rather than the banks and other financial institutions. It’s fully decentralized, which means no one is in control. Everything takes place on a distributed ledger that’s made up of a network of computers all over the world.
Details of all Bitcoin transactions are recorded on the blockchain. Once recorded, there’s no way for anyone to alter or remove any records.
Bitcoin, like all other cryptos, is fully digital. There’s no physical currency, so you can store whatever crypto you have in various types of wallets.
Potential to Earn
There are all kinds of assets that you can invest in, and they vary in earning potential as well as risk. Cryptocurrencies are widely considered to be very high risk. This is, in part, due to its volatility.
The price of Bitcoin can increase or decrease very quickly. This is why the risk is so high – you could invest, and the value can drop dramatically. Conversely, the value could also spike in a short space of time.
This is what has resulted in such huge profits for some people. When Bitcoin was launched in 2009, a single Bitcoin was worth less than a cent. The all-time high was $68,990.90 which it reached in November 2021.
Since then, it has dropped again by more than 50%, but many people believe it will increase and even go beyond the earlier all-time high soon. One thing to bear in mind is that the returns that people have made in earlier years are unlikely to happen again.
The 5-year rate of return from December 31, 2016, was 4,686% – a great investment under any circumstances. As Bitcoin becomes more mainstream, it becomes more stable, so while the value will likely go up in the future, the chances of seeing this kind of return again are low. With that in mind, more stability means it’s a more secure investment, so the chances of huge losses are also reduced.
What Is Bitcoin Mining?
Bitcoin mining has long been one of the most well-known ways to generate free Bitcoin. It’s not as profitable as it once was, but many people still generate a lot of income from it.
Bitcoin mining involves verifying transactions on the blockchain. This is done using powerful hardware to solve equations and complete blocks. This effectively ensures the network can run, and those doing it are rewarded with Bitcoin.
Mining is possible with various other cryptos. As the most popular crypto in the world, Bitcoin is also the one most widely mined. To do this, however, you’ll need some serious hardware.
To start mining, you first need to build a mining rig. This can be done manually, or there are several companies that sell them already built.
With your mining rig set up, you’ll need to find a mining pool to join. One of these pools will have several miners all contributing to the pool. Together, these members will find blocks and solve them.
For each block solved, the mining pool will be rewarded. The reward that each member receives will be relative to their contribution.
Downsides to Bitcoin Mining
If you’re considering this, you need to think about how profitable it will be for you. Buying or building a rig isn’t cheap. Mining Bitcoins effectively also takes a lot of power.
Being able to source power at a low cost will help maximize your profits. Countries with lower energy costs are typically more suitable. Those who are serious about mining often set up rigs in countries that are more cost-effective.
Having access to renewable sources such as solar and wind power can be very beneficial. There’s a lot of concern around energy consumption with Bitcoin mining, which is another reason many miners like to use renewable sources. As of Q4 2021, renewable energy powered about 58.5% of Bitcoin mining worldwide.
Years ago, Bitcoin mining was a very useful way for people to get free Bitcoin. Anyone with a reasonably powerful computer and an internet connection could do it. Over the years, however, it has become far more demanding and competitive.
To be rewarded for mining, you need to be able to solve blocks faster than others. Due to how competitive it has become, someone can only make real profits from mining these days with a very powerful rig. For the average person, this simply isn’t practical.
Regular computers can’t match up to the hardware that miners use. Specially designed Bitcoin mining rigs are available, but they’re very expensive to buy and run. They’re called ASICs (application-specific integrated circuits), and can cost up to $40,000, or even more in some cases.
Cloud mining is a similar process, but it can be much easier for the average person to take part. You can get involved in cloud mining without having to own any physical rigs, as it’s done online.
It still uses mining rigs and servers, but they’re stored in third-party mining facilities. This means you don’t have to buy or manage the hardware yourself.
Instead, you’ll pay the third-party company a fee so that you can rent their hardware and use power from their facility. In most cases, you can use an app to track things like your earnings and the hash rate. Due to how easy this is, it can be a suitable way for beginners to get started with Bitcoin mining.
Free Bitcoin Through Cointiply
Bitcoin mining can be an ideal way to start earning free Bitcoin, but it’s not the only option. Various websites offer different solutions that can get people started on their Bitcoin journey.
Cointiply is one such website. We currently have more than 3 million users earning free Bitcoin, and that number grows every day. You can sign up for free and start earning your Bitcoin immediately in various ways.
Playing games is a huge hobby for a lot of people, and it’s not often people can get paid to do something they enjoy so much. With Cointiply, you can get paid simply to play games!
We have several mobile and desktop browser games available to play for free. You’ll earn our native crypto Coins as you make progress in these games. Once you’ve earned enough, you’ll be able to withdraw them and send them to your digital wallet.
You might not think your opinions are all that important, but there are a lot of organizations out there that would disagree. Cointiply offers a range of surveys relating to different subjects. Companies can use the feedback from these surveys to make important business decisions.
Each survey you complete will reward you with some Coins. The reward for each survey varies, but you should generally expect somewhere between $1 and $5 for each one. On top of this reward, you might one day be able to see the impact of your survey responses in the real world.
While these are the two most popular ways to earn free Bitcoin through Cointiply, there are several others. You can get rewards for doing things like watching videos, shopping online, or signing up for various services. When you withdraw your coins, you can choose to do so in Bitcoin, Litecoin, Dogecoin, or Dash.
How Much Free Bitcoin Can You Earn?
At Contiply, we don’t set any limit on how much you can earn. The average user earns about $30 worth of Bitcoin a month, but you could earn more or less depending on how much you use our services.
The tasks you choose to complete and the amount of time you can commit will all affect your earnings. Our users who spend the most time using our services sometimes earn hundreds of dollars per month.
We have a withdrawal threshold of 30,000 Coins, so you’ll need to earn this much before you can make a withdrawal. This works out to $3, and in most cases, people reach this point within a few days.
You can open your account and get started for free. Our games, surveys, and other tasks are also free, but some of them will include optional purchases. Note that these purchases generally offer higher rewards, but they’re not essential to complete tasks.
You can download our app directly from the Google Play Store for Android devices. Unfortunately, certain restrictions on the Apple Store mean we can’t launch an iOS app, but our website is mobile-friendly, so you can still use it on iPhones through your web browser.
Cointiply is available worldwide – just bear in mind that certain offers may be restricted by location. Some offers might also only be viewable in English.
We have several other features that you can make use of. This will help you maximize your earnings.
Logging in every day will boost your earnings by up to 100%. You can also boost your earnings with our referral program. You can refer users and you’ll earn 10% of any earnings they make from tasks, as well as 25% of their faucet earnings.
Maintain a Coin balance of over 35,000, and you’ll start earning interest at a rate of 5%. You can boost this by sending Bitcoin directly to your Cointiply account. By increasing your balance, you’ll earn more interest.
Community and Support
Cointiply currently has more than 3 million other users who you can chat with on our platform. If you have any questions or issues, you can contact our support team 24/7.
Our Bitcoin Faucet
Bitcoin faucets are websites that give away small amounts of crypto to their users for free. We offer this on Cointiply, but it’s worth noting that the rewards for our other services are generally quite a bit better.
The increase in popularity of Bitcoin and other cryptocurrencies has led to a wide range of developments. As such, there are various other ways that you can generate free Bitcoin.
Staking is available on various platforms. It involves placing your crypto on a crypto exchange, and they use it to facilitate trades, and you’ll then be rewarded in the crypto that you’re staking. The amount you’ll earn will be stated on the site as a percentage.
Note that Bitcoin uses a PoW (Proof-of-Work) mechanism. As such, you’ll need to convert it to a PoS (Proof-of-Stake) crypto to stake it.
These are marketing campaigns that reward people for getting others to sign up. You can provide people with your referral link, and you’ll be rewarded based on people signing up. You often need to get a lot of referrals to make any real amount of crypto, so this can be quite challenging.
Airdrops are another marketing strategy that crypto projects generally use when they’re first launching. Companies can offer airdrops to users based on specific actions. This can often involve things like referring users or following social media accounts.
Airdrops tend to be limited to a small number of users. After the airdrop happens, you’ll need to check to see if you’ve received any crypto.
Earn Free Bitcoin From Coinly Today
No one can deny the impact that Bitcoin has had on the world. It seems like a very safe bet that the crypto space will continue to grow, so there’s no better time to get involved than right now!
Cointiply provides an easy way to earn free Bitcoin. There’s no limit to how much you can earn, so sign up today and get started.