With fakes and spams everywhere, getting something, which is free or legit, is just impossible. There’re some ways to get free bitcoin, which are legit however, they involve some kind of investment. The examples are trading and mining.
- In bitcoin trading, although process involves plenty of risks, definitely it is worth it when you begin making some profit. Keep in mind that market of the cryptocurrency is filled with a lot of fluctuations & nothing stay stable. Thus, trade at your risk. I would suggest begin with the small amount when you start to trade.
- In bitcoin mining, initial process to set up mining rigs (needed for mining) is very expensive as it involves supercomputers & regular PCs will not do. However, the entire process is totally worth it when you begin mining, returns you would get trumps the whole thing. Mining is an only way by which you will earn good amount of return (besides trading, since it depends on the profits)
There are some methods to get free bitcoins; however, their authenticity is sometimes questionable. You do not know which application or website is fake or can spam you. Thus, you need to be aware about these websites and apps. At times, even though the website is not the fake or gives you the free bitcoins, amount that is given is too less and hardly make any kind of difference and whole process is waste of time (since they will ask you perform certain tasks to get free bitcoins).
However, here is an exception. The referral program is legit and offers $5 (in place of $1 of other website’s referrals) in the referrals. Also, it can give you the commissions each single time the referral trades.
You just have to keep eye out for the Bitcoin scams that are getting highly sophisticated as technology advances. But, there are some common scams that you need to know about.
- Mining scams – As bitcoin mining needs considerable resources and time, fake mining companies can offer to mine for you—in case you pay them.
- Exchange scams- There is not any regulatory body, which monitors the coin exchanges, and making them highly susceptible to the scammers or hackers.
- Wallet scams – The fake wallets online can ask for the money upfront and give you the bitcoin address, which leads to scammer, and not you.