Can You Mine Bitcoin for Free? Sounds Dodgy

When it comes to bitcoin mining, the first thing that comes to mind is expensive hardware and high electricity costs. But contrary to popular belief, you don’t actually have to own bitcoin mining hardware to mine bitcoin. As dodgy as it sounds, you can actually mine bitcoin for free

Of course, nothing really comes for free. You have to put in the time, effort and talent and money in exchange. Perhaps it’s important to point out here that there are several online scams that promise ridiculously high rewards. If it’s too good to be true, it’s probably just that. Exercise your due diligence.

Let’s have a look at some of the legitimate ways for free bitcoin mining.

Cloud Mining

Cloud mining means you buy a certain amount of shared computing power and a remote data centre. This means you earn a regular amount of bitcoin proportional to your contribution.

If you have been wondering how to mine bitcoin for free, this is a very convenient option if you want to spare yourself the hassle of managing hardware and other time consuming operations of a data mining centre. Providers will deduct the cost of running the operation and give you a regular profit.

The rate is often given upfront. All you have to do is set up your bitcoin wallet and get ready to mine bitcoins for free. Here are a few good free bitcoin wallets in case you don’t have one.

Complete Tasks

You can actually earn free bitcoins while doing some fun tasks online – like watching and reviewing movies. Others reward you with free bitcoins for watching a couple of adverts. And it doesn’t have to be all that boring.

You can actually get to watch your favourite movies in between, absolutely for free.

Certain apps like the Free Bitcoin Maker allow you to earn free bitcoins every few seconds. You should be careful though.

Hey, this is not a hugely rewarding activity. In fact, it might not be the best use of time. But why not earn a few bitcoins while having fun?

Mining Pools

One way to avoid the hefty investment needed for successful bitcoin mining is to join a mining pool. When you join one like Slush Pool, you are basically contributing your computing power together with other miners across the globe.

The mining pool operator will give you your cut at the end of the day. This is one way to mine free bitcoins with little in hardware investment.

One other way, of course, is to set up and operate a mining pool. This, however, entails substantial investment both in time and money. Nevertheless, this is one of the best ways to mine for free online once you earn the trust.

Bitcoin Faucets

Bitcoin faucets give out rewards in satoshis for completing online tasks like filling in a captcha. Some systems dispense bitcoins at certain fixed intervals.

The rewards often fluctuate with bitcoin prices. Faucets often make payments when a certain minimum limit is reached to reduce mining fees.

Bitcoin Lending

If you already own some bitcoins, you can let it work for you by lending it at an interest. Lending is however risky. You should only lend to trusted friends or on trusted websites, otherwise, you may lose your bitcoins.

Mine Bitcoins for free

Bitcoin mining is no longer a guaranteed way of getting some free bitcoins. In fact, you might burn your fingers if you don’t do your research. High electricity costs and fluctuating bitcoin prices present substantial risks. Take advantage of the several bitcoin calculators to estimate your mining profitability.

Wondering how to get free bitcoins without mining? Affiliate marketing is one great way to earn bitcoin. Of course, you can get free bitcoins through gambling and playing games. As you know, methods such as gambling are highly risky and you might actually lose all your money.

There are several ways on how to mine for bitcoins for free. However, be prepared to spend some good amount of time and effort.