Wondering how to earn some bitcoin free? Free Bitcoins has a few great options that may just help you achieve that goal! When you register on the Exchange not only will you get a free cryptocurrency wallet, but you will also gain access to the FreeBitcoins Faucet.
How to start earning bitcoin free to;dr:
1. Register on FreeBitcoins exchange: https://freebitcoins.com/xchange/signup
2. Use the FreeBitcoins faucet (your users name is CaSe SenSiTiVe): https://freebitcoins.com/faucet/
3. Check your exchange balance to make sure you received the free coins: https://freebitcoins.com/xchange/profile/deposit
You may also find this Youtube video helpful.
What is a cryptocurrency faucet?
A cryptocurrency faucet is an online tool that automatically gives users a small amount of cryptocurrency for free or in exchange for something free such as solving a captcha or puzzle. The first-ever Bitcoin “business” was in fact a cryptocurrency faucet. The owner of the first crypto faucet was a gentleman by the name of Gavin Andresen. Mr. Andresen worked directly with Satoshi for a short period at the beginning of Bitcoin’s birth. Here is the post Mr. Andresen made announcing the first Bitcoin faucet: https://bitcointalk.org/index.php?topic=183.0 The faucet only gave 5 whole Bitcoins per hit though…!!!!!!!!!
How can I use the Free Bitcoins faucet to learn how to “cryptocurrency”?
Obtaining Bitcoin while people such as Jack Dorsey and Elon Musks recklessly create market frenzies is a royal pain in the ass. It’s important to know that Bitcoin isn’t the only cryptocurrency that provides the framework for a useable crypto-coin. There are thousands and thousands of cryptocurrencies in the world. You could create your own cryptocurrency today if you wanted, but the question is “whois using it?” The people or groups that use the cryptocurrency is a very important factor in cryptocurrency.
FreeBitcoins offers not only Bitcoin but also 20 other different cryptocurrencies that our users can use. Many of these coins actually give far more free coins through the faucet than our Bitcoin faucet gives. These coins often have much cheaper withdrawal requirements on the exchange due to their networks being much less used than Bitcoin.
Learning how to use cryptocurrency safely is going to be one of the most important lessons you could learn when using a faucet. Try to store 0.1 CLAM on a private key you generated yourself before you dive off the deep end and send 10 Bitcoins into space! Most of the coins on FreeBitcoins use SHA-256, which means that they all share the same private key.
Technically speaking, it is absolutely possible to save a single private key that stores all of your Bitcoin, Dogecoin, Clamcoin, Litecoin, and any other coin on a single key. This is a pretty valuable lesson potentially and there are SO many other lessons you can learn.
Whats are 5 quick lessons the author has learned about cryptocurrency from using free faucets?
- Never loan strangers cryptocurrency.
- Always try to hold your cryptocurrency private keys. The only exception to this is things that pay interest that make sense. (Just-dice.com and other reputable investment style places.)
- Long-term diversification in altcoins or anything cryptocurrency is extremely dangerous.
- Don’t trust the media about cryptocurrency. Read the source code. They get paid to report. Use your own brain (or at least try!)
- A good investment doesn’t mean something that is already perfect… A good investment is something that has potential. I would recommend helping that something realize its potential after you own a part of it. This is where the big profits sleep in this day and age I believe. Most projects are from 11:58 pm to 12 am on my imaginary D-Day Clock. Here is a good example of a single user accidentally breaking Dogecoins code… you can see users crying about how “DOGE will never have value again” and other such things haha: Dogecoin Reddit Fork Disaster (no worries, dogecoin made it thus far!)