6 Effective Ways To Earn Bitcoin For Free In 2023 - A Comprehensive Guide
By Nerly Shammah May 25, 2023
Earning free bitcoins in 2023 may be a bit tasky, but it is not impossible. In this article, we will explore diverse Bitcoin earning opportunities that you can jump on quickly and start earning right from the comfort of your home or office.
What Is Bitcoin?
If you're new to the term "Bitcoin", it's best we briefly throw light on what Bitcoin really is. Bitcoin is a cryptocurrency that can be used as a medium of exchange for goods and services or simply as an investment like physical assets like gold or real estate properties. However, unlike those physical assets, bitcoin is a digital asset whose transactions are stored on a "public digital ledger" called the blockchain. Another important note on Bitcoin is that it is a highly volatile asset which means that individuals may lose money trading or investing in Bitcoin.
That said, Bitcoin's history has shown that the digital asset is a rather profitable investment asset given its increase in price and market value being over 40,000 % as per live price data on coingecko. The price of bitcoin at the time of writing is $26,256.53 per coin(1 BTC), down 1.7% in the last 24hrs.
Now that you know what bitcoin is, are you interested in how you could earn bitcoins for free and scale up to 1 BTC worth over $26,000? Then you're in luck because below are effective ways to not only earn Bitcoin but also earn other cryptocurrencies that you can convert to Bitcoin for free in 2023.
Ranked by the most profitable, here are ways to earn Bitcoin for free in 2023:
You can earn free bitcoins by offering freelance services. This is considered one of the most tasky ways to earn bitcoins because you'd have to be offering a service that you are highly skilled in. However, it is also the most profitable way to earn bitcoins because you literally get to decide just how much bitcoins you want in exchange for your services.
These services could be anything really, could be writing, could be web development or even being a crypto community manager, so if you've got the skills, quickly check out the best freelance platforms that pay in Bitcoin and other cryptocurrencies below:
Prdt.finance is a binary/prediction platform that enables individuals to predict or make bets on the direction of bitcoin price and in return earn cryptocurrencies like BNB which can be converted into bitcoin.
Prdt.finance has a fixed prize pool, a weekly lottery prize pool, and a jackpot pool, all incentivizing users to predict the direction of the market on its decentralized and open binary platform.
Poloniex is a global cryptocurrency exchange that provides trading services for over 400 crypto assets and they are currently giving away up to $1,000 in welcome bonus when you create an account and complete a couple of tasks. Poloniex rewards users in USDT, a centralized and collateralized stablecoin that can be traded for bitcoin right on the Poloniex app.
HBD is an acronym for Hive Backed Dollar, an algorithm stablecoin of the hive blockchain. HBD is a yield-bearing savings account on the hive blockchain that "regenerates" income at 20%APR of whatever amount is saved.
The HBD earned are claimed every 30 days and can compound if left in the savings account throughout the year or individually decided savings term. All HBD earned can be exchanged for bitcoin for every dollar it is worth.
Leofinance is a web3 social platform that incorporates a combination of microblogging and long-form content. Leofinance is built to give the feel of Twitter and Medium but with a touch of web3 where users are rewarded in a native cryptocurrency called "LEO." Also, users' content cannot be deleted as they are stored directly on the blockchain.
Leo token is rewarded to users of the platform and all ad revenues on the platform at the time are used to buy back Leo and distribute to the users. All Leo earned can be swapped for Bitcoin at any time needed and moved to a private wallet.
Crypto faucets have been around for quite some time now and they are often the go-to ways to earn free Bitcoin and other cryptocurrencies. However, they are widely often a waste of time as though the rewards are often very small.
However, if you wish to earn and hold tiny bits of Bitcoin, you can try the numerous cryptocurrency faucets out there like freebitco.in, faucet crypto, and cointiply.
Other ways to earn Bitcoin include making a "potentially" huge investment in Bitcoin mining, a process of verifying Bitcoin transactions by solving complex mathematical problems, and in return, miners get block rewards up to 6.25 bitcoin currently in addition to all transaction fees in that block. Based on estimates from reports on the largest bitcoin mining companies, it costs around $10,354 to mine 1 bitcoin which means for every bitcoin mined, there's an estimate of over $16,000 in profit at current prices.