With the mad rush to sell up in the middle of this most recent (and almost seasonal) crash in the price of Bitcoin, many are doing all they can to snatch up a bargain on exchanges and gather up as many Bitcoins as they can. So you’re probably wondering how true it is that you can really do this? Well, I’m going to walk you through how to get free Bitcoins from some reliable faucets and leverage them on a few entry-level cloud mining sites to compound your treasure trove.
You may be wondering how the heck it is possible to get free Bitcoins. This is simply a case of arbitrage for the sites operating as faucets. They get paid based on the ads that appear on their page that the faucet is on, from that they set aside some of the money to convert into Bitcoin and pay you. So it’s really the advertisers who are giving you the free Bitcoin, via the faucet website. A bit of a win-win really.
Now I’ve had plenty of friends who want to get a start on their crypto portfolio, but they don’t want to risk their own money. This is a great way to get yourself in the game with as low a level of risk as you are going to find; it’s not really your money (at least not money from your bank account).
Some of the more frequently paying faucets are outlined below, but where do you send the Bitcoins once you have them from these faucets? Well, that brings us to Step 1 – Setting up a Bitcoin Wallet.
Step 1 – Setting up a Bitcoin Wallet
For the purposes of this activity, we are not going to get too hung up on security and spending a large chunk of cash on a Nano Ledger, or a Trezor hardware wallet. The simplest way to be able to move your free crypto into a wallet where you can do something with it to leverage what you have is through EoBot. Sign up to EoBot for free and navigate your way to the ‘Deposit‘ page. You’ll find this under the ‘User’ menu in the top right of the page.
Once you are on ‘Deposit’ creating a wallet is as simple as scrolling down and clicking on ‘Generate‘ for your chosen currency.
Step 2 – Using your Bitcoin Wallet Address
Now that you have a wallet address, go to MoonBit and Bonus Bitcoin and sign up for free. You will need to set up an account with CoinPot, which MoonBit and Bonus Bitcoin will use to deposit your Bitcoin into. All you’ll need is an email address to do this. I would suggest setting one up that you can keep separate from your main emails just in case the account gets spammed by advertisers. You are now on the way to get free Bitcoins!
Use the wallet address you generated from EoBot to add to the payout address in CoinPot.
Step 3 – Get free Bitcoins
Go back over to MoonBit and Bonus Bitcoin and verify that you are human through completing the reCAPTCHA processes, normally a tick box, and click on the button to get free Bitcoins. You will have payouts available with these two sites every 15 minutes. You can also go to Free Bitcoin to get free Bitcoins every hour.
By pooling these into EoBot and using them to drive your cloud mining account, you’ll be compounding your strengths and get free Bitcoins much faster than many other ways. Keep your eyes on this site as we will do a series on how to get EoBot working for you more efficiently with no cash of your own into the deal!