The following are the free bitcoin earning platforms and a short overview of them.
How to earn Bitcoin with Binance?
Binance is also one of the biggest platforms to buy bitcoin or Ethereum and other cryptocurrencies. The exchange was founded in 2017 and quickly gained popularity.
Indeed, Binance offers high quality services and attractive fees. However, the interface may not be easy to learn, especially for a beginner.
In September 2019, Binance also launched its staking platform which allows holders of certain cryptocurrencies to earn interest. Binance indeed offers 8 cryptocurrency staker users “without having to configure nodes, without worrying about minimum amounts, durations or any other technical requirement”.
For now, Binance offers the staking of NEO, Ontology (ONT), QTUM, VeChain (VET), Stellar (XLM), Komodo (KMD), Algorand (ALGO) and Stratis (STRAT) tokens
BlockFi Wealth Management
BlockFi is a crypto-currency investment fund, which allows you to earn bitcoins by placing them.
Launched in 2017, BlockFi was one of the first companies to offer Dollar loans with crypto collateral. In addition to this, the company allows users to earn interest on their cryptocurrencies by storing them on the platform.
As a brand of trust, the BlockFi website recently managed to raise funds in the amount of $30 million. This follows an initial envelope of $18 million raised from investors.
BlockFi Wealth Management, how does it work?
BlockFi uses a portion of the funds deposited by users to lend them to traders, institutions or entrepreneurs looking to borrow cryptocurrencies. Opposite, savers will receive part of the interest paid by borrowers on loans granted by BlockFi.
The BlockFi Interest Account (BIA) allows you to operate your bitcoins and other cryptocurrencies and earn monthly interest on the type of asset you deposit with BlockFi.
BlockFi customers who use the BIA earn compound interest on the cryptocurrency, which significantly increases their holdings of bitcoin, ethereume, litecoin, USD Coin (USDC), and Gemini Dollar (GUSD) over time. In addition, interest is compounded daily, even though the interest payment is monthly.
BlockFi’s interest rates are of the “compound” type. We say of a capital that it is placed at compound interest when the interests of each period are incorporated into the capital to increase it gradually and bear interest in turn. In other words, when you earn interest in the first month, your next interest payment is calculated from your new total balance. It includes your old balance + the interest generated the previous month.
Depending on how much you leave in the account, and the type of cryptocurrency, you will have a different annual percentage return. BlockFi earns 4.9% in bitcoin by placing 0 to 3 bitcoin.
Or else – buy bitcoin without commission
While all of these methods in this article can be valid ways to earn free bitcoin, they are very time consuming and will require other resources like time or electricity. In the case of Bitcoin mining for example, you will have to buy expensive equipment and your energy bills will be so expensive that they are likely to thwart the purpose of what you are doing.
For this reason, we recommend instead, if you want to get bitcoin for a decent price, to try our recommended eToro broker. On eToro, you can own bitcoin and over 16 other cryptocurrencies in under 5 minutes and the fees are very low compared to other platforms.
Not only that, but eToro is a regulated platform which means your funds and bitcoin will be safe.
Conclusion: how to earn bitcoin?
We have listed the methods that we think are the most simple, effective and safe. But there are also other techniques to earn Bitcoin for free. This list is therefore not exhaustive and will undoubtedly be updated.
We can also mention the faucets. These are in fact sites that pay you in satoshi (the smallest unit of the Bitcoin protocol) against “clicks”. However, this type of service pays very little and many close their doors quickly. But also, the giveway on Twitter, contests in which influencers win cryptocurrency.
Note that for people who already have bitcoins, it is possible to place them in savings accounts in order to generate interest. Perhaps the most reliable service of its kind is BlockFi. Or if you want to get bitcoin faster, try eToro.