One of the revolutionary inventions in the previous decade has undoubtedly been bitcoin. The cryptocurrency has taken the internet and the world by storm. It has turned into something of a mainstay in economics and many sites now actually allow the usage of bitcoin as a payment method to purchase various products. This article will give you a brief overview of bitcoin as well as ways you can obtain free bitcoin.
What is bitcoin?
Bitcoin is a cryptocurrency that was founded in the year 2008. The identity of the people or group of people who founded bitcoin remains unknown to this very day. The person or group of people merely go by the name Satoshi Nakamoto and claim to Japanese. In 2009, bitcoin was made open source.
Bitcoin is a digital currency that functions without a central bank or administrator. This means cash can be exchanged between two users without any external hassle. The process of obtaining bitcoins is usually referred to as mining. Experts estimate that there were around 6 million people with a cryptocurrency wallet and that most of them use bitcoin.
Bitcoin is seen as something of a double-edged sword in the eyes of the general public. It has garnered praise for being decentralized, simple, secure, and fast. On the other hand, critics have pointed out that bitcoin is increasingly being used in illegal transactions, which is a disadvantage.
Obtaining bitcoin for free:
The most common way of obtaining free bitcoin is through bitcoin faucets. However, the downside is that most of these are scams that will leave you scratching your head for weeks afterward. That doesn’t mean all of them are scams though. Freebitco.in has a userbase of 37 million and is generally considered to be safe and secure.
If you find yourself uneasy trusting a bitcoin faucet, you can always turn to bitcoin casinos. These are just the same as regular casinos with the difference being that the user is paid out in bitcoin if he/she wins a game.
Additionally, completing online surveys, tasks, and playing games are all free, simple, and easy ways of earning bitcoin for free. The tasks can range from watching videos or subscribing to certain content on the internet.
Lastly, there is also the fact that you can mine hardware to obtain bitcoin. This method isn’t recommended for two reasons. One being that it offers little returns even for high-end hardware and two, it consumes a lot of electricity and you may end up damaging your hardware in the process.
Many people believe that bitcoin is the future of currency. For an outsider, the term can be scary and it is easy to get fooled when you start investing in bitcoin. Choosing a safe, reliable option to obtain bitcoin for free could well set the foundations for bigger investments in the future.