Tuesday, November 12, 2013

How does one get bitcoin currency for free?

With the rise of bitcoin currency, many people are wondering how to get bitcoins for free, and while the long answer is, as always, "nothing in life is free", the short answer is the bitcoin faucet.

What, you will be wondering, is a bitcoin faucet?  The answer is quite simple -- a bitcoin faucet is a website that offers a very small amount of free bitcoin currency to visitors.  The reason they offer this is quite simple, bitcoin faucets are powered by the advertisement income on their webpages, and by visiting their page, there is a possibility that you will click on one of their advertisements, and in turn, help them to earn money.  Because the amount that a bitcoin faucet gives out is very minimal, it's a very cost-effective method to attract people to their website.  After all, who doesn't want to get their hands on some bitcoin currency, now that (at time of writing), bitcoins are worth over $300 us dollars each, and will likely continue to increase in value, as the nature of bitcoins is that people use high-powered computer hardware to "mine" the bitcoins, but the process becomes exponentially more difficult over time, meaning that bitcoins will either have to increase in value, or the currency will be unprofitable to mine.

Other websites also work in a similar fashion to bitcoin faucets, but require you to complete simple tasks in order to obtain your free bitcoin currency, such as filling out short surveys or visiting webpages that they are advertising for.  All in all, running a bitcoin faucet is an ingenious method of increasing the traffic flow to your website at low cost to yourself.

Apart from getting bitcoins from a bitcoin faucet, it's also common for people to gamble with small amounts of the currency at a bitcoin casino, though this is obviously not a sure-fire method of obtaining free bitcoins.  Though the amount of bitcoins that a faucet gives is very small, it is worth noting that bitcoin difficulty is increasing, meaning that it's becoming harder and harder for miners to produce new coins, and as such, the value of anything you get from a bitcoin faucet now is likely to increase over the coming years, or miners will be forced to leave the market due to lack of profitability.

Some people think that bitcoins are the way of the future, and for us people slowly milking bitcoin faucets, we can only hope that the bitcoin currency continues for a long time, and that every day new people hear about the bitcoin currency and ask how to get bitcoins for free.  That said, the future is bright, and the level of interest and investment in the bitcoin currency is steadily increasing, as is visible from bitcoin currency markets such as Mt.Gox.

I must apologize for not providing any links to bitcoin faucets on this page.  I plan on compiling a list of bitcoin faucets in the near future for easy access to anyone that views this blog.  Until then, happy hunting!

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