I have decided that I am going to make 1 Bitcoin without doing any “real work”. This means possibly watching an advertisement here or there, playing games that have cryptocurrency rewards, use a specific browser, and invest current cryptocurrency to get the compound interest rolling.
My journey started a few years ago when i discovered that I could make small amounts of cryptocurrency by playing games, watching movies or doing some small tasks. Once I started to generate a bit of interest, i thought that I could challenge myself try and make a decent amount of cryptocurrency.
Reaching a set amount of cryptocurrency is much the same as trying to reach a set goal, like financial independence. It’s important to make sure you are looking at ways to earn, save and invest to reach your goal. I have separated these sections below to outline and included each of the platforms that I use, so you can see how I am trying to make one bitcoin for free!
Earning Bitcoin (and other Cryptocurrencies)
In this section I describe the platforms and the products that I have used to “earn” free Bitcoins (and other cryptocurrencies). Just like when your trying to reach financial independence, its important that you have an income, that you can then use to generate further investing returns.
Crypto Idle Miner
Crytpo Idle Miner is a game that provides real cryptocurrency (HORA Tokens) as a reward.
Crypto Idle Miner, as the name suggests, is an idle type game. The player is required to upgrade certain items, to provide a multiplier to a cash value. The main goal is to stack as many multipliers as possible in the most efficient way and make the most money (or cryptocurrency) as possible. Crypto Idle Miner has both simulation cryptocurrency (virtual currency mined as part of the game), and Hora Tokens (real cryptocurrency provided to the best performers each month). It is fairly easy to climb the ladder as the development team releases a new event each week. So far I have currently made close to 200,000 worth of Hora tokens. You can find my in-depth Crypto Idle Miner review here.
Another game that lets you earn cryptocurrency is RollerCoin. It’s quite addictive and teaches you about cryptocurrency mining. The game has currently paid out a total of over 6 BitCoin!.
How the game works:
- 3,000 real satoshi (0.00003000 BTC) is released every 5 minutes.
- Your share of satoshi is based on your in+game power level (hash rate).
- You earn a higher hash rate for playing mini-games (i.e. flappy bird, memory, space invaders, etc) that last < 1 min each
- To work out your percentage of the block, your power is divided by the power of the whole server and then multiplied by the 3,000 Satoshi.
This game is addictive as it’s easy to reach the top 5% of players (if you have the time). Check out my RollerCoin review article if you are interested in learning more.
Currently I am ranking in the 1,000’s out of a possible 350,000+
So far I have managed to receive over 200 € worth of free cryptocurrency through using the Coinbase learning platform, Coinbase Earn. It’s very easy to gain – you just have to have about 10 mins and be interested in watching some short videos on how various cryptocurrencies work. From this, I have earned some Ethereum (ETH), Stellar Lumens (XLM), EOS (EOS), Basic Attention Tokens (BAT), Dai (DAI) and many more. I wrote an in-depth article that you can find here.
I have been using the Brave Browser for over a year now. The Brave Browser is a new security focused open-source browser built on the Chromium web browser. The premise behind the brave browser is to keep user’s data safe and to prevent advertisements and tracking dater from websites. Brave is also aiming to help fight phishing and malware. So far from using the browser, I have had over 631,000 trackers & ads blocked, and 6.32 GB Bandwidth saved, which has saved me a total of 8.8 hours. In addition to that, the brave browser rewards users with BAT tokens if they choose to watch advertisements. The idea here is that all advertisements are blocked, but if you choose to accept ads, you get a percentage of the money (in tokens) that the advertiser pays. Find out more information here as to why I changed to the Brave Browser.
Saving and Storing Bitcoin
This section will be noticeably more blank than the the one before it, and the one after. That’s because I don’t use any special method to save or store my Bitcoin. If the Bitcoin or other cryptocurrency is not currently invested (which most of it is), then depending on the cryptocurrency type, I will store it in a suitable hot wallet. Most of the currencies are stored in the platform where they were generated (i.e. Coinbase, The Sun Exchange, RollerCoin, Crypto Idle Miner, etc.).
Related article: All the cryptocurrency wallet types explained. Just make sure that you don’t forget your passwords!
Investing and Compounding Bitcoin
There are currently only two platforms that I use to make my Bitcoin grow. They are both very different, with one investing the Bitcoin in solar generation infrastructure, and the other generating daily compound interest. If you are looking for some additional platforms, I have created another article about additional ways of earning interest on your cryptocurrency.
The above methods of earning cryptocurrency may not initially generate enough Bitcoins for you to invest. Therefore there are occasions where I have bought some Bitcoin for investing purposes. I have written an in-depth guide on the way that I purchase Bitcoin in a fast, cheap and secure manner.
The Sun Exchange
The Sun Exchange is a platform that allows investors to purchase solar cells which are then leased out to businesses. The business will pay for the solar power that is generated, with the majority of that payment being returned to the original purchaser. The solar cells can initially be bought with Bitcoin, and monthly returns are also paid out in Bitcoin. Through the platform, you can invest in projects such as schools, wine cellars, retirement villages, supermarkets, and veterinary hospitals. The solar installation allows the companies to have a set price of power over the next 20 years, providing more guarantees than the constant increases and unreliability of the South African power grid. The majority of projects have an internal rate of return of between 11% and 12%.
MyConstant is a platform allowing people to both invest (money and cryptocurrency) and borrow money. Investors have the option of choosing 4 different investing options including the standard flex account (standard 4% interest), crypto-backed account (lending money to a borrower that has issued cryptocurrency as collateral), loan originator account (similar to other P2P options), and a crypto lend account (earn interest on your cryptocurrency). For the purpose of my involvement with the platform, we will focus on the later of the investment options – crypto lend. Crypto Lend is a product that offers a 8.00% interest rate on cryptocurrencies such as Bitcoin (BTC), Etherum (ETH), and Binance Coins (BNB).
The platform is simple to use and easy to setup. Once you have some BTC (a minimum of 0.005 BTC) all you need to do is send it to the address supplied on the platform, and then it will automatically start to generate interest (at 9%). The interest is compounded and paid out every second, with withdrawals allowed at anytime. The 9% interest rate is generated by the platform offering liquidity to exchanges and swapping partners, and from that the investor earns a percentage of the trading fee. The platform is backed by Constant Guarantee, which is a $3,000,000 fund that underwrites all investments in Crypto Lend.
Additionally, My Constant offers higher rates on Bitcoin Interest (9%), than alternatives such as BlockFi (6%) and CoinLoan (6.4%). You can read more about the platform in my full review here.
By using the above methods of earning and investing Bitcoin, it wont be long before I reach my goal earning of one free bitcoin. I will continuously update this article as I explore new productive ways to earn, store or invest Bitcoin and other cryptocurrencies.
If you have any legitimate ideas on ways to generate or compound bitcoins, please let me know in the comments below.