How To Get $50 in Free Bitcoin Today
Bitcoin is either the currency of the future or beanie babies for adults.
The currency is highly speculative and unregulated and blah blah disclaimer blah. But free Bitcoin? That’s basically all upside.
Here’s how absolute beginners can get started with $48 in free Bitcoin today.
Earn $31 On Coinbase Rewards
Step 1: Register for Coinbase
Coinbase is a reputable trading platform, kind of like E Trade for cryptocurrency. If you register using this referral link, you will earn $10 of free Bitcoin if you buy or sell $100 of crypto. (I also get $10 for this, thanks! It’s only $5 if you don’t have the code).
Step 2: Earn $31 In Rewards
Complete quizzes about different cryptocurrencies to receive free crypto. This is in the Earn Rewards section of Coinbase (only available on the web browser, not on the app). The answers to the current quizzes are at the bottom of this article.
There are $31 in rewards with different cryptocurrencies currently available from these quizzes, and they are completely free to earn. These quizzes do have a limited number of free rewards available, so don’t delay.
Step 3: Convert Rewards to Bitcoin
This step is optional, but you can to convert the $31 in rewards altcoin over to Bitcoin. Converting is under Buy/Sell on the Coinbase website, or the trade button on the app. You can convert each of your different reward currencies to Bitcoin, without any fees. You just got $31 of Bitcoin for free!
Buy $200 of Bitcoin, Get $20 Bitcoin
Technically the deal is — buy or sell $100 of cryptocurrency, get $10 Bitcoin free.
This promotion is available right now on two credible trading platforms: Coinbase and Gemini. Referral link here and here.
Now this reward isn’t actually completely free because you pay a fee to the platform when you buy Bitcoin with US dollars.
But the fee on Coinbase is just $2.99, so it’s worth it to trade $100 on Coinbase to get the $10 offer.
Same goes for with Gemini. If you use Gemini Basic, the fee to buy $100 Bitcoin is $2.99. If you use Gemini ActiveTrader to buy $100 in Bitcoin, your fee will be just $.25.
You can change between the Gemini trading interfaces very easily in your Gemini account settings. Obviously the fees are better on Gemini ActiveTrader (as low as 0.35%, versus Coinbase’s structure that includes a flat fee + .50%), but it’s less user-friendly.
Tip: If you’re intimidated by the volatility of Bitcoin, you could buy $100 of a less volatile currency and still get the $10 reward in Bitcoin. Tether (USDT) and Dai (DAI) are much more stable cryptocurrencies that peg themselves to the value of the US Dollar.
Another Tip: You could technically do this with only $104 in cash, instead of $200. You’d buy $101 of cryptocurrency in Coinbase for a $2.99 fee. Then you’d transfer that $101 of crypto to Gemini for another $.14 fee. Then you could convert that $101 of crypto back to US Dollars for a $.25 fee. This would still get you your $10 reward on both platforms.
Final Tip: Coinbase and Gemini are both giving you $ because they expect you to spend $$$. Definitely do not spend more on crypto than you can afford to lose! And minimize fees where you can!
Steal my Coinbase homework
Here are the Coinbase quiz answers. As of June 8, 2021, there is $31 available in rewards from different cryptocurrencies. Have at it!
Earn $10 in Stellar Lumens (XLM)
Answers:
Q1: A decentralized protocol that unites the world’s financial infrastructure.
Q2: Facilitating low-cost, universal payments.
Q3: Transactions are fast, inexpensive, and global.
Q4: To issue, exchange, and transfer tokens quickly and efficiently.
Q5: It relies on the cooperation of trusted nodes to confirm transactions.
Earn $9 in Compound (COMP)
Answers:
Q1: Earn interest on crypto
Q2: Supply crypto asset as collateral
Q3: COMP token holders
Earn $3 in Polygon (MATIC)
Answers:
Q1: What blockchain is Polygon helping to scale?
A1: Ethereum
Q1: Who runs the Polygon network?
A1: Polygon Validators
Q1: What is Polygon building?
A1: An internet of blockchains on Ethereum
Earn $3 in Ampleforth Governance Token (FORTH)
Answers:
Q 1: Rebase
Q 2: AMPL and FORTH
Q 3: DeFi building block
Earn $3 in Graph (GRT)
Answers:
Q 1: The blockchain
Q2: You earn GRT
Q3: The curators
Earn $3 in SKALE Governance Token (SKL)
Answers:
Q1: Any Ethereum application
Q2: Delegate SKL to a validator
Q3: An internet of blockchains
Recap
This is a true beginners guide to get $48 of free Bitcoin for less than $4. Coinbase rewards currently offer $31 in free cryptocurrency, which can be transferred to Bitcoin for free. Meanwhile, Coinbase and Gemini both offer “Spend $100, get $10” referral programs. Together, this makes it easy easy and low-risk to get started with Bitcoin today.