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How to get free Bitcoin
A guide to some of the most common ways to earn free BTC.
Getting free Bitcoin is not hard – you just need to know where to look. Exchanges and platforms in Malaysia are competing for your custom, so there are plenty of sign-up offers and trading bonuses, refer-a-friend deals and more. We’ve done the hard work and listed some key ones in this guide. These are all legitimate ways to get free Bitcoin, and Finder experts have tested them.
1. Catch sign-up promotions and competitions
An easy way to get free Bitcoin is by capitalising on promotions and bonuses that offer free Bitcoin in exchange for your signing up to a platform. Many popular crypto exchanges in Malaysia offer a simple, lump-sum sign-up bonus to new users, while others offer a sweepstake that’s open to all new users – just expect small print.
2. Earn a return on Bitcoin you already own
Are you already holding Bitcoin within a crypto portfolio? Like their counterparts in traditional savings, some crypto products allow you to generate a yield from assets such as Bitcoin. If you already have some Bitcoin as part of your crypto holdings, then it’s worth checking to see if your exchange offers a way to earn an annual percentage yield (APY) on your digital assets.
Yield generating products typically include on-chain staking, for Proof-of-Stake blockchains and lending products where digital assets are lent to third parties to generate a return on investment. As Bitcoin is associated with a Proof-of-Work blockchain, lending or “off-chain staking” is one of the more common options available.
It’s important to remember that not all crypto exchanges are regulated by the Securities Commission Malaysia (SC) so there isn’t always consumer protection – crypto stored or lent to cryptocurrency platforms might not be covered by the SC. While most exchanges implement leading security measures and sometimes offer their own insurance, there might not be a guarantee that your funds will be returned in the event of a hack or the platform going bust.
3. Refer a friend
If you don’t want to sign up for a new exchange to tap into those sign-up bonuses, then another option might be to recommend your exchange to a friend. Paxful is currently offering tasty bonuses of Bitcoin if you successfully refer someone — and the best part is that you both get the reward.
As you might expect, there are usually a few hoops to jump through – you’ll usually need to use a specific referral link or code, and your friend might need to place a trade before you get your reward.
4. Play free games
A fun way to earn Bitcoin in Malaysia is to participate in a game that offers BTC as an in-game reward. Better known as GameFi – the combination of gaming and finance – this new generation of games integrate play-to-earn (P2E) mechanisms that allow players to earn rewards simply for participating. While some games incorporate native cryptocurrency tokens, there are others that offer BTC rewards.
The rewards offered by playing free games are small. While the game is fun, you’ll likely need a significant amount of game time to amass a decent amount.
Play one of the following games to earn small amounts of Bitcoin for free:
Wheel of Trivia and Wheel of Crypto
Thanks to a collaboration between fintech company, Zebedee, and game creator, Viker, Wheel of Trivia and Wheel of Crypto now offer BTC rewards as part of the prizes for playing the game.
Both are trivia-based games that test players’ knowledge of popular quiz questions. Players must spin the wheel and answer the associated trivia questions correctly to unlock in-game items and earn BTC for free.
Another creation from Viker games, Balls King, also lets users earn Bitcoin rewards for free. However, unlike Wheel of Trivia and Wheel of Crypto which were trivia-based, Balls King is a brick-breaking game designed for the play-to-earn generation. Players must break bricks in a Tetris-style interface to progress and unlock more rewards.
5. Get Bitcoin cashback on your shopping
There are now several browser extensions and web browsers that allow you to earn Bitcoin rewards when you complete everyday tasks online. Shopping with partner retailers can help bolster your Bitcoin holdings over time.
CoinCorner’s Bitcoin cashback
Isle of Man based-exchange, CoinCorner, launched its “Bitcoin cashback” back in 2020. There are two ways that you can earn yourself some free Bitcoin using CoinCorner. Either browse its directory for online retailers and shop as normal or download its Bitcoin cashback extension to receive a pop-up when you are on a partner retailer site to notify you of Bitcoin cashback offers.
Lolli browser extension
Focused on bringing Bitcoin rewards to the consumer, Lolli is a website and browser extension that allows shoppers to earn BTC rewards when making purchases online. Users can download the browser extension, shop online as normal, and earn rewards.
Through partnerships that the Lolli team has created with stores worldwide, the company receives a percentage from each sale which is then redistributed in the form of Bitcoin to users of Lolli. Although Lolli is currently available only in the US, there is an international waitlist for other countries.
6. Perform micro tasks
Performing micro-tasks on sites called “crypto faucets” can earn you very small amounts of free Bitcoin. Tasks can include things like taking surveys, clicking on ads, playing games, or watching videos.
If you have a lot of free time on your hands and this idea interests you, one popular crypto faucet worth checking out is Cointiply. According to Cointiply’s website, over US$7 million has been paid in Bitcoin rewards since the platform launched. Through the platform, users can participate in surveys, play games, sample new products and businesses and, in return, earn points. These points can then be converted into BTC, LTC, DASH or DOGE, depending on a user’s preference. The minimum withdrawal limit on the application is equivalent to US$3.
It is important to be aware that while these sites offer a completely free way to earn BTC, they are also prime for scammers that will not release promised Bitcoin funds. Depending on the platform, it can also take a very long time to earn a redeemable amount of BTC.
7. Learn to earn
OK, so the rewards might be a little limited with this one, but sites such as Cake DeFi, for example, are willing to dole out crypto rewards when you complete their online training. Easy! In some cases the rewards aren’t in Bitcoin, but if Bitcoin’s what you’re after, you’ll be able to trade your earnings for Bitcoin in the exchange.
We tried out Cake DeFi, which offers US$5 in BTC-DFI if you complete a simple quiz about Bitcoin and then create an account. The reward is locked up in Cake DeFi’s “Freezer” for 1 month before you can access it, with the aim of generating yield.
While not technically a free way to earn Bitcoin, once up and running, mining can provide a stable way to earn extra BTC to boost a portfolio. But how does the process work?
The Bitcoin blockchain runs thanks to a decentralised network of individuals and companies that are all around the world. These entities, better known as miners, race to solve a complex mathematical problem that allows them to add the next set of Bitcoin transactions to the blockchain. The miner that finds a solution to the problem and proves that a certain amount of computational work has been achieved gets to add the next block. In return for adding a new block, the miner is rewarded with a BTC block reward.
Unfortunately, not every computer can mine Bitcoin, which means the process is often not profitable for individuals. To compete, specific hardware is usually required and that hardware must then be powered by significant amounts of electricity. As a result, the initial upfront costs of mining are high. Although mining itself is stable, the profitability of the venture is highly dependent on the price of Bitcoin. For the average investor in Malaysia, it is usually more economical to buy and hold Bitcoin directly.
Want to learn more?
There are now a huge variety of methods that investors in Malaysia can use to access free Bitcoin. While the returns from each method vary considerably, the high optionality should mean that there is a method to suit every experience level.
Whether collecting free BTC rewards from a play-to-earn game or earning BTC through a cryptocurrency exchange signup bonus, make sure to thoroughly research the option and understand exactly what is required. Make sure each platform you interact with is safe and that Bitcoin funds are kept secure at all times.
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