Google the phrase “free bitcoin” and you won’t be disappointed with the number of results. What you will be disappointed with however is the nature of the sites claiming to offer “free” bitcoins. As the old saying goes: “Nothing in life is free.”
What these sites actually do is require you to perform time consuming tasks for a few measly satoshi (0.00000001 Bitcoin) which you will probably never see in any useable form as the sites have payout minimums that are impossible to reach. I decided to trawl through some of the top results for this search in an attempt to actually use them.
This site has a payout threshold of 6000 satoshi. I tried to complete one of their “tasks” which involved going to google and submitting to the site what recommended searching options I got for a particular search. But the task was incompletable and I wasted 15 minutes of my time as a result.
“Shut up and give me my free bitcoins”
That’s more like it! No more surveys/videos that don’t work right?
This site screams sham. It has two badges at the top of the page reading “secure” and “genuine 100% trusted website”, but with no indication of who awarded these accolades.
The site turns out to be an elaborate ad for the Bitcoin faucet “coinbox.me” which your “instant bitcoins” are paid into. Apparently the faucet pays out when you get to 5500 satoshi but it appear that you only get 60 satoshi a day. Not worth your time.
“Get BTC for free right now!” – Operative word being “now,” from my experience so far I am skeptical.
Once I submitted my address I was met with a message that read “Soon bitcoins will be sent!” and the promise of a measly 5 satoshi. But your balance has to exceed 5500 satoshi before payout can occur. Also, you can only submit once an hour, which earns you about five satoshi. That’s approximately 1100 submits to the site which would mean coming back and re-entering your address every hour for approximately 46 days for the equivalent of just under $0.03 USD worth of Bitcoin.
I don’t think there is a person on the planet whose time is worth that little.
Basically, for lack of better words, these sites are bad and you should never waste your time even entertaining the thought of using them. But then again I think two valuable lessons can be taught by sites like these. Firstly, nothing in life is free: there is a cost and/or reason attached to everything. Secondly, if something sounds too good to be true then it probably is and you should steer clear of it.
Featured image from Shutterstock.