Let me just start this article by saying that no one will give you bitcoin for free with no effort, unless they say that in an attempt to scam you. So if you’re looking for easy ways to get free bitcoins, you won’t find it here.
Instead, this article will list out ways for you to get bitcoin for free, through methods that require some effort and/or have T&Cs attached.
Still here? Good. But first,
Why bother to look for free bitcoin?
Why find ways to get bitcoin for free when you can just buy them, right? As in, buy bitcoin in Malaysia as an investment?
For sure, yes, you can do that. However I don’t recommend you buying bitcoin if you can’t afford to right now. Don’t buy bitcoin with your emergency savings or savings that you cannot afford to lose.
But what if you get bitcoin for free – even small amounts – then just wait it out as a strategy? If things go well, the bitcoin will appreciate in value. If not, all you lose is a bit of time and/or small amounts of capital.
This is what I did. In addition to buying my first bitcoin in December 2015, I also looked for ways to get bitcoin for free. It was around MYR1600/ USD400 then. According to the bitcoin price chart, the bitcoin price today is:
Bitcoin price today – Bitcoin to MYR
Bitcoin price today – Bitcoin to USD
So do you see why I say this may be a worthwhile pursuit for people who are bullish on bitcoin price? This strategy paid off for me, and hopefully it will pay off for you as well.
So let’s jump right in. Here are 6 ways to get bitcoin for free:
#1 – Use Lolli
Lolli is a cashback platform, which you can download as an extension. The way it works is similar to Shopback Malaysia – make your usual purchases and get some money back upon your purchase. However, unlike Shopback, Lolli distributes the cashback in bitcoin.
Admittedly, the stores are US-centric, but you can still find international platforms like Udemy and Booking.com there.
#2 – Make use of new user bonus signups
I would consider this ‘instant ROI’ opportunities. For example:
- New Luno users who use my code LNSURAYA50* in the rewards section will get RM50 in BTC for min RM500 in crypto purchase. That is instant 10% ROI
- New Tokenize users get 15 Tokenize Points when you sign up with my link. The points are exchangeable for digital assets offered in Tokenize
*This is a special code. Usual referral is free RM25 for RM250 worth of purchase. Use whichever amount you can afford
As far as I know, the other two licensed digital asset exchanges in Malaysia Sinegy and MX Global do not have such bonus yet. But if they do, I would make use of them as well. Bonuses for new users don’t last forever.
There are other platforms offering bonus signups, but those are not regulated in Malaysia and I don’t want to piss off SC, so I’ll stop here 🙂
#3 – Promote affiliates
The good thing about doing #2 is that you are now automatically eligible to earn bitcoin in Malaysia through the platform’s affiliate system.
Don’t knock affiliates. The bitcoin I earned years ago is worth significantly more now.
#4 – Get paid in bitcoin
Wait let me rephrase that. Rather than saying you can get bitcoin for free via this method, it’s more like getting them as payment in exchange for selling your products or services.
For example, back in 2016 I wrote a bitcoin guide on RinggitOhRinggit. From there I got recruited to write articles for other crypto platforms, and eventually worked in a bitcoin startup (it was short-lived). Just like that, I was earning in bitcoin, so I stopped buying them and started accumulating them this way instead.
Writing about cryptocurrencies and getting paid for it is cool because:
- (1) the research part is something I do
obsessivelyfor fun anyway
- (2) writing about hard topics helps me learn better
- (3) by creating good content, we are hopefully showing that not everyone in the crypto community is the YOLO, TO THE MOON types
One common misconception in the crypto industry is only some people (programmers) can enter it. Not true. The crypto industry needs accountants, lawyers, HR, marketers, list goes on.
In fact, people including from non-tech backgrounds who learn about crypto and blockchain will get a competitive advantage in the job market, as the industry is rapidly growing. You’ll be in demand, even.
Bonus: it is a remote-friendly industry
#5 – Be a bounty hunter
Next one – if you have cybercrime forensic and other types of skillsets, you can be a bounty hunter and earn by completing tasks. In theory this is a cool way to earn, but there are not many tasks to go around, or the ones remaining are very hard to do (think pro hacker level).
Regardless, this is still a valid option. Some websites you can check out include:
- Bounty0x.io – earn various tokens; many bounty categories including Content Creation and Graphic Design to Programming and more.
2. Bitcoin.com’s Bitcoin Bounty Hunter – earn Bitcoin Cash (BCH) rather than Bitcoin (BTC)
3. 1729.com – a newsletter which lists ‘bitcoin bounties for tasks & tutorials’
#6 – Play Games
This is a new one for me. Credit to Adam Mashrique for letting me know!
From what I can see, companies like MintGox, Thndr Games, Satoshi’s Games and other independent indie game makers like Battle Royale produced various types of play-to-earn bitcoin games, where you can literally get free bitcoin for playing games.
Do you know other ways to get bitcoin for free?
What other ways have you tried out to earn free bitcoin, aside from the methods listed here? Please share your knowledge in the comments section!
Lastly, keep a record of your bitcoin wallets and accounts, no matter how small an amount you got. If you forgot about them, they will be lost forever, there is no central Jabatan Akauntan Negara equivalent for you to check unclaimed bitcoin.
All the best with your efforts stacking sats (slang for accumulating small amounts of bitcoin). Maybe one day you’ll get this type of pleasant surprise as well.