In the past years, Bitcoin has seen a massive surge in value and take-up by organizations and individuals. When Bitcoin is setting new highs every day, with the current rate around $53,000 (Jan 2022), it is only natural for you to be curious about the ways one can earn some or rather a part of bitcoin. So what are the ways to mine bitcoin without putting in such large amounts of investment?
One way to earn bitcoins is through traditional mining. It is easily the best-known way to earn bitcoins, but traditional bitcoin mining requires supercomputers to mine today. It is because of the nature of the activity and the competition involved in being the first to facilitate transactions. Building massive computers aren't cheap, so for traditional Bitcoin mining to work, you'll have to put in a significant amount of investment amounting to several thousands of dollars before you start to reap benefits.
Since traditional bitcoin mining is out of the reach of most of you reading this blog, is there any other way to mine bitcoin without putting in such large amounts of investment? There are numerous ways to earn bitcoin for free, like playing games, doing surveys, watching ads, and of course, free mining. Our focus for this blog is bitcoin mining without investments. Let's dig deeper into it, shall we?
Are free bitcoins legit?
Before we touch upon mining bitcoins for free, it is crucial to address the first question you might have regarding the topic, i.e., is free bitcoin even legit? The answer to this question is both yes and no. While there are numerous effective sources to earn bitcoins, though in tiny quantities for free, you can't deny the possibility of being scammed, phishing attacks, and Trojan running through your system.
It is imperative to know and recognize the legitimate sites and sources to earn and mine bitcoin before even attempting to click on any random link on google, Reddit, or any forums. It is essential to be vigilant, maybe more than you are when downloading torrents, so that you can stay away from sophisticated scams and virus attacks.
Earning bitcoins for free
There are numerous ways to earn bitcoins for free. Some of them are as follows:
- Shop to earn bitcoins
- Bitcoin Games: Special dedicated games reward you with small amounts of bitcoins to win.
- Bitcoin Faucets: Dedicated websites give you small amounts of bitcoin as a reward for completing specific tasks like giving reviews, watching video ads, completing surveys, and more.
- Affiliate Marketing: Like any general affiliate marketing program, some affiliate marketing programs offer you money when users buy things through your links, only that the money awarded is in the form of bitcoins.
- Mining without investment
What is Mining without Investment?
Yes, you read it right; you can mine bitcoins without investing significant chunks of cash on super expensive equipment dedicated to mining bitcoins while consuming the amount of energy that could power substantial apartment blocks.
How does mining without investment work?
There are broadly two ways to mine bitcoins without investing. These are:
- Bitcoin Mining browsers
- Cloud Mining
Let us dig a bit deeper and understand their functioning.
A. Bitcoin Mining Browsers
As the name suggests, mining browsers are specially built browsers used for crypto mining. Though you won't see much difference at first, just like any internet browser you use in your daily lives to do tasks, you can even binge-watch your favorite Netflix shows while your browser mines bitcoins for you! The only catch is that while you are immersed in your TV show, your browser will be leveraging the power of your computer to mine bitcoins. It seems out of sci-fi, doesn't it?
Some Mining browsers that you can use
Let us dig a bit deeper into the world of bitcoin mining browsers and have a look at some legitimate bitcoin browsers that you can use to mine bitcoins without investment. Here are some of the browser options that you can choose from:
1. Crypto-Tab Browser
Widely regarded as the first of its generation, the crypto-tab browser is simple. You need to use the browser to do your regular browsing while the browser mines bitcoins for you. Crypto tab browser is known amongst bitcoin mining circles as one of the safest mining browsers as it's 100% genuine to use.
Even though the developers of this software do claim that it assures no overheating or battery drain, it is doubtful that a power-intensive work like bitcoin mining doesn't impact your system or its CPU.
2. Minter Browser
Focusing on privacy, green energy, and cryptocurrency all at once, Minter is the browser for this generation. Developed by Block Mint Ltd., Minter comes with default pop-up and ad-blockers while using your system to mine cryptocurrency. That is not all, Minter also lets you earn carbon credits to offset your carbon footprint, and it also gives you an option to own fractions of NFTs with the reward you deserve while browsing the internet.
Pros and Cons of Bitcoin Mining browsers
Like everything else in this world, this too has both pros and cons; let us have a look at them.
Pros of Bitcoin Mining browsers:
- Bitcoin Mining browsers let you mine bitcoin with literally zero investment.
- You have to pay a fee on whatever you earn and not any upfront fee.
- Easy way to mine bitcoins as all you have to do is use the browser like you use any other browser.
- It may well prove to be a modest source of side income if you work on the internet all day.
Cons of Bitcoin Mining browsers:
- Bitcoin mining is power-intensive; these browsers can suck all the power off your system.
- Bitcoin mining browsers will use up all the RAM of your system; thus, you'll not be able to multitask.
- Your system may eventually become slow because of all the power and memory being used towards the mining operations all the time.
- If you don't have a robust configuration, the bitcoin mining browser may affect your CPU because your system will have to input close to 100% of power because of mining.
B. Cloud Mining
In case you don't want to risk damaging your desktop's hardware and don't usually mind paying a premium for the mining services you use, cloud mining may well be an option for you.
What is cloud mining?
Cloud Mining, like its name, is the process of mining cryptocurrencies and altcoins using the power of cloud computing. Now how does that work? First, you must utilize a remote data center with shared processing power.
Cloud mining enables the user to perform bitcoin mining without managing or even owning any massive and expensive machines used in operation. In this kind of mining, the mining rigs are housed within remote data centers owned and operated by mining companies. When you subscribe to such services, which are generally paid, you are allotted a part of the data center. There you remotely share the processing power of your part to mine for cryptocurrencies. Since there is a subscription cost attached, the returns are usually lower than, for example, bitcoin faucets.
That is why nowadays, some websites offer you what they call "free cloud mining." While the mining operation in itself isn't free, what these websites do is that they take a set amount or percentage depending on the amount of bitcoin you have earned through mining. This way, you don't have to pay a fee upfront while the company makes for the service it provides to you.
Some of the best websites to do cloud mining
Cloud mining is offered by thousands of websites on the internet today. However, not all of them are legitimate with reasonable goals and intentions. Therefore, it is crucial to identify the genuine websites from the fake ones so that you can save yourself from being scammed and from various kinds of phishing attacks and viruses from entering your system. Here is a comprehensive list of some of the most trusted cloud mining websites to mine bitcoins:
StormGain is one of the simplest cloud mining platforms around the internet. It has a single-click mining process, and what's more? It doesn't eat into your PC. Moreover, it is an all-in-one platform to mine, trade buys, and exchange any cryptocurrency. All said and done, here's the catch for this platform:
- A mining session on StormGain lasts for about 4 hours, so you'll have to activate the miner every four hours by yourself.
- If you are not trading on StormGain, your yield can be as low as 0.5 USDT per session.
- Your yield depends on your trading levels which can go up to 75,000,000 USDT traded per month. You can get a mining income of around 16,000,000 USDT per month if you have such volumes.
- All the fees related to trading, exchanging, and withdrawing are based on the coin type.
StormGain has an application on both IOS and Android. You can also access StormGain on the Web.
Slushpool is one of the excellent cloud mining sites if anyone is looking for pool mining. A Pool mining platform is one where all the miners combine their computational resources to increase the probability of finding cryptocurrency.nSlushpool is one of the veteran websites for pool mining, with the platform mining around 3.5% of all the bitcoins in the world.
Slushpool charges an official 2% pool fee. With a minimum payout being 0.001 BTC, you have to pay a fee of 0.0001 BTC in case your transactions are lower than 0.01 BTC. Slushpool is accessed through the Web, although it has an app for both app stores to manage your account. With servers listed all over China, the USA, Japan, Singapore, and Europe, Slushpool is an excellent platform to start your crypto journey.
Ecos is a full-fledged platform dedicated to crypto investment. It has a crypto exchange, mining contracts, crypto portfolios for investors, and a wallet. Available on your mobile as a convenient application, Ecos is the way to go if you want to do it all. Create a cloud mining contract ranging from $75 to $50000 valid for anywhere between 15 months and 50 months, and let them host your mining activities on their local server. You will get your regular mining derivatives shipped to your address. Also, you get a 1-month free cloud mining contract to try it out!
HashCity is a huge crypto mining platform with an option to mine 14 cryptocurrencies. The best part about this one is that there is no payout feel and only a mere 1% pool fee. In addition, you get comprehensive guides to set up mining on Hashcity while you also get an Android app to manage your mining and a Telegram channel for Pool members for support.
It is perhaps a unique platform to mine bitcoins on the internet. They offer a crypto operating system that requires no mining setup. While Coinfly doesn't have its crypto pools, it connects you to other crypto pools to avail their services. Since crypto mining highly depends on the pool, your payout duration also depends on the pool you have joined. The best part about Coin Fly is that it's free of cost.
While it may seem like a far-fetched dream to mine bitcoins without investment, it isn't one. It would help if you were careful about the legitimate platform you choose so that it doesn't end up hurting your system more than what you gain from it. Even though mining bitcoins for free is a reality, don't expect huge payouts. So in case you are looking to earn a modest income from mining bitcoins, it will take some time for you to be able to gain the required expertise and resources to be able to do so.