Precautions when you earn free bitcoins

We often find people asking how to get free bitcoins? It is easy to make a list of ways to earn free bitcoins. However, none of these free ways are free of risks. Sometimes you even stand to lose more than you might earn.

So if you are serious about earning free bitcoins, know the risks you face with each free way that you may consider.

1- Malware and Viruses

Websites that offer you free bitcoins for small tasks like visiting advertisements or websites for a certain amount of time may contain malware and viruses. This also goes for apps and games that may offer some amount of bitcoin but could ruin your smartphone through harmful and malicious malware.

2- Investment Scams

These are plenty online and offer to double or triple your bitcoin money if you invest in them. Most of them claim to be genuine until they disappear from the web one day along with your bitcoins and the bitcoins of many others. So be careful if you plan to invest your bitcoins on an investment website.

3- Lending Scams

Some people make easy money by lending their bitcoins and earning interest on them. This looks like an easy way to make money especially since you can set your own interest rates. Actually, it is not. Most people would just take your money and run away. Since the transactions are online, there is hardly any way to find who took your money.

4- Trading risks

Trading has its own risks. While you may think yourself smart and trade-savvy, you never know how the markets may turn and you lose your bitcoins in the process. Unless and until you are someone who really knows the trade, it is not worth investing in the trading front.

5- Gambling risks

Gambling risks are not unknown. You stake your hard-earned bitcoins in the hope of making something extra and you end up losing the game. More often than not, people lose a lot in gambling games especially online where you don’t know if you are being fairly dealt with.

So, it’s better to be on the safe side. If you wish to earn free bitcoin, make sure you don’t ever risk more than you can afford to lose.