Believe it or not it is possible to get free Bitcoin on Coinbase and in this short post I’m going to be showing you exactly how you can do this. How much free bitcoin can you get? Well technically there is no limit, but as you will see it’s not as great as it may seem. While you can keep receiving free bitcoin over and over again, the majority of people out there will not be able to do this realistically… They just won’t have the means to do so.
But before I get into how all this works and how you can get free bitcoin I first want to give a brief summary of what Coinbase is real quick just in case anyone reading this doesn’t know. If you are already well aware of what Coinbase is and you can skip ahead.
What Coinbase Is In a Nutshell
Coinbase is a cryptocurrency exchange that allows users to buy and sell cryptocurrencies such as Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. They are one of the most popular exchanges out there and for good reason. For one, the exchange is very user-friendly. It is well laid out and easy to use making it a simple process for people to buy their first cryptocurrency. Additionally, users are able to buy cryptocurrencies with fiat money such as USD, EUR, and GBP with credit/debit cards as well as bank transfers.
This exchange is often used for “on boarding” into the world of cryptocurrency, meaning that many people purchase their first Bitcoin, Ethereum, etc. here because of its simplicity and its available payment methods. And I guess another reason why so many people use Coinbase is because of the trust factor. Coinbase is well trusted. They are one of the more transparent cryptocurrency exchanges that exist and because they are based in the US they are subject to more strict regulations then many other exchanges which means they aren’t going to just run away with your money.
How You Can Get Free Bitcoin at Coinbase
The way that you can earn free bitcoin at Coinbase is through their referral program, which is where the reward people for joining and reward the person who got that person to join. So for example if you don’t have a Coinbase account and want to create one you could use my referral link and earn $10 in free bitcoin. In addition I would also earn $10 in free bitcoin.
I’ll show you how it works. The screenshot below shows the dashboard of my account. If I go over and click on the drop-down menu under my name you will see a link you can click on to invite friends and get $10…
You will then be taken to this page where it tells you “invite friends and get free bitcoin”, and as you can see I have referred six friends to Coinbase already and have earned 0.005726 BTC and rewards.
The catch is however that the person you refer to join has to buy or sell at least $100 in cryptocurrency before both people are rewarded with $10 and bitcoin. So you could use my referral link now in joint but you wouldn’t get anything, nor would I, until you buy or sell $100 worth of currency. Once you do buy or sell that amount both you and I would be rewarded with $10 of free bitcoin.
Join & Get $10 Once – Refer People & Get $10 Unlimited Times
So if you wanted to you could join Coinbase through my referral link here: coinbase.com/join/594920f8d3b8750f59fb8373, get paid $10 when you buy/sell $100 in cryptocurrency and then refer others to join to earn $10 every time, which you could do an unlimited number of times.
Above you can see I drew two arrows. The one points to your referral link. This is the link that you can use to get people to join Coinbase through that will give you credit for them joining. And below that is a place where you can put someone’s email address, click the “invite” button, and it will automatically send them an email inviting them to join through your referral link.
Sounds easy enough right?… Well it isn’t
Most people aren’t going to be able to make much money doing this. Just think about it… How are you going to get people to join? You can post your referral link on social media, such as Facebook and Twitter, but really how many people are going to see that click your link? Or you can send people you know emails, but how many people do you really know that are going to want to join Coinbase and buy cryptocurrency?
Unless you have a massive social media following where you can make a post and have tons of people seeing it, or if you have your own website with lots of visitors, you likely aren’t going to make much money doing this. But I guess it’s nice that you can at least make little bit of money with it… Right?
Where Does The Money Come From In The First Place?… This Sounds Fishy
Coinbase makes their money through fees. When you buy or sell cryptocurrency through Coinbase you will get charged a fee for their service. This is how they make the majority of their money at least.
Unfortunately, Coinbase charges some pretty high fees compared to other cryptocurrency exchanges out there. If you buy with a credit/debit card you it charged around a 3.99% fee and if you buy/sell with a bank transfer you it charged a 1.49% fee. So for example if you were to purchase $100 worth of bitcoin with a credit/debit card you will get charged $3.99 in fees and if you do the same thing with a bank transfer you it charged $1.49 in fees. The fees will vary a bit depending on where you live but overall there pretty high.
Why are the fees high?
Well because of several reasons. First off, as I went over at the beginning of this post, Coinbase makes things very simple and straightforward for users. This simplicity and well laid out platform comes at a cost. They also provide some pretty good support and even have a phone support line where you can talk to a live person.
And of course they have to charge somewhat high fees if they are going to be giving out free bitcoin with a referral program like this right?
So yes they do charge high fees but I wouldn’t call them a ripoff…there is a reason for this.
Thinking About Joining?
If you are thinking about joining Coinbase I would appreciate it if you would use my referral link. This way both you and I will be able to get $10 for free in bitcoin. It would help support my site here so I can keep providing truthful in good information in the realm of cryptocurrency.
My Referral Link Here: coinbase.com/join/594920f8d3b8750f59fb8373
And now you know what people are talking about when you see posts about being able to get free bitcoin from Coinbase. Yes, you can get free bitcoin but it is not nearly as good as it seems. It’s not like you just enter your name on some list and get some free bitcoin.
If you have any questions comments or concerns please leave them below and I’ll get back to you when time permits 🙂 I hope you found this post helpful and informative.
If you are interested in learning more about Coinbase you can read my full review here where I’ll go over everything you need to know.