What is Bitcoin?
Bitcoin can be referred to as a new mode of transaction using digital currency. It is an innovative payment network that uses end to end technology to operate. Bitcoins have no central authority and is operated independently. It is part of a network that shares a public ledger known as the ‘Block Chain’. Bitcoins can either be mined using specialized software and hardware or exchanged from one individual to the other or can be rewarded via mining sites like freebitco.
How are bitcoins acquired?
Bitcoins need a proper medium to be exchanged from one user to the other. This can be done in the following ways.
- Mode of payment – Goods, and services can be purchased through digital currencies such as bitcoins.
- Bitcoin exchange or competitive e-mining – Visit an online space where you can either exchange bitcoin for some sum of money or simply play games or take part in competitive activities and get rewarded in the form of bitcoins. For instance, freebitco is one such site.
- Bitcoin vendors – There are people across the internet who claim to sell bitcoins for a sum of money. Pay through your e-wallet, PayPal, or credit card, and get bitcoins in exchange.
Does sites like freebitco prove beneficial?
There arevarious benefits when it comes to sites like thisin terms of rewarding people with bitcoins. Some of which are: –
- Refer and Earn – Probably the easiest way to earn bitcoins is to refer the site to other people, after every successful account creation from referrals, you get a chance to win bitcoins.
- Play Games – There are various games inside the sites, winning contests associated with a particular game helps you win bitcoins.
- Lotteries and Contests – There are regular lotteries and contests held. If you are lucky, you might get a chance to earn big rewards.
There are several other benefits of using this site, and each could result in rewards such as lumps of bitcoins or exclusive rewards. Explore the site to know more about it.