How To Cloud Mine For Free And How To Grow Your Existing Coins?

This may sound like "too-good-to-be-true" sort of a deal, but here are some real options that you may have:

If You Have No Coins To Start With:

If you have absolutely no coins, as per my findings, you can get coins from the following sources:

1. Mine Coins: Mine some CPU-only Coins daily while you use your phone or computer. If you're a beginner, you may find MinerGate to be very useful -- it's worth checking out;

2. Online Coin Faucets: Look for faucet coin websites (although almost all of them seem like a scam to me or keep you locked in till you reach a certain threshold). I wouldn't recommend these as I tried a lot of them, if you know of some that are worthwhile do mention in the comments section below. A good place to start your search would be FaucetHub though.

3. Signup On EOBOT: You can signup on the cloud mining website EOBOT and it actually gives you free coins everyday when you login (what coin it gives you, is totally random) and they also have a Faucet section where they give you free BTC satoshi everyday! This may not seem a lot at first, but if you keep doing this for about a month, you may actually collect a few coins! Read the next section to see how you can reinvest those few coins!

4. Post on SteemIt: Build up reputation, and keep posting valuable content on steemit.com to earn good money :)! And you can followup with suggestions given below to grow your earnings;

5. Referrals / Affiliate Marketing: A lot of exchanges, cloud mining sites, and others in the business give good rewards for referrals, but this may not appeal to everyone.

6. Freelance Services: So I stumbled across a website that lets you freelance in exchange for bitcoins, called cryptogrind.com; for those with technical expertise, it may be a good platform to offer your services! Haven't tried it personally, so would love to hear your experience if you have, or are using it.

If You Have A Few Coins:

1. Lending: You can go on Poloniex and "Transfer Balance" to your "Lending" account and lend your existing coins for specified number of days and earn interest on it. For this, a good tool I've found is Poloniex Lending Bot which automates and handles everything for you (takes a fee from your interest though, and Poloniex takes a fee cut from your interest too!); You can also try lending BitConnect Coins (BCC) on BitConnect, they offer some very good interest rates, but your BCC coins are locked for a number of days based on the amount you invest!

2. Trading: This one is obvious, but keep trading; sell when a coin goes higher in value and buy when it dips in value. For this though you'll have to keep strict tabs on the market and what makes the market tick, and you'll have to stay in the loop constantly and make good trades. You could also setup auto-trades on various trading exchanges, but some of these may have a high fee.

3. Cloud Mining: You could either buy a small BitCoin contract on Genesis Mining** or HashFlare and keep reinvesting it to buy more hashing power for your BitCoin mining since BTC mining on both these sites are on an "open-contract" means you buy hashing power once, and they mine for you for as long as BTC mining is profitable! You may want to be aware of the fact that:

   a) they charge a maintenance fee every day from the BTC you earn;

   b) BTC has a big upgrade coming up on Aug 01, 2017 by Bitcoin Core developers (BIP 148) and they will be doing a hard-fork as mentioned on numerous articles on the web. However, they have said that the legacy BitCoin and the new one will work side-by-side, but many speculate the value of BTC can go up or down drastically following this. However, I personally believe we may see some fluctuation, but BTC will remain stable because it has become far too important and integrated to lose it's value completely at this point in time.

4. Cloud Folding & Cloud SETI On EOBOT: I've tried mining with EOBOT and it just isn't worth it, looks a bit scammy too! But, you could try a year worth contract of "Cloud Folding" or
   "Cloud SETI"; both basically mean you buy PPD (Points Per Day) or BPPD (BOINC Points Per Day) respectively, and mining resources are allocated on your behalf for medical research and you keep earning coins in return for a whole year. The difference between the two is the coin that you earn, for Cloud Folding you earn CURE coin and for Cloud SETI you earn GridCoin. I'm personally investing in Cloud Folding as CURE coin is higher in value.

5. Gambling: There are quite a few gambling sites popping up that are solely using cryptocurrency, but I wouldn't really trust them. I tried a few that give you a few satoshis to try your luck, but they don't let you cash out till you reach a certain threshold which is very hard to do! And all their efforts mostly seem geared towards encouraging you to "upgrade your power" to be able to gamble more, or something of the sort, so you are compelled or encouraged to invest some money into it. This all seems kind of shady to me, but on the flip side, they too have to make money from somewhere. If you know of some sites you think are legit, do mention in the comments section below.

6. Blockchain Lottery: As suggested by @kryptoknightk, True Flip, which in the company's words is a "fair and decentralized lottery platform that neither any nation state, nor a single authority, nor members of our team control." I think it looks promising!

7. Renting Mining Rigs Online: This is pretty much the same as Cloud Mining, I guess the difference is primarily that there isn't exactly a "contract" that bounds you for years. You can choose to rent hashing power and advertised mining rigs as per your hashing algorithm requirements for just a day or even a few hours. People who choose this option usually do it to boost their existing mining efforts in a pool. Notable sites that offer these services (in a marketplace sort of fashion) are NiceHash and Mining Rig Rentals.

Concluding Remarks:

These were a few ways I've come across to get free crypto coins and ways to grow them. If you know of some other ways, please do share, and up-vote if you like the article :)!

Last Updated: 04 July, 2017

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