FreeBitcoin

FreeBitcoin is an online bitcoin faucet founded in 2013 which enables users to earn up to $200 every hour along with other big contests and prizes. The most popular feature of FreeBitco.in is its provably fair HI-LO dice game, which is a simple way to multiply your bitcoins.

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About FreeBitcoin

Loaded with Features and Contests

FreeBitco.in is an online bitcoin faucet founded in 2013 which enables users to earn up to $200 every hour along with other big contests and prizes.
This HI-LO game is designed using a combination of both math and cryptography where all you need to do is bet HI or LO and multiply your bitcoins by up to 4,750 times.

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Featured Faucet

Coin Faucet

The CoinFaucet supports 851 different cryptocurrencies and more in the future. Earn unlimited cryptocurrency from any internet connected device. Below are the most valuable cryptocurrencies you can earn at CoinFaucet.

Bitcoin (BTC)

Price $44087
Minimum withdrawal: 0.001 BTC

Yearn Finance (YFI)

Price $21342
Minimum withdrawal: 0.001 YFI

Wrapped Bitcoin (WBTC)

Price $44098
Minimum withdrawal: 0.001 WBTC

Ethereum (ETH)

Price $3141.69
Minimum withdrawal: 0.02 ETH

Maker (MKR)

Price $2019.91
Minimum withdrawal: 0.01 MKR

Bitcoin Cash (BCH)

Price $362.32
Minimum withdrawal: 0.1 BCH

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A BRIEF ON FREEBITCO.IN

FREEBITCO.IN is the one of the largest bitcoin gaming websites and the seventh-largest online casino ( Source Similarweb.com) in the world. As regulatory headwinds seek to restrict fiat currency gaming, more and more players are transitioning to crypto gaming. Bitcoin gaming holds dominance in this market and so does FREEBITCO.IN.

AUTOMATIC

FREEBITCO.IN is built upon a fully automated, proprietary tech-stack that seamlessly regulates the activities of 40 million users daily.

TRANSPARENT AND RETENTION

Every action at FREEBITCO.IN is provably fair and can be verified; users can also view pertinent data with ease. This trustless ecosystem combined with a unique hybrid freemium model ensures a 75% retention rate at FREEBITCO.IN.

POTENTIAL

Over 2.8 million new sign-ups and $600 Million Wagered in 2020 with a 30% Year on Year Growth promises massive investment potential in the FUN Token via the FREEBITCO.IN Premium Membership program.

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Have Any Question?

Fequently Asked Question

Find answers to recurring questions and myths about Bitcoin.

What is BITCOIN?

As its inventor Satoshi Nakamoto described it, bitcoin is a peer-to-peer electronic cash system. It is a decentralized digital currency without a central administrator, bank or controlling authority. It can be sent or received on an international peer-to-peer network without the need for middlemen or intermediaries.

It is denoted by the symbol BTC, and the bitcoin value is the highest of any cryptocurrency in the world. However, it’s important to understand bitcoin isn’t just a form of currency; it is a payment system that allows users to send verifiable payments to each other electronically and in a secure manner, without the presence of a central authority. All transactions are stored in a public ledger called the “blockchain” which contains all transactions ever processed on the bitcoin network.

Released as open-source software in 2009, Bitcoin is often credited as the world’s first cryptocurrency and is best defined as a digital currency that only exists electronically. Bitcoin is decentralized, meaning it doesn’t have a central issuing authority or political institution that controls the amount of bitcoin in circulation. But the Bitcoin platform is far from anarchy.

Who created Bitcoin?

Bitcoin is the first implementation of a concept called "cryptocurrency", which was first described in 1998 by Wei Dai on the cypherpunks mailing list, suggesting the idea of a new form of money that uses cryptography to control its creation and transactions, rather than a central authority. The first Bitcoin specification and proof of concept was published in 2009 in a cryptography mailing list by Satoshi Nakamoto. Satoshi left the project in late 2010 without revealing much about himself. The community has since grown exponentially with many developers working on Bitcoin.

Satoshi's anonymity often raised unjustified concerns, many of which are linked to misunderstanding of the open-source nature of Bitcoin. The Bitcoin protocol and software are published openly and any developer around the world can review the code or make their own modified version of the Bitcoin software. Just like current developers, Satoshi's influence was limited to the changes he made being adopted by others and therefore he did not control Bitcoin. As such, the identity of Bitcoin's inventor is probably as relevant today as the identity of the person who invented paper.

How does BITCOIN work?

In order to understand what bitcoin really is, it’s necessary to understand how it really works, and in order to understand that, let’s take a look at the characteristics of the popular cryptocurrency that differentiates it from digital versions of the traditional forms of currency (dollars, pounds etc.) or “fiat currency:”

Bitcoin's Special Characteristics

Decentralization

No one controls the bitcoin network. The network is maintained by a group of coders and run by a dedicated and distributed open-network of computers that spans the entire world. Banks and financial institutions are responsible for maintaining the integrity of transactions when it comes to digital fiat currencies, but in the case of bitcoins, the distributed open-network does that job.

Limited Supply

Electronic versions of fiat currencies are the same as the physical ones: they have an unlimited supply. Banks control the influx of these currencies and their values relative to other currencies. Bitcoin is completely different: only 21 million bitcoins can ever be created. The algorithm that runs the cryptocurrency issues a small amount of new bitcoins every hour, and will continue to do so at diminishing rates until the 21 million cap is reached.

Micro-transactions

The smallest unit of a dollar is a cent, which is 1/100th of a dollar. Do you know the smallest unit of a bitcoin? It’s called a Satoshi, and its value is 0.00000001 BTC or 1/100000000th of a bitcoin. This opens up opportunities for micro-transactions that are not possible with electronic fiat currencies like the dollar.

What is a BITCOIN Miner?

As much as cryptocurrency mining was originally designed to be something everyone could do with their home computer, those days are long gone. Today, whether you’re mining Bitcoin, Litecoin, DASH, or a host of other cryptocurrencies — the most effective way to do so is with a piece of hardware known as an ASIC miner.

It’s not a desktop PC or a dedicated graphics card mining rig — it’s something else. Application specific integrated circuits, or ASICs, are chips that are designed with a singular purpose, ranging from audio processing to managing a cellphone call. In the case of cryptocurrency mining though, these chips are built into specifically-designed motherboards and power supplies, constructed into a single unit. It’s not just a purpose built machine though, it’s purposely designed and developed hardware right down to the chip level.

Who controls the Bitcoin network?

Nobody owns the Bitcoin network much like no one owns the technology behind email. Bitcoin is controlled by all Bitcoin users around the world. While developers are improving the software, they can't force a change in the Bitcoin protocol because all users are free to choose what software and version they use. In order to stay compatible with each other, all users need to use software complying with the same rules. Bitcoin can only work correctly with a complete consensus among all users. Therefore, all users and developers have a strong incentive to protect this consensus.

Bitcoin Security

Bitcoin Security Information.

Is Bitcoin secure?

The Bitcoin technology - the protocol and the cryptography - has a strong security track record, and the Bitcoin network is probably the biggest distributed computing project in the world. Bitcoin's most common vulnerability is in user error. Bitcoin wallet files that store the necessary private keys can be accidentally deleted, lost or stolen. This is pretty similar to physical cash stored in a digital form. Fortunately, users can employ sound security practices to protect their money or use service providers that offer good levels of security and insurance against theft or loss.

Hasn't Bitcoin been hacked in the past?

The rules of the protocol and the cryptography used for Bitcoin are still working years after its inception, which is a good indication that the concept is well designed. However, security flaws have been found and fixed over time in various software implementations. Like any other form of software, the security of Bitcoin software depends on the speed with which problems are found and fixed. The more such issues are discovered, the more Bitcoin is gaining maturity.

There are often misconceptions about thefts and security breaches that happened on diverse exchanges and businesses. Although these events are unfortunate, none of them involve Bitcoin itself being hacked, nor imply inherent flaws in Bitcoin; just like a bank robbery doesn't mean that the dollar is compromised. However, it is accurate to say that a complete set of good practices and intuitive security solutions is needed to give users better protection of their money, and to reduce the general risk of theft and loss. Over the course of the last few years, such security features have quickly developed, such as wallet encryption, offline wallets, hardware wallets, and multi-signature transactions.

Could users collude against Bitcoin?

It is not possible to change the Bitcoin protocol that easily. Any Bitcoin client that doesn't comply with the same rules cannot enforce their own rules on other users. As per the current specification, double spending is not possible on the same block chain, and neither is spending bitcoins without a valid signature. Therefore, it is not possible to generate uncontrolled amounts of bitcoins out of thin air, spend other users' funds, corrupt the network, or anything similar.

However, powerful miners could arbitrarily choose to block or reverse recent transactions. A majority of users can also put pressure for some changes to be adopted. Because Bitcoin only works correctly with a complete consensus between all users, changing the protocol can be very difficult and requires an overwhelming majority of users to adopt the changes in such a way that remaining users have nearly no choice but to follow. As a general rule, it is hard to imagine why any Bitcoin user would choose to adopt any change that could compromise their own money.

Is Bitcoin vulnerable to quantum computing?

Yes, most systems relying on cryptography in general are, including traditional banking systems. However, quantum computers don't yet exist and probably won't for a while. In the event that quantum computing could be an imminent threat to Bitcoin, the protocol could be upgraded to use post-quantum algorithms. Given the importance that this update would have, it can be safely expected that it would be highly reviewed by developers and adopted by all Bitcoin users.

Advantages and Disadvantages

What are the advantages of Bitcoin?

Payment freedom

It is possible to send and receive bitcoins anywhere in the world at any time. No bank holidays. No borders. No bureaucracy. Bitcoin allows its users to be in full control of their money.

Choose your own fees

There is no fee to receive bitcoins, and many wallets let you control how large a fee to pay when spending. Higher fees can encourage faster confirmation of your transactions. Fees are unrelated to the amount transferred, so it's possible to send 100,000 bitcoins for the same fee it costs to send 1 bitcoin. Additionally, merchant processors exist to assist merchants in processing transactions, converting bitcoins to fiat currency and depositing funds directly into merchants' bank accounts daily. As these services are based on Bitcoin, they can be offered for much lower fees than with PayPal or credit card networks.

Fewer risks for merchants

Bitcoin transactions are secure, irreversible, and do not contain customers’ sensitive or personal information. This protects merchants from losses caused by fraud or fraudulent chargebacks, and there is no need for PCI compliance. Merchants can easily expand to new markets where either credit cards are not available or fraud rates are unacceptably high. The net results are lower fees, larger markets, and fewer administrative costs.

Security and control

Bitcoin users are in full control of their transactions; it is impossible for merchants to force unwanted or unnoticed charges as can happen with other payment methods. Bitcoin payments can be made without personal information tied to the transaction. This offers strong protection against identity theft. Bitcoin users can also protect their money with backup and encryption.

Transparent and neutral

All information concerning the Bitcoin money supply itself is readily available on the block chain for anybody to verify and use in real-time. No individual or organization can control or manipulate the Bitcoin protocol because it is cryptographically secure. This allows the core of Bitcoin to be trusted for being completely neutral, transparent and predictable.

What are the disadvantages of Bitcoin?

Degree of acceptance

Many people are still unaware of Bitcoin. Every day, more businesses accept bitcoins because they want the advantages of doing so, but the list remains small and still needs to grow in order to benefit from network effects.

Volatility

The total value of bitcoins in circulation and the number of businesses using Bitcoin are still very small compared to what they could be. Therefore, relatively small events, trades, or business activities can significantly affect the price. In theory, this volatility will decrease as Bitcoin markets and the technology matures. Never before has the world seen a start-up currency, so it is truly difficult (and exciting) to imagine how it will play out.

Ongoing development

Bitcoin software is still in beta with many incomplete features in active development. New tools, features, and services are being developed to make Bitcoin more secure and accessible to the masses. Some of these are still not ready for everyone. Most Bitcoin businesses are new and still offer no insurance. In general, Bitcoin is still in the process of maturing.

What Is a Bitcoin Wallet?

Bitcoin Wallet
Bitcoin, for all its intents and purposes, is a digital currency. It does not exist in physical form and hence cannot be stored physically. In order to store bitcoins, you need a bitcoin wallet. Technically speaking, you don’t store bitcoins in the wallet; here’s how it works – every person that owns bitcoin has a bitcoin address, and every bitcoin address can be accessed using a secret ‘private key,’ and this private key is stored in the bitcoin wallet. This allows the user to send, receive and own bitcoins using a bitcoin wallet.

How to Get a Bitcoin Wallet?
You must be full of questions like, “how to make a bitcoin wallet?”, “how to setup a bitcoin wallet?”, or “how to create a bitcoin wallet?” There’s no single way to setup a bitcoin wallet, since there are several different types of bitcoin wallets in existence. In order to understand how you can get a bitcoin wallet for yourself, you need to understand the types of wallets and how effective they are in helping you store bitcoins. Let’s take a look at the types of bitcoin wallets below.

Paper Bitcoin Wallet

A bitcoin paper wallet is probably the safest option when it comes to susceptibility to hack attacks and malware. It is a piece of paper that has a bitcoin wallet address where you can receive bitcoins and a private key which you can use to send bitcoins. Websites like BitAddress allow you to create a randomized public address and private key which you can then print and use immediately. Obviously, while paper wallets are impervious to digital threats, it is important to protect the piece of paper from real-world threats and theft. It is a free bitcoin wallet.

Online Bitcoin Wallet

Web wallets are one of the most commonly used types of wallets in the community. An online bitcoin wallet stores your private key in a server owned by the company that offers such services. Different companies offer different features, and web wallets allow you to access your bitcoins anywhere and anytime. The downside is that the security of your web wallets lies completely with the company.

Desktop Bitcoin Wallet

A desktop wallet is a software you download and install onto your computer. This type of wallet stores your private key and other pertinent information on your hard drive. This makes it more secure than web wallets since you don’t have to rely on another company to keep your wallet safe. These are a great solution for beginners and traders that own a small amount of BTC.

Mobile Bitcoin Wallet

Like a desktop wallet is a software on a computer, a mobile wallet is an app on your smartphone. This app stores your private keys on your smartphone and allows you to pay for things or transfer bitcoin directly from your phone. Just like web wallets, they are an easy-to-use, convenient solution for on-the-go bitcoin transactions, but are quite vulnerable to hack attacks.

Hardware Wallet

A bitcoin hardware wallet stores your private keys in a secure hardware device. This is the most secure way to store bitcoins. Hardware wallets are unaffected by viruses and can be used securely to transfer bitcoin. Unlike the others, this is not a free bitcoin wallet. Buy a model from a trusted manufacturer, like the Ledger Nano S or the Trezor White, and you’ll be all set to transact bitcoins.

What Is the Best Bitcoin Wallet?
You must be wondering which bitcoin wallet to use after reading about them in detail above. Choosing the best bitcoin wallet is easy – all you have to do is take into account your requirements, your store of bitcoins, your budget (if any) and your future plans with the cryptocurrency. If you’re a beginner, a web wallet or a desktop wallet should be enough for you to store your first bitcoin. If you fear hackers and have trust in your ability to protect a piece of paper at all times, a paper wallet is a great option. If you have been doing this bitcoin thing for a while and are looking for a wallet upgrade, there’s no better option than investing a couple hundred bucks and getting yourself a hardware wallet. There are plenty of amazing options to choose from, so choose wisely. All in all, choosing the best bitcoin wallet is dependent on you.

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FreeBitcoin Spotlight

FreeBitcoin has already distributed a significant number of bitcoins to users as rewards for the free BTC feature on its website. You can effortlessly withdraw your FreeBitcoin balance to your bitcoin wallet too.

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Testimonial

Our Testimonials

Apart from the Bitcoin use case, cryptocurrency serves an important role in the blockchain eco-system unrelated to its perceived substitutability for cash.

“Bitcoin is a very exciting development, it might lead to a world currency. I think over the next decade it will grow to become one of the most important ways to pay for things and transfer assets.”

Michele Miller

Project Manager

“Bitcoin is amazingly transformative because it’s the first time in the entire history of the world in which anybody can now send or receive any amount of money, with anyone else, anywhere on the planet, without having to ask permission from any bank or government.”

Patricia Knott

Web Developer

“Bitcoin woke us all up to a new way to pay, and culturally, I think a much larger percentage of us have become accustomed to the idea that money no longer comes with the friction it once had.”

Justin Ramos

Web Developer

“There may be other currencies like it that may be even better. But in the meantime, there’s a big industry around Bitcoin.”

Mary Huntley

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“Bitcoin is the most important invention in the history of the world since the Internet.”

Aaron Newell

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“Bitcoin is a remarkable cryptographic achievement and the ability to create something that is not duplicable in the digital world has enormous value.”