When we say “Bitcoin Millionaire”, we are referring to how many sats or satoshis a person holds. To attain the rank of a Bitcoin Millionaire for free, it is important to first understand that Bitcoin can be broken up into smaller units or fractions. There will only be 21 million Bitcoin in existence, but many are unaware that there will also only be 2.1 quadrillion satoshis. We are all in the most fortunate position right now because a million satoshis is affordable for most of the world today. If you currently hold the keys to 1% of 1 Bitcoin, you will forever be known as a Bitcoin Millionaire.
What is a satoshi?
One satoshi, or more commonly known as a “sat”, is worth a hundred millionth of 1 BTC or 0.00000001 BTC. The origins of the term come from a bitcointalk user who went by the name of ribuck. They felt that in order to easily communicate the prices of everyday items, it was necessary to have a denomination similar to cents for the dollar rather than use percentages or fractions for Bitcoin. Many Bitcoiners continue to use the term today for convenience and to pay homage to the anonymous creator(s) of Bitcoin, Satoshi Nakamoto. When the time comes, there may be a need for a smaller unit of account. There is a growing group who are advocating this micro-sat to be called “hals” or a “hal” for Hal Finney, who is the first recipient of Bitcoin and formerly a leading contributor to the Bitcoin ecosystem.
How do I earn satoshis for free?
At some point in the future, there will be generations who inherit Bitcoin from their older relatives or be lucky enough to be gifted portions of Bitcoin. Most people will either earn or buy Bitcoin in the coming years to take part in the largest wealth transfer of human history. However, a very small percentage will participate in obtaining free Bitcoin. We want our readers to take full advantage of all the platforms that reward their users in digital scarcity as well as have it be worth their time. The free satoshis currently being rewarded may not seem like much today, but in the future they will be worth more than the small effort put into acquiring them. Keep in mind that the list below gives our readers opportunities to accumulate Bitcoin through activities that they would already be participating in.
Below are a few of our favorite choices that will help mint more sovereign Bitcoin Millionaires:
1. Fold App
Experience the evolution of rewards through daily purchases with Fold’s sleek design and easy to use interface where the only requirement is an email address. The company has plans to release a debit and credit card with instant Bitcoin rewards. For the time being, any Mastercard or Visa card may be attached to your account in order to buy gift cards that will be instantly redeemed upon purchase. Their current sign up bonus gives you at least 20,000 sats and the discounts currently being offered are astronomically better than most offers from traditional credit card programs. There is also an extensive list of stores that have partnered with the company. Here are a few of the popular ones with their current discount rates; Converse 8%, Gap 8%, REI 8%, Chipotle 5%, Amazon 4%, Hotels.com 4%, Nintendo 4%, Southwest Airlines 3%, Lowe’s 3%, and dozens more. Discounts may also be increased with their cool “Spin for Sats” feature.
Lolli is one of the largest Bitcoin rewards platforms and currently offers discounts for over 800 retailers (depending on your area). Lolli and Fold are the perfect compliment for one another in order to maximize your savings. Essentially, the two companies cover about 99.99% of everyone’s purchases. If there is an item not listed, the wait for more choices is closing quickly. In the next few years, most retailers will be available on a Bitcoin rewards platform. Lolli provides discounted rates on products and services via their streamlined Chrome extension. Some of their most recent discounts include; Harry’s 27%, Udemy 18%, Ancestry.com 13.5%, Babble 13.5%, Groupon 10.5%, Adidas 7%, Booking.com 7%, and Chewy 7%.
Earncarrot is a new entrant in the Bitcoin rewards space that allows you to earn sats through various tasks and can be completed at your convenience. Any businesses offering services and products are eligible to sign up. Once they are part of the Earncarrot community, companies will be able to reward their customers with free satoshis through the platform. Earncarrot also has surveys that reward their users with sats by providing their opinion on certain topics. There is even a bounty for programmers to contribute to the Bitcoin Core source code. More features and earning opportunities are in the works, keep an eye out for this beloved project.
If you have some time to kill or are just really good at video games in general, this is right up your alley. Be aware that you must already have satoshis in order to participate. Luckily, the amounts required to play are still very affordable for most people in the world. The site’s incentive structure is performance based. No outrageous mods or advantages that can be bought. It is a purely skill-based economy built on top of the Lightning Network. More games are currently in the works but there should be enough already on the platform to wet your appetite.
5. Referrals for Exchanges or Hardware Wallets
This is a category all on its own. One of the best ways to earn free Bitcoin is to refer your friends, colleagues, family members, and even enemies to an exchange or hardware wallet company with a referral code or link. Cash.app has the smallest barrier to entry for buying Bitcoin. With every referral, you and your friend will each receive cash that can quickly be converted to Bitcoin. Refer to the list of exchanges in your territory and check to see if they have a referral program.
I am already signed up for everything listed, now what?
Chances are you’re probably already a Bitcoin Millionaire. A truly commendable effort and triumph. About 27% of the world has the opportunity to do so but most will not act until it is too late. Make sure you have at least one million satoshis so that you will benefit from being extremely early in the revolution. Stay the course and continue accumulating as much Bitcoin as possible before the next bull run.