Everybody enjoys a freebie, whether it’s finding a coin on the floor, getting a free item when it says ‘Buy one get one free’ or if somebody wishes to literally say, here is some money free!
But is their truly any way of getting free things in a world that nothing is free?
Is Freebitco.in a scam? Freebitco.in Review – We will go through the Pro’s and Con’s of this platform and see if we can actually get something for nothing!
What is Freebitco.in?
Freebitco.in is a website that has been around since 2013 and is one of the most popular bitcoin websites. they are essentially gambling using Bitcoin.
Every hour, you are eligible for a free spin of of the wheel. When you spin the wheel, your winnings will be determined by the number you get. Rewards shown here… —–>
This hourly event is in fact a freebie for the user!
Why is Freebitco.in giving away free money in the form of Satoshi? (part bitcoin)
The answer is relatively simple.
As i explained above, every hour, you are eligible to spin the wheel to earn free coins depending on the number outcome. You are always guarenteed a win, even if it is only 10 Satoshi
FYI $1 USD = aprox. 9,000 Satoshi.
This is a simple high/low game. You wager your Satoshi/Bitcoin on the outcome of the wheel. You can change the odds of winning to increase the reward at the end. After playing this using 1 Satoshi per bet. The game states that they are. What this means is that there is no way the site can cheat you by picking a number that is in our favour. Whilst i was playing, i didn’t think any reasons as to foul play.
This is as simple as going to your local book makers and making a bet on your favourite sport. The odds work exactly the same as a general gambling site, where it depends on the amount of money put in each way. For example, more people think that Manchester United will beat Southampton, so the odds naturally will be lower for the favourite to win.
We are starting to realize as to why they give away free coins now…
The Golden Ticket tab is where you are placed into a pool to win a BIG prize! The winner from the time this post was created, won a staggering 15 Bitcoins (Aprox. USD $270,000)
There are a few ways to gain tickets:
- You can purchase a ticket for 25,000 Satoshi ($5)
- If you wager a minimum of 500,000 Satoshi ($90) the platform gives you one free ticket.
This is essentially a bank! whilst you hold money within your account, Bitco.in will pay you interest that changes daily. The Annual interest rate is currently 4.08%.
How they are able to pay users this interest rate is due to a few reasons.
Firstly, the platform gains an income from the money lost by people wagering bets on their games. Some of the income will go towards their ever-growing Bitcoin mining operation.
They make a profit and assume the full risks of their businesses and in return for you saving your money with them, they give you a risk-free fixed rate of return.
The lottery feature is like any other lottery that you have ever played. You recieve 2 free lottery tickets everytime you spin the free BTC roll. However, you also have the option to purchase a lottery ticket for a mere 1 Satoshi.
As with all lottery’s, the more people that play, the larger the winnings.
the top 10 tickets win the partial pot. On average, what i can see, is that the 1st place prize is around 0.3Bitcoins ( USD $4,500)
To win this contest, you need to be in top 10 of people wagering on bets. This contest runs each month, with the roughly $21,600 pot getting split between the top 10 winners. 1st prize wins $10,000.
Winnings are also given to the winners from the referral stats as i will explain below.
As with most things, this platform is no different when it comes to bringing in new users. They do offer rewards when you invite your friends to use the platform.
There are a few ways a referrals can benefit the user.
- When your referral spins the free BTC roll, you will recieve 50% of the base prize. So for example, if your referral rolls and wins 100 Satoshi, you as the referrer will earn 50 Satoshi.
- If you referral decides to place a bet, or play the high-low game, 0.40% of the bet will be added to your balance.
- You also earn 25% of your referrals daily interest.
So as you can see, these figures do add up quite a lot.
The reward feature seems like it is a little more of a incentive for the user. Firstly, what is reward feature? You can exchange the points for prizes, such as, electronics (Mobile phones), vouchers, lottery tickets etc.
You receive 2 reward points every time you roll the free BTC wheel. Also, gaining 1 reward point every time your referral spins the wheel. Lastly, receiving 1 reward point for every 500+ Satoshi wager made in the multiply game.
The first question – Is Freebitco.in a scam? Freebitco.in Review shows that it is quite obviously not a scam… However, if you are planning to make your billions within the crypto world, this platform is probably not the way forward.
If you enjoy a bit of a gamble, you may love this platform! it can be quite an addictive experience.
Lastly, i believe the best feature within the platform is actually the referral part. This platform has the potential to earn a fair amount if you can invite a lot of active users!
I suggest, register free, press the button every now and again, then who knows? you may win $200!