Review of "Freebitcoin" - Is it Scam or legit ? Check now !
Complete and detailed Review of Freebitco.in. Extensive Analysis of the many features including FREE BTC, Multiply, Lottery, Betting, and more.
Rating: ★★★★★ 5 Stars
- FREE BTC
- Golden Ticket
- Daily Jackpot
- Earn BTC
- Refer & Rewards
directly in your Bitcoin Wallet. A simple game where you can hit the number 10000 for the top prize after verifying that you aren't a Bot with google Captcha. From the beginning, you could also Multiply your Bitcoin in a High/Low Game which is provably fair and trackable through Seeds. Through the years Freebitcoin became more innovative and added Daily Accumulating Interest on Balances, Betting on many different things like Monthly Bitcoin Price Predictions, Lottery, and the Golden Ticket where one Lucky Winner gets a Lamborghini.
We have made a pretty good explanation of what every Single feature of Freebitcoin is, How to use it, and how to benefit from it.
The “Free BTC” feature is like the Name says, you can Claim every 60 minutes Free Bitcoin and yes, you heard it right, it's totally free. So every hour you have the chance to hit the number 10000 and get 200$ worth of Bitcoin. If we look at this from the other side you should hit the number 10000 every 10000 times which means it can be your first or also your last Roll. You also receive a certain number of Lottery Tickets & Reward Points for every free Claim. Personally I have made 4500 Claims so far and I got a 1-second prize already. The Freebitcoin Bitcointalk Topic of the biggest Wins proves every hater wrong since tons of people have gotten the number 10000 already. If you are one of those Winners you’ll get an extra 5$ in your Bitcoin Wallet if you post the proof of your Win in this Topic. Happy rolling !
You can multiply your bitcoins a simple provably Fair H/L Game. You can Bet a certain amount of Bitcoin on a number higher than 5250 or lower than 4750. Everything that is in between is a loss. You can place different Odds on your Bets which lets your hit number go up or down and give you a better chance to win. You can Multiply the Odds from x1.01 - x4750 plus you can select the Jackpot and win by rolling the number 8888.
How this game is provably fair ?
The Freebitcoin Betting feature is quite new and introduced in late 2019. You can bet here on various Events like Sports, Oscars, President Elections, or what the Bitcoin value will be by end of the month. The System is not a traditional betting System as it rewards you for being early into the bet with an extra called “Time Weight Multiplier” which works like on the picture below.
The Odds are not that important here since an Odd which is 1,20 on traditional betting bookmakers can be 1,05 on Freebitcoin but with the Time Weight Multiplier can make your Odd back up to 1,30 if you are one of the early betters.
Same as on the Multiply game you get 1 free lottery ticket and 1 reward points for every 0.00000500 BTC that you wager & 1 free golden ticket for every 0.00500000 BTC that you wager !
This lottery is provably fair. What that means is that there is no way Freebitcoin can cheat you by picking a lottery winner who they favor. All winners are picked randomly and the method for picking the winners is described below.
- At the beginning of each round, Freebitcoin generates a server seed for that round and shows everyone the SHA256 hash of this seed.
- When a lottery round has concluded, Freebitcoin makes a list of all user ids and their lottery tickets and sorts it in ascending order of the user ids.
- Freebitcoin then uses this list to assign ticket numbers for all tickets. For example, if user id 1 has 10 tickets and user id 2 has 20 tickets, then user id 1 will have ticket numbers 0 to 9 and user id 2 will have ticket numbers from 10 to 29. This is done for all users.
- Then the list containing the user IDs, tickets held by each user, and their ticket numbers are published in a text file. This file also contains the total number of tickets issued in the round and the server Seed for that round.
- An MD5 hash of this text file is calculated.
- Then the current bitcoin block number is recorded and a block number that is 12 blocks into the future is decided on. The block hash of this future block is used as a "client seed" ie. a seed that Freebitcoin is not aware of when the list in step 4 has been published.
- Then a tweet is made via the FreeBitcoins twitter account (https://twitter.com/freebitco) containing the link to the file generated in step 4, the MD5 hash of the file, and the future bitcoin block number as determined in step 6. Since tweets cannot be edited, only deleted, this will provide a timestamp for when the list in step 4 was made, which can be compared to check that the bitcoin block determined in step 6 is in the future ie. we do not know the block hash of this block when the list is generated.
- The winning ticket numbers will be calculated as described below:
- A string (STRING1) is created - "[SERVER SEED]:[BLOCK HASH]:[WINNING POSITION]".
- The SHA256 hash of STRING1 is calculated and the first 8 characters of this hash are taken (STRING2).
- STRING2 is converted to a decimal which gives us a number between 0 and 4,294,967,295 (NUM1).
- NUM1 is then multiplied by the (total number of tickets minus 1) and divided by 4,294,967,295 to get a number (NUM2) between 0 and the total number of tickets less 1.
- NUM2 is then rounded off to the nearest whole number which is the winning ticket number.
HOW IS THE SYSTEM FAIR?
The system described above that is used for picking the winners is provably fair because it has multiple safeguards in place to ensure that winners are picked randomly and fairly.
- Freebitcoin provides a SHA256 hash of the server seed when a lottery round starts. If FreeBitcoin changes the server seed at any time, the SHA256 hash of the new seed will not match the hash they provided earlier. After a round has ended and FreeBitcoin provides the server seed that will be used to pick winners, the hash of the seed they provide can be checked against the hash they provided originally and both should match.
- Freebitcoin uses a future bitcoin block hash as the "client seed" ie. a seed that we do not know of. All bitcoin block hashes are unique and nobody knows what the block hash of a future block will be until the block has been mined.
- Freebitcoin uses twitter to publish the future bitcoin block number, the list of users and their ticket numbers, and the MD5 hash of the user list. It provides a timestamp to check if the block hash that Freebitcoin uses is indeed in the future. Since tweets cannot be edited, only deleted - if Freebitcoin deletes the tweet after the future block has been mined and publishes a new one, it would be easy to catch them cheating by comparing the timestamp of the tweet and that of the bitcoin block. The timestamp of the tweet should always be lesser than the timestamp of the bitcoin block whose hash is used as the client seed.
- Freebitcoin provides an MD5 hash of the text file containing the list of users and their ticket numbers. If even a single character in the text file is changed after the MD5 hash in the tweet is published, the MD5 hash of the edited file will not match the MD5 hash provided
The Freebitcoin Daily Jackpot is a daily Wagering Contest where the User with the most Bitcoins Wagered in 24 hours wins the Jackpot in the Banner which automatically increases over the day.
The “Earn BTC” feature of Freebitcoin is special and they were the first Faucet that introduced this awesome feature. You earn 4.08% annually on your Balance as long as it is at least 0.0003 BTC. Freebitcoin calculates the profits every day at a random time & you will receive 0.0109589% on your balance every day!
The “Contest” on Freebitcoin is as unique as everything else. You don't get paid for referring tons of people, your Referrals need to Wager Bitcoins to make you a Winner.
There are 2 Contest
- Wagering Contest
In the Wagering Contest, you can win up to 10.000$ in
Bitcoin, yes 10K! All you have to do is to be 1-10th by end of the month.
- Referral Contest
In the Referral Contest, you can win up to 5.000$ in Bitcoin . Your Referrals Wager counts here and if you have a lot of Players under you it will be easy to win this.
The Contest was introduced at the end of 2018 and runs every month since then.
The “Lottery” on Freebitcoin is really huge with 200+ Million Tickets given every week. Same like all other things here this Lottery is “Provably Fair” through the algorithms we explained above in the “Lamborghini Lottery”
You can buy Lottery Tickets for 1 Satoshi per Ticket. The Tickets are based on Bitcoin price which means if Bitcoin falls under 5000$ the Ticket price will increase by 100% to 2 Satoshi per Ticket. But you don't need to buy the Tickets really since with 200+ Millions of Tickets the chance that you win is like in a regular Lottery and goes to zero. You earn these Tickets anyway with every free Claim you participate on Freebitcoin so as for every 500 Satoshi you Wager on Dice or Betting.
The “Referral Program” feature is simple like everything else that has an Affiliate Program. You basically have your own Freebitcoin Referral-Link which you can send to friends. Once they register with your Referral Link you will earn 50% Commission of all their Free Bitcoin Claim so as 0,4% of all their Wagered Bitcoins.
You have also some option to keep your Referrals motivated like Auto-Ref-Back which is an option to set an amount you want to share of your commission 1-100%.
The “Rewards Points” section is basically a Loyalty Program. We mentioned above that you do earn Reward Points for free claims and also for every 500 Satoshi that you Wager. These Reward Points can now be used for different items like Gift Cards, Bitcoins, or real Items like Phones, TVs, and more.