PSA: This deal is dead and buried deep in the ground. It’s currently $10 you can earn. Which is still better than nothing, but definitely not as good as it once was. Your choice if you want to do it still or not.

Note: Feel free to post this hack on your own blogs/social media/email lists/etc., using your own referral link for epic win and $$$. A link to HackCreditCards would be appreciated though – win-win-win-win!

This is one of those win-win-win awesome free money opportunities that comes up every now and again. They invariably don’t last long, so if you’d like to make a free $35 with 5 minutes of effort, I suggest you do the following now. Also – the opportunity isn’t just $35 in 5 minutes – you could theoretically make unlimited money doing this. Read on:

The Opportunity:

On August 20th, Coinbase, one of the largest bitcoin exchange and digital wallet services, decided they had way too much money (having raised over $100 million in venture capital, including $75 million earlier this year), and came out with an absurdly generous referral bonus: $75 for any person who signs up and buys $100 or more worth of bitcoins.

My free-money spidey senses immediately started tingling. This is basically just Coinbase giving out an insane amount of money away for free, since when you buy $100 of bitcoins – you still own $100, just in bitcoins, and have given Coinbase basically no money at all*. You can transfer that $100 in bitcoins back into a real $100 at any time, and withdraw it.

 

So let’s walk through the math of this deal:

1. You, as someone who has never used Coinbase before, sign up through my referral link: https://www.coinbase.com/join/lovebitcoins and buy $101 in bitcoins (important note: remember to buy $101, since they charge a 1% transaction fee, so you need to spend $101 to get $100 in bitcoins – see image above).
2. You’ve paid a total of $101: $100 is still yours, in the form of bitcoin, and $1 was a transaction fee paid to Coinbase.
3. Coinbase then pays me $75 in bitcoins as a referral bonus for introducing you to the wonderful world of bitcoins.
4. You email me at coinbasepromo@pomml.com (special email just for this promo so I don’t get spammed), and once I receive the $75 from Coinbase, I send you half of the referral bonus I got, sending you $37.50 worth of bitcoins. You are now net +$36.50, since you paid $1 and earned $37.50.
5. At this point, you can keep your $136.50 in bitcoins either still in bitcoins, or cash them out for real money again. I personally keep about $6000 in bitcoins and expect to keep adding more to that, since I have a lot of optimism in the future of bitcoin and think they’re probably a lot cheaper now than they someday will be when bitcoin is a lot more useful, but you can literally just cash out and pocket your ~$35+ in earnings immediately.
6. Want to make unlimited free money? Now that you have your own Coinbase account, you’re welcome to take this whole strategy and send it to all your friends with your own referral link, and get them signed on board too. Signup 100 friends and you’ll make a nice $3500. Signup 1000, and you’re at $35,000. Not bad!

Sound good? If you have any questions/hesitations because this sounds too good to be true, definitely hit me up at coinbasepromo@pomml.com so I know what concerns people might have so I can address them. For some reason, even though this is free money you can make in 5 minutes (which comes out to like, $400/hr if you were able to do this indefinitely), most people who read this won’t take action on the offer, and I’m curious why. So if that’s you – send me an email and let me know why!

Otherwise, signup here while this offer’s still live and make your free money and learn about bitcoins while you’re at it – something you should definitely do sooner than later, because they’re awesome and you definitely don’t want to miss out on their awesomeness in this still-nascent stage where opportunities for great profit and happiness are still rife.

*technically, you gave them $1, since there’s a 1% transaction fee, but you still own $99, and they just gave us $75 for giving them $1…so yeah, it’s a net positive transaction

Update: Hack within a hack: You can actually earn way more if you do the transaction in GBP (British pounds): Apparently, according to https://support.coinbase.com/customer/portal/articles/683805, “If your friend visits coinbase.com/buys and purchases $100 USD or more (or 100 EUR, or 100 GBP, or 100 CAD) of bitcoin, you will receive $75 (or 75 EUR, or 75 GBP, or 75 CAD) of bitcoin when the buy completes. Buys can take up to 4 business days to complete.”

So if you have the ability to do the transaction in GBP, you buy 100 GBP (with a transaction fee of 1 GBP, or $1.54 USD right now), and we get a referral of 75 GBP, or $115.34 USD right now – meaning we each get $55+, not $35+ in referral bonus. Not bad!