What is a 'Bitcoin Faucets'?
According to Wikipedia, Bitcoin faucets are a reward system, in the form of a website or app, that dispenses rewards in the form of a satoshi, which is a hundredth of a millionth BTC, for visitors to claim in exchange for completing a captcha or task as described by the website.
Who developed the bitcoin faucet?
Bitcoin faucet were first developed by Gavin Andersen in 2010. Until the other users create their own faucets. Today, there are countless numbers of bitcoin faucets.
How does it work?
Faucets usually give fractions of a bitcoin, but the amount will typically fluctuate according to the value of bitcoin. Typical payout per transaction is less than 1000 satoshi (equals to 0.00001 btc), although some faucets also have random larger rewards.
Rewards are dispensed at various predetermined intervals of time, as rewards for completing simple tasks such as captcha completion and as prizes from simple games like the bitcoin fidget spinner.
What is its purpose?
Faucets are a great way to help introduce new people to crypto-currency. Since this whole experience is so new and a bit complicated to people, who perhaps don’t quite trust it with their hard money. Below are the main purposes of a bitcoin faucet:
- To Promote and Introduce Bitcoin and other Crypto-currencies
- To get traffic
- To make money
Do they have a affiliate/referral system?
Of course, they do. It is typical for faucets to have an affiliate/referral system, where existing users referring new ones are rewarded. The system could actually help both of them with their earnings.
Pros & Cons
Pros:
- Helps you understand how to earn a single satoshi/bitcoin.
- Makes single cent per day.
- Allow you to make money from your own faucet.
Cons:
- Very little earning/reward per-minute.
- Sometimes cause you to stop.
- 70-85% of faucets are built to scam.
For now, I'm done discussing the bitcoin faucet. I hope you understand it, below I give some faucets where you can earn your first bitcoin.
My Bitcoin Faucets Lists for beginners:
Most faucets I listed below are safe to use. I already got withdrawals for years there. Be sure to visit it everyday. I also leave its features.
☆ Author's Note: It's better to sign up under my referral link for bonuses. If you won't like to sign up, feel free to click non-referral link. I'm not forcing you. ☆
1. Freebitco.in - Referral link | non-referral link
Features:
- 2-Factor Authentication is suggested for your better account security.
- Roll for free bitcoins every 1 hour. You can actually win its jackpot when you hit the lucky number '10000'.
- Minimum withdrawal : 0.00030000 bitcoins.
- Multiply your bitcoin with Hi or Lo
- Pays referral per user (must use the website and roll)
- Withdrawal fees are free if you enable 'automatically withdraw' (Sunday only).
- Lottery tickets and reward points are given every roll and per referral.
- Lottery tickets can be used instantly by server to choose 10 random winners. The higher lotto you get, the more chances you can get on top 10.
- Lottery prize of 0.3 bitcoins.
- Reward points can be exchanged for electronics, hardware wallets, gift certificates, free bitcoin bonus per roll, lottery ticket bonus per roll and reward point bonus per roll.
2. Faucethub - Referral link | non-referral link
Features:
- Survey offers free bitcoins
- More than 600 bitcoin faucets and a total of 300+ faucets for other cyptocurrencies.
- Offers Premium Faucets.
- Pays referral per user.
- Multiply your bitcoin by playing games.
- Minimum withdrawal of 0.0002 btc however takes 24-48 hours depending on how much you request.
For now, this 2 is the best faucets for beginners like you. If you want to earn additional bitcoins, please wait for a new lists of it or you can just go to Google, but be sure that the site will pay.
Conclusion:
As my conclusion, I could say that earning money using Bitcoin faucets are good if you have extra time and would like to get a hold of few Bitcoins. However this should not be treated as a source of income to provide food on the table.
Even though here are hundreds of Bitcoin faucets available today. And they offer a good way to earn FREE Bitcoins, but its really only in small quantities. If you are looking to earn a living/full time income source using internet, this might not be for you.
Like real world business you need a start up capital before you can make serious online income. Most if not all free sites are only to give you a foretaste or training of what it is like to make money online but the real income comes with proper, time, money and knowledge invested.
That's all. I love to hear your thoughts. What is your opinion about Bitcoin faucets? Leave a comment below. Peace out!
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