Contrary to the usual methods of buying and trading cryptocurrencies, there is another method of getting cryptocurrency that is not talked about often, and that is through crypto faucets.
Yes, it is a legal and safe method. Keep your expectations at bay when you are venturing into bitcoin faucets, as this is not one of those get-rich-overnight methods. Digital currencies are frequently making the headline now and with over 18 million in circulating supply, Bitcoin is still in demand as ever.
What Are Bitcoin Faucets?
Cryptocurrency faucets or bitcoin faucets are websites and apps that allow users to earn small amounts of cryptocurrency in exchange for completing simple tasks.
Have you seen those get-paid to click ads and completing surveys to get paid posts?
Earning money via bitcoin faucets works somehow similarly. It's named a faucet because the rewards users earn are small, just like leaking water droplets from a faucet.
Among the tasks that you will be asked to complete are:
Even though these activities seem too simple, bear in mind that accumulating a substantial amount of crypto may take a while with bitcoin faucets. The rewards run parallel with the difficulty of the task given; the easier the task, the smaller the reward, and vice versa.
Users will be rewarded with the smallest unit of the bitcoin currency, a satoshi. 1 BTC is equivalent to 100 million satoshis, and hence if you would like to earn more bitcoins, you simply have to complete more tasks.
How Does Bitcoin Faucets Work?
Advertisements in the form of movies or banners are placed on the website by the faucet owner. The faucet is then promoted by posting links to it on forums, blogs, and other similar websites.
Users will then visit these sites and complete the tasks required. Once the tasks are completed, you will then be rewarded with satoshis. Depending on the site, you may need to accumulate the satoshis to a certain threshold amount before executing the withdrawal.
Elements To Look Out For In Bitcoin Faucets
Before diving into the first Bitcoin faucet you stumble into, you need to keep these few things in mind to find one that best suits your requirements.
A) Withdrawal Amount
Most commonly used Bitcoin faucets will not allow a withdrawal to be executed unless a minimum threshold amount is achieved. The typical threshold amount is 10,000 satoshis (around USD5 or 0.0001BTC)
B) Withdrawal Method
Your earnings will be credited to a digital wallet, so be sure to have a bitcoin wallet prepared prior to venturing into any faucets.
C) Claim Amount
This is a measure of the potential satoshis to be earned. As a rule of thumb, the harder the tasks are to be completed, the higher the reward.
D) Referral Fee
Make use of the referral program that is offered on these sites to earn some extra coins. Factor this into consideration when choosing your faucet.
What Are The Best Bitcoin Faucets?
Contiply considers itself to be a supercharged Bitcoin faucet and is one of the highest-paying faucets with potential earnings of 200 satoshis per hour.
Upon registration and signing into your account, you will be rewarded with a loyalty bonus and earn extra rewards by leveling up after hitting the benchmarks set for task completion.
This site has an exciting feature where you can earn 5% interest on your balance once you have accumulated 35,000 coins. Their referral program offers users 25% of any faucet claims made by your referrals, as well as 10% of their offer profits.
Cryptocurrency options: Bitcoin, Doge, Dash, or LTC
Withdrawal amount: Withdrawals are allowed once 30,000 satoshis are accrued
Withdrawal method: Crypto wallet
App: Contiply (Only available on Android for now)
2. Free Bitcoin
Free Bitcoin is a game-centric crypto faucet where you can earn satoshis by primarily playing different games. There is roulette every hour where users can play a game and try to win up to USD200 in Bitcoin.
Among the features of this site is that you can earn up to 4.8% interest on the Bitcoin holdings you have on the site. Increase your Bitcoin holding by playing the Hi-Lo game, a cryptocurrency and math-based game, where you can hit the jackpot of earning 1 BTC when you win.
As for their referral program, you will receive 50% of anything your referrals win, plus free lottery tickets every time they play.
Cryptocurrency options: Bitcoin
Withdrawal amount: No minimum withdrawal
Withdrawal method: Crypto wallet of FreeBitcoin wallet
3. Fire Faucet
Earn any of the 12 cryptocurrencies offered on Fire Faucet by doing various tasks such as watching videos, answering surveys, etc.
A reward system is implemented on this site, where you are rewarded based on your activity level. As the frequency of your site visitation and usage increases, you will be able to rank higher and Fire Faucet rewards the top 20 users with additional rewards.
Cryptocurrency options: Bitcoin, Binance BEP20, Tether TRC20, Ethereum, Dogecoin, Litecoin, Dash, Tron, Nano, Monero, ZCash, and DigiByte.
Withdrawal amount: USD10 minimum withdrawal
Withdrawal method: Crypto wallet or FaucetPay Micro Wallet
4. Faucet Crypto
On Faucet Crypto, you can earn coins through tasks such as watching adverts, playing role-playing games (RPG) where you can level up and increase your winnings.
Their referral program offers 20% of all your referral earnings.
Cryptocurrency options: Bitcoin, Ethereum, Dogecoin, Litecoin, Dash, Tron, Nano, and more. Up to 20 coins are available!
Withdrawal amount: 500 coins
Withdrawal method: Faucetpay.io
5. Bitcoin Aliens
Bitcoin Aliens rewards users for playing games on their app with Bitcoin Cash, Bitcoin, and Litecoin. One thing to bear in mind is that the app earns money by gathering data while games are played on your device.
Cryptocurrency options: Bitcoin, Bitcoin Cash, Litecoin
Withdrawal amount: Minimum 30,000 satoshis for Bitcoin, 10,000 for Bitcoin Cash, and 100,000 satoshis for Litecoin.
Withdrawal method: Crypto wallet
App: Free Bitcoin Cash (Only available in Android for now)
Are Bitcoin Faucets Worth It?
Many people took advantage of the conventional bitcoin faucets in the early days. It's commonly assumed that just a few people did this because bitcoin was relatively unknown back in 2010.
As Bitcoin got more popular, crypto faucets had to limit the rewards given out to keep pace with the growing price of Bitcoin.
When utilized wisely, all Bitcoin faucets are rather rewarding. This is most likely the simplest and most affordable way to earn free Bitcoins per hour online.
Wrapping It Up
Cryptocurrency faucets might help you supplement your income. However, there is no means for you to get wealthy. The rewards earned are small, and it will take time to accrue a large sum of coins.
Digital currency is a rapidly evolving field, and a cryptocurrency faucet is a wonderful way to get started without risking any money, contrary to cryptocurrency trading.
Spend some time and go through the websites that meet your requirements, and check into some of the other currency alternatives to see if your additional profits may be worth more than bitcoin's soaring value.
Regiena is a banker, an avid reader, and part-time freelance writer, currently exploring the realm of blockchain technologies.