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Are you looking to earn free Bitcoins?
It might sound too good to be true, but there are actually ways to earn Bitcoin for free, thanks to Bitcoin faucets.
What Is a Bitcoin Faucet?
A Bitcoin faucet is a website that rewards you with small fractions of Bitcoin, called Satoshis, in exchange for completing simple tasks like watching ads or filling out forms.
While Bitcoin faucets don’t give you free Bitcoin out of thin air, they’re worth a try if you don’t have the funds to buy Bitcoin directly. Through these faucets, you can trade a bit of your free time to earn small amounts of Bitcoin.
The first Bitcoin faucet was created by Bitcoin Core developer Gavin Andresen in 2010 to promote Bitcoin. Believe it or not, it used to dispense a full 5 Bitcoins to each user!
Today’s Bitcoin faucets have become more business-oriented, using promotional campaigns as part of their strategy.
How Does a Faucet Work?
Bitcoin faucets typically operate by promoting products or gathering valuable data from you in exchange for rewards.
When you sign up, you’ll likely need to provide basic information, such as your email, name, and wallet address for receiving rewards.
However, you don’t get paid right away after each task. Your earnings are first stored in a micro wallet, which can only hold small amounts of Bitcoin. Once this micro wallet reaches a certain balance, your rewards are transferred to your main wallet.
For some faucets, a micro wallet is created automatically when you register.
It’s a straightforward process, but remember, the digital world — especially in crypto — can be full of shady practices. Here are some key terms to understand when dealing with faucets:
Claim amount — How many Satoshis do you get per claim?
Timer — How long do you need to wait between claims?
Minimum withdrawal — What is the minimum amount from which you can withdraw your balance?
Withdrawal method — Are payments done directly, or through a micropayment wallet?
Referral fee — What’s the fee you get for referring new users to the faucet?
To make things easier, I’ve put together a list of trustworthy Bitcoin faucets.
List of Bitcoin Faucets
1. Cointiply
Cointiply is the new player in the market, and started to operate in 2018 February.
They claim to have paid over $1.2 million to 99,000+ faucet claims.
Using Cointiply, you can earn Bitcoin using different ways such as installing apps, completing surveys, rolling the faucet, watching videos, visiting advertiser websites, playing games, chatting with crypto enthusiasts, and even you can earn interest if you deposit or save coins.
You can make a withdrawal in the Dogecoin, Dash, or Litecoins wallet, where the minimum withdrawal amount is 30,000 coins, and to the Bitcoin wallet, where the minimum withdrawal limit is 50,000 coins.
2. Fire Faucet
Fire Faucet is another platform where you can earn free cryptos by doing the activity on the website.
In this faucet, you get a variety of options to earn free coins like completing surveys, viewing ads, and watching videos.
For completing each activity you’ll earn ACP (Auto Claim Points), which you can convert later to your desired crypto assets with a small amount of fee.
Their offer wall shows you the available offers to earn ACPs and the short link option where you earn the ACP by viewing the continuous short ads.
3. BTCClick
BTCClick is a reputed Bitcoin PTC (Paid To Click) website operating since 2013.
You can earn Bitcoin simply by watching ads on BTCClick.
The ads are 10 to 60 seconds long, and the longer the watching time would be, the more you will get paid for it. You can watch more than 20 ads initially, and then you will have to wait for a few hours for new advertisements.
All payments are done in mBTC (millibitcoin), which is one-thousandth of a Bitcoin.
And the minimum withdrawal amount is 0.10000 mBTC. There are no charges for withdrawal.
4. Coinpayu
Coinpayu is another PTC website like BTCClick.
But the difference is you can view different types of ads like video ads, window ads, or just surf advertiser websites.
Not only ads, you can also earn by completing surveys.
You can withdraw earnings in different coins like Dogecoin, Bitcoin Cash, Ethereum, and Litecoin, and the withdrawal limit and fees are in the image below.
5. FreeBitcoin.io
FreeBitcoin.io is a different site than any of the above by allowing you to roll a random number to win Bitcoins.
When you register successfully on the site, you are eligible to roll a random number to win Bitcoin prizes up to $300. You can roll a number once every 60 minutes.
Not only rolling, you can also win Bitcoin by completing surveys.
The minimum withdrawal threshold is 0.0002BTC.
Final Thought…
In the crypto world, faucets don’t have the best reputation, with scams being a recurring issue.
Proceed with caution before using any faucet. Although the faucets in this list are trustworthy, it’s still a good idea to double-check before diving in.
So, are you interested in using any of these faucets? If so, which one would you try? Let me know in the comments!
Want to Earn Free Bitcoins? Here’s a List of Legit Bitcoin Faucets was originally published in Coinmonks on Medium, where people are continuing the conversation by highlighting and responding to this story.