Bitcoin Faucets originated in the world of website promotion and ad consumption. It is known that the more people viewed a certain site, the higher it will rise at the top. An artificial way to increase the number of web page views is to buy user’s ones.
Previously (and often now), advertisers and domain owners paid users with fiat money. Since Gavin Andresen, Bitcoin Foundation’s chief scientist, has created a Bitcoin Faucet, site owners have a new way to pay for promotion. Now cryptocurrency is in high demand within this field.
For many novice miners and just people who want to earn money, Bitcoin Faucets are a good way to get free Bitcoin cash. Do you want to know how it works?
The article will tell you:
- How Bitcoin Cash Faucet Works
- How to Get Free Bitcoin Сash
- How to withdraw Satoshi
- Who Uses Bitcoin Facets and Why
- FAQ Section
How Bitcoin Cash Faucet Works
Bitcoin Faucet is a website where the advertiser, site owner, and users meet. Here is certain cooperation of the three parties, and everyone benefits. An advertiser pays the site owner for placing ads and increasing the number of views. A site owner offers visitors to view a large number of pages for a small fee. They usually get paid in dollars.
In the world of cryptocurrency, users receive Satoshi (named after the pseudonym of Bitcoin creator(s) Satoshi Nakamoto), which is the minimum unit of Bitcoin. Thus, a Faucet is a business model for buying views for cryptocurrency. The idea is to earn Satoshi without additional fees to enter the Bitcoin market. Although there are Faucets for different cryptocurrencies now, Faucets for Bitcoin were the first to appear. The first Bitcoin Faucet was developed in 2010 by Gavin Andresen, who seeks to spread awareness about cryptocurrency and makes this world more accessible to people.
A Faucet website distributes a small amount of cryptocurrency to registered users for various simple tasks. These tasks do not require intellectual involvement and are rather mechanistic. For example, you need to view a video, enter a captcha, view a page, read an email, or surf a website.
Users complete tasks and receive Satoshi with a certain regularity, once every few hours or a day. The frequency of payments and a reward system depends on the rules of a particular resource. Since you can use both desktop and mobile devices, this is a fairly convenient way to earn extra money.
Of course, a Faucet site will not allow you to earn Bitcoins in large quantities. After all, to get one Bitcoin on a Faucet site, you need to earn 100,000,000 Satoshi! Typically, Faucet owners give users small rewards. However, you can still earn some free money, especially if you work on several Bitcoin Faucet pages at the same time. To learn how it works in depth, stay on the page (although you won’t get your Satoshi for it).
In this way, a Faucet significantly differs from browser mining that brings the user more Bitcoins. However, to enter the cryptocurrency market, you need to have at least a small amount of these coins. Some people use Faucets for this purpose as well.
How to Get Free Bitcoin Сash
A Faucet owner offers users to complete different tasks that increase the activity of the site, among others. The most common ones are viewing ads and solving captchas. Some Bitcoin Faucets include playing games. For example, Bitcoin Aliens Faucet is built on a gaming platform. Anyway, all these are quick tasks for small amounts of money. Most websites have no restrictions on the minimum tasks per day, so the user can feel free about their work schedule.
Whether it is watching ads or entering a captcha, every visit to the site promotes it and allows the user to earn crypto coins. It is unlikely that Satoshi received on a Faucet will add up to several Bitcoins; new users may think that the time spent is not worth a modest income. However, an insignificant sum is obtained if you use just one Faucet. You can register on several sites at once, for example, Cointiply, Moon Bitcoin, or other Faucets, and devote dedicated hours to watching ads.
Faucets websites provide users with links that they click on and complete a task. After completing a task, there appears a line on the page to enter the number of the Bitcoin wallet where the Satoshi will credit. Programmers design tasks so that a user stays on the site for as long as possible. It can take up to 24 hours from the moment the task is completed to the line appears. It is not profitable to work only on one site or Faucet because you can wait for the receipt of coins for a very long time.
When you have earned a certain amount of Satoshi, a Faucet withdraws currency to your wallet. The next section will tell you what withdrawal methods exist in the Bitcoin Faucet system.
How to Withdraw Satoshi
The method of withdrawing funds from your account is an important component of the Bitcoin Faucet system. There are two main ways, namely instant withdrawal and periodic withdrawal. Accordingly, there are two types of Faucets. Well, let’s look at them in order.
1. Faucets With Instant Withdrawal of Funds
As the name suggests, these Faucets instantly transfer Satoshi to your wallet after completing tasks. Withdrawals are made not after each task, but with a small interval, for example, every 5 or 10 minutes. Since the tasks are simple and do not take much time, there is no point in making a transaction after each captcha or viewing ads.
There are quite a few Faucets with instant output, and you can easily google the ranking of such websites. As an example, consider Moon Bitcoin Cash, which withdraws funds every five minutes. When you choose a Faucet, please note that you need to choose a suitable wallet for the withdrawal of Satoshi. Moon Bitcoin is synced with the CoinPot wallet, so you need to install this app.
An important point to consider is the minimum withdrawal limit. Some Faucets websites do not set a huge minimum limit, while others will have to work for a long time to withdraw Satoshi. Moon Bitcoin has a minimum withdrawal limit of 0.0001 BTC, which is not much. When you earn this amount, you can withdraw it directly to your Bitcoin wallet.
Some Bitcoin Faucets also reward users for increased activity. For example, Moon Bitcoin charges interest for each day of work on the site and additional tasks and also gives reward points randomly. The amount of the average payout is difficult to determine since the reward can range from 1 to 100 percent.
You can also use a casino as a cryptocurrency Faucets with instant withdrawal. People use Satoshi for game exchange and can multiply their free Bitcoins. Casino sites are not uncommon, but before you sign an agreement, read the rules carefully. You can discuss your questions with the managers of Faucet Casino. They play actively and know exactly how to earn bonus Bitcoin in this system.
2. Bitcoin Faucets with Periodic Payments
Unlike Faucets with instant payments, here site owners pay you once a day or a week. As in the previous case, the withdrawal conditions depend on the rules set by the site. Most Faucets operate on a periodic payment system. This may be less convenient for those who want to receive free Satoshi constantly, but if this is not necessary, this system is also suitable.
When creating an account on the site, carefully read about the withdrawal conditions. Some popular Bitcoin Faucets introduce a commission for withdrawing funds, which is not satisfactory with low earnings. Also, pay attention to the minimum withdrawal amount, which is important for the turnover of your Bitcoins. Choose the best Faucet convenient for regular use.
Who Uses Bitcoin Facets and Why
So, Bitcoin Faucets are convenient for getting free Satoshi. As we can see, these are often small amounts.
Who benefits from making money on a Faucet?
- People who want to enter the world of cryptocurrency but do not have the money to buy a whole Bitcoin at once. To earn a Bitcoin, you can use the free Bitcoin Faucet and receive Satoshi without contributions.
- Players in the casino for small amounts that they can exchange among themselves. Many Bitcoin casinos do not require a sign-up to participate in the game so that you can remain anonymous.
- Owners of websites that place advertisements. By hiring people who will promote the site for Satoshi, they can claim large contracts with advertisers and good payment with Bitcoins.
Well, now that the idea of Bitcoin Faucets is clear. Let’s look at the popular questions related to their use.
FAQs
Are Bitcoin Faucets Worth It?
As mentioned in the body of the article, one task brings a small amount of Satoshi. If the user has an account on only one Faucet, it is unlikely to earn a significant sum. However, if you use other Faucets, your chance to earn most of the Bitcoin increases. In the Bitcoin Faucets system, you can count on a stable income since there are a lot of tasks and new ones are constantly coming in.
In addition, Faucets remain the only way to enter the world of cryptocurrency for many people since the current high cost of Bitcoin does not allow them to do this through the purchase of currency.
What is the Best Bitcoin Faucet?
There are hundreds of Bitcoin Faucets, among which it is difficult to name the best. The quality of a Faucet consists of such factors as:
- number of supported cryptocurrencies (all major Faucets support Bitcoin)
- method of withdrawal (instant is preferable to periodic)
- minimum limit (the smaller it is, the better)
- size of a fee for withdrawal (its absence is always a great idea)
- system of rewards.
In addition, you can choose a Bitcoin Faucet according to the wallet it supports. If you are comfortable with the interface of a particular wallet, you are looking for the appropriate Faucet.
Among the best Bitcoin Faucets are usually called BonusBitcoin, Cryptoblox, Rena-Faucet, Fauc, Moon Bitcoin, Crown Faucet. However, the list does not end there. Given these parameters, you can choose the most suitable Faucet.
Can You Make Money with Bitcoin Faucet?
A user can earn Satoshi, exchange them in a casino, as well as convert them into dollars. Withdrawal of funds in dollars is made via wallets. So when choosing it, consider the amount of the commission. Some wallets are designed to work with whole BTC, not Satoshi, so the withdrawal fee can be very high and unacceptable for those who earn coins.
Are Bitcoin Faucets Legit?
Since Bitcoin Faucets are platforms for paying for labor, the only legal obstacle is the payment of taxes for cryptocurrency. In all countries where cryptocurrency is legalized, there will be no other problems.
