Earning Free Bitcoin with Faucets
What is a Bitcoin Faucet?
Picture a sink faucet with a drip. Over time that sink will fill up with water. A Bitcoin faucet is a website that gives you small amounts of free bitcoin in exchange for completing shorts tasks that adds up over time.
These tasks are actions that make money for the website from referrals, whether filling out surveys, watching ads, or playing games. Some even just allow you to spin once an hour (or every 15 minutes) for free Satoshis. The best Bitcoin faucets maximize payout with little time investment and difficulty.
The reward may seem small, but don’t worry, Bitcoin is designed to appreciate in value, making those small pieces worth a lot more down the road. Some early bitcoin faucet users became very rich just by saving a few dollars worth of Bitcoin, and that has grown in value CONSIDERABLY over time.
Best Bitcoin Faucets
As part of my journey to financial freedom, I set out to create as many passive income streams as possible. Free Bitcoin faucets are a great way to spend a small amount of time for large potential profits.
These are the main Bitcoin Faucets that I personally use each day to earn free Bitcoin. I know these sites to be legit, and have gotten payouts from all of them.
This is a perfect side hustle for people who spend a lot of time at home, such as students, SAHMs and people who work online… I work on the computer all day and just keep my tabs open, rolling each site once per hour and doing surveys or watching ads when I feel like it.
I actually use a one hour timer to stay productive online while I work, using it as a way to stay on track. I love that it helps me stay productive while paying me to do so.
FreeBitcoin is a long standing, trusted faucet that just celebrated 7 years in business. I signed up in 2018 – my very first Bitcoin faucet. Each hour you can spin to earn Satoshis, with a chance of winning up to $200 for the top tier, and less for each tier down.
Withdrawals can be done once you reach $1 worth of Bitcoin and they are sent directly to your own Bitcoin wallet. You also have the option to use the FreeBitcoin wallet that pays you 4.08% interest daily once you have at least 30,000 Satoshi in there, which is what I do.
A newer feature they have is the daily Wheel of Fortune, which has fantastic prizes such as $15,000 in BTC, an iPhone 12, $500 Amazon gift cards, and more. Last week I landed on 5,000 Satoshis twice, which was awesome.
All in all, I love FreeBitcoin and have been faithfully spinning every day for over two years now. In that time I have made A LOT in free spins and interest, and plan to keep growing my stack. I transfer my Satoshis from all my other Bitcoin Faucets to this wallet to earn interest. I highly recommend this site.
Cointiply is one of the more popular bitcoin faucets, which is not surprising, given that it has some of the highest payouts. I personally make about $10 in free Bitcoin per week with daily faucets, PTC (Pay to Click) Ads, and completing surveys while I watch Netflix in the evenings.
You can spin the faucet once an hour, but what I love about this site is how many different ways there are to earn. In addition to surveys, Cointiply provides opportunities to users to earn by accepting offer walls. This may mean downloading an app or signing up for free trials and contests.
Cointiply gives tons of bonuses for logging in every day and completing tasks. They just celebrated their 3rd birthday, and have a wonderful community of people earning free crypto. Overall, it is one of the best and most feature-rich Bitcoin faucets around.
Honeygain is a truly passive income earning opportunity. Once downloaded, you can “Set it and Forget it.” They start you out with $5 just for signing up, then pay you daily.
This website offers a program for Windows, macOS or an app for Android and iOS to share your unused internet bandwidth, earning money in return.
Honeygain gives you the option of being paid in Bitcoin (no fee) or directly to your PayPal in cash. Payout when you reach $20.
The App is easy to install, doesn’t slow down your computer and requires zero work to earn. Just install it and forget it. You can also check the Honey Pot for daily bonuses, if you choose.
Use Promo Code: FORUMBEE for a free $5 when you sign up.
Coinbase is not a bitcoin faucet, but rather one of the most established cryptocurrency exchanges in the United States and one of the largest in the world.
This means that you can securely buy, sell and trade cryptocurrencies on this site, but they also offer you the opportunity to earn free cryptocurrencies simply for learning about them.
Currently Coinbase offers 32 cryptocurrencies to U.S. customers to trade, far more than many other platforms. For example, sites like eToro and Robinhood offer about half as many. Coinbase is where I always buy my BTC.
Once signed up, you can go to Coinbase Rewards where they will show you the available cryptocurrencies that have money to be earned. The funds are available immediately, and you can swap them for Bitcoin or another cryptocurrency free of charge. Or you can simply cash out to your bank account right away.
I personally always trade my free cryptos for Bitcoin and hold onto them! I earned $110 through Coinbase Earn in 2020 and traded all the coins for Bitcoin. Due to the rising price of BTC, that $110 is now worth over $500.
It’s amazingly simple to earn, and great way to get started and learn a bit more about cryptocurrencies. Also, if you invest $100 on Coinbase, they will give you an extra $10.
Pi is a new digital currency developed by Stanford PhDs, with over 10 million members worldwide. The Pi app allows you to access and grow your Pi holdings and serves as wallet to host your digital assets. Pi is fairly distributed, eco-friendly and consumes minimal battery power.
This app allows you to earn Pi by making simple contributions to Pi’s community. The more you contribute, the more Pi you earn. To start earning Pi, check in every 24 hours and hit the lightning button to start mining.
Once you are mining, you can boost your hourly rate by inviting trusted friends and family to join the community. After 3 days of mining, you can boost your earnings more by building your security circle, which contributes to the overall security of the network.
You do not need to leave the app open to mine. Pi does not affect your phone’s performance, drain your battery, or use your network data. Once you hit the lightning button, you can even close the app and you will continue to mine Pi.
If you’d like to invest in Pi, it’s best to download the app and start mining immediately. Once the crypto reaches 100 million users, it will become a real currency and can be used in transactions.
Cryptocurrency Faucets 2021
Bitcoin faucets were originally created to spread the adoption of Bitcoin around the Internet.
The first Bitcoin faucet was set dispense 5 whole Bitcoins to each user, which as of mid January 2021 would be worth $200,000!
Over time faucets have become more business-centered in the way they make and dispense money.
Most modern Bitcoin faucets are sites that dispense a small amount of Bitcoin to users every few minutes while making money from displaying ads to these users.
So while it may make the sites seem a bit “spammy” that is actually how they can afford to give you free crypto currency, which I think is a fair enough trade-off.
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What is Bitcoin?
Bitcoin is a payment system introduced as open-source software in 2009 by developer Satoshi Nakamoto. The payments in the system are recorded in a public ledger using its own unit of account, which is also called bitcoin. Payments work peer-to-peer without a central repository or single administrator, which has led the US Treasury to call bitcoin a decentralized virtual currency. Although its status as a “currency” is disputed, media reports often refer to bitcoin as a cryptocurrency or digital currency.
Bitcoins are created as a reward for payment processing work in which users offer their computing power to verify and record payments into the public ledger. Called mining, individuals or companies engage in this activity in exchange for transaction fees and newly created bitcoins. Besides mining, bitcoins can be obtained in exchange for fiat money (cash), products, and services. Users can send and receive bitcoins electronically for an optional transaction fee using wallet software on a personal computer, mobile device, or a web application.
Bitcoin as a form of payment for products and services has seen growth, and merchants have an incentive to accept the digital currency because fees are lower than the 2-3% typically imposed by credit card processors. The European Banking Authority has warned that bitcoin lacks consumer protections. Unlike credit cards, any fees are paid by the purchaser not the vendor. Bitcoins can be stolen and chargebacks are impossible. Commercial use of bitcoin is currently small compared to its use by speculators, which has fueled price volatility.
In 2020/21 we started seeing many notable companies such as Tesla, BNY Mellon (America’s oldest bank), Mastercard, Visa, Square and more buying up large amounts of Bitcoin. PayPal also recently starting offering customers the ability to buy Bitcoin with their PayPal Account. Additionally, we are seeing large hedge funds buying into Bitcoin as well, as we move towards mass adoption of the cryptocurrency.
Bitcoin has been a subject of scrutiny amid concerns that it can be used for illegal activities. In October 2013 the US FBI shut down the Silk Road online black market and seized 144,000 bitcoins worth US$28.5 million at the time. The US is considered bitcoin-friendly compared to other governments. In China, buying bitcoins with yuan is subject to restrictions, and bitcoin exchanges are not allowed to hold bank accounts.
If you want to know more then check out the full Bitcoin Wikipedia article here.
Are all Free Bitcoin Faucets Legit?
There are many faucets, games and sites claiming to give away free cryptocurrency, and while some are legit, many are not. You will see many ads for different sites, so just remember to look into these five points whenever signing up to a new program.
1. Claim amount – How many Satoshis do you get per claim?
2. Timer – How long do you need to wait between claims?
3. Minimum withdraw – What is the minimum amount you need to earn to withdraw your balance?
4. Withdrawal method – Are payments done directly, or through a micropayment wallet?
5. Fees – Is there a fee for withdrawal from the faucet, and if so, how much?
I also recommend doing a quick Google search on any faucet before you sign up. Chances are that several people have done a review of the site and that will give you a good idea if it’s worth your time or just a scam.
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