After many years of struggling with adoption and even being considered a bubble or scam, suffice it to say that Bitcoin has earned its place as an established digital asset that quickly found its way into the regulatory plans of various jurisdictions.
Many people today consider Bitcoin an investment instrument with high-profit potential, and as such, are actively looking for ways to acquire the digital asset. Now while the easiest and quickest way to do this is to simply buy, there are other ways to acquire Bitcoins.
Bitcoin faucets or BTC faucets are a convenient way for many users to earn Bitcoins by engaging in online activities. With faucets, users have the possibility of receiving BTC regularly.
This BTC earned is typically paid in Satoshi, which is 100 millionth of 1 BTC (otherwise expressed as 0.00000001 BTC). In this guide, we will discover the advantages and disadvantages of Bitcoin faucets and share with you our pick of the Top 5 Bitcoin faucets.
How to Start Using Bitcoin Faucets?
Getting started with Bitcoin faucets is pretty easy. In most cases, all you need to do is fill out a simple one-page form on the homepage of the faucet in question. A typical Bitcoin faucet registration form will require you to fill out your email address, password, and referral code, where applicable.
Referral is a critical aspect of most Bitcoin faucets as it is a lucrative way for users to earn passive income as well as a means of onboarding new users to the sites. Additionally, different levels of verification are also a part of Bitcoin faucet sites to ensure that activities on the platforms are actually carried out by humans and not bots. You will typically be required to complete a captcha before playing a game or completing a task before you can receive a reward.
The Bitcoin Faucet Explained
The word “faucet” basically means tap, just like the one in your sink. More specifically, a Bitcoin faucet is a platform that distributes Bitcoins to users in exchange for various tasks and activities carried out. Bitcoin faucets are websites that dispense small amounts of Bitcoins at regular intervals. Internet users can benefit from it by playing games or performing specific tasks.
The Bitcoins distributed by Bitcoin faucets are disbursed in very small units called satoshis. This means that to earn a significant amount of Bitcoins, you need to complete quite a few tasks, which may include:
- Subscribing to newsletters
- Viewing adverts
- Answering quizzes
- Participating in games
- Engaging in other online activities
Since the inception of this concept, Bitcoin faucets have been Developing their platforms and incorporating new ideas and methods of earning rewards, including betting. Casino games are being integrated into Bitcoin faucet platforms, making offers like big winnings from jackpots possible. Offers like these give you the opportunity, as a user to get huge rewards, without having to perform the conventional tasks for a longer period.
The first Bitcoin faucet that was ever created was “The Bitcoin Faucet”, and was launched in 2010, a year after the launch of the premier digital currency. The Bitcoin Faucet was created by Gavin Andresen, an early developer of the flagship cryptocurrency and still one of the biggest names in Bitcoin.
It is interesting to note that Bitcoin faucets did not start by distributing satoshis. In fact, the number of Bitcoins offered by faucets has only decreased over time. The Bitcoin Faucet by Adresen was originally known for donating up to 5 Bitcoins simply by watching an ad on the website or completing other very easy tasks!
Originally, Bitcoin faucets were designed to promote the adoption of the technology, create awareness, and attract more users to the decentralized network. Over the years, this goal can be said to have been achieved to a large extent, given the popularity of Bitcoin.
How do Bitcoin Faucets Work?
As explained earlier, at its inception, Bitcoin faucets were mainly used to promote blockchain technology. Over time, the industry has evolved and Bitcoin faucets have also been remodeled. Today, many Bitcoin faucets also serve as intermediaries between advertisers and their target audience.
In exchange for providing a platform and audiences to advertisers, Bitcoin faucet owners receive payments in Bitcoins, which are subsequently distributed among users who visit the desired ad pages. So, an advertiser pays a certain amount to the faucet owner who provides services to the general public. By spending time on the website playing games or performing other tasks, you are exposed to advertising, and the site owner pays you for this exposure. This is the main concept of most Bitcoin faucets today.
As a user of a Bitcoin faucet site, you will be required to add your personal crypto wallet to the platform to transfer funds out of the platform when a certain number of Satoshis have been accumulated. Based on the current price of Bitcoin, the value of accumulated satoshis can be considered very low, but consistent participation over long periods and the potential for Bitcoin price to rise make the whole exercise worth a shot.
After all, when Andresen’s free Bitcoin faucet paid up to 5 Bitcoins per task, only a handful of people dared to think that the price of Bitcoin would explode to its All-time High (ATH) or even its current level.
Advantages and Disadvantages of a Bitcoin Faucet
Like any money-making opportunity, there are some risks with using Bitcoin faucets. Although it presents a sustainable model for earning Bitcoins, the Bitcoin faucet also has limitations that may not be suitable for many users, especially from a user perspective. Here are the main advantages and disadvantages of Bitcoin faucets;
The Advantages of the Bitcoin Faucet
- Most Bitcoin faucet websites are easy to use.
- Bitcoin faucets offer you the opportunity to earn Bitcoins without making an initial investment.
- The minimum payout on Bitcoin faucets is usually well-defined, so you can work with a goal in mind.
- Most Bitcoin faucets have referral programs that allow you to passively earn money through commissions when your referrals are active. So you can earn a small fortune doing nothing!
- Most Bitcoin faucets promote anonymity, allowing you to participate wherever you are.
Disadvantages of the Bitcoin Faucet
- The rewards on Bitcoin faucets are considerably low, which means you have to do many tasks over a long period to earn anything substantial.
- For Bitcoin faucets that offer jackpots, you often need to be a regular user to take advantage of them.
- To earn significant passive income, you need to depend on your referrals’ activities.
How to Choose the Best Bitcoin Faucet – Our Advice
There are many Bitcoin faucets available today that offer fundamentally similar services with a few differences here and there. Unfortunately, there are also fraudulent sites that claim to offer Bitcoins, but in reality, use visitor data for other purposes.
Before subscribing to a Bitcoin faucet, you need to consider certain elements and pointers that will help you make the right choice of sites to earn Bitcoins.
Here are some of the factors you should consider before deciding which Bitcoin faucet to sign up for.
1) Reward Amount
As a Bitcoin faucet user, the most important thing for you is to earn rewards. The sooner you get there, the better it will be for you. Therefore, it is always very important to know the amount paid for tasks and games before choosing a Bitcoin faucet. This will help you make proper plans on how best to use the platform.
2) Countdowns to earning Bitcoins!
The frequency of tasks and games plays an important role and ultimately determines the volume of satoshis you will earn. For many Bitcoin sites, the frequency or number of times you can play or do tasks is limited. This is why it is important to research the platform beforehand to find out whether you can continue to do tasks and earn BTC.
3) Minimum Withdrawal
The Bitcoins you earn on Bitcoin faucets are initially stored in a wallet linked to the platform. To profit from your earnings, you must first withdraw them to your personal crypto wallet outside of the Bitcoin faucet.
All Bitcoin faucets have a minimum amount that you must win before you can make a withdrawal. This amount often varies between 10,000 and 30,000 satoshis, depending on the platform (between $4.4 and $13.2).
If you want to make a quick profit, then you may prefer to use a Bitcoin faucet with a low withdrawal threshold. , if quick wins are your priority. Otherwise, you can choose a Bitcoin faucet with a higher withdrawal threshold if you would rather accumulate a significant amount of Bitcoins.
4) Withdrawal Methods
Always check the Bitcoin faucet withdrawal method before signing up. While some Bitcoin faucets will allow you to withdraw directly to your external Bitcoin wallet, others use intermediary services. Using an intermediary incurs additional withdrawal fees which can further reduce your earnings.
5) Referral Program
Referral programs on Bitcoin faucets are very common. With referrals, the faucet pays you a commission for each user who registers and participates in activities on the platform using your referral link or unique code.
Every time your referral is paid for tasks, a percentage is paid to you as a commission. This is why it is appropriate for you to research and understand the referral program of the Bitcoin faucet before you register. If done properly, referrals will constitute a significant part of your earnings.
6) Ease of Use
Another criterion that you should consider when choosing a Bitcoin faucet is a simple interface. Performing tasks and playing games is complicated enough and requires complete concentration. This is why you want to go for a user interface that simplifies the process, and makes tasks and games easier to find and access, rather than spending time and concentration trying to figure out how to play games or how to complete a captcha!
7) User Reviews
There are certain attributes of Bitcoin faucets that can only be determined by user experience. For instance, the degree of security of a platform or the quality of customer service is better determined by what users say about the platform.
Therefore, you can also research Bitcoin faucets by checking their ratings on trusted review sites to know the experience of existing users. You can learn from the experiences of others, rather than wait to experience them yourself, during which your losses or setbacks may be irrecoverable.
Best Bitcoin Faucets
Here are our top picks for the best Bitcoin faucets:
|Best Bitcoin Faucets Comparison Table
Multiple methods to earn Bitcoins. You can earn 200 satoshis every 60 minutes. Has a multiplier function on the siteStable and siteDirect withdrawal to personal crypto wallet. Minimum withdrawal of 50,000 satoshis
|A unique table game.
No registration is required. Players are anonymous. Free satoshis for new players. You can earn 100 satoshis every 30 minutes. You can earn BCH or BSV. Minimum withdrawal is 100,000 satoshis.
|You can win by playing a random number game. Bonuses range from $0.000 to $300. The minimum withdrawal is 0.0003 BTC or about $13. Withdrawals are sent directly to your wallet.
|You can claim 10-30 satoshis every five minutes. The minimum withdrawal is 5,000 satoshis
|Linked to XChange. Your account is linked to your XChange username which receives 10 Satoshis automatically. XChange account must be more than 24 hours old with 2FA verification to be eligible.
Cointiply is a robust free Bitcoin faucet site that offers users multiple ways to earn Bitcoins. Apart from regular games on the platforms which allow you to claim 200 Satoshis every 60 minutes, you can also earn rewards by engaging in other activities such as watching videos, participating in offers, viewing paid advertisements, and playing a series of online games.
Benefits of Cointiply
- Multiple ways to earn
- Good reputation for stability
- Direct withdrawal to your Bitcoin wallet
- User-friendly website
Disadvantages of Cointiply
- The withdrawal limit of 50,000 euros is relatively high
As the name suggests, Blockchain Poker is a Bitcoin faucet that focuses on the single game of Poker. You can visit the website and play for real Bitcoins without having to register and provide your personal details. The platform allows you to participate anonymously.
Benefits of Blockchain Poker
- Anonymous participation protects user privacy
- You can play from anywhere in the world
- You receive free satoshis for playing as a new user.
- The platform supports several cryptocurrencies
Disadvantages of Blockchain Poker
- Restrictions when your account goes below 50 satoshis can interrupt you.
- Only one game option is available
- High minimum withdrawal threshold which is set at 100,000 satoshis.
- High risk of fraudulent players who may sit at the same table with multiple identities.
As the name implies, FreeBitcoin is another free Bitcoin faucet that is very popular among crypto faucet users. When you visit the FreeBitcoin website, you are met with a nice interface that makes you feel good. The platform tasks are explained in a simple and concise manner that makes it easy for you to understand and participate.
Benefits of FreeBitcoin
- User-friendly site
- The Bitcoin community has given it a high rating for its consistency.
- Payment is made directly to your wallet
- Minimum payout is easy to achieve
- No initial investment is required
Disadvantages of FreeBitcoin
- Low rewards per game; you will need to play a lot to meet the minimum withdrawal threshold
- You must be a regular player to avoid a decrease in reward level
SatoshiLabs is considered the scalping version of Bitcoin faucets. This means that you can obtain rewards more frequently compared to other faucets.
Benefits of SatoshiLabs
- High frequency of rewards
- The minimum withdrawal target is easy to achieve
Disadvantages of SatoshiLabs
- The winnings are very small, so you have to play a lot to get good rewards
- A high frequency of rewards can be distracting
While this selection may seem confusing, this is a different Bitcoin faucet than the previously mentioned FreeBitcoin. The difference is the “s” at the end of the spelling. This faucet is linked to the XChange website.
Benefits of FreeBitcoins
- No need to register
- You get 10 free Satoshis from the start
Disadvantages of FreeBitcoins
- Experience with cryptocurrencies is required to participate.
Best Bitcoin Faucets – Our Final Opinion
In this article, we have covered a wide range of the best Bitcoin faucets. Keep in mind that you don’t have to choose just one particular faucet. While waiting for the timer to reset on a faucet whose rewards you have already claimed, you can always open multiple tabs for multiple faucets and switch between them. The cool thing about faucets is that even if they don’t offer significant value, they also don’t consume much time.