How Do Bitcoin Faucets Work?
Bitcoin faucets are online resources that allow you to earn bitcoins for free or for simple actions. Anyone can make money on faucets, no matter how old they are or where they live.
In this article, we will offer for consideration all the information about the bitcoin faucet phenomenon and how bitcoin faucets work.
How to buy bitcoin anonymously. Read more here.
What are bitcoin faucets?
You will basically receive money for viewing ads or performing other simple tasks (which will also be packed with ads). Advertisers pay the site owners, who share digital coins to attract new visitors. The user needs to:
- Register on the service.
- Perform the desired action.
- Get a payout.
- Withdraw the payout to your wallet.
How do bitcoin faucets work?
Bitcoin faucets, in which you can put the cue balls for withdrawal after some time, work according to the type of boxes. The algorithms of their work are very similar. The crypto is credited at fixed time intervals. Faucets earn money from advertisements, and part of their own profits are paid to users in the form of crypts.
To make a profit, the user must click a certain button or perform a simple task, such as passing a simple captcha, and that’s it, the crypt is credited to the personal account. Basically, bitcoin faucets pay in Satoshi (1 SATOSHI = 0.00000001 BTC).
Each bitcoin faucet has its own threshold amount for ordering a payout. But as soon as it accumulates, you can apply for withdrawal, which will be processed within hours or days. There are faucets with instant payments to other services.
Is bitcoin anonymous or not? Learn more here.
How to make money on bitcoin faucets
To earn money on a regular basis on BTC faucets, you need to discipline yourself to fulfill the conditions required by the specific site from which you take your bonus Satoshi.
Bitcoin faucets often require:
- A certain number of clicks on advertising links per day (surfing, paid emails, simple tasks)
- A certain number of ads read
- A specified amount of time on an advertiser’s resource (as indicated in the task)
Also, almost any internet resource, including a BTC faucet, will require registration. The account is needed to maintain statistics on it and secure withdrawal of money in the crypt. However, bitcoin faucets that do not require registration have begun to appear more often. As soon as a simple task is completed, a person enters the address of their bitcoin wallet in a special field, and Bitcoin-Satoshi is transferred to them in a matter of minutes.
An obvious fact is that, to start earning on Bitcoin faucets, you will need to create your own bitcoin wallet. And if you consider that the amount of rewards is calculated in Satoshi – that is, very little money – you will have to look for micro-wallet sites. And then, when something significant accumulates there, at least 0.001 BTC, transfer your bitcoins to a more secure storage, for example by sending them to a cold Trezor wallet.
Read more about the Trezor wallet here.
Bitcoin faucets are for very patient people. Although the earning process here is extremely simple, its profitability is low. With diligent farming, 30-50 bitcoin faucets per day for 4 hours a day.
Types of bitcoin faucets
Different varieties of bitcoin faucets can be distinguished by several parameters.
By the number of crypts that you get for free:
- Fixed remuneration
Random, within in a certain range of Satoshi
By the time interval between requests:
- Without a countdown counter
- A fixed interval until the next reward: 10 minutes, an hour, a day, etc.
- A random time when you are allowed to pick up a bonus
According to the withdrawal options from the faucet service:
- Output directly to the user’s Bitcoin address
- To the services of micro-wallets from the tap (most popular: FaucetPay)
- To other crypto repositories (Trust Wallet, Atomic Wallet, etc.)
By output time scripts:
- Instant payments without any commissions
- In semi-automatic mode, on request
Cryptocurrency faucets also differ in the number of available cryptocurrencies, as well as in the minimum amount for withdrawal, the degree of protection and encryption of data (for example, there are faucets even without https.)
Accumulative faucets (withdrawal is available only when a certain amount is accumulated)
An interesting feature of bitcoin accumulative faucets is the ability to withdraw crypto only after earning a threshold amount in cryptocurrency. This is a way to keep the client engaged.
The main advantage of sites that do not allow you to withdraw money immediately, but require you to earn a certain amount of Satoshi first, is the high chances of winning in special offers for the crypt. Another plus is a larger one-time payment amount.
Faucets with a timer
Such bitcoin faucets work with a timer that hangs above the button for receiving money, above which there is an advertising banner. The service itself sets how long you will wait for the next bonus in the form of a crypt. Usually, this is an hour, but there are also options when you have to wait a day.
Services of this type are very popular. People remember the interval and come to the PC in time to pick up their Satoshi. There are really popular and “fat” Bitcoin faucets. Here is a list of cool resources: FreeBitcoin, RenaFauset, FasterCkick.
Pay per views
In the early 2010s, bitcoin faucets worked according to a simple algorithm. A person registered and received a little crypt for watching a commercial or a banner from Google. Sometimes these were transitions to links with a timer at the top of this page (somewhat reminiscent of the bookshelves).
Today, more and more often we see services that have gone a slightly different way. They have become more similar to a casino, but you can still earn money from advertisements and links. In this regard, such hybrid cryptocurrency bitcoin cranes are Fiload, MineBit, Adbtc and so on.
This business is profitable, so in 2022 and into the future there will be even more of these faucets.
The best bitcoin wallets to pay attention to are here.
Advantages and disadvantages of Bitcoin faucets
Any type of service has its pros and cons.
Let’s start with the pros:
- An easy way to enter the world of cryptocurrencies for beginners.
- Ease of registration, use, and profit withdrawal.
- An opportunity to get acquainted with the principles of bitcoin, blockchain, crypto wallets, transactions and everything else that will later be useful for more serious tasks.
- An extremely easy way to earn Bitcoin Satoshi.
And let’s finish with the cons:
- Labor intensity. Very few Satoshi are paid for one action, so in order to get tangible earnings, you need to actively use 20-30 crypto faucets at once.
- A huge amount of advertising. Bitcoin faucets earn money from advertising views. There may be more than 10-20 banners on the sites at once, but you can’t turn on the ad blocker. Occasionally, you may come across faucets with as few as 2-3 banners, and they don’t flicker before your eyes. It is most pleasant to work with such faucets.
- Fraudulent projects. There are thousands of bitcoin faucets on the network, but only a portion of them work honestly, actually paying crypto to users. Before using each faucet, test it for at least a day, accumulate a minimum amount and try to withdraw it. If they pay out, then everything is okay. If not, do not use the service anymore.
- Small income. If you spend 8 hours a day just collecting these crypto bonuses, you may earn the equivalent of $200-300 per month.
So, it’s up to you to decide whether to use bitcoin faucets or not.
Find out how criminals launder income through bitcoin here.