What is a Bitcoin Faucet – Beginner Guide to Earning Free BTC
Are you new to the cryptocurrency world? Are you experienced, and want to enhance your crypto-portfolio? If you answered Yes to at least one of those questions, then welcome to the world of Bitcoin faucets!
What is a bitcoin faucet? These are websites which “dispense” tiny bits of Bitcoin to you for absolutely no out-of-pocket charges or fees. You read that right – you can get Bitcoin for FREE! (Note: Cryptalker finds it difficult to argue with “Free”!).
Keep reading to discover the most reliable, easiest, and quickest ways to get free BTC, and become some, or even more, involved with cryptocurrencies! There is something here for everyone, both novices and old hands alike!
What are Bitcoin Faucets?
Bitcoin is a decentralized currency system that doesn’t belong to any government, and grants you the ability to use it with complete anonymity. It’s not surprising that this digital currency quickly became a perfect payment method for completing small tasks by online users. And completing a captcha is one of the most common tasks that is rewarded by Satoshi (a hundred millionth BTC).
Basically, faucets are the websites that give away cryptocurrency for free. Yes, that’s right, FOR FREE. And there are multiple reasons why a certain website might want a user to complete a captcha but the main three reasons are:
- to get traffic to their website;
- to make money by introducing other content via the website;
- to simply introduce users to the crypto market.
Keep in mind that faucets aren’t a get-rich-quick scheme, as the reward amounts are typically quite small and fluctuate depending on the value of cryptocurrency at any given time. Because of this, many users who take part in crypto generators allow their total earnings to build up over time until they have a large enough payment to send to their wallet.
How do Bitcoin Faucets Work?
Faucets were created to promote cryptocurrency among people all over the world. They serve as a method of introducing people to the concept of cryptocurrency without the risks associated with investing.
So if you are one of those enthusiasts who wants to make money using a generator, you should learn the basics of this process. Faucets work by paying out tiny fractions of a Bitcoin when you load a page full of ads, watch videos, roll a random number generator (on a page full of ads), or play some other game (on a page full of ads). Certain projects, like Freebitco.in and Bitgames.io, use faucets as a loss leader to get you to visit the website.
Many websites offer additional services to users and because of the traffic driven by essentially free money, they end up generating a decent amount of profit.
Other projects that focus on non-Bitcoin related services or merchandise might use the faucet system to generate additional traffic to their website. Simply put, more traffic means more sales, which, in turn, means more profit.
Bitcoin faucet games is another way to get people acquainted with the world of cryptocurrency. E.g. Faucet Game platform rewards its users and encourages them to earn through a variety of games. There is also a dedicated chat room where users can earn even more by communicating in an active manner.
Some websites disburse payouts automatically, while others require users to initiate a payout. You should understand how generators work and make sure you withdraw your Satoshi! The worst thing you can do with a faucet is earn coins and leave them sitting there forever.
In addition to educating new users about Bitcoin, some projects choose to utilize faucets for a number of other purposes, as mentioned above they can improve their website monetization through increased traffic . Typically, generators attract high website traffic. If a business or a website has other services or content to advertise to crypto enthusiasts and users, a high-traffic faucet is a good way to get the word out and get more people familiar with a company or brand. Depending on the type of content being promoted, a website can also generate income, something that is difficult to achieve in the incredibly competitive market.
That’s why Bitcoin generators usually make their revenue by sharing its advertising revenues with content-generating users. Since advertisers usually pay per page impression and conversions (clicks), the faucet manager will divide the income with user for a specific task. The ultimate goal is to keep users coming back and spending as much time as possible navigating the pages to gain more ad exposure.
How Much Bitcoin Can You Expect to Make?
The typical reward per action is actually quite small. In exchange for completing tasks or a captcha, users are awarded some number of satoshis, (1 satoshi is one-hundred-millionth of a Bitcoin). It usually takes a long time to accumulate enough BTC for it to be worthwhile. Realistic average terms would be around $1 USD per day.
After you’ve earned your cryptocurrency on faucet websites, you have several options:
- store them in a Bitcoin wallet (it’s like your personal bank account, and there are several types of wallets: cloud, desktop, mobile, hardware) or a micro wallet (allows you to collect small amounts of BTC before transferring to your own wallet in order to reduce the transfer fees). Note: all faucets require a Bitcoin address.
- Use an exchange platform where you can exchange your coins for fiat currency (enter your wallet’s key for the exchange to connect it to the service).
- online purchases (spend your BTC to pay for certain services, purchases, games, etc.)
Are Bitcoin Faucets Profitable or Just a Waste of Time?
Earnings at Bitcoin generators depend on the reward size (usually pretty small), assiduity and carefulness of the user, and the ability to attract partners for referral programs. Empirical studies indicate a benchmark of average earnings at $100-150 per month, with the maximum of around $300. To achieve this kind of result, one will need hours of training, considerable day planning, a lot of free time, and the lack of other ideas about how to apply oneself.
For these reasons, a typical new user usually follows one of two paths:
- forever “forgetting” about free BTC, due to disappointment in the costs/earnings ratio;
- trying to automate the process using a bot (automated generator).
How to Hack Bitcoin Faucet?
A rotator bot is an algorithm capable of repeating user actions in round-the-clock automatic mode, working on a computer or remote servers and virtual machines. It means that you can come across a Bitcoin generator without completing a captcha, which allows you to earn Satoshi quicker. Auto generator is a simple script that allows users to get small amounts of cryptocurrencies every minute just by leaving open the tab with the script running.
You can select the degree of automation and robot’s type:
- in the form of a script embedded in a web browser that collects Satoshi on the website;
- desktop version with additional programs for increasing payments from faucets, making independent transfers to wallets and even trading on crypto exchanges.
The profit growth when using the robot happens due to the parallel collection of coins simultaneously on several websites.
However, searching for a robot on the Internet can lead to malware infection of the computer, especially if a user downloads and installs a desktop version. Thoroughly check software, join reputable communities, choose developers earning on referral payments from bot renting.
Is Bitcoin Faucet Legit?
Are Bitcoins worth it? Are such websites even legit? We may assure you that the revenue scheme itself is not a scam. But since the creation of Bitcoin faucets by Gavin Andresen in 2010, many fishy-looking projects have appeared out of nowhere to offer their services.
The most common way of scamming is a website full of adverts where you get to play the captcha game every 5 minutes or 1 hour. They will require you to gain some 20,000 Satoshi before you can cash them out. Eventually, when you reach the stated amount and try to transfer BTC to your wallet, they will inform you that you will need to play for 7 more days, and on and on it’ll go. We suggest you bounce off a website like that.
Proven Bitcoin faucet scammers:
Faucets are websites or online apps that act as a reward system for users who complete tasks and get Satoshi as a reward. In other words, faucets give away BTC for free in order to promote the use of this currency.
Even highest paying Bitcoin faucets won’t make you rich, but they’re a great way to get involved with cryptocurrency without buying coins. Generators pay out a fraction of a penny per use. What’s worth a fraction of a penny today, will be worth even more tomorrow if the price of BTC goes up.