Bitcoin faucets are a fantastic method to get started with Bitcoin or educate others about it. I’ll go over several alternative methods for utilising them in this post.
Many different activities can be taken from using these faucets. Whether you are just into Bitcoin or trying to show someone how it works, this is a great way to get started.
Remember the golden rule of faucets: If you don’t claim your Bitcoin, someone else surely will!
What are Bitcoin faucets?
To begin with, you should know what these bitcoin faucets are and how they work. Bitcoin faucets are online rewards (usually) given to users in exchange for completing tasks like watching videos or clicking through sponsored links. You can also get paid for using free Bitcoin apps that you can get from the Google play store or the app store of your choice. These apps usually ask for permission to view your contacts, location, and sensitive log data–these third parties may sell your information to advertisers without giving any money back to you! That’s why I recommend using a free browser instead.
The majority of Bitcoin faucets are backed by advertisements. Ads pay the Bitcoin faucet for their service, giving your rewards in return. You can access a bitcoin faucet’s website directly or use the QR code on its page, which you scan with an app to transfer your coins. This is beneficial because every time you claim from a faucet, it shows up as ad revenue for that website, and they can claim back some of that money for themselves! It’s one great symbiotic relationship where all parties benefit.
Free Bitcoin apps are similar to sites in that they have videos to watch or tasks to complete, and some have no third-party advertising involved. Instead, these apps have ads built right into them, making it possible for them to pay you directly.
How do Bitcoin faucets work?
New crypto faucet site users will want to use the ‘claim your free Bitcoin’ option available on most faucet sites. You already know how this process works if you have used the Bitcointip bot on Reddit or the Money Button.
The Basic Idea:
– A user goes to a bitcoin faucet site and is given a small amount of Bitcoin for completing a captcha or task.
– The user then moves on with their life, and the faucet will provide them with more Bitcoin (usually slowly).
– User returns when a timer hits zero and completes a new task to earn more Bitcoin and repeat the process.
After clicking claim, you should be brought to a page with advertising and other websites selling Bitcoin-related goods after clicking claim.
Once you have coins in your Bitcoin wallet, what can you do with them?
Safley Spending & Storing Bitcoin
Remember some essential things before spending any of your hard-earned Bitcoin. Ensure that the vendor (person or company receiving the Bitcoins) is trustworthy. Check reviews on how they conduct their business and the quality of their products/services. It wouldn’t be wise to send all your money into a black hole! It is not recommended that you store your Bitcoin all in one place. This implies keeping the bulk of it on your computer and keeping some offline as “savings” for spending them without worrying about getting hacked or stolen since they’ll be harder to access/steal.
What are Bitcoin faucets suitable for?
The most obvious answer is as a free Bitcoin tester/tester group! Have you ever wondered how easy it would be to claim crypto from a faucet every day? Well, now you can see for yourself. Make sure to use the same address each time so that your Bitcoins build up over time. You should be able to withdraw anything more than 1-2 bits after about 5 days of claiming at maximum speed (which isn’t very much). If you want to let this grow exponentially, read below about micro wallets and auto surfing.
If you are already into Bitcoin or have just started looking into cryptocurrencies, Bitcoin faucets are a good introduction. The only thing that a bitcoin faucet can teach you is how to solve captchas and get paid tiny amounts of Bitcoin for doing so. Sites like these typically need little user input and are ideal for those who don’t have time or want to put out a lot of effort.
As mentioned earlier, faucet sites let you test out Bitcoin in a risk-free environment without actually buying any. You could make the case that this defeats the purpose of participating in Bitcoin because no one would want to spend 10 minutes every few days solving a captcha for 0.00001 BTC, but there are advantages!
For example, hodling bitcoin for long periods could see a net gain when the price of Bitcoin increases, making the small amounts much more valuable. Everything big starts out small!
So a great way to get used to using Bitcoin and seeing it in action is to use Bitcoin faucets. So go out there and do your research! I don’t make enough from my faucets alone to live off of yet, but I still enjoy participating because it’s fun, educational, and rewarding (in terms of earning free stuff). In theory, the more people legitimately earn Bitcoins, the higher they will go!