Bitcoin faucets are good way to start and have fun
There’re a lot of sites giving away bitcoins for free. Sometimes you don’t even have to do simple tasks. Just log in, solve the captcha and claim your free bitcoins. These sites are called bitcoin faucets. Let’s read wiki bitcoin faucet article.
Bitcoin faucets are a reward system, in the form of a website or app, that dispenses rewards in the form of a satoshi, which is a hundredth of a millionth BTC, for visitors to claim in exchange for completing a captcha or task as described by the website. There are also faucets that dispense alternative cryptocurrencies.
Why are sites owners lavish? They are not. It’s all about traffic. Internet is a simple thing. You have spendings on creation and distribution a web page from one side, and profit you get from the page from another side. Sounds simple but faucets are not the easy business. To start a faucet you have to secure BTC or cryptocurrency you want to give users, think about marketing, transferring fees and revenue. Easy to say, hard to do.
The only way bitcoin faucets earn is advertising. You see lots of ads while solving the captcha and claiming. And here we have the big problem. Google hates bitcoin faucets. It banned them from advertising platform Google AdSense some years ago. There are some bitcoin-based advertising networks but they pay not much. Bitcoin faucets have only one solution: became very big. You may trust big sites, their owners are aware of the reputation and they know how to earn from bitcoin faucets.
Are bitcoin faucets legit?
You will hardly become reach using bitcoin faucets. It’s good gate to cryptocurrency world. You spend nothing and you have to understand how stuff works. The best way to get coins is to buy them. But it’s a bit complicated for a newbie, so I strongly recommend you to start with faucets. Spend some days, collect some coins. Every second step will be easier for you than previous one.
How to know if a site is big enough to trust? Check statistics with SimilarWeb. Let me show you with probably the biggest of bitcoin faucets, FreeBitco.in. Go to SimilarWeb site and enter site address to search box. You’ll get a page with all digits you need, here’s the link.
As you see, FreeBitco.in is extremely popular. Coinmarketcap grows bigger only in December 2017 when cryptocurrencies rates skyrocketed. It means the site is big and it’s admin takes care of the reputation. To help you became familiar with this wonderful site I wrote big FreeBitco.in review.
There are some other popular bitcoin faucets. I will write a review of every worth attention, now let me share one link. #2 in my bitcoin faucets list is Fieldbitcoins. It’s overloaded with ads but simple and paying. Before start register Xapo wallet, otherwise, you’ll spend too much time to collect for withdrawal. You may withdraw to Xapo when your balance is 200+ Satoshi, it’s totally collectible.
Sites I’ve linked to, pay. But there is always some scam around. How to avoid a scam? First, never join big withdrawal faucet. They promise much but pay nothing. Second, do little maths. Do you understand, if this site profitable? How does it earn?
Good sign to avoid faucet is Google AdSense ads. If you see them, it means the bitcoin faucet is new and you may get nothing from it, because the only goal of admin is to get one payment from AdSense. Google bans faucets from it’s ads so admin will be lucky to get one payment.
Check if a faucet has a thread at bitcointalk forum. Admins who care, create threads and support them.
This simple steps will help you to protect yourself from waisting time. Again, the best way to get some coins is to buy them. But bitcoin faucets is great start point.