There are various ways to earn cryptocurrencies, one of them being via bitcoin faucets. What exactly is a faucet then?
A bitcoin or cryptocurrency faucet is a website or mobile app that rewards visitors using bitcoin or other digital assets.
The faucet usually contains ads or such activities as surveys, games or simple tasks that visitors need to complete. Those who place adverts or surveys with these sites pay and the site rewards visitors a tiny share of the collected fees.
Users can also earn bonuses paid out in cryptocurrency when they refer their friends.
To claim the reward, faucet users need to give out their bitcoin or altcoin address. You then need to solve a captcha code.
Different faucets have different time limits for visitors to withdraw their earnings. It can be within minutes or a few hours, depending on the site.
There are several faucets out there, and new ones come up every other day. Two of the best faucets in the market at the moment are Cointiply and BonusBitcoin.
Here is what you need to know about them.
Cointiply Bitcoin Faucet
Cointiply is one of the new bitcoin faucets that are attracting a lot of attention at the moment. The site launched its services in February this year and currently has 95,165 users. It has paid out 13.63084742 BTC in rewards.
There have been a total of 5,128,920 faucet spins, 2,285,700 offers completed, and 686,453 games played.
It currently runs in beta version and is accessible all over the world. Users can earn up to 100,000 coins in an hour in 20 different ways.
The Cointiply spin allows users to earn a minimum of 18 coins with every spin of the faucet. Registered users can also earn a 25 percent referral commission and other bonuses when they roll a prime number.
Apart from that, visitors earn money by completing certain tasks, playing games, playing the Cointiply mining game, watching short videos, completing short surveys and when they install mobile apps.
Payouts are currently done directly via Bitcoin, DOGE or FaucetHub. These payouts can take anywhere from 24 hours to 2 days. The advantage is that the site pays all transaction fees, so users get all their earnings deposited into their accounts.
BonusBitcoin is another free bitcoin faucet that has attracted a lot of attention. It is accessible globally and has a simple sign-in process.
Unlike the Cointiply faucet, BB allows its users to claim their rewards every 15 minutes.
Users can receive rewards of up to 5,000 satoshis. The site allows the reward limit to automatically adjust depending on the prevailing exchange rates for BTC/USD. Another factor that determines what users earn is the website’s advertising income.
It also offers an automatic daily bonus of 5 percent. However, to qualify a user must have made at least one claim during the day.
BonusBitcoin users also are legible for a 50 percent lifetime earnings when they refer family and friends.
The site makes instant and direct payouts to user accounts at CoinPot. It also offers free withdrawals.
BonusBitcoin advises users who claim to have problems accessing their rewards to first check if they have blocked adverts. Another reason could be due to device or browser incompatibility.
Concerns about whether the site is legit or a scam have faded over time due to its continued existence and evidence of payouts.
You can earn some bitcoin and other crypto coins via faucets, though what you get at the end of the day may sometime not be worth the hustle.
While the two websites discussed above are quite legit, crypto users should be aware of similar fraudulent sites.