With Bitcoin dominating the global economy for the past few years, people are showing keen interest in finding out the various ways they can make money from Bitcoin. Though there are many ways to make money from the world’s largest cryptocurrency, it depends on a wide range of factors like a trader’s technical know-how, trading experiences, risk-taking abilities, and how quickly he wants to see the rewards.
One of the easiest ways to earn money from Bitcoin is by mining, in which new coins are created and verified before they are added to a Bitcoin blockchain. For this, miners charge a fee termed as the ‘miners fee’, which is more like an incentive rewarded to the miners for their services. There is Bitcoin lending, Bitcoin trading, micro jobs, and Bitcoin faucets that help users earn a good amount of money from Bitcoin.
What Is Bitcoin Faucet?
Bitcoin Faucet (which in Spanish means “tap or source of Bitcoin”) is a reward system by which visitors are rewarded with small amounts of Bitcoin called “Satoshi” for the completion of certain tasks. Like completing a captcha or participating in a game, or simply viewing an advertisement on the Bitcoin faucet websites. These activities hardly cost anything to the viewer, apart from the time they are investing in viewing the advertisement. But this helps the faucet owner earn a good amount of money, out of which the viewer is getting a small share.
Working of Bitcoin Faucet
Bitcoin Faucets work virtually by solving simple tasks or by participating in activities that are already established. Each faucet website independently sets how many cryptocurrencies they will award viewers or performers as a reward. Also, these rewards have specific time limits within which they need to be claimed; otherwise, they will be elapsed.
Bitcoin users who are keen to earn money from Bitcoin first need to register their names on any of these Bitcoin faucet websites with an active email address and a Bitcoin wallet address to receive Bitcoins and store them in. The registration process gets completed in a few steps, and then users can start completing the tasks assigned on the website and get Satoshis as a reward which can then be transferred to the individual wallet of the users.
Importance of Bitcoin Faucet
Bitcoin Faucets are a great way to promote and publicize Bitcoins to people by offering them free coins in exchange for completing certain tasks. In reality, there is no such system in the cryptocurrency world where coins are given for free, and so not are the faucets; faucets utilize your time in exchange for the coins awarded to you. People are motivated to be a part of the crypto world (without investing in them and thus averting the inherent risks) to know how the system works, and thus it serves as a great way to reach the crypto coins to more users.
List of Highest Paying Bitcoin Faucet
Some of the highest paying Bitcoin faucets are:-
- Bonus Bitcoin– Pays out 5000 Satoshis every 15 minutes
- Bitcoin Aliens– Pays the users 4000 Satoshis for their participation in the activities within the faucet.
- FreeBitcoin– The first of its kind that additionally offers interest for the balances, which is at least 30,000 Satoshis.
- FreeBitco.In– Offers users free Bitcoins every hour for participating in some simple games on the website. This faucet website also allows users to earn through a referral contest by bringing friends and relatives on the faucet platform.
- TF Bitcoin– With this faucet, users can get up to 5 free Satoshi coins every 5 minutes.
Faucets are a great way to earn a lot of money, but it takes time as each faucet pays only a handful of satoshis to the users even though the faucet administrator earns a lot of money. Therefore, it is very important to assess each faucet website’s conditions and analyze whether it is worth investing time to accomplish the tasks assigned by the website. It is also advisable to stay away from these faucet websites if anyone does not understand how these faucets work because they are insecure. Also, the profits offered are very little for the risk associated with each one of them. Apart from that, You can make good money from Bitcoin trading just by choosing a trusted Bitcoin robot – Bitcoin Revolution. It is an automated trading platform that can help you out to make good money from Bitcoin trading. Check out Bitcoin Revolution Reviews to know further more about this amazing platform.
Paula has recently joined the family of FinanceWhile News. She holds a master degree in Economics and holds vast experience in dealing with different types of content for print as well as digital media. When Paula is off work, you will find her engrossed in books and music.