Purchasing Bitcoin is an introduction into cryptocurrency for the majority of people, however, not everyone is comfortable investing fiat currency in Bitcoin or other altcoins before getting familiar with the market. Depending on your geo location you might not have access to an exchange at all. Believe me, I know – I live in Serbia. If you have some funds on online payment systems (Paypal, Skrill, Payoneer…) you could exchange it on Reddit, but be careful there’s always a possibility of scam.
I would recommend getting a taste of what it’s like to manage a wallet and transact with altcoins by using faucets. At least gather 10 $ worth of cryptocurrency in your wallet, before investing your own money, so you can get a feel of value fluctuations and when is the best time to buy.
Disclaimer: Faucets are not a way to get rich fast – you will get minuscule amounts of cryptocurrencies, but they are in my opinion the best way to get into the financial world of the future. Also, I am a firm believer in Bitcoin price growth, considering incoming halving next year. But, it could crash.
What is a faucet?
Faucets are websites which generate rewards for users who complete various micro-tasks in exchange for loading a page full of ads. Most faucet sites host numerous advertisements, so they are able to offset their expenditures that way. Upon completion of a simple task or CAPTCHA, users are rewarded with a set amount of Satoshis (1 Bitcoin = 100.000.000 Satoshi).
|**Unit**||**Value in BTC**|
|Cent-Bitcoin (cBTC or bitcent)||0.01|
|Milli-Bitcoin (mBTC or millibit)||0.001|
|Micro-Bitcoin (μBTC or bit)||0.000001|
CAPTCHA is trying to stop bots from exploiting faucets. I think you should log into Google on the browser you are solving them since it is in the algorithms for determining whether you’re human. If they get too annoying and difficult to solve you should log out from your Google account which will reset them.
Faucets are using exchange APIs to buy Satoshis on the fly so that their costs are constant in dollars. This is why you’ll see payouts rise and fall throughout the day. They pay fewer Satoshis when Bitcoin goes up. If you want to accumulate more Bitcoin, redouble your efforts when Bitcoin falls, and stay with it when it rises.
Faucets I use
Many faucets are scams, abandoned or not maintained, so I will share faucets that, I personally, had confirmed are paying. They also have a referral system in place, where users can earn up to 25% of a friend’s earnings for life. This is the way to really increase your income and to help me by signing in using my links.
Coinpot is online microwallet which has multiple faucets linked to it. For each faucet claim, you will get 3 tokens which you can later exchange for cryptocurrency and increase the amount you received from collecting faucets. Minimum withdrawal is 20.000 Satoshi/50 Dogecoin… There’s also a lottery, challenges, and multiplier.
- Bonus Bitcoin can be claimed every 15 minutes. I would recommend changing your claim settings to always receive an average amount. It is the oldest faucet on the list, the current average is 12 Satoshi. http://bonusbitcoin.co/?ref=44785F432B4D
- Moon sister faucets are adding 1 Satoshi to their payout every few seconds. The longer you wait between collections, the bigger the payout. But it slows down after a while, in my experience, the best payout is if you claim every 30 minutes, although you can claim every 5 minutes gaining more tokens. It’s your choice. There’s also a loyalty bonus for daily visits, and a mystery bonus, both of which can significantly increase your payouts.
- Moon Dash: http://moondash.co.in/?ref=779144706FCC
- Moon Cash: http://moonbitcoin.cash/?ref=6E3389CB7080
- Moon Litecoin: http://moonliteco.in/?ref=ccdb0f139abe
- Moon Dogecoin: http://moondoge.co.in/?ref=3d43af1871bf
- Bit Fun can be claimed every 3 minutes and have interesting games to keep you occupied while waiting. http://bitfun.co/?ref=0CA095176FFE
- Cointiply has a faucet, multiplier, pay-to-click ads, videos, browser games… It pays in coins (10.000 coins= 1$.) Minimum withdrawal is 35.000 coins if you withdraw to Faucethub (another microwallet), or 100.000 if you withdraw directly to your wallet. The average claim is 19 coins, but it can go up to 100.000 if extremely lucky. You can claim every hour. http://cointiply.com/r/VNnZy
- co.in minimum withdrawal is 50 Doge, current average claim 0.21 dodge, you can claim every hour. http://freedoge.co.in/?r=3972420
- Bits-Pays has faucet you can claim every hour, elaborate PTC system, mining game, referral rent, revenue packs… Minimum withdrawal is 20.000 Satoshi but you need to pay 10% to instantly withdraw. If you don’t pay, you’ll have to wait eleven days for transfer. https://www.bits-pays.com/mem/index.php?r=constant
When you get seriously into cryptocurrency trading, you will need hardware wallet, but for my experimenting, I used Electrum for Bitcoins ( https://electrum.org/#home ) and Exodus for other cryptocurrencies ( https://www.exodus.io/ ) – which also lets you exchange cryptocurrencies and is ERC20 compatible.
Why is being ERC20 compatible important? So you could cash out on airdrops, another great way to make free money. My current favorite airdrop is https://bither.one/?ref=zuJy-GhR. They have faucet you can claim every two hours, tasks and daily quizzes on their platform which are the great way to get more familiar with cryptocurrency
Author : Constantine de Boudox
Born in Meissen, Germany in the winter of 1984, Constantine is currently living in Belgrade, Serbia. He lived in many different places all over the world and worked many different jobs which includes: Java development, short stories writing and history teaching. He has keen interest in cryptocurrency since 2012.