Want the best crypto faucets to boost your online income? We’ve put together an informative piece to help you choose the best BTC faucets to supplement your online income. But first, what are BTC faucets?
What is A Bitcoin Faucet
When bitcoin was still in its earliest stages, one of its core developers Gavin Andersen introduced a reward system where he would reward random users with BTC in a bid to make the cryptocurrency popular. Gavin gave out these free BTCs on a website, and random users got as many as five bitcoins at a time.
This reward scheme of disbursing free coins through a website is what we refer to as bitcoin faucets. These faucets offer small amounts of BTC to their users every hour. These freebies attract users to stay on the websites and interact with the content or products listed on the websites.
Today, faucets have become more of a commercial enterprise. Unlike the old days when the faucets were for marketing purposes, owners of these faucets use them to drive traffic to these sites or to watch ads. A lot of these faucets have a referral reward system where users get BTC rewards for referring new users to the sites.
Are BTC Faucets Legit
The premise of rewarding users with free BTC sounds like a scam, but it is not. BTC faucets are legitimate although some crafty individuals have found a way of making scam faucets.
Scam BTC faucets are sites which claim to dispense free BTC in exchange for viewing ads or logging into the web pages a given number of times per day. Such scam sites often have a very high minimum withdrawal limit, and even after customers fulfilling the requirements, they still can’t withdraw the funds they managed to earn.
Some faucets ask their users to deposit money into their wallets before they can access their coins. Legitimate faucets don’t need any cash deposit for the users to withdraw their earnings.
Before signing up to a BTC faucet, therefore, read its reviews online to see if they have any bad reviews regarding their service. If there is any claim foul play, you should run.
While the scam BTC faucets continue to taint the name of faucets, there are hundreds of legitimate BTC faucets which pay their users with real BTC. Here is the list of the best crypto faucets which will pay you for microtasks.
Are BTC Faucets Profitable
While BTC faucets don’t pay much, they are a good way to supplement your income. If you have a great network you can refer several friends to these faucets and double or even triple your earnings.
If you spend a lot of time online or are just getting started in Bitcoin trading, then BTC faucets are an excellent way to earn your first BTC. With enough patience and enough referrals, you can make a few coins from the BTC faucets.
These faucets are, however, not rich quick schemes. Any faucet that claims to make its users rich is outrightly lying to its users, and they should run away. They are profitable only in the sense that they pay you for doing microtasks.
Check out the top crypto faucets today, earn some bitcoin and start trading anonymous on Godex. Godex makes it possible to exchange between more than 200 coins at very fair rates without registering to the platform. How convenient?