If you’re looking for ways to easily get your hands on Bitcoin (BTC), Bitcoin mining and trading might be the first few things that might come to mind. But if you want to take a simpler route, exploring Bitcoin faucets can be one of your best options. So what is a crypto faucet and how does it work?
Bitcoin faucets defined
A crypto faucet or Bitcoin faucet is a mobile application or website that gives away small amounts of BTC or other cryptocurrencies in exchange for completing simple tasks. You can earn money playing Bitcoin games, watching product videos, completing a captcha, answering surveys, clicking links, viewing ads, and a lot more. It’s called a faucet because the rewards it distributes are pretty small, just like tiny drops of water dripping from a leaky faucet.
Contrary to popular belief, Bitcoin faucets aren’t get-rich-quick schemes. While making money through a free Bitcoin faucet might sound like a piece of cake, earning a good amount of crypto can take a bit longer, depending on the faucet you’re using. Most of the time, the rewards you earn by completing various tasks will go directly to an online wallet provided by the website. It’s also important to note that the easier the task, the smaller the reward.
Some faucets also require a minimum payout, which means you can only withdraw the rewards you’ve earned after reaching a certain amount. This may take just a few hours, a day, a week, or even months. It all varies depending on the website’s rates.
Why were crypto faucets created?
Now that you know what these faucets are and how they work, you’re probably wondering why they were created in the first place. Here are some of the possible reasons why Bitcoin faucets exist today.
Spread the word about Bitcoin
Believe it or not, crypto faucets have been around for more than a decade now. A few years after Satoshi Nakamoto introduced BTC, senior Bitcoin developer Gavin Andresen developed crypto faucets to spread awareness about this new concept and type of money. Bitcoin faucets were designed and developed to distribute a reward of five Bitcoins for every completed task—that’s over 270,000 USD today!
Limited availability of crypto exchanges
In the early days of Bitcoin, getting your hands on crypto was tough. There weren’t many exchanges and platforms where you could easily buy amounts of BTC and other cryptocurrencies. So to introduce it and spark the interest of many people without asking them to buy, crypto faucets were utilized to hand off small amounts of Bitcoin for free.
Make money passively
Today, many BTC users make extra money by creating their own faucets. Owners often deposit a certain amount of BTC in their crypto wallets linked to their faucet website or app. Faucet owners can make passive income from the ads as long as they’re making more money than what they are dispensing to the users.
Aside from acting as an early reward system, distributor, and promoter of Bitcoin, crypto faucets have also served the purpose of educating people about the wonders BTC can do. For some crypto enthusiasts today, these faucets are powerful tools to make passive income.
How do crypto faucets work?
Earlier, we’ve mentioned that Bitcoin faucets reward you with small amounts of BTC after completing small tasks. The rewards you will get are in satoshis—the smallest unit of BTC named after its mysterious creator. How small is it? You can divide 1 BTC into 100 million satoshis. The amount you’ll receive depends on the kind of task you will complete and the faucet provider you’re into. It’s simply a case-by-case basis.
Often, crypto faucets send BTC payouts directly to your Bitcoin wallet or via a third-party micropayment wallet. If you don’t have a Bitcoin wallet yet, you can create a Paxful account and you’ll instantly receive one for free. You can access your Paxful Wallet via web browsers or the Paxful mobile app.
On the other hand, micropayment wallets, also known as micro-wallets, are similar to online or traditional desktop wallets. The main difference is that this wallet is designed to collect and store only a small amount of cryptocurrencies. Micro-wallets are usually linked to your faucet account and using one will help you manage your satoshis before you send them directly to your Bitcoin wallet.
Before you choose a Bitcoin faucet
The next step is to look for a Bitcoin faucet that will best fit your needs. But before you choose one, here are some of the most important things you should take note of.
- Timer – Cryptocurrency faucets often have a refresh or loading time, which can go from 15 minutes to a couple of hours.
- Claim amount – This tells you exactly how much you can earn and how often. This also varies depending on the simplicity or complexity of the task you will complete.
- Minimum withdrawal – Earlier, we’ve mentioned that some crypto faucets will require you to reach a certain amount of satoshis before you can withdraw your money. Many faucets offer a minimum withdrawal amount of 10,000 satoshis, which is equivalent to 0.0001 BTC or over 5 USD.
- Withdrawal method – To withdraw your funds, you’ll need a digital wallet. If you have a Paxful account, you can withdraw your cryptos in over 350 ways, including the most popular payment option in your country.
- Referral fee – You might also want to check out how much you can make by introducing the crypto faucet website or app to your friends and family. Some websites actually offer good bonuses, so be sure to consider this when choosing a faucet.
List of the most popular crypto faucets
Interested in giving Bitcoin faucets a shot? Here are some popular crypto faucets—in no particular order—for you to check out.
Cointiply is one of the highest paying Bitcoin faucets and rewards websites you can find. It allows you to multiply your coins by up to 61x and earn BTC by completing tasks, quick offers, surveys, and watching videos. This faucet also offers a loyalty bonus, reward points, fast payments, expert support, 25% referral claims, and much more. Cointiply’s app is available on Android devices.
This faucet allows you to earn cryptocurrencies like Bitcoin and Litecoin (LTC) by playing simple mobile games. It’s been around since 2014 and has a minimum withdrawal rate of 10,000 satoshis. You can earn up to 0.25 USD daily, depending on how often you take part in games. Bitcoin Aliens is available on both Android and iOS devices.
If you love role-playing games (RPGs), you might want to check out Faucet Crypto. It offers an RPG game style and other unique features, like items that give you different types of bonuses for your account. It also has a direct withdrawal option, referral commission of 20%+, and a level-up system that increases the rewards you get for a lifetime.
Faucet Crypto is also ideal for those who want to try a wide variety of cryptocurrencies. It supports BTC, LTC, Bitcoin Cash (BCH), Bitcoin SV (BSV), Dash (DASH), DigiByte (DGB), BitTorrent (BTT), Dogecoin (DOGE), Ethereum Classic (ETC), Ethereum (ETH), Komodo (KMD), Tron (TRX), and more.
This faucet offers features like daily ranking, where the top 20 users of the day can get huge rewards; a level system that allows you to increase your bonus as you level up; a referral system, and a lot more. Like Faucet Crypto, Fire Faucet also supports a wide range of cryptos. This includes BTC, ETH, DOGE, LTC, DASH, TRON, DGB, Tether (USDT), and Zcash (ZEC).
Coinpayu allows you to earn cryptos such as BTC, ETH, LTC, BCH, DOGE, DASH, and more by simply viewing different ads and completing various offers. It also has an affiliate program where you can earn passive income by inviting more users into the platform.
This Bitcoin faucet focuses mainly on advertisements, making it ideal for earners and advertisers alike. It allows you to earn 0.00003 mBTC or 0.0017 USD for every ad you click and referral click you get. Its affiliate program offers a 40% to 80% commission. BTCClicks also has a minimum payout of 0.10000 mBTC or over 5 USD.
If you want to put up an ad with BTCClicks, your cost-per-click can start from 0.00006 mBTC or 0.0034 USD. While this faucet doesn’t require any user signups, it’s important to note that your audience must view your ad for the entire duration of between 10 to 200 seconds to start earning.
If you’re a fan of game shows, you’ll surely enjoy answering questions on Satoshi Quiz. This Bitcoin faucet dispenses small amounts of BTC for the first three people who answer the question on the screen correctly. Note that the question changes every 60 seconds, so be sure to send the correct answer right away! Satoshi Quiz has a minimum withdrawal rate of 11,000 satoshis, which is equivalent to 6 USD at the time of writing.
Every drop counts
While it’s true that you won’t instantly receive a huge amount of BTC through faucets, accumulating small amounts for a certain period of time is still a good start if you’re new to the crypto world. Like tiny drops of water from a leaking faucet, small amounts of BTC, when accumulated, can make a significant change in your crypto journey.
Also, don’t limit yourself to one crypto faucet. Try exploring all the faucets in our list and see which ones best fit your crypto needs. Good luck!