It may surprise you to know that there are tonnes of websites that still offer free Bitcoins in the form of Satoshis in 2020. These sites are called Bitcoin faucets.
Just like dripping faucets (or water taps), these sites give out Satoshis in small amounts, like the leaking water that drips from a faucet. The amount of Bitcoin given out by these types of sites are relatively small, but it's still very popular. Because, hey, who doesn't like free stuff? Especially free Bitcoins.
Bitcoin faucets are crypto websites that give out free Satoshis for completing certain small tasks. Just like how drops of leaking water take time to accumulate into a droplet, users will need to wait for a period of time before they can collect the accumulated Bitcoins that are dispensed by the faucet website. If you want to accumulate bitcoins through these sites, you may need to estimate how much time you are willing to spend on the internet to get your target amount. Just in case you are not sure, 1BTC= 100,000,000 satoshis.
There are no free lunches in life. And that also applies to Bitcoin faucet sites. Although users get a chance to get free Satoshis, it's not necessarily completely free. After all, the faucet website owner will need to get their Bitcoins (or funds) from somewhere to give them out to users, right?
Bitcoin faucet websites monetise through ads. When you visit the site, you'll notice that there will be a lot of banner advertisements everywhere. These ads are sourced (or pulled) from advertisers (or ad networks). The advertisers will pay a certain fee to the faucet site owner for displaying their ads on his or her site.
The fee is calculated on a Cost per Thousand (CPM) impression basis. That means the more people that view the ads, the more payment the site owner will receive. A portion of that payment from the advertiser will be given away for free to users, while the rest will be retained as the faucet site's profits.
In summary, the faucet sites get paid by advertisers and the users will be paid from the advertiser's payment to the faucet website owner.
There are many Bitcoin faucets portals on the web. Most are legitimate faucet sites, while some are scams and will attempt to phish for your personal information or wallet private key.
If you're planning to try to get hold of some free Bitcoins, here are 5 sites that we recommend:
BonusBitcoin is one of the oldest and most reputable faucet websites around. The site allows users to claim an average of 24 Satoshis every 15 minutes. It also has a coin multiplier, surveys and other offers for those who want to increase their faucet earnings.
The accounts on Bonus Bitcoin are connected to Coinpot - a micro earnings crypto wallet that helps to accumulate and hold your payouts (specifically from faucet sites). It has a minimum withdrawal limit of 10,000 Satoshis with a fee and 50,000 Satoshis without a fee.
Coinpot is relatively easy to use although it has a lot of bugs. You'll need to be a little patient when withdrawing as it can be a hassle due to the occasional bugs in their system.
A faucet run by the Moon Bitcoin website, Moonbit has been up since 2015. Similar to BonusBitcoin, Moonbit gives away free Bitcoin on specific durations of time. It allows users to claim an average of 10 Satoshis every 5 minutes.
Users can also receive their Bitcoins by participating in Moonbit's in-browser mining to increase their rewards. By lending part of your CPU power, you will be given free Satoshis. It might be a more cost-effective way compared to conventional crypto mining, but the amount of Bitcoin you'll receive is also a lot lesser.
Just like BonusBitcoin, Moonbit pays out via Coinpot at a minimum withdrawal of 10,000 Satoshis at a fee and 50,000 Satoshis with no fees.
Bitfun - just as the name suggests - is one of those Bitcoin faucet sites that makes receiving Satoshis fun. Rather than giving it away for free based on specific durations, Bitfun gifts Satoshis to users for playing games, viewing ads, and playing their dice game.
The amount of Satoshis given will depend on the duration that the users take to play their games or view the advertisements. Bitfun is a great initiative of getting more users to onboard in the crypto space and increase Bitcoin adoption.
Similar to BonusBitcoin and Moonbit, Bitfun also uses CoinPot for withdrawals.
Cointiply dispenses up to 200 Satoshis per hour and is one of the highest paying Bitcoin faucets around. This crypto faucet site allows users to multiply their Satoshis by watching videos, viewing offers, clicking ads, and playing simple in-browser games - including a prediction-based coin multiplier minigame.
Users can withdraw their Satoshis to Faucethub for withdrawals of 35,000 to 100,000 Satoshis. For amounts larger than 100,000 Satoshis, users are able to withdraw directly to their own wallet addresses.
At an average of 7 Satoshis, Bitcoinker's faucet dispensement is relatively lower than other larger faucet sites. Though users have the chance to win up to 100,000 Satoshis every 5 minutes, which is quite a generous payout.
Bitcoinker also has a referral programme, with commissions of 10% and 25% (for more senior members who have used the platform for a much longer time).
Payouts are made on a weekly basis and done directly to the user's Bitcoin wallet (for a minimum withdrawal of 20,000 Satoshis).
Bonus Bitcoin faucet websites are an easy way to get into the crypto space and earn some free Satoshis at the same time. You won't earn a lot, for sure, but over a long period of time, you might just get a good fraction of Bitcoin. There are also some blockchain projects like Brave browser, a privacy-focused chain, that pays BAT tokens as rewards for watching ads on their platform. So if you add these tokens from here and there, accumulate them for a while and convert to bitcoins, they could amount to something substantial if the price had appreciated. The Satoshis you earn today might be worth a lot more in the future.
Just make sure to do your due diligence and only participate in more established Bitcoin faucet sites.
