Bitcoin Faucets- What are they, and are they legit?

Are you interested in Bitcoin faucets? Usually, users get involved with faucets so that they have a desire to learn more about the industry and often get excited at the prospect of making free coins. It is also a risk-free, stress-free way to get started in the cryptocurrency industry without having to spend any of your money on investments. However, they receive both a lot of praise and criticism. Some people love them, and others think they are nothing but just a scam. But what are they? Bitcoin faucets are online apps or websites that act as a reward system for users who finish tasks set forth by a particular app or website. In exchange for completing a captcha or task, users get Satoshi, which, for those who do know is a one hundred million of a Bitcoin.

About Bitcoin Faucets

These are various bitcoin faucets, each with its own rules, though they usually are websites where you have to create your account and then complete a small task to receive bitcoin. In other words, these are websites that offer you minimal amounts of Bitcoin in exchange for you watching ads, completing super easy tasks or solving captchas. However, the coins slowly build up in your account on the site until you hit the minimum withdrawal limit. Moreso, Satoshis refers to the name of the units of Bitcoin that these sites offer. In brief, a Satoshi refers to the smallest amount of Bitcoin, and one BTC is equivalent to 100 million satoshis. But, the number of satoshis that a Bitcoin faucet could offer you for the tasks differ as some sites have high rates, while others have not so much.

The Purpose of Bitcoin Faucets

As Bitcoin is still relatively new to other people, so many individuals around the world still wonder what it is, how to incorporate it into their financial portfolios or let alone how to invest in it. That is why Bitcoin faucets come into play. They serve as a method to introduce newbies to the concept of Bitcoin without the risks related to investing. Many faucets struggle to offer information about Bitcoin to beginners. In short, faucets are a good way for individuals to know more about Bitcoin and gives them the chance to earn coins without risking any money. So they are practically sites that can become a fun and easy way to make some extra money. Also if you are a site owner, you may send traffic to a bitcoin faucet and make some additional affiliate profits. Today, bitcoin faucets have grown in popularity among Bitcoin fans, and there are many different bitcoin faucets for users to use.

Choosing the Best Faucet

So, now you know about Bitcoin faucets and the role they play in the crypto world. Now, how do you go about selecting the correct faucet, though? Firstly, you should not limit yourself to one single faucet. Limiting yourself to one faucet would negatively slow down your potential earning speed. Also, it will also take you a very long time to see any revenue whatsoever. So, you need to choose a few different faucets. In other words, the main criteria you should follow are the payout frequencies, reputations and the amounts of satoshis that the faucets offer. If a site tells you that it will pay you half a Bitcoin per day, it is probably a scam. Therefore, you must research the faucets you plan to work with and read some reviews around the internet. Furthermore, when you are sure that the Bitcoin faucet is legit, always remember it’s parameters and search for the next. Once you have three or four favorite faucet apps and sites in your disposal, figure out the rotation of each of them. But, it might take some time getting used to it. However, you should soon manage not to even think about it and gather your satoshis almost automatically.

Who should use bitcoin faucets?

Bitcoin faucets are free to use by anybody on the internet although some faucet providers, does not support some nations. But, the majority of visitors who uses these faucets and claim rewards are beginners; still learning about bitcoin who cannot do transactions legally on any of the bitcoin exchanges.

Security Hint

The most crucial faucet security hint is that you should never use the same password for different bitcoin faucets. Why not? Well, it is because there are many website owners; which make the bitcoin faucet site to get your password and try to hack your wallet. Therefore, if you use the same password, you are exposing yourself to hackers. So you need to be more careful when choosing passwords and use different passwords for each bitcoin faucet you use.

Conclusion

Conclusively, if you have been eyeing for something new to try, Bitcoin faucets are a good way to go. It is worth a try and to take a closer look into them.