Bitcoin faucets: scam or legit way to make money?

So recently a friend of mine asked for my opinion on Bitcoin faucets and mining. And honestly I didn’t even understand what he was talking about. I mean, I know what a Bitcoin is but Bitcoin faucets and mining? Sounded shady for me.  But for some reason he was really excited.

So I decided to see for myself and did some research on the topic.

Here’s what I learnt.

BITCOIN FAUCETS

Basically, Bitcoin is digital currency that can be stored in a digital wallet. It’s pretty easy to set up your own digital wallet. I went ahead and made one on Blockchain.

Since your name or address or anything personal is not associated to your Bitcoin wallet (all you need for transactions is your wallet address), it allows you to make anonymous purchases on the web.

Bitcoin faucets are reward systems, that give out a small amount of satoshi for free.

The satoshi is the smallest unit of the bitcoin. It is a one hundred millionth of a single bitcoin (0.00000001 BTC). Usually faucets give out about 40-100 satoshi every time you claim. On some sites you can claim every 5-10 minutes, some sites need longer periods of time. Also most sites don’t let you withdraw until you have met the threshold (ususally about 20 000 satoshi) in your microwallet on that site and considering the amounts you can get with each claim, that’s gonna take some time. Only exceptions for this were XBit Coin (pays immediately through ePay) and Daily Freebits (allows withdrawal when you have 700 satoshi)

So shortly put, to get your free satoshi you have to go to the faucet website, enter your Bitcoin address, solve the captcha and click “Claim”.

Sounds pretty easy, right?

But there are SO MANY faucets! I tried out SO MANY different sites and finally decided to make a list of the ones that actually worked (and I actually liked) so that if anyone else is interested, they won’t have to comb through hundreds of sites as I did.

Honestly, I have never entered as many captchas as I did these past few days.

First three are the rare ones that allow you to use Adblocker, other faucets require you to disable it.

FAUCET NAME REVISIT TIME AVERAGE CLAIM THRESHOLD
Moon Bitcoin 5 min Depends 25 000 satoshi
Bonus Bitcoin 15 min  50 satoshi 10 000 satoshi
Free Bitcoin 60 min  100 satoshi 30 000 satoshi

The claim amount for Moon Bitcoin depends on how often you claim. The amounts are smaller if you claim every 5 minutes, but they get bigger if you wait longer.

FAUCET NAME REVISIT TIME AVERAGE CLAIM THRESHOLD
Chronox Coin* 5 min 10-355 satoshi  (5 min-4 weeks) 20 000 satoshi
Field Bitcoins* 5 min 14 -200 satoshi (5 min-1 day) 10 000 satoshi
Time for bitcoin 5 min 49 satoshi 20 000 satoshi
Xbitcoin 5 min 40 satoshi Immeadeately through EPay
Sunbtc.space* 5 min 1-166 satoshi (5 min-1 day) 20 000 satoshi
Bitcoinker 5 min 45 satoshi 20 000 satoshi
777bitcoin 60 min 45 satoshi 25 000 satoshi
Dance Faucet 5 min 55 satoshi (value of each ticket chenges daily). Waiting longer between claiming gives more tickets. 20 000 satoshi
Bitcoland 10 min 45 satoshi Any amount using Faucethub
Autofaucet 10 min 130 satoshi 100 000 satoshi
Dailyfreebits 60 min 55 satoshi 700 satoshi
Bitcoin faucet 60 min 192 satoshi 5640 satoshi

*  Amount of claim depends on how often you claim. The amounts are smaller if you claim every 5 minutes, but get bigger if you wait longer.

I also found two websites that should mine bitcoins for the user, at very slow rate of course, but you don’t have to do anything.

1. First one is Bitminer which looks adorable with that cute litte guy 🙂

Mining rate is 0,0006 BTC in a day and you can withdraw when you have 0,005. I should be able to withdraw with the amount I have at the moment, but it says I have 2 accounts from the same IP (which I don’t) and the withdrawal keeps pending. Could be just my problem but could also be that you really can’t withdraw from there.

2. Second one is Minecloud

This one collects both dollars and Bitcoins and you can distribute the mining power between the two. For example you could choose to only mine Bitcoins, and then the mining rate would be 0.0000240579 per day.

 

There is also a site called EOBOT which allows you to choose which cryptocurrency you want to mine. It’s also free.

Conclusion

I have to admit I did get pretty into this whole bitcoin faucet thing but it is very time consuming. So I think that if  I kept using the faucets it would only be once a day. The mining sites can keep mining for me and if they ever reach the needed threshold for withdrawal, then I guess I’ll check in from time to time for that.

Here are the pros and cons of bitcoin faucets in my opinion:

Pros:

  • Registration only needs your bitcoin address, no username or password are needed.
  • Easy to use (you don’t really have to do anything but fill in the captchas)

Cons:

  • Very time consuming if you want to earn reasonable amounts.
  • A lot of ads (most sites request you to pause Adblock)
  • Only small amounts of satoshi with each claim

As to answer the question in the title, I’m still not 100% sure. I mean, apparantly it is possible to earn some money this way but the amounts are pretty small unless you use all the faucets that are available and do that every day, multiple times a day.

Have you used Bitcoin faucets and do you think they’re worth the time? I’d love to hear your opinions in the comments!

Author: burgundyblueberry

Hello and welcome ! I'm a special education teacher with a passion for art (that includes martial arts :D). I love making hands-on worksheets and resources for my students that make learning more interesting for them. I'm glad to share my experiences and thoughts on teaching, art and other things I find fascinating :)

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