For most people, bitcoin faucets are a waste of time. You will earn very little bitcoin and most people never earn enough bitcoin to make a withdrawal. If you want bitcoin you are better off buying small amounts of bitcoin over time. Here is a list of websites that make it easy to invest a small amount of money into Bitcoin.
India: Unocoin.com – Buy bitcoin with Rupees
Earn Bitcoin Playing Games
Best Bitcoin Faucets
What are Bitcoin Faucets?
A bitcoin faucet is website that will give anyone a small amount of free bitcoin. If you have a bitcoin address, you can use a bitcoin faucet to get free bitcoin! The amount that each bitcoin faucet pays varies, some pay hourly, some weekly. Most bitcoin faucets ask you to fill out a captcha or watch a short video advertisement to stop malicious individuals from draining the faucet of all its bitcoin. If you don’t have a bitcoin address, you can get one for free at Coinbase.
Are Bitcoin Faucets A Scam?
No, but they are not a good way to make money either. Faucets give tiny amounts of btc that fluctuate according to the value of bitcoin. Typical payout per transaction is less than 1000 satoshi, although many faucets have random larger rewards. Normally faucet saves up these small individual payments in its own ledger, and they add up to make a larger payment that is sent to your bitcoin address. This is to reduce mining fees Some faucets use immediate off-blockchain transactions, which have no fees.
Bitcoin Faucet rotators can ‘rotate’ through a large list of faucets by clicking a button on a single websites, meaning more sites can be visited than entering the URL of site after site. The website earns money through a referral system for each website visited. Faucet rotators can also prioritize faucets by their level of average payout and will only visit sites if the time limit in between payouts has been reached.
The business model of bitcoin faucets is to get advertisement revenue from banner ads and distribute only portion of that money to users. A time limit is imposed between payouts to stop bots, human captcha solvers in third world countries, or avid users performing repeated withdrawals.
As bitcoin transactions are irreversible and there are many faucets, they have become targets for hackers stealing the bitcoins