5 Best Bitcoin Faucets for 2018
Here you will learn what a bitcoin faucet is and how to exploit this idea using the top five faucets for 2018. If you are wondering how bitcoin can become real dollars, I go through different options to buy products online using bitcoin and exchange them into real hard cash straight into your bank account or a debit card.
What Is a Bitcoin Faucet?
A bitcoin faucet is a reward system in which users participating in the program get small amounts of bitcoins known as Satoshi’s, which is the equivalent of cents or pennies of a full bitcoin (a hundredth of a million BTC). Users get rewarded with Satoshis for performing different tasks in a website or app, usually for filling out a captcha but most recently for playing online games.
How Much Bitcoin Can You Expect to Make?
The typical reward per action is not much. It usually takes a a long time to accumulate enough bitcoin to be worthwhile. Realistic average terms would be around $1 USD per day.
The average payout is very random depending on the faucet. Faucets usually make overly optimistic claims. Nevertheless, some of the most popular faucets have a random large payout reward for seniority, referrals commissions, and large payouts if you defeat a big boss.
How Does a Bitcoin Faucet Make Money?
Faucets make their revenue the same way Hubpages.com makes theirs, by sharing its advertisement proceedings with the users that are generating the content. Since advertisers usually pay per page impression and conversions (clicks), the faucet manager will divide the income with the user for a specific task. The ultimate goal is to keep users coming back and spending as much time as possible navigating the content to gain ad exposure.
How to Claim the Bitcoin
While you can see your balance of Satoshis, a faucet project will not release your payment until you have reached a certain minimum amount to process payment.
These will be transferred to your bitcoin wallet. From then on you need to exchange your cryptocurrency in a bitcoin exchange for hard cash or buy products online with your bitcoin. Buying products can be a lower-fee solution as you can later sell them for USD without having to pay the exchange fees.
Are Bitcoin Faucets Scams?
The revenue scheme in itself is not a scam. But since the creation of bitcoin faucets by Gavin Andresen in 2010, many fishy-looking projects have appeared out of nowhere to offer their services. Since bitcoin is not a regulated currency, transactions occur anonymously; there is nothing from stopping online faucets from never paying its users.
These types of schemes usually default at some point because they are too under-capitalized to pay all users; remember Bubblews.com? Since the advertisement exposure is not receiving quality prospects, those programs tend to stop running on bitcoin faucets.
Another risk faucets undertake are hackers that steal bitcoins by gaming the system, since bitcoin transactions are irreversible it makes it hard to protect against hackers.
Nonetheless, there are some reputable bitcoin faucets that have been in the market for a long time and have a large user base.
Top 5 Bitcoin Faucets
A recommendation before you join a certain faucet: shut down your ad blocker or once you claim your earnings you might not be paid. The whole system works based on ads, if you don’t watch them, no pay! And nobody tells you this at the beginning, only when you make a claim.
1. Robot Coin
Payout: 1,000,000 satoshi plus all earnings during the game once completed.
Earn bitcoins from destroying robots. Just like a game, you get harder robots as you advance, and the final boss fight will award 1,000,000 satoshi. When the game is completed you restart from level 1, which is kind of a bummer game-wise. It is owned by Fun Coin Games who also manage Wonderland Coin and Monster Coin Game, same modus operandi for these faucets. All pay for referrals.
2. Bitcoin Aliens
Average Payout: 4,300 satoshis per hour.
One of the most entertaining of faucets and decent in payout, here you won’t have to complete surveys or fill in capthchas, instead you get to kill aliens. Each kill accrues a payment, so you get paid to play. This is number one because having fun while earning money is sometimes easier that earning a lot more for pointless tasks.
Bitcoin Aliens funds its enterprise with CoinAd.com banner advertising. Sponsors are other bitcoin merchants like bitcoin casinos and altcoin ICO’s.
As of December 06 of 2017 Bitcoinaliens.com is up and running.
3. Bonus Bitcoin
Average Payout: 40,000 satoshis per hour.
As mentioned, one of the problems with faucets is poor capitalization; the revenue from ads is small and they usually run out of liquidity to pay their users on time. Bonus Bitcoin eliminates this risk by grouping together many faucets together under one brand.
What’s even more special about it, is it doesn´t restrict users to a limit of time spent earning bitcoins. Faucets force you to wait some time, 10 to 15 minutes, before repeating a task; here you can complete the limit on one faucet and then move on to the next.
As of December 06 of 2017 Bonus Bitcoin is up and running, although it took around 30 seconds to load.
As old as Bitcoin Zebra but it has changed owner several times. High payouts that get larger the more time you have spend on the site (known as seniority payments) and great referral commissions.
As of December 06 of 2017 Bitcoinker is up and running.
5. Moon Bitcoin
Payout: 5,000 satoshi every 45 minutes.
Just a simple “look at ads” faucet, but one that is well known in the community with high payouts. You can claim your bitcoins at any time. A warning: I got a Trojan infection warning from my antivirus when I visited the site. Still, Moon Bitcoin is one of the most-mentioned faucets out there.
Reputable Faucets that Have Expired
Average Payout: 3,000 satoshi per hour.
A very old faucet that survived for quite some time until July 2016 when it stopped posting payment updates on Twitter. Users earned by feed a zebra every few minutes. Payments were processed to Faucetbox or to your Xapo wallet. The domain bitcoinzebra.com no longer works and they became a ghost online, no news about the disappearance.
Where to Use Your Earned Bitcoins?
There is always the option of exchanging your bitcoins to a hard currency like USD or EUR, but there are mining fees involved as well as taxes to be paid if you are in the US. You will need a wallet and an exchange service.
A bitcoin wallet is a software you can download to your computer or phone, its your own personal bank. You can also use cloud stored wallets, and some of the main services that will be reviewed include one.
An exchange is a website were you can exchange your bitcoins for currency, you enter your wallet's key to the exchange to connect it to the service, send bitcoins and receive USD.
A better way of spending your bitcoins is buy online purchases, or other services like sports betting or bitcoin casinos.
Online Bitcoin Shops
Spendbitcoins.com is a highly trusted website with an open face as to who owns the shop. Jeremy West is one of the very first Bitcoin users back in 2010; he began using the coin when PayPal refused to conduct donations to Wikileaks. In essence he is trying to be an Amazon for bitcoin users, uniting dozens of merchants worldwide through his platform.
There is a big flaw to spendbitcoins.com, and that is despite the fact is safe and user friendly, when you browse through the product categories you will notice they are almost all empty. You can find mostly electronics, but the video games, baby, toys sections are all empty.
Overstock.com is probably one of the biggest home appliance retailers to use bitcoin as a payment option. It is partnered with Coinbase, one of the most popular and safest bitcoin wallets. Note that bitcoin is only accepted as a payment method for USA users, and not international shipments. At Overstock you can purchase almost anything for your house like furniture, kitchen, décor and also clothing for women, men and children.
Newegg.com is a premium and large gadget online shop that accepts bitcoin through Bitpay.
While Amazon and BestBuy may not accept bitcoin at the moment, a lot of other services will take your bitcoin in exchange for Amazon and BestBuy giftcards. The first website to do so was SpendCoins.com, but you could also try the popular eGifter and Gyft.
eGifter offers giftcards for: Amazon, JC Penny, Sephora, Home Depot, Kohl’s, Adidas, Applebee’s, Bed and Bath $ Beyond, Best Buy, Domino’s, Dunkin Donuts, iTunes, Macy’s, Nike, Nordstrom, Panera Bread, Uber, Burger King and the list goes on and on.
Gyft offers giftcards for: Bloomigdales, Dunkin Donuts, Ebay, Hollister, Macy’s, Nike, Sephora, Southwest Airlines, Starbucks, Target, Uber, Home Depot, Under Armour, Ulta Beauty, Whole Foods and a lot more.
Uses Coinbase for their bitcoin transactions.
Microsoft and Green Man Gaming have begun to offer games and apps in exchange for bitcoins. Minecraft is using bitcoins to power their in-game currency.
Steam began offering bitcoin payments worldwide with the goal of reaching developing markets that may not have easy access to credit cards.
Travel & Hotels
Expedia and CheapAir will take your bitcoin for hotel reservations, flights and other amenities. Expedia uses Coinbase.
Satellite TV & Internet
Dish.com is the first satellite television provider to accept bitcoin since 2014. It uses Coinbase.
Buy New and Used Cars with Bitcoin!
Lamborghini Newport Beach in California dealership sells high end cars like Tesla and Lambo’s in bitcoin. Kansas is also a large market for bitcoin users; Overland Park Jeep dealership also accepts bitcoin.
There used to be a project online called CoinMotors.com that sold used cars, but the domain has since expired.
Lamborghini Newport Beach in California
BitcoinRestaurants.com offers 85 restaurants in the USA alone were bitcoin is allowed as a payment method.
PizzaForCoins.com is a popular app and website where you can order Domino’s, Pizza Hut and Papa John’s using bitcoin.
Need a Bitcoin Exhange? Here are the Ones you Need
Every bitcoin user requires a bitcoin wallet and exchange to turn the crypto currency into hard cash. These ones are the ones you need if you wish to conduct transactions with the merchants before mentioned.
Coinbase.com – It’s the largest bitcoin broker in the world available in over 30 countries as of 2017 and based in San Francisco. To buy bitcoin users can connect their bank account or use their credit card. The most important aspect of Coinbase is how trustworthy it is to a large community of both individual users and merchants. Liquidity is important when you want to exchange your bitcoin for USD and vice versa.
Supports USD, EUR, CAD, GBP and SGD. The company does not operate worldwide and is very restricted to western first world countries like USA, Canada, UK, most of Europe and Singapore.
Deposits are free, withdrawals cost 1.49% which is a very low fee compared to e-wallets like PayPal.
Note that Coinbase.com is very legal and is regulated by the US Federal Government. It does track user purchases and bitcoin use. It is also considered to be more of an exchange than a wallet, meaning you can’t store your bitcoins there, unless you hire the additional service of a wallet known as Multisignature Vault.
Bitpay.com – Bitpay is a bit different to Coinbase as it is not an exchange or wallet, although it kinda does offer those two services. It is a virtual currency processor, and most of its fame comes from being Shopify’s partner when merchants wish to use bitcoin payments on their accounts.
So basically it is a solution aimed towards online shops that want to use bitcoin as a payment solution. A merchant gets paid in bitcoin and Bitpay will serve as a payment platform, transfer the bitcoins to the merchant wallet (or manage a wallet inside Bitpay called Copay), or exchange those bitcoins to hard currency like USD and have it deposit on the bank account. Bitpay also began offering bitcoin VISA cards for its customers.
Bitpay is very safe and a regulated company based in Atlanta Georgia since 2011. Presently it is owned by Horizon Ventures, managed by China’s richest man.
One of the greatest advantages from using Bitpay by merchants is avoiding the cumbersome VISA/Master Card fees, hence becoming one of the cheapest online merchant payment processors.
Bitpay offers Copay as their wallet solution:
Questions & Answers
© 2017 David Trujillo Uribe