Before everything, let explain a fact that really matters – You can’t earn a lot of Bitcoins using Bitcoin faucets. A large part of them are scams, and those that aren’t, pay minimal amounts of coins that you take forever to be able to withdraw.
What are Bitcoin or Ethereum Faucets?
Bitcoin faucets are sites that give you free Bitcoins. The first Bitcoin faucet was created by Gavin Andersen, one of the core developers of the Bitcoin Foundation. It began his faucet late in 2010 and gave away 5 bitcoins. At the time they were worth about $0.08.
This is how looked the first bitcoin faucet.
Is There any Bitcoin or Ethereum Faucets that pay?
The most famous faucet is – FreeBitco.in
freebitco.in is the biggest faucet who uses Bitcoin with an impressive Alexa rank of 1,355
To register you need an email address and a bitcoin wallet to be able to withdraw your coins.
Once you get registered you need to click the roll button on the home page and a number of satoshis will be added to your balance. You can do this every hour. Actually, I just won 93 satoshis. There is also a sort of dice game called Multiply BTC to earn more coins. There is also a Lottery where you can earn up to half Bitcoin. The more you play the Multiple BTC game more lottery, more lottery ticket you win. You can also buy lottery tickets with your balance. There is also a referral program where you get up to 50% commission referring people.
They make money on advertising. Since they are very popular they can continue to pay their user. However, most of them will not be able to withdraw because of the minimum amount allowed to withdraw is 0.0003BTC.
The schema is very simple. They give you a small amount of BTC and make you come back later to get another small amount that probably you will not be able to withdraw.
How do Faucets make money with this system?
Other Faucets to Earn Free Bitcoin or Free Ethereum.
Some of the sites below I didn’t test by my self but I made some research about them.
Mellow ads faucet– Allows you to earn bitcoins clicking a claim button while showing ads on the page. You can not withdraw the coins you win, You can use them to buy advertising in their ad network.
CoinAd – Gives you free Bitcoin by viewing ads. (not running anymore)
QoinPro – (QoinPro gives you small amounts of Free Ethereum, Bitcoins, Litecoins, Dogecoins, and other cryptos. You need to install a mobile app to receive the free coins. Obviously, it won’t make you rich – If you are lucky enough you will earn 20 cents in a year.) Faucet seems to have closed
Moonbit.co.in – Gives small amounts of Free Bitcoin filling captcha. They have a wallet where coins are deposited instantly called coinpot. This wallet supports the following coins: COINPOT TOKENS, BITCOIN, BITCOIN CASH, DOGECOIN, LITECOIN, DASH.
Ethereum-Faucet.org – Gives small amounts of free Ethereum claiming every 240 minutes. They have also a lottery and a referral system.
Ethereumfaucet.info – Has a lot of ads but you do need to register, just add your Ethereum address, solve the captcha and claim your free ETH.
There also many other faucets that offer to:
Play games to earn free bitcoins
Watch videos to earn free bitcoins
Complete surveys to earn free coins
Another way to get free coins is when there is a Bitcoin fork or other coins have a fork. When this happens the network slits in 2 chains and you hold the original coin you get also the new one.
Some faucets to avoid
There are sites that pay in bitcoin to surf pages that ask you to install a program in your browser.
Better to stay away from sites that ask you to install thing that might be viruses or malware. They may steal your private keys. And it is not worth for the fractions of cents that you can eventually earn.
Since you are here, that means you are interested in Bitcoin faucets. Bitcoin or Ethereum faucets or whatever coin faucets are a good way to introduce new people to cryptocurrency. It is exciting to receive your first coin. And it is a good way to get familiar with cryptocurrency without having to spend any money. Mostly Bitcoin faucets are safe to use and your private keys are not exposed so you have nothing to lose. However, there is not such a thing like “free lunch”. To earn Bitcoin you need to give something in exchange like knowledge or time. Find here a full guide about How to Make Money With Bitcoin.