With the popularity of Bitcoin’s and Bitcoin mining, it only makes sense that other outlets to get Bitcoins would present themselves to anyone attempting to add more value to their Bitcoin total. This article will take a look at Bitcoin faucets as a way to increase your Bitcoin total and earn free Bitcoin’s.
You can reference the remainder of this material to determine if Bitcoin faucets are a way for you to go and whether or not they are worth your time.
What is a Bitcoin faucet
The first thing that should be addressed is an explanation of what a Bitcoin faucet actually is. In the most basic of terms, a Bitcoin faucet allows people to visit a certain website, perform a simple task, and be rewarded with a Bitcoin, or a percentage of a Bitcoin (depending on the site).
The tasks that must be completed for a Bitcoin faucet are much easier than the mathematical equations required for Bitcoin mining, making it an option for those looking to obtain their own Bitcoin’s, without the same expectations or requirements of typical Bitcoin miner.
Pros of using a Bitcoin faucet
If you are new to Bitcoin mining, using a Bitcoin faucet is a great way to get yourself involved without getting too deep in the process. A Bitcoin faucet is a easy way of testing the waters with how Bitcoin works and how you can earn Bitcoins for your efforts. Bitcoin faucets do not require buying hardware all you need is internet access and a Bitcoin wallet and you are set.
Once you complete the assigned tasks you get free Bitcoin sent to your Bitcoin wallet. Although the coins you get are a small amount they are free and with time can add up.
TIP: Once you have enough coins I suggest heading over to a Bitcoin Exchange and try your Hand at cryptocurrency trading. You can easy start to see a good ROI if you catch the market at the right time.
Cons of using a Bitcoin faucet
As great as Bitcoin faucets are for people new to the industry, it certainly has its own shortcomings as well. Granted this is a process that is intended for beginners, but it should be understood that you certainly wont get the same payouts that you would if you were experienced with Bitcoin mining.
The payout is actually quite small in comparison to other methods. Furthermore, because of the small payouts, it can be quite time consuming to actually earn any Bitcoins. With many Bitcoin faucet sites, you will only be allowed to earn a payout once a day and will have to return regularly on a daily basis. Again, it’s not overly convenient, but more so just time consuming and a bit frustrating.
However if it is something you are just testing, then there isn’t much room to complain considering it’s a free way of getting Bitcoins.
Another downside is that it is often tedious to perform the tasks that are required in order to earn Bitcoins from the faucets. Sure, the tasks are straight forward and often much less work than the work that it takes to earn full Bitcoins with Bitcoin mining. But considering the minimal payout, you certainly would need to consider whether or not the effort was worth the payout.
Our Top Bitcoin faucets List
If you are considering looking more into Bitcoin faucets and seeing if the efforts are worth your time, here is a list of websites you can refer to, to begin making Bitcoins.
With the amount of links provided here, you can certainly find enough sites to visit on a daily basis to start earning Bitcoins from Bitcoin faucets. As mentioned above, faucets aren’t going to make you rich in Bitcoins, but it’ll certainly get you involved and help you decide if you’d like to keep up with the online currency.
Thanks for visiting Top Bitcoin Mining Hardware, if you liked this article please use our social buttons to give us the thumbs up. Also check out our Bitcoin Miner Comparison Table.