5 Tips for getting the most from Bitcoin Faucets
If you want to accumulate crypto but no risk your own capital, just your time, bitcoin faucets are a great place to start. Follow these five tips get the most out of bitcoin faucets.
Bitcoin faucets are digital taps that reward you with fractional sums of BTC and other cryptocurrencies for completing tasks. Faucets offer free money, but there are strings attached, so if you are new to the concept you might want to read our ultimate guide to bitcoin faucets first.
The rewards are small, admittedly, but with perseverance and a sound tap-turning strategy, it’s possible to work your way around the web, slowly turning a little into a lot. The aim of the game, as far as you’re concerned, is to extract as many coins (or fractions of a coin) as possible.
In this article you’ll learn some tips for maximising your time, and with it your bitcoin faucet earnings. You’ll also learn what not to do if you want to avoid getting banned or having your assets frozen.
Along the way we’ll also consider a few myths about bitcoin faucets that just won’t die. If we can double tap these misnomers, and lay them to rest once and for all time, this guide will not have been in vain. Let’s go.
Tip 1: Calculate Your Work-Reward Ratio
You don’t need to be an algebra whizz to calculate the most profitable faucets to use. Essentially it comes down to this: what’s the most satoshis (fractions of a bitcoin) you can earn for doing the least work?
‘Work’ in this context could mean watching adverts, completing captchas, or filling in surveys. If a faucet promises 5,000 satoshis but the task takes 20 minutes to complete, you’d be better off picking a faucet that offers 3,000 sats but only commands five minutes of your time.
Tip 2: Find Your Favourites and Then Forget Them
Humans are creatures of habit. We brush our teeth in the same way each day, open the same tabs in our web browser when we log on, and frequent the same faucets. If you’re new to bitcoin faucets, you should naturally seek out the best and most reliable options you can. But once you’ve done that, don’t get comfortable. Cycling between the same faucets day after day is a recipe for boredom. What’s more, it’s a recipe for being rate limited since most bitcoin faucets meter the amount of rewards each user account or IP address can extract within a certain timeframe.
Every couple of weeks, embark on a search for alternative faucets. Odds are there’ll be new ones that have sprung up, while others you may have discounted previously might have upped their rewards or lowered the barriers to participation. Find faucets you can favourite by all means, but don’t get too attached to them.
Tip 3: Monitor the Crypto Market
Bitcoin may have been the first crypto faucet, but it certainly wasn’t the last. There are now faucets for most major altcoins, from Litecoin to Zcoin. Platforms like bestfaucetssites.com list dozens of them. If you’ve even a passing knowledge of cryptocurrencies, you’ll know that they can be pretty volatile. This means that on any given week, some can be in the green, with double-percentage point gains, while others may be in the red.
Consult a crypto market tracker site once a week to see if any coins have made major gains. It’s not unheard of for altcoins to increase in value by 50% or even 100% in a week. Pick a faucet for that cryptocurrency and you’ve essentially doubled your earnings. Note that some faucets correlate their rewards with the asset’s USD price, so it’s not always possible to game the system.
Tip 4: Refer a Friend – and Their Friend Too
Faucets don’t exist merely to furnish you with free coins: they also have to generate a profit for their operators, which is generally achieved by advertising or directing visitors to monetized landing pages. It is therefore in their interests to attract as many faucet users as possible – which in turn means it’s in yours. Seek out bitcoin faucets that enable referral links and you can earn a commission from every friend and contact who signs up via your link.
Services such as free.Bitcoin.com, for example, will dispense free Bitcoin Cash (BCH) for completing verification, but also pay referral rewards for every user you convince to sign up. Naturally, you need to get creative when it comes to sharing ref links: don’t spam or shill. Instead, think up compelling reasons why people may want to use a faucet (Earn from home? Acquire crypto without KYC? Get paid to play games?) and appeal to them on this basis. Give them a reason to turn on that tap and watch your commission roll in.
Tip 5: Take a Shortcut
In our extended guide to bitcoin faucets we touched upon bots that can be used to automate much of the grunt work, theoretically enabling you to generate passive income. The biggest problem with auto-faucet tools is that they’re prone to being detected and could see you get banned, as well as having any satoshis you’ve earned confiscated. If you’re enterprising, however, and fancy a challenge, there’s nothing to stop you creating your own automated system that will save time and accelerate your earnings.
Did you know that an Excel spreadsheet can be programmed to create macros that perform tasks such as visiting a webpage and entering data into a form field? Sites such as automatetheweb.net will guide you through the basics. It’s not as complex as it may sound, and even if the learning experience doesn’t make you rich in faucet coins, it’ll furnish you with a skill that will save you vast amounts of time in your daily digital life.
Exploding Myths of Bitcoin Faucets
Here are a few faucet myths that should be dispelled once and for all.
No, the IRS aren’t watching faucets for unreported earnings. The sums you earn from faucets are too low for any tax agency to be interested.
No, you won’t get rich from playing faucets. However, if you hold onto your coins for a few years, there’s an outside chance you could make a modest sum.
No, you cannot “double your bitcoin” by sending it to a particular website. Any sites making such claims are scams and should not be associated with the many legitimate faucets out there.
Yes, you do have to wade through a lot of trashy sites to find reputable information on bitcoin faucets. Thankfully you’ve come to the right place.
Happy hunting and may all your faucets rain coins.
Grow Your Stack at Cloudbet
The Cloudbet blog is focused on sharing ways to grow your stack. Bitcoin faucets are a real opportunity to accumulate crypto, albeit requiring your time and attention in return. Once you get a foot on the first rung, you can really boost your portfolio by moving from accumulation to speculation, and depositing your coins at Cloudbet. You an even use a credit or debit card to get started: