Bitcoins have created a worldwide buzz, and you can see them mentioned often in financial and business articles. The latest news surrounding Bitcoin is Bitcoin faucets. These are basically websites that pay you for doing some tasks or visiting them. Faucets are a good way for anyone to get into Bitcoin without buying through LocalBitcoins, wiring their money to a Bitcoin exchange, or mining.
Bitcoin faucets pay out their users in satoshis. It is the tiniest fraction of a bitcoin which is 0.00000001BTC. Therefore, one thousand satoshis would be the equivalent of 0.00001000BTC. For one to get satoshis from faucets, they need to have an accepted wallet from a service such as Blockchain.info or a standalone wallet from the client. The next step is finding out information on the available faucets. The best way to go about this would be going through some of the popular Bitcoin faucet reviews such as:
It is fairly new to the faucet market and takes a different approach. Every time you access the faucet, you will win some kind of tickets. These are then traded at the close of business depending on the value of advertising for that particular day. The strategy here is to wait for long since the more you wait the more satoshis (‘tickets’) you get. Timing is every five minutes and payouts are variable.
FreeBitco.in is among the most popular faucets for some people. Payouts range from 736 satoshis to 0.436 BTC. Keep in mind their payouts are tied to the Bitcoin price of the time meaning they will fluctuate with the Bitcoin price. At one point, their payouts were at 955 satoshis when the BTC price was at $419 making it the highest of any faucet. Users like the site because it has timely and regular payments, and it has been going stable for almost two years.
This is a faucet that pays out 100 satoshis to 1,000,000 satoshis (the equivalent of 1 Bitcoin). Even though the odds are not posted, the faucet is heavily weighted towards the bottom payout. People who have used it state that they have gained high payouts, with some saying they got upwards of 10,000 satoshis on several occasions. Crococoin’s timing is half an hour and requires an email to register.
Coin collecting is managed by the same individuals who own Golds Day. It is a bit different from other faucets in that it makes use of a scratch off metaphor that is currently paying between 111 and 999 satoshis. It is now paying 2X prizes and some users have won every prize available. Another difference you will note with the platform is that the less you play, the more you win for each visit. Coin collecting has a timing of ten minutes and pays out to ePay.
There are many faucets in the market and reviewing them all can be a daunting task. However, a rule of thumb is try those that have a positive review, timing of half an hour or less, a maximum of more than 900 satoshis in their payouts and are user-friendly.