28
Apr

What Is a Bitcoin Faucet?

A Bitcoin faucet is the closest thing you’ll find to free BTC (it’s not like you can get lucky and find a 20BTC bill laying on the ground). If your goal is to get rich off of your Bitcoin investments, faucets probably won’t be sufficient for you. But if you just want to goof off online a bit and make a few hundred Satoshi in the process, then Bitcoin faucets are right up your alley.

What Is a Bitcoin Faucet

How do Bitcoin faucets work?

Faucets are websites that offer small monetary incentives to visitors in the form of Bitcoin. No two faucets are exactly alike, but in general they work in one of three ways:
•-Paying a fixed prize out at fixed intervals as long as you are online to collect them. Some Bitcoin faucets that work this way pay out once every few hours, while others pay out every 30 minutes or less.
•-Paying a small Bitcoin reward for performing simple tasks on the website (e.g. watching a video, clicking a link, etc.).
•-Paying variable prizes for playing a game on the site. The game could be anything, from a simply lottery or wheel spin to a complex role playing game.

Payouts are generally a few hundred to a few thousand Satoshi, which is the penny equivalent for BTC currency and is equal to 0.00000001 BTC. As a general rule, faucets that pay out more frequently will have smaller rewards and vice versa, although exceptions do exist.

How do you get Bitcoins from a faucet?
Once you’ve done whatever you need to do to earn your Bitcoin reward on a particular faucet, you can have them sent to your Bitcoin wallet. Every faucet has different rules about how often you are allowed to make this transfer; some don’t have any limits, while others will only let you transfer to your wallet once every 30 days. When it’s time to transfer, all you have to do is go into your Bitcoin wallet and click on “Get Bitcoins”, and then give the code you see to the faucet so the transfer can be made. The code is secure and can only be used once, and can’t be used to gain access to your account.