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Everyone in the world is looking into different ways of how they could earn some extra money. I mean who would say no to that?
And also what if you could combine that with one of your biggest interest? Then that would be a perfect combination for most us. I know I would be interested in that. So what am I talking about? Namely Bitcoin faucets.
A way for you to engage in fun ways to earn some extra BTC. These faucets works a bit differently depending on the site that runs them. But most of them are super easy to use and a fun way of earning extra BTC for free!
So I though I’d spend some time to share my list of the best Bitcoin faucets to use in 2020!
What are Bitcoin faucets?
It is impossible for a person who has even a little bit of know-how about cryptocurrencies or cryptocurrency, in general, to not be familiar with the term Bitcoin.
It is the most popular digital currency around the world and even those not associated with cryptocurrencies, blockchain, or tech will probably have heard about Bitcoin at some point.
Bitcoin has come a long way from the initial launch back in 2009 to now being one of most touted alternative investments in 2020.
This is where faucets swoop in.
A faucet is a website that offers a free method of accumulating Bitcoins.
These methods are different tasks that the user must complete on those websites. Just like a regular faucet drips some water if its knob is a little bit loose, in a similar way a Bitcoin faucet drips small amounts of bitcoins over a set period.
All Bitcoin faucets vary in the number of bitcoins they drip, and each has its own intervals of distribution, however, usually, they range from hundreds to thousands of satoshis. One satoshi is equal to a hundred-millionth of a Bitcoin.
Currently, 0.00000100 BTC is worth $0.0091. It is not a huge amount, but if we keep visiting the faucet frequently, we will eventually have a good amount of Bitcoins to play with.
We will get into this in a while that why these faucets give away bitcoins for free.
How do Bitcoin faucets work?
There are a few different common models in the Bitcoin faucet world. And I will explain the most popular ones and how they work here below.
The more traffic the website attracts, the more money they make. An even better scenario is if the visitors spend some time on the website and click on some ads.
A good example of such faucets is the Moon faucet.
The revenue that they get from advertisements is much more than the we receive in the form of satoshis. In the earlier days of Bitcoin, faucets used to give away as many as 5 bitcoins.
In order to increase the number of visitors on their websites, many faucets have referral programs in place where bitcoins are earned for referrals.
These bitcoins can then be used to get extra rewards.
Many of these webpages are designed in such a way so that it is hard to tell where a user is supposed to click to make a claim.
Many faucet websites also offer gambling and lottery games which can be played using the cryptocurrency which they just claimed. By doing this, the majority of the times the user is returning a small amount of the crypto back to the website.
An example is freebitcoin.
Some bitcoin faucets that along with the above mechanism also use a user’s CPU for the purpose of mining.
The amount of electricity that is consumed by the computer during mining is way more than the number of bitcoins received by the faucet.
The 15 Best Bitcoin faucets in 2020
We will now discuss some of the best Bitcoin faucets to look for in 2020.
1 ) Cointiply
Cointiply is currently amongst the leading bitcoin faucets, due to its huge payouts and a good array of tasks one can carry out to earn satoshis.
The faucet has paid its members over $450,000 since its formation. But what we believe sets it aside from most of its competitors is its highly innate dashboard and friendly user interface.
To get started we need to sign up and then login. A 1% bonus is given for each day a claim is made. The site’s faucet allows you to claim an average of 200 Satoshis per hour.
Once a minimum of 35,000 satoshis is accumulated, we can withdraw our earnings to our cryptocurrency wallet.
Other than the facet, users can earn Bitcoins by more than 20 ways; playing browser games, get paid by clicking ads, watching videos and doing surveys etc.
The site also contains a coin multiplier for those who further want to test their luck. Once we have more than 100,000 satoshis, they can be directly transferred to our Bitcoin wallet.
2 ) Bitcoin Aliens
Bitcoin Aliens has one of the very best paying averages within the industry, averaging a payout of roughly 9,000 satoshis every five minutes.
Currently, approximately 2.5 million users are registered on the website. It also claims to have given away 1090 Bitcoins after its launch in 2014.
Bitcoin Aliens also provides ease of access as we can simply download 5 different faucet apps that it provides on our smartphone, play them on the go and earn bitcoins and other cryptocurrencies in the process.
3 ) BonusBitcoin
BonusBitcoin is one of the oldest faucet websites on this list. It asserts of currently being the highest paying faucet i.e. a possible claim of 5000 satoshis every 15 minutes by a user.
On top of that a 5% bonus is added each day to the user’s account, provided that they have made at least one faucet claim in the previous day.
A withdrawal without any fee charges can be made anytime if the current balance is minimum10,000 satoshis. It also consists of a coin multiplier and offer/surveys section to increase earnings.
4 ) Moon Bitcoin
Moon Bitcoin has a unique selling point – the user gets to decide how often or how little they claim.
However only two limitations are applied. Firstly, there should be a minimum 5 minutes interval between two claims per account or per IP address. Secondly, the user needs a CoinPot bitcoin wallet to claim their rewards. The claimed amount can be increased by 500% by utilizing various schemes provided by the faucet.
5 ) FreeBitcoin
A relatively new faucet that lets people earn bitcoins drawing a number once every hour.
The same can also be done by playing games, betting and weekly lotteries. Presently, there are more than 37,800,300 registered users according to its website.
It allows to earn up to $200 every hour in bitcoins.
A bewildering amount of 200 bitcoins has been paid to users till now by this faucet. Once $1 amount of bitcoin has been reached it can be transferred directly to a user’s bitcoin wallet.
A sign up is required to start playing.
6 ) Blockchain Poker
Blockchain Poker as the name suggests, is a Texas Holdem single-table cash game without any limits. Sign up is not required thus anonymity can be preserved. New visitors are given free 100 satoshis to start playing.
The minimum withdrawal amount is however 100,000 satoshis, which is higher than many of its competitors.
Once a player drops to 50 satoshis, the faucet can refill the amount once every 3 minutes. Either of Bitcoin, Bitcoin Satoshi Vison or Bitcoin Cash can be used to play with.
7 ) Satoshi Quiz
This faucet is one of my favorites as it is more captivating for me than others. One’s random trivia knowledge can be put to good use in this faucet.
It is basically a timed game that resembles “Who wants to be a millionaire”. After signing up, the player is awarded satoshis if he gets the answer to a question right.
Three types of game modes are available – faucet, roulette and solo challenge. Bitcoin payments are processed once in every week with the minimum withdrawal limit being 1100 satoshis.
8 ) Free Faucet
Free faucet allows one to earn bitcoin or any of the 17 available altcoins after signing up. So it’s not only a service to earn free BTC but also a crypto faucet to earn altcoins from!
Bitcoins can be earned by performing a variety of tasks on the website such as completing surveys, signing up on websites, joining mailing lists, and more. People can also participate in Airdrops.
9 ) TimeForBitcoin
A bitcoin faucet where one can get free satoshis every 5 minutes by entering their bitcoin address and captcha.
It doesn’t have the fanciest of websites but it is another crypto faucet platform to add to your list.
Claiming free prizes using the same IP address but different accounts is not allowed. The claim rates increase gradually from 5 minutes up to 1 day. Minimum satoshis that can be withdrawn is 20,000.
10 ) Bitcoinker
One can earn bitcoins in Bitcoinker by interacting with advertisements and solving captcha. Like TimeForBitcoin, only a bitcoin wallet address is needed.
The bitcoins earned keep accumulating into the Bitcoinker user account and upon reaching 20,000 Satoshis, they are sent directly to the bitcoin wallet address.
The faucet claims to dispense up 100,000 satoshis every 5 minutes and a maximum of 120 claims can be made in 24 hours.
Bonuses are also given on payouts depending upon the frequency of user activity.
11 ) BitFun
Gamers can opt for this faucet as bitcoins can be earned in BitFun by playing a wide variety of fun games and watching ads in between.
A claim can be made every 3 minutes after a user signs up on the website. 10,000 satoshis is the minimum withdrawal limit.
Since it is owned by CoinPot and Moon Bitcoin, hence it is reliable.
12 ) GetYourBitcoin
13 ) PentaFaucet
A simple faucet like GetYourBitcoin and TimeForBitcoin where only the bitcoin wallet address is added and satoshis amount varying from 5 to 25 can be claimed every 5 minutes after solving traditional captcha.
14 ) DailyFreeBits
With Daily Free Bits we can claim our rewards every 1 hour and earn between 5 to1200 satoshis.
When a payout threshold of 100 satoshis is reached, Daily Free Bits makes an immediate transfer to our Bitcoin address through Faucethub.io. Only the bitcoin wallet address is needed to be entered. No sign up is required.
15 ) SatoshiLabs
By using this faucet, users can claim from 5 up to 15 free satoshis every 5 minutes.
Earnings can either be accumulated in FaucetHub or directly to the address of your bitcoin wallet after you sign up and reach the payout threshold of 5,000 satoshis.
Users are required to register on the website. Credits can be earned by performing simple tasks.
Faucets serve an important role in the bitcoin ecosystem as they enable a newbie to get a taste of the cryptocurrency without spending any of their own money and without having any technical knowledge of it in the start.
Once they possess enough know-how, they can make serious decisions such as investments.
It is always recommended to move your funds eventually to a much securer and flexible wallet where multiple currencies can be deposited.
One must also not forget that we don’t have to restrict ourselves to just one faucet. In fact, multiple faucets can be opened in different tabs while you are waiting for that average 5-minute interval to be over.
If you want your earnings to be withdrawn instead of the amount withdrawn, you can opt for faucets that have minimum withdrawal limits like DailyFreeBits, Satoshi Quiz, FreeBitcoin or Moon Bitcoin.
Those who don’t mind the high withdrawal limit can wait till they have a huge amount to withdraw from their faucets like Cointiply.
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Hello and welcome to Go Cryptowise.
My name is Per Englund and I’m a long-term fan and investor and trader of Bitcoin and other cryptocurrencies. I caught the attention of Bitcoin like many other several years ago, but it was first around 2016/2017 that I truly got into cryptocurrencies and blockchain technology.
I have since traded, bought, researched and learnt about this new emerging space to the fullest. When not producing crypto-content I create and design new products and businesses. And I want to combine my business experience with my passion to create meaningful content for all our readers.
And I am bringing this vision to my writing and how Go CryptoWise work.
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Get in touch with me to find out more about Go CryptoWise and what we care about.
Cardano Multi-Asset ‘Mary’ Update Launches to Mainnet
Late on Monday, March 1, Cardano announced the successful upgrade of the network stating that it is a key milestone in its ongoing rollout.
It added that the update introduces core Goguen features of native token functionality and multi-asset support. Goguen is a major upgrade stage on the Cardano roadmap which introduces smart contracts and the ability to build dApps.
— Input Output (@InputOutputHK) March 1, 2021
Multi-Asset Mary For Native Tokens
According to an IOHK blog post, native tokens will bring multi-asset support to Cardano, allowing users to create uniquely defined custom tokens and carry out transactions with them directly on the blockchain.
The ‘Mary’ upgrade enables the ledger’s accounting infrastructure to process not only ADA transactions but those that simultaneously carry several asset types. It added that native support grants distinct advantages for developers as there is no need to create smart contracts to handle custom token creation or transactions.
Developers and now create tokens on Cardano for everything from NFTs to tokenized stocks or commodities, and according to Token Tool, there are already over 1,400 of them. It appears that they are just being created for experimental purposes at the moment as most of them do not have a purpose.
The blog post explained that, unlike Ethereum’s ERC-20 standard, tracking and accounting of custom tokens on Cardano is supported by the ledger natively:
“Because native tokens do not require smart contracts to transfer their value, users will be able to send, receive, and burn their tokens without paying the transaction fees required for a smart contract or adding event-handling logic to track transactions.”
ADA Price Update
ADA has surged in price in the run-up to the upgrade, so much so that it has usurped Binance Coin and taken the third spot on the market cap charts according to CoinGecko.
At the time of press, ADA was still correcting with a 2.4% decline on the day to $1.22. Its all-time high came on Feb. 27 when the token topped $1.45 briefly. Over the past 30 days, Cardano has made a whopping 240% and since the same time last year when it was priced at a lowly $0.05, it has surged over 2,500%.
There are 32 billion tokens circulating out of a maximum supply of 45 billion giving the asset a market cap of $38.8 billion at current prices.
Miami Mayor dismisses Treasury Secretary Yellen’s criticism of Bitcoin
Over the past few weeks and months, Miami and Mayor Francis Suarez have been working towards positioning the city as the country’s premier crypto-hub. “We want to be one of the most crypto-forward and technological cities in the country,” Suarez had said in a recent interview, with the comments coming on the back of reports which claimed that Miami was considering putting 1% of its treasury reserves into Bitcoin.
In fact, a few weeks ago, the city official had also claimed that Miami was looking at crypto-regulations in the state of Wyoming and Wisconsin, among others, to take a step towards enabling crypto-payments.
Mayor Suarez is in the news again today after he responded to Treasury Secretary Janet Yellen’s comments on Bitcoin, the world’s largest cryptocurrency. Speaking to the media at the recent NYT DealBook Conference, Yellen claimed that Bitcoin is an “extremely inefficient way of conducting transactions.” Further, the Treasury Secretary also raised serious questions about Bitcoin’s use for illicit finance and its energy consumption.
Yellen’s remarks, however, didn’t come as a surprise to Miami’s Mayor.
“It doesn’t surprise me at all that a Treasury secretary would find a decentralized potential currency to be hostile to a currency that they control.”
According to Suarez,
“For people who invest in Bitcoin, the allure is precisely that: It’s not backed by a central government. So it’s not manipulatable by the central government.”
During the said interview, Suarez also shot down questions about the risk associated with the world’s largest cryptocurrency. When asked about investing in an asset class that has long been known for its volatility, the Mayor remarked that Bitcoin is an asset class that is still being studied, and not something Miami is jumping right into. “Bitcoin is worth studying and worth looking at,” he concluded.
While Mayor Suarez’s bullish comments on Bitcoin aren’t a surprise, it is worth highlighting that his latest comments were a direct response to statements made by the United States’ Treasury Secretary, a development that highlights the gulf that is appearing between local officials and the country’s biggest financial decision-makers.
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Nigeria’s Vice President makes a surprising case for Cryptocurrencies
A contradictory statement has recently been made by Nigeria’s Vice president Prof. Yemi Osinbajo, concerning the recently imposed Cryptocurrency ban by the country’s Central bank. The Vice President explained at the CBN bankers committee economic summit, that digital currencies are an inevitable part of the country’s economy.
Prof. Osibanjo makes a fair case for digital currencies
He reckoned that as opposed to banning Cryptocurrencies entirely, employing care and prudence could favor the technological developments that are byproducts of the emergence of digital currencies.
“We must act with knowledge and not with fear, we must ensure that we are in a position to benefit and in a position to prevent any of the adverse side effects or any of the criminal acts that may arise as a consequence of adopting or taking any of these options.” He explained.
Taking to Twitter to share the aforementioned keynote speech at the summit, he went on to emphasize the impending innovative shift that the country would make when digital currencies dominate the financial market.
As he puts it :
“Cryptocurrencies in the coming years will challenge traditional banking, including reserve banking, in ways that we cannot yet imagine, so we need to be prepared for that seismic shift.”
Nigerians respond to the government’s “theatrics”
The Crypto-community in Nigeria has responded to the Vice President’s speech in sarcastic unison, as they await a turnaround of events to carry out the job of clearing their doubts. Similar theories have sprung up, following the country’s Cryptocurrency ban, in which banks were prohibited from partnering with Cryptocurrency firms to process payments.
Many have suggested that the government’s decision to ban Cryptocurrency is birthed out of the fear of the decentralized nature of digital currencies, which were efficient for the ‘EndSars’ protesters to bypass bank restrictions and continue with their march against police brutality.
Nigerians cling to P2p trading to help combat government policies
It remains to be seen what the future holds for the country, whose younger citizens have helped to boost and profit from the booming industry of Cryptocurrency investment and trading, among other Crypto-related activities from their end.
In the meantime, for Cryptocurrency trading platforms like Buycoins, the show must go on. Users of the platform have since returned to their roots as the platform employs a third-party app to facilitate peer-to-peer trading.
Even though this could potentially affect the speed at which transaction is processed, Nigerians have reaffirmed that sticking to the available option is still less risky than storing their money in a traditional bank.
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