A question that is asked by everybody is “Where can I get free bitcoins from?” The answer is free bitcoin faucet. It obviously won’t make you rich overnight, but it’ still free!
As the name suggests, Bitcoin faucets are like taps with dripping bitcoins, instead of water. Just like a drop of water takes time to accumulate before dripping from the faucet, users have to wait a certain time limit before they could collect their coins.
What are Bitcoin faucets?
Bitcoin faucets are reward systems that are programmed to distribute small fractions of bitcoins for visitors to claim. There is a time interval that a visitor must wait between every batch of bitcoins released.
Purpose of Bitcoin faucets
- To introduce users to bitcoin: Faucets are a great way to introduce new people to the bitcoin network. Most faucets provide information to users and giving them a practical experience on how they can earn bitcoins is a beneficial way to promote digital currency and attract new users.
- To achieve maximum traffic: It is not that difficult to get traffic on websites that give out free money, faucets are usually high traffic websites.
- To make money: Adding additional content to the website, or including some unique attraction for users is the only way to generate an income for a Bitcoin faucet. There are many of these sites around nowadays so it’s a very competitive market.
Why Bitcoin Faucets?
There are rewards placed to attract visitors to the faucet’s webpage. These sites usually contain advertisements and advertisers pay these faucet owners to display their ads on the websites. Advertising costs are calculated on Cost per Thousand Impression (CPM) basis. Which means if the site gets more visitors and they spend a long time on the site, then the owner gets more money from the ads.
Faucets also play an important role in the bitcoin ecosystem. It encourages more people to understand and adopt bitcoin.
How to use bitcoin faucets?
Once you’re on the faucet webpage, you just need to enter your wallet address or the email address linked with your Xapo wallet.
A timer will start to measure the time you spend on the site. Each ad is viewable after a certain period of time. The interval is usually of 30 minutes.
In order to claim your reward, you’d have to solve a mathematical question or prove that you’re a human by filling in a Captcha, and that’s it!
Typically, faucets have a minimum time interval between claims by each visitor in order to prevent one from claiming all the available bitcoins from faucet’s wallet.
This duration varies from 5 minutes to 24 hours, depending upon the faucet.
Here are a few best Bitcoin faucets for you to explore from:
- Moon Bitcoin
- Bitcoin Aliens
You can visit and explore these sites. It might be worth your while to study and recognize the techniques they use in order to make money from their faucets.
You will find hundreds of bitcoin faucets to choose from, go ahead, explore and earn a few satoshis while you’re at it. (1 Satoshi = 0.00000001 BTC)
The value of the cryptocurrencies is fluctuating every moment. That is why investors still consider these cryptocurrencies are very new with supreme returns.
Ethereum’s value was all-time high over $400 in June but fell lower $200 for the first time since May 30. Furthermore, Bitcoin’s price correction wiped off closely $4billion in its market price.
Bobby Lee, CEO of the Bitcoin exchange told CNBC that the true value has yet to be discovered. He states in a Hong Kong conference, “If you think about it, the volatility is natural for an asset class that is so new. There’s no price discovery for it (yet).”
He explains that people need to discover the true value of the digital currency bitcoin. They have a tendency to trade these assets at a firm, promotional level before market analysis it could be worth more and this a time when the price jumps.
After getting legalized in several countries, the currencies have seen a significant rise in the popularity. Such as Japan legalized the bitcoins as a payment method.
Managing director of Hong Kong-based commodities and digital currency trading house Dave Chapman says, “We now sort of at … a tipping point, where people are now considering bitcoin or ethereum or digital assets as more mainstream.” And,” A lot of the people that we service are actually very comfortable with having 1 percent of their net worth into bitcoin as it is considered to be the best way to invest in bitcoin.”
He also adds, “There’s no other asset class in the world that could’ve given you the historic performance of this sector … the historic performance, which is obviously not representative of future earnings, … does appeal to a lot of people.”
For situation: $100 of Bitcoin credited in 2010 is now worth more than $75 million.
The analyst has made mixed estimations about these digital asset’s values and market cap as well. According to the BTCC’s Lee experience, the market cap for the Bitcoin will hit at least $trillion by 2025. He says, “I think it’s going to go to at least $1 trillion, if not maybe $10 trillion in the next five to ten years.”
Bitcoin’s current market cap is about $38.55 billion on supply and around 16 million in circulation. Whereas, the total supply of the bitcoin is 21 million. According to Lee, “In a grand of scheme of things, it’s nothing. Many, many companies are worth way more than that.” Furthermore, tech companies already have their market cap in billions or trillions of dollars.
Regulations may help to increase the credibility of these digital assets. Accordingly, Japan, Russia, and China are introducing new regulations.
In the end, Chapman also added that a number of investors have a fear of loss. That’s why they are still not ready for bitcoin investment in the digital currency market.
“We get a lot of people who are like ‘You know what? I still don’t believe in this experiment. I’m not really a believer, but I’m tired of sitting on the sidelines and missing out.”
Bitcoin is a peer to peer, decentralized, the digital currency which is designed for users to make online transaction anonymously. In simpler words, it’s a virtual currency which was created by a group of unknown programmers in 2009.
During this short period of time, bitcoin has accumulated worldwide recognition as well as contention as an alternative to USD and Euros.
Journey Towards Popularity:
Bitcoin first came into circulation in 2009. The currency didn’t gain much attention in world business during the first couple of years. The first it gained recognition was the year 2011-12 when it grew over 300%. The next year also proved to be quite fruitful as the currency saw more than 400% growth in its value.
Due to its incredible rise, the investors and venture capital around the world invested $57 million in the first quarter, followed by an investment of $73 million in second quarter.
A Guideline to Invest in Bitcoins:
The easiest way to get bitcoins is to shop for bitcoins. There are numerous established firms in the US and around the globe that are involved in trading bitcoins. These firms are abbreviated as BTC.
Coinbase and BitStamp are two of the top players of the game.
Coinbase is the “go-to” place to trade coins if you live in the US. The Coinbase provides its clients with bitcoins at an estimated markup of 1% over the existing market price. It also gives you the option to sync your bitcoin wallets and bank accounts; which ultimately reduces the trouble factor in your future payment transfers.
Another unique option that Coinbase offers to its users is “auto-buy”. For example, if a user buys $100 in bitcoins at the start of each month, the company will him an option to set up an “auto-buy” for that amount.
Here you can learn more about how to buy bitcoin through Coinbase.
Bitstamp acts as an intermediary between users. This means that users can trade with each other but not the company itself. At BitStamp, the liquidity is higher and there is always a good chance to find a trading partner.
Local Bitcoins – An Alternative Way to Purchase Bitcoins:
If you are having troubles exchanging bitcoins online, Local Bitcoins is a good option to buy them offline. However, offline buying is not always considered to be safe. To be on the safe side at the time of a transaction, it is often suggested to have a meet up with the seller at a public place and let a friend/family member tag along for protection in case things turn ugly.
The Final Word:
There are numerous ways to take a dive into Bitcoin investment. Coinsbase, BitStamp, and Local Bitcoins are few to name. The most important thing to remember here is to do your homework and take your time before entering the sphere of bitcoin investment and you will be fine.
Find out what our experts have to stay about how to make a Bitcoin investment.