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November 14, 2018

How to Earn Free Cryptocurrency Online Using Bitcoin Faucets

open a free account and get a bitcoin wallet

If you are new to cryptocurrency and want to get started investing in cryptocurrency but you don’t have the money there is a way to get started. You will need to be an active member of internet communities such as forums and social media platforms and obviously have access to the internet. The way to start earning free cryptocurrency is by joining cryptocurrency faucet sites. Cryptocurrency faucets are a reward system for completing simple tasks described by the faucet website, for example, completing captchas, completing surveys, downloading apps, visiting sites, watching videos, clicking on ads, rolling a random number on a page full of ads or rewards for playing online bitcoin games. It works in the same way as sites that pay you cash for completing surveys, only this time you get paid in Satoshi’s (the smallest fraction of a bitcoin, 0.00000001 BTC).

Advantages of Faucets

They will not make you rich as the amount of coins you earn are small fractions, but they are a good way to learn about cryptocurrency and to earn cryptocurrency without paying for it. You learn about cryptocurrency because you will need to know what a Satoshi is, you will need to create a bitcoin wallet with a wallet provider and you will need to learn how to send cryptocurrency from your wallet to an exchange where you will be able to convert the coins you have earned into cash by selling on an exchange. The alternative is storing (HODLing) all the coins you earn from faucets and waiting for the price of the coins to rise. What is worth a few bucks today will be worth more in the future if cryptocurrency becomes a globally accepted form of payment etc.

Example Faucet Sites

Coinfaucet.io – Pays out XRP for playing online games, you can withdraw once you reach 1 XRP, they have a referral program that pays you 50% commission for whatever your referrals earn and run a weekly lottery that gives away free coins to its members. They have other faucet sites that give away free NEM, Cardano (ADA) and bitcoin. If you follow their twitter they share links to other sites giving away free coins @cryptosfaucets.

FreeBitco.in – One of the most popular faucets that have a weekly lottery, they have a referral program that pays out 50% commission, You earn interest on your bitcoin if you keep it in their bitcoin savings account, you can multiply your bitcoin by playing HI-LO and participate in their HI-LO Jackpots.

Bitgames.io – This site pays you in satoshi’s to complete tasks like completing surveys, watching videos, visiting sites, downloading apps etc. They also have a wide range o online games you can play.

Creating a Free Bitcoin or Ripple Wallet

You can create a free bitcoin or ripple wallet on Coindirect.com. All you need to do is:

  1. Sign up
  2. Log in to your newly created Coindirect account
  3. Go to your bitcoin wallet and click receive. (If you want to deposit XRP you will need to add a Ripple Wallet by clicking add wallet, then choose Ripple Wallet)
  4. Click “I understand when a popup warning you to only deposit bitcoin to this wallet address appears
  5. Your wallet address will then appear as well as a QR code to scan using your phone

 

The Best Way to Make Money from Faucets

As mentioned earlier on most faucets pay in Satoshi’s so it will take a while before you make a substantial amount which you can withdraw and sell for cash. The best way to earn as much as possible is by referring as many people as possible using faucets with referral programs. To be successful as referrals you would need to be active in popular forums especially cryptocurrency forums, have many social media followers on crypto specific profiles or have a cryptocurrency blog where you could promote your affiliate link. You could still earn Satoshi’s by just participating yourself and if you are lucky, you could win one of the lotteries run by faucet sites but the easiest and fastest way is referrals.

 

How to Convert Crypto to Money

By this point, you now have enough coins to withdraw and you have set up a bitcoin wallet on a wallet site or exchange like Coindirect.com. You can use the exchange to convert your coins into another altcoin or you could sell the coins for cash and receive money into your PayPal account or bank account. The Coindirect P2P marketplace allows you to sell your coins for cash using the most convenient payment method, be it, PayPal, bank transfers, M-Pesa.

N.B.: Always read reviews of faucet sites online to find out other peoples experiences with those sites. A good place to start would be to google “[insert facet name] review” and see if anyone has posted anything about it on bitcoin talk or any other popular forum. Also check if they have any social media accounts and check out how they engage with their followers.

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