In recent months, we’ve seen how cryptocurrencies like Bitcoin see a sudden resurgence in popularity.
Since the 3rd quarter of 2020, the demand for cryptocurrencies has been steadily driven up. Most of it is due in part to increase consumer confidence, rising rates of acceptance, and the entry of major institutional investors.
Technopreneur and visionary Elon Musk himself has also added to the excitement by announcing that Tesla would be accepting payments in Bitcoin.
As a result, the price of Bitcoin and other cryptos has consistently broken new records. Naturally smaller scale investors too have been looking to get in on the crypto game.
In the early days, it was quite possible to mine your own Bitcoins on a small scale. Cottage industry miners did not have to rely on the monstrous equipment seen nowadays. Nowadays however, mining for Bitcoins is a pipedream for anyone without massive capital and access to cheap electricity.
This is why Bitcoin faucets have occupied something of their own niche in the crypto sector. Bitcoin faucets are basically websites or apps that pay out a small amount of Bitcoin to users for completing simple tasks.
These tasks can range from watching ads to completing surveys. The amount of crypto rewarded for completing such a task is minuscule hence the name. However, they are a cheap and easy way to get your hands on some of that sweet, sweet crypto.
Of course, there is no such thing as a free lunch in this world and using a Bitcoin faucet does come with a variety of stipulations.
The small quantities of Bitcoin paid out each time are known as Satoshis; after Satoshi Nakamoto, the founder of Bitcoin. One Bitcoin is the equivalent of 100 million Satoshis. So you’ll probably have some ways to go before you get an actual Bitcoin.
However when farmed in large quantities over a variety of faucets, it is quite possible for you to cultivate a passive income stream.
Before you start clicking on the first Bitcoin faucet that you see, there are several things that you should take into consideration.
- The small quantities mean that your funds will likely be deposited into a micro wallet that requires you to have a minimum quantity of Satoshis on hand before making a withdrawal.
- Cryptos are unregulated and decentralized – so there are plenty of scammers and fake sites around. Be extra careful.
- Bitcoin faucets aren’t the most reliable way to get crypto. They were developed to get people interested in them.
But, if you’re looking to learn more about cryptocurrencies, here are the 5 highest paying Bitcoin faucets on the internet.
Founded in 2014, Bitcoin Aliens lets you earn cryptos such as Bitcoin, Bitcoin Cash, and Litecoin. Even better, you can earn all these by simply playing games on your phone.
Bitcoin Aliens is affiliated with Coinbase, so if you have a Coinbase account, the cryptos of your choice will be deposited right into your account.
Bonus Bitcoin is actually a combination of other Bitcoin faucets. Registration is entirely free and there are no charges for withdrawals.
The site pays out Satoshis at a rate of more than 300 Satoshis/minute. One of the benefits of Bonus Bitcoin is that you can move quickly from faucet to faucet with minimal fees.
Bitcoinker let’s you earn your Satoshis by simply watching ads and solving captchas. Thus letting you slowly gather your coins while you’re doing something else.
Alternatively, you can earn an income by referring the site to others. Bitcoinker rewards users with a bonus for using it on the long-term.
Finally, we have Cointiply. As of the time of writing, the site claims to have paid out a total of $1.2 million in free Bitcoins.
You earn Satoshis by playing games, watching videos, installing apps, and visiting web pages amongst others. Also, there is an element of chance to this site. Visitors stand the chance to earn 100,000 Satoshis with every faucet spin.
So there you have it. Four of the highest paying Bitcoin faucets on the internet. If you want to learn more about what is the highest paying Bitcoin faucet check out this article from Tezro.
Just remember that while Bitcoin faucets are a fun way to earn crypto passively, they won’t make you a millionaire.