You Can't Earn a Significant Amount of Bitcoins Using Bitcoin Faucets

Let me start with the bottom line – You can't earn a significant amount of Bitcoins using Bitcoin faucets. Most of them are scams, and those that aren't take forever to generate a relevant amount of coins.

Let me start with the bottom line – You can’t earn a significant amount of Bitcoins using Bitcoin faucets. Most of them are scams, and those that aren’t take forever to generate a relevant amount of coins.

What are Bitcoin Faucets ?

Bitcoin faucets are website that give you free Bitcoins. The original Bitcoin faucet was operated by Gavin Anderson, Bitcoin Foundation’s chief scientist. It started out around late 2010 and it gave visitors 5 Bitcoins (yes….5 whole Bitcoins) for free. Of course back at the time Bitcoin was worth something like $0.08. Here is how the website looked back then.

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Are there reliable Bitcoin faucets out there today ?

I went and checked out almost 10 different Bitcoin faucets (for a list of over 70 known faucets take a look at the end of this post). Of course I used an alias email account since I didn’t want to get bombarded with SPAM.

First up – FreeBitco.in – the most popular Bitcoin faucet today

The first faucet I’ve tested was FreeBitco.in. This seems to be the most popular Bitcoin faucet today with an Alexa ranking of 1,765 which is truly impressive. The website requires you to sign up with an email address. After you sign up you are led to a lottery page where you can win a certain amount of coins once an hour. But the amount of coins is so small (I won 0.00000352BTC) that you won’t even be able to transfer it to your wallet (the Bitcoin fee for such an amount is 0.0001BTC).

If this was your average payout it would take you 28 hours just to break even.

My guess is that this website is making a lot of money out of advertising since