The Rise of Bitcoin: Bitcoin Faucets

Currently, bitcoin is very difficult to mine for individual users, so how would you go about obtaining some for yourself?

This is part 2 in a series of 2 posts on this topic. Part 1, which explains the concept of bitcoin, is here.

Besides purchasing bitcoin, you can also obtain some from bitcoin faucets. These are websites that hand out free, very small amounts of bitcoin in order to attract users to use other services on their sites. All you have to do is create an account on the site, and click a button after a certain amount of time has passed in order to get the bitcoin.

One website I recommend is FreeBitcoin. It’s relatively reputable compared to other faucets (ranked on Alexa), users have been able to successfully cash out, and you get free BTC every hour. When you click “Roll” on the site, it generates a random number from 1 to 10,000, which determines how much bitcoin you get. You also earn lottery tickets and reward points, which give you bitcoin bonuses on each roll. Another function they have on the site is a simple betting game, which allows you to bet on whether your next roll is a high or low number. One last function they have is a bitcoin deposit service. Similar to a bank, if you deposit at least 0.0003 BTC, they will pay an annual interest rate of over 4%. Interest is paid out every day, and you can withdraw at anytime.

One concern you may have is, how do faucets have enough bitcoins to hand out for free? How do they make a profit? For FreeBitcoin, besides the fact that they have their own mining operations, they also profit from the bitcoin deposits and the betting game.

If you are interested in trying out FreeBitcoin, use my referral link below to create an account. I do get some commission, but I am sharing 25% of my weekly commission with you so you get some BTC back. The more you roll, the more commission you get back every week!

Once you earn enough bitcoin to withdraw from the site (minimum 30,000 satoshi or 0.0003 BTC), all you have to do is enter your wallet’s withdrawal address into the website, and you should be able to withdraw with a small transaction fee. But first, you need to make an account on a wallet site, so that the money can be deposited into your bank account. The most reputable, commonly used wallets include BlockChain and Coinbase.

Good luck in obtaining bitcoin, and may the odds be in your favor!

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