At the time of this writing, 1 Bitcoin was equivalent to 4,425 dollars. Some analysts believe that by the end of 2017, it will pass the $ 5,000 barrier. We won’t be talking about these discussions in this article, but we can guarantee you this: Bitcoin is one of the most suitable tools to invest. Although you need a solid capital to enter the BTC market, you can get BTC even without any initial capital if you know how to do it. Perhaps you can play at a Bitcoin Casino with your winnings and double up your capital, who knows? We will tell you how to do this, but first, we have to talk about “satoshi”. In order to win free BTC, you first need to accumulate the satoshi( “sat” for short).
You can think of satoshi as the “penny” of Bitcoin. A satoshi is the hundredth of a millionth of one BTC. At the moment, 22.622 satoshi is equal to 1 USD. Likewise, 100,000,000 satoshi corresponds to 1 BTC, that is, 4,425 dollars. It is important that you understand what satoshi is because the faucet sites distribute it for free.
What Are Faucet Sites?
Designed by Gavin Andresen in 2010, the faucet sites are places that give you free sat for the fulfillment of a certain task. These tasks are variable, sometimes you are asked to decipher a captcha, and sometimes you only need to spend a certain amount of time on the website. They say they intend to introduce people to BTC, but the main purpose is to drive traffic. Who would not want to visit a website where you can earn free money? These sites are full of ads, they make money with those. (For the same reason, if you use an AdBlocker, you cannot visit most of them.) You spend time on the website, the owners of the website earn money from advertisements, and they give a small amount of satoshi as a gift. However, no faucet website gives more than 1,000 sat.
Other sources of income are referral links. If you are a member of a faucet site, you are getting a special, personalized link. If another person subscribes to the site using this link, the amount of satoshi you earn is increasing. It is a kind of pyramid scheme, and it is still unclear whether it is legal or not. Because you are not required to make an investment, it is enough to spend time on the website. Even with a capital of only 3 BTC, you can also set up a faucet site. In the long run, the income you get from advertising will be more than the satoshi you distribute.
Are They Legal?
In fact, the question you need to ask here is whether they really give free satoshi or not. The good news is, yes, they really do. The bad news is that the amount of satoshi you can get is very small and it is deposited to an intermediary system (like faucethub). So by using faucet system, you won’t be entering the BTC market. You must have a BTC account already. If you log into the faucet system with your BTC account information, you can use the satoshi stored in the system.
To give you an idea, let’s take a look at a list of some faucet sites:
Time You Must Spend at the Site
Do not think that you can visit these websites and become afk (away from keyboard). Visiting the sites is not enough, you are asked to perform some tasks (like captcha solution) at certain intervals. Also, not every website is reliable: Some places started to install a miner on your browser without asking you. This miner software uses your processor to generate BTC and negatively affect the performance of your computer. To give you an average figure, you can earn 500-600 sat by visiting the faucet sites for 1 hour. It takes about 1 week for you to earn 1 USD worth of satoshi.
Another Method: AirDrops
These are not high numbers, but those who use the system now use it because they believe that BTC and satoshi values will increase even further in the near future. So they are already accumulating satoshi to use it for investment purposes in the coming years. Another way to earn free BTC is to follow the frequently held AirDrop events. Universities and foundations are organizing such events to increase interest in BTC. Within the scope of the act, anyone is invited to become a member of a local blockchain. If you agree, you can win 10,000 sat in one go. For example, in the US, Blockchain Education Network is organizing AirDrop events nationwide with a capital of 5 BTC. You can use mobile apps to join these events.