I write a lot about how to invest in cryptocurrencies if you're wealthy. Bitcoin Faucets are a great way to obtain cryptocurrency if you aren't.
Mine Bitcoin Directly From Your Computer
You don't have to buy equipment. You can mine Bitcoin through what are referred to as "Bitcoin Faucets". To make a "claim" on one of these Bitcoin faucets, all you have to do is register and follow the claim instructions. Claim instructions generally tell you to click on a captcha that proves you are human to make the claim.
I will also be conducting a study to see if Bitcoin Faucets can create and/or help to facilitate a basic income. I plan on publishing the results of this study in six months. I want to do this because:
- I'm a Bitcoin enthusiast and a social entrepreneur. I want to see the usage of both increase worldwide and this is a means to both.
- Mining crypto through computers is a great way to invest in this asset class without having to spend money.
- As a writer, my general audience is high net worth individuals. This experiment provides a way for everyone to earn Bitcoin for free.
- I'm an advocate of universal income and I think the faucet system is a unique way to facilitate its adoption and the distribution of funds.
What are Bitcoin Faucets?
A "faucet" is a term used in the cryptocurrency world. It means a place where you can go to claim a small amount of crypto (like 1% of $.01). There are hundreds of faucets out there. Some are scams, some are real.
At first I, like many others, dismissed this as a Ponzi scheme of some sort. You are investing your time, nothing else. Faucet owners get paid by advertisers and in exchange they give you a portion of those earnings. I've been doing it for about a month and have made a successful withdrawal of coins to my wallet. I've also researched these faucets and they are highly reputable.
All you need to sign up for the faucet is an email address and a computer. Never give your real ID, address or any payment information to any faucet.
Bitcoin Faucet Claims Are Small
Early investors of Bitcoin paid just $.06 for a Bitcoin. A $100 investment seven years ago would be worth $28 million today. One year later at $3.19, $100 would have bought you 31 Bitcoin. In 2013, Bitcoin really took off to $724. Six months ago, in June 2017, no one thought Bitcoin could go much higher than $2,500. At the end of 2017, Bitcoin was trading for $13,170.
No wonder people are fascinated with Bitcoin as an investment.
The biggest complaint about Bitcoin faucets is that "the amount of the claim is too small." If you have a lot of money or got in on cryptocurrency 7 years ago, I can understand your reasoning. Bitcoin faucets make small claims, but as I learned in the article Meet The World's Cheapest Millionaire On 'Extreme Cheapskates, one man's crap is a rich man's treasure.
Still, this is a valid concern, especially for people with bills to pay and no extra time on their hands.
This is my response to these concerns:
- The amount is small, but there are ways to maximize your earnings. Each faucet, like a game, has a few secrets that can greatly increase your earnings, sometimes by 500%.
- You can't make a decent income by yourself, you need referrals. Those referrals must be power users as well, at least until they build up their own referral base, so you need to teach them your secrets about how to optimize the claim. It is not enough to simply give someone else your referral code. You also need to help them optimize their time spent.
- Bitcoin is the front-runner in the fastest growing asset class in the world. A you can see from the chart below: the value of Bitcoin is highly volatile and tends to go up over time.
This is perhaps the most important aspect of this experiment for me. It gives anyone with an email address the ability to earn/mine crypto, just like Bitcoin miners were doing 8 years ago.
In one year the value of the Bitcoin you have may be 10x what it is today. It could also be 10x less, but at least you don't lose any money if you "mined" your Bitcoin from a Bitcoin faucet. In other words, the value of what you hold may be small today, but the value of cryptos is going up and as it does this is a way for you (for everyone) to invest even if you don't have the money.
- These faucets give out more than Bitcoin. They also give out Bitcoin Cash, Litecoin, Dash and Dogecoin. You are actually earning a diversified set of cryptos. Each one of these is on the top 50 list of cryptos by market capitalization.
- Finally, think of your daily claim potential as you would interest on savings. The amount may be small, but it has the potential to add up over time. Also keep in mind, inflation is going up. The value of a dollar in savings may not be worth what it is today. Much of the interest in Bitcoin is due to a loss of interest in the US dollar.
What will I be compensated for this experiment?
You will be compensated in the crypto that you earn.
Why only 100?
In my research model you only need 100 referrals to optimize your results. Of course, you are always welcome to do more. As you grow your referral base, you may want to limit the number of people as well.
You need to be able to answer questions and help each person, regardless of their level of understanding. In fact, if they know how to use faucets already you can show them the tips I provide, but you may not want them in your 100 referral group. Not that they won't be a good referral, but because the goal of the experiment is to help those who can benefit from this the most. This is social entrepreneurship at its best. You benefit the most from helping those that need it the most.
This is an experiment that could really benefit others and I'd like to share it with as many people as possible.
How To Start Making Claims
You will need an email address and a computer. You will never need any ID, payment information, or password information to do a faucet.
These are the steps you will go through at a high level:
Step 1: Sign up for a Coinpot MicroWallet (https://coinpot.co/). This is a where each faucet will send your "claim". When you reach your withdrawal minimum, you will want to move your crypto currency from your software wallet (CoinPot) to another wallet.
Step 2: Sign up with each of the following faucets. Each one of these faucets is already connected to your Coinpot MicroWallet. As long as you sign up with the same email address you used to sign up for your Coinpot, they are automatically connected. Play around with each faucet a bit to get a feel for how this works. Please use my referral codes to sign up for the faucet.
Step 3: Optimize performance on each faucet. I've modeled out the performance of each faucet.
Each faucet has its own incentive structure. In general there are two different structures. Your goal is to maximize the claim by paying attention to rewards:
This is a unique faucet. It pays out in Bitcoin. It is the only incentive structure with 5 different bonus categories. Each bonus category gives you the ability to double your claim amount. It also pays at 50% for referrals. This makes Moon Bitcoin one of the best opportunities in the Coinpot faucet network. In addition to referrals, Moon Bitcoin also rewards the following:
- Loyalty bonus - Action: make a claim at least once a day. This is the easiest bonus. All you have to do is make a claim every day and you get a bonus. If you miss a day, it resets back to 1 and you have to walk up to 100% again.
- Referral bonus - Action: refer at least 100 people to take full advantage of the referral bonus.
In addition to getting 50% of your referral's claims, you also get a 1% bonus for every person you sign up -- up to 100%. This bonus has a ceiling of 100 people, but your referral commission does not.
- Offer Bonus - Action: do 10 offers to take full advantage of the 100% claim bonus. This bonus has a ceiling of 10 offers.
- Mystery Bonus - Do nothing and earn this bonus.
- Mining Bonus -- Mine on your computer for a 100% bonus depending on your hash rate. This is new.
There's one other thing that is absolutely critical in your claim amount. This is true for all 6 faucets -- the number of times you claim can drastically increase your daily claim amount. For example, based on the current claim rate which is published on the Moon Bitcoin site, if you claim every 5 minutes for 4 weeks you get 16,128 satoshi (assuming no referrals or bonus opportunities). However, if you claim every 4 weeks you get 111 satoshi.
The key to optimizing this faucet is to claim as often as you can, at least once a day for the loyalty bonus. You want to refer at least 100 people to take advantage of the 50% referral commission and max out on the 1% per referral bonus. You want to do 10 offers to take advantage of the offer bonus. You can also get a bonus for mining on your computer. Focusing on these actions can greatly increase your claims.
Moon Dogecoin is like Moon Bitcoin, but pays out in Dogecoin. All the Moon faucets have the same basic structure, but not as many bonus options.
- Loyalty bonus - Action: make a claim at least once a day. This is the easiest bonus. All you have to do is make a claim every day and you get a bonus. If you miss a day, it resets back to 1 and you have to walk up to 100% again.
- Referral bonus - Action: refer at least 100 people to take full advantage of the referral bonus. In addition to getting 25% (not 50% like Moon Bitcoin) of your referral's claims, you also get a 1% bonus for every person you sign up -- up to 100%. This bonus has a ceiling of 100 people, but your referral commission does not.
- Mystery Bonus - Do nothing and earn this bonus.
The key to optimizing this faucet is to claim as often as you can, at least once a day for the loyalty bonus. You want to refer at least 100 people to take advantage of the 25% referral commission and max out on the 1% per referral bonus. Focusing on these actions can greatly increase your claims.
Moon Litecoin is the same as Moon Dogecoin.
- Loyalty bonus - Action: make a claim at least once a day. This is the easiest bonus. All you have to do is make a claim every day and you get a bonus. If you miss a day, it resets back to 1 and you have to walk up to 100% again.
- Referral bonus - Action: refer at least 100 people to take full advantage of the referral bonus. In addition to getting 25% (not 50% like Moon Bitcoin) of your referral's claims, you also get a 1% bonus for every person you sign up -- up to 100%. This bonus has a ceiling of 100 people, but your referral commission does not.
- Mystery Bonus - Do nothing and earn this bonus.
The key to optimizing this faucet is to claim as often as you can, at least once a day for the loyalty bonus. You want to refer at least 100 people to take advantage of the 25% referral commission and max out on the 1% per referral bonus. Focusing on these actions can greatly increase your claims.
Newest faucet with highest claim amount, but the structure is the bonus structure is the same as MoonDoge and MoonLitecoin, but pays out in Bitcoin Cash. You can optimize your daily claims by doing the following:
- Loyalty bonus - Action: make a claim at least once a day. This is the easiest bonus. All you have to do is make a claim every day and you get a bonus. If you miss a day, it resets back to 1 and you have to walk up to 100% again.
- Referral bonus - Action: refer at least 100 people to take full advantage of the referral bonus. In addition to getting 25% (not 50% like Moon Bitcoin) of your referral's claims, you also get a 1% bonus for every person you sign up -- up to 100%. This bonus has a ceiling of 100 people, but your referral commission does not.
- Mystery Bonus - Do nothing and earn this bonus.
The key to optimizing this faucet is to claim as often as you can, at least once a day for the loyalty bonus. You want to refer at least 100 people to take advantage of the 25% referral commission and max out on the 1% per referral bonus. Focusing on these actions can greatly increase your claims.
MoonDash is the same as MoonDoge, MoonLitecoin and MoonCash, but it pays out in Dash.
- Loyalty bonus - Action: make a claim at least once a day. This is the easiest bonus. All you have to do is make a claim every day and you get a bonus. If you miss a day, it resets back to 1 and you have to walk up to 100% again.
- Referral bonus - Action: refer at least 100 people to take full advantage of the referral bonus. In addition to getting 25% (not 50% like Moon Bitcoin) of your referral's claims, you also get a 1% bonus for every person you sign up -- up to 100%. This bonus has a ceiling of 100 people, but your referral commission does not.
- Mystery Bonus - Do nothing and earn this bonus.
The key to optimizing this faucet is to claim as often as you can, at least once a day for the loyalty bonus. You want to refer at least 100 people to take advantage of the 25% referral commission and max out on the 1% per referral bonus. Focusing on these actions can greatly increase your claims.
Bitfun is slightly different. It pays out in Bitcoin at a higher rate than MoonBitcoin. You can also play games and do offers. Playing games does not increase faucet amount rate, however. You can only make a claim every 15 minutes as opposed to 5 min. with the other Moon faucets.
Referral bonus - Action: refer as many people as possible to take advantage of the 50% commission.
The key to optimizing this faucet is to claim as often as you can, but there is no loyalty bonus. You want to refer as many people as you can to take advantage of the 50% referral commission. Focusing on these actions can greatly increase your claims.
Bonus Bitcoin pays out in Bitcoin. The amount you can claim varies, but you can get a bonus of 5% on all your claims and referrals for the past 3 days as long as you make a claim every day. You can only make a claim every 15 minutes as opposed to 5 min. with the other Moon faucets.
Referral bonus - Action: refer as many people as possible to take advantage of the 50%
commission.
The key to optimizing this faucet is to claim as often as you can every 15 min. You want to refer as many people as you can to take advantage of the 50% referral commission and the 72 hr loayalty bonus. Focusing on these actions can greatly increase your claims.
Step 4: Final Step - Take what I've written here and make it your own. You have full license to plagiarize all you want. First, replace my referral codes with your own referral codes (please let me know if you need help finding your codes). Send it out to your friends and family. Set up a seminar at your community center or library. Send it out on Facebook/Twitter/Instagram. If you do add additional faucets to your list, be sure to vet them out for your base.
You can look up the price of any cryptocurrency on https://coinmarketcap.com/.