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RE: FREE BITCOIN GUIDE: EPISODE 3 - HOW TO CREATE A FREE COIN PORTFOLIO & GROW IT WITH THESE SIMPLE STEPS
Great write-up showcasing the opportunities with these Bitcoin faucets!
I don't know anything about these faucets; are they fundamentally different from the crypto-lending exchange scams like BitConnect and USI Tech?
Guaranteed interest payouts always draw red flags for me.
I also noticed that you elected for the "all Steem" payout for this post. You'll want to research the pros and cons of that, and see what works best for your situation. From my experience when I went all Steem, my payouts were less than choosing the Steem/SBD combo.
Thank you @bullishmoney! I appreciate it.
Yes, they are fundamentally different from crypto-lending exchanges like Bitconnect. In fact, they are nothing alike. Allow me to explain, when playing with the listed faucets above, the sites will NOT ask for any initial investment or anything of the sort. The business model of these faucets is quite simple. Freebitco is one of the first faucets and it was developed by one of the Bitcoin's developers. The same creator started Freedoge. The functions within the website are simple, you simply roll every hour and you have the chance to win up to $250USD in BTC or Doge. In addition, there's no ad revenue on these two sites so the site probably covers the operations with the chance game.
With regards to the interest on your balance, Freebitco probably use your balance to cover other people's winning and vice versa. My balance has never been touched and I can withdraw it whenever I can with 1 confirmation. FreeBitco is the most trusted faucet since 2010 and has given away more than 130,000BTC with over 12,000,000 daily users. One thing is for sure, they are not going anywhere.
Further, the other faucets that I mentioned run on ad revenue so it's a little annoying but it's nothing unbearable. Bitfun, Bonusbitcoin, and Moonbit give you the opportunity to earn BTC if you complete surveys. This model is not new but if you want to collect more free BTC it's not a bad option. I usually complete surveys within 10-20 min while I'm commuting to work and home.
Lastly, I did change the setting to see if my earnings would change. Duly noted. I also read on an article that the 50/50 setting allows you to earn more. Unfortunately, I cannot reverse my decision but I will keep it in mind for next posts.