Are Bitcoin Faucets Worthwhile in 2021?

Years ago, you could click on a Bitcoin faucet and earn dozens of BTC! Today, that would be worth hundreds of thousands of dollars... Of course, there are no faucets that continue to give out such outrageous earnings, but you can definitely sign up and get free Bitcoin.

The question is... is this really worthwhile or are you just wasting your time?

The Short Answer

The simplest answer is that you cannot quickly make lots of free Bitcoin through any faucet in 2021. Sorry, but it's just not going to happen. However, if you are patient and apply a few intelligent strategies, you can build up a decent income. Read on to find out more...

The Best Bitcoin Faucets

I've been using Bitcoin faucets since 2016 and as the value of Bitcoin goes up, the amount they pay out goes down. However, not all faucets are the same and some definitely provide more value than others. There are hundreds of them that you can find on Google, but honestly most are really crap and spammy. I wouldn't even want them on my computer in case I got some sort of virus or malware.

There are two faucets, though, that I really do recommend. I've been using them both for a long time with no problems:

1. Freebitco.in
2. BetFury

I have been using Freebitco.in for about four or five years and it has paid out consistently. I really like how reliable it is and the fact that I have never once had a problem with depositing or withdrawing money. The faucet pays out a rate that is pegged to the dollar, so it goes up as Bitcoin drops in value and down as Bitcoin rises. As such, I was making decent amounts of satoshis when BTC was at $3,000 but now it's a lot less.

As for BetFury, I absolutely love this platform. I used to think it was too good to be true, but I've used it reliably for a long time now. Withdrawals work easily and if you have a problem, the team are quick to sort it. My friend got locked out of his account for a week last year and thought it was a scam... but when they finally helped him back in, they gave him a load of free Bitcoin as a way of saying sorry! How cool is that?!

Right now, Freebitco.in is paying out only about 10 satoshis per hour, which is not great, but BetFury pays 10 satoshis every 20 minutes, which is 60 satoshis an hour. You might be thinking, "This isn't worthwhile," and you may be right... except there are a few strategies you need to consider.

Strategies for Maximising Bitcoin Faucet Gains

Holding for Price Increases

First of all, remember that the value of Bitcoin changes a lot. I used to make 100,000 satoshis per day and that felt like nothing, but now 100,000 sats is worth $40! Thus, by simply holding my Bitcoin until the value increased, those "few" satoshis actually added up to really good money. Bitcoin is currently at $40,000 but could well increase to $400,000, meaning that whatever you earn now could be worth 10x that much in future.

Being Patient

Obviously, being patient is important in investing, and this is true even when you're getting free Bitcoin. I've been using faucets for years and at no stage did I ever try to withdraw daily. It's just stupid unless you're somehow getting huge payouts. Instead, I waited until my satoshis had added up and the value of Bitcoin had increased, then moved my holdings to somewhere I could sell. Honestly, I'm a long-term Bitcoin hodler, so I don't even sell that much. A few weeks ago, however, I sold 0.05BTC that was all faucet gains. It felt great!

Also, part of being patient is being persistent and continuing to click. It is easy to get bored earning 60 satoshis an hour and converting it mentally to just pennies in dollar terms, but remember that it all adds up, particularly when you consider the price increases that are possible. Keep clicking and your satoshi stacks will grow. Especially if...

Using Multiple Faucets

I work from home, so using faucets is easy for me. I just set a timer and click the button every 20 mins for BetFury and every hour for Freebitco.in. If I am using other faucets, I click those at the same time. It means that instead of "just" earning 60 sats an hour, I can earn several hundred! It's called using your time smartly.

Compounding your Gains

This is really, really important so pay attention.

If you just click on a faucet every hour, you will very slowly accumulate BTC. This is great, but you want to maximise your gains. To do that, you need to invest those satoshis wisely.

Freebitco.in is cool because you earn daily interest on the BTC you hold in your account. It works out at more than 4% per year, which is great. For me, the best long-term strategy in crypto is increasing your holdings.

BetFury does it differently. They offer "boxes," which are basically limited capacity investments. Sometimes you earn 8% or sometimes 30% and recently they had one for 100%! The only downside is that they limit the amount you can invest to a certain amount - 10,000 sats for some boxes, 1,000,000 sats for others.

You can also gamble your earnings but please be careful. Gambling can be a fool's game. Only bet what you are willing to lose. BetFury is great because you earn their native token by betting and this also pays you back by "mining" Bitcoin, Ethereum, and others. Remember that you can set your own rates, so you could have - for example - a 95% chance of winning, then gamble until you earn lots of points. These can prove very valuable in the long run.

Mix and Match Cryptos

There is more to crypto than just Bitcoin. If you want to maximise your gains, choose a number of faucets and use them together. You could, for example, have three Bitcoin faucets, an Eth faucet, and a Litecoin faucet. That would help you to earn a range of tokens in case one pumps over another.

Sometimes it is wise to pick a small cap coin and use their faucet because these have a better chance of pumping 100x, but of course they are also more likely to drop in value. Still, it doesn't hurt to diversify a little.

Conclusion

Bitcoin faucets are not as profitable as they used to be, but if you are smart and patient then you can still earn good money. By using a range of faucets and taking advantage of any offers to compound your earnings, you can build a respectable stash of satoshis.