I had stopped using a lot of bitcoin faucets now. In the beginning it was fun knowing that you are collecting free coins in exchange of your time spent clicking. That is not free after all because you are doing the faucets a favor when you click on their ads and sometimes these ads are the source of malwares without you knowing it. Not all faucets are bad. Right now I am still using at least three of them but only when I have the time. I do not want to give up on these faucets yet but I need to make a wise of my time. Until freebitcoin faucets introduced this idea of staking your bitcoins on their site and you earn daily interest.
At first I doubt that this is going to be true as it sounded too good to be true. Well, how would I know if I did not try right? I had been a risk taker and will do anything once just so I and people reading my blog could benefit from my experience. I quoted below their statement:
Your FreeBitco.in account is now also a bitcoin savings wallet!
Receive compounded daily interest on any balance that you hold in your FreeBitco.in account, without doing anything.
All you need to do is mantain a balance of at least 30,000 satoshi (0.0003 BTC) in your FreeBitco.in account and we shall pay you compounded interest on your full balance everyday. There is no lock-in period to earn interest (you start earning interest right from the first day!) and your balance can be withdrawn any time you wish. Treat your FreeBitco.in account like an instant-access savings account to hold your excess bitcoins and earn passive interest on your account balance everyday.Annual Interest Rate — 4.08%
We also pay you 25% referral commissions on any interest earned by your referrals!
I was about to cash out my 30,000 satoshi when I read about this new concept. I thought I got nothing to lose because I will just hold these 30,000 satoshis and take it from there. Matter of fact I was so convinced by this idea and deposited 0.00149550BTC last April 17, 2018. You do not have to do that but for the purpose of demonstration I invested that little amount. The photo below show daily interest that my account balance is making. It is nothing much but this saves me time clicking on faucets. Now I can spend the time I saved here to another task that is worth my attention.
Please read this FAQ from their website:
- Can I opt-out from receiving interest on my account balance? Sure, you can do so under the DISABLE INTEREST option in the PROFILE page.
- Is there a lock-in period or minimum investment period before I start earning interest? No! You start earning interest from the first day itself. There is no lock-in period, you can withdraw your bitcoins anytime you wish by using the WITHDRAW button at the top of the page. We always keep enough reserves to satisfy all withdrawals.
- Can I earn referral commissions on interest earned by my referrals?Yes! We pay you a 25% commission on any interest earned by your referrals. If your referral gets 100 satoshi in interest for a day, you will get 25 satoshi credited to your account
- Will the interest rate be fixed forever or can it change?We may change the interest rate in the future if circumstances change. However, we shall communicate all rate changes at least 30 days in advance via the website and our twitter account
- How can I trust you with my money?We have been in business since 2013 and are one of the most popular bitcoin websites (check our Alexa rank here). Our users have deposited thousands of bitcoins and we have paid out tens of thousands of bitcoins over the years. We have also published proof of our mining operation above which can be used to monitor the mining payments we receive. We would recommend that you start saving small amounts first until we have earned your trust after which you can save larger amounts with us if you feel comfortable doing so.
I hope you find this helpful. Kindly share with your friends. Click this link to sign up.