Good day out there in the Steem arena, and welcome to D Wings World. Where information and adventure await!! Today, I want to discuss the use of Bitcoin Faucet sites, and why I think they are a good way for an entry level investor to start working on building their holdings. Keep in mind that this is all my perspective, and you will still have to do your own research. However, I will go over how I arrived at the faucet site I did, and what characteristic drew me to it.
Firstly, I began trying to find a faucet site by simple searching for articles related to the topic. This step is very important because you have to validate the reliability and credibility of the site you are going to try and utilize. After I had gone through a few pages and found several sites that more than one individual verified as paying out and legitimate, I began to look at those sites individually and look at their features. The end result of this exercise was choosing http://FreeBitco.in as the faucet site I wanted to begin with.
There are a couple different reasons that I went with this site. First and foremost, was its history of paying out to those that use it. There are a ton of stories out there about people that have done faucets sites, but their earnings never got transferred to their account. I was unable to find any information linking this site to that practice in the past. This website is one of the oldest and most consistent faucet sites for Bitcoin, and has been operating since 2014.
Secondly, was the fact that the amount of bitcoin you can win on free rolls is able to change based off of the market price of Bitcoin. This could be an issue if Bitcoin would drop in price, however while the price is climbing it is a very nice perk. It also shows how the site is able to run successfully and payout because they are not promising an amount that may become unreasonable. For instance, if in 2014 the site said we will give you half a Bitcoin for every free roll then as Bitcoin became worth more that formula would be unsustainable. If it is a percentage tied to market price then they are able to continue growing their holdings without taking too much of a hit from payouts.
The next reason is they have several investing features that I enjoy. Now, I will include a gambling game they offer in this section, but I will not be using it at all unless my Bitcoin holdings become much larger. The other four that really peaked my interest were the rewards points, lottery tickets, referral program, and savings interest. With every free roll you earn at least 2 rewards points and a lottery ticket, but you can also buy Bitcoin or more lottery tickets. They also run promotions where you get extra rewards at various times, which can be to your benefit. My basic strategy right now is to build up my rewards points and lottery tickets then cash them in when I have a very large amount in order to make the most I can.
The referral program also plays a part in my strategy as I am hoping to enlist those that read my content to us my referral code: https://freebitco.in/?r=6404636 , while putting theirs in the replies below. I will then use those codes and we can help each other gain more holdings in Bitcoin. I think that this is a fine way for users to help others gain more wealth, and we are doing it with very little risk.
Finally, you are able to earn interest on your Bitcoin amount daily if you continue to store it with the website. The daily interest rate around 4% is pretty good and if you are starting with a small amount as I am this can help it to grow. There really is not risk in storing the amounts we are dealing with on the faucet site because they are so small. Now as your investment grows, you should definitely look into a hot wallet or a cold wallet depending on the amount of Bitcoin or other crypto you are holding.
In conclusion, this is just a small part of my strategy to move into the world of Cryptos without just being all in for an amount that is seriously risky. I have talked to other investors that want to get familiar with the market, but do not want to jeopardize major funds. I encourage all others to dip your toe in the pool, but only as much as you are ready for. Please remember to up vote, resteem, and comment!! Make sure to share your referral code if you have one and I will use it when I use the faucet site. Thanks again!
