Bonus Bitcoin review is a great topic that would help many individuals understand what they are getting into the online money-making business.
In the Bonus Bitcoin faucet, you’re led to believe that you can sign up, claim your bitcoins, and have them sent directly to your CoinPot account. This is not the case.
What’s the real story here, though? I’m sure you’ll agree that it sounds a little crazy when a website promises to give you free Bitcoins.
Is Bonus Bitcoin legitimate or a scam?
And from where, exactly, is all of this “free money” supposedly coming?
With this article, you will get all the information you need to know about bonus bitcoin, and whether or not it is genuine or a scam.
A brief: bonus bitcoin review
What Is Bonus Bitcoin, Anyway?
Bonus Bitcoin claims to be a “Bitcoin faucet” because they claim to be able to provide you with a way to earn free Bitcoins. Bonus Bitcoin may look like a scam at first, but it’s actually a reasonable website – though it’s not quite as great as it’s made out to be – and you’ll see why soon enough.
Signing up for Bonus Bitcoin is simple, and you can claim your free Bitcoins every 15 minutes by logging in. As of right now, you can claim up to 5,000 Satoshi per claim, which equates to approximately 0.42 U.S. dollars.
Because claims can only be made once every 15 minutes, this means the maximum earning capacity from free claims through this site would be around $1.68 an hour (exclusive of bonus).
Realistically, not having to do anything isn’t all that bad. However, keep in mind that they only say “up to” 5,000 satoshis per claim, so you’re likely to get much less than that.
It’s all about perspective, right?
You may be wondering where all the money is coming from, and that’s understandable.
How is it possible that they can just give away free Bitcoins? Surely there’s a benefit for them. And you would see it in this bonus bitcoin review.
Bonus Bitcoin Review: Faucet’s Mechanism?
Because the Bonus Bitcoin faucet relies on advertising revenue, disabling your ad blockers is a requirement to take part in the program. They’re making money from advertisers who pay to have their ads displayed on the site.
Disabling your ad blockers will allow many of the advertisements to show on your dashboard. In other words, advertisers foot the bill, Bonus Bitcoin foots a portion of it, and then it’s passed on to you, the members.
One thing to worry about is the fact that the payment will be disbursed to registered members only, meaning that if they have 100 members, the bitcoin would be shared among the 100 members.
So what happens if the number of registered members exceeds the number of coins generated from advertising?
And if this loophole is not looked into on time, the program will not be sustained for long, because many people need this free money too.
In addition to the 15-minute free claims, there are other ways to make money, and there are bonuses as well. And they are:
- There is a 5% daily bonus for making at least one faucet claim the day before.
- Your referrals’ earnings are subject to a 50% commission.
- Playing games can help you earn more money (they contain adverts too).
- Completing offers and surveys will earn you more Satoshi.
In the end, however, despite the numerous opportunities for earning and the numerous bonuses offered, you are unlikely to make any significant money from this website. In reality, you will be compensated pitifully for your time.
Bonus Bitcoin Review: Advantages and Drawbacks
Well, Bonus Bitcoin appears to be an honest operation; the business model also appears to be sound.
But there are some issues with the website, so even though it is legitimate, you may not want to join – but this decision lies with you after you have gone through the merits and demerits of the bonus bitcoin faucets.
As a starting point, we’ll start with the advantages:
- You can earn bitcoins for free using this website.
- 50 percent commission is a substantial incentive for users to refer others to the website.
- Your CoinPot account can be used to withdraw your earnings immediately.
- Huge sums of money are available to pay members.
- Regular site maintenance, and during the period, fewer ads are displayed.
- A user interface that is simple and intuitive to use.
Here are the drawbacks:
- As a result of your time, you are only receiving a pittance in compensation.
- As the number of users on the site increases, there may be a potential crash of the program.
- There are a lot of advertisements on this website, and it’s getting old.
- A quick scan of the site revealed that some of the ads lead to scams.
- There are far too many problems with registration.
- It is taking too long to process a payment.
Is Bonus Bitcoin a ripoff?
In my opinion, bonus bitcoin is not a rip-off. According to my research, they offer a genuine way to earn free bitcoins online, but to be honest, you won’t make much money with this site.
Even if you don’t mind giving up a lot of time and money to earn bitcoins for free, the reality is that you won’t be getting much in return.
If you’re interested in making money, this article would not recommend signing up for this opportunity right away because I think there are better ways to do so.
It’s also difficult to see how this could be sustainable in the long run. Even if it’s working for the time being, what will happen if the number of users grows in the future?
Advertisement revenue can never be enough to keep paying all of the members.
Anyway, as previously stated, this opportunity is legitimate, but this article would not recommend it to you for a variety of reasons.
What is the mechanism by which Bitcoin operates?
When Satoshi Nakamoto came up with the idea of Bitcoin in 2008, he used a pseudonym to describe the technology. Digital money that allows for safe peer-to-peer transactions over the Internet is what bitcoin is all about.
Cryptography had a breakthrough when Bitcoin was created. An important feature of the blockchain is its ability to record every transaction that has ever been made using bitcoins.
The Bitcoin blockchain, unlike a bank’s ledger, is distributed and verifiable on a network of computers. Neither a country nor a corporation has any say over it. And anyone can join the network at any time.
With its foundation in encryption, Bitcoin is impenetrable to hackers and available to everyone. With Bitcoin’s global network, you can set up a “bank account” with an impossibly long password, which is known as a “private key.”
Using the public key, anyone with Internet access can receive, send, and hold Bitcoin (i.e. the version of their private key that can be freely shared to securely receive funds).
Anyone with Internet access can use the public version of their key to receive, send, and hold Bitcoin (i.e., the version of their private key that can be freely shared to securely receive funds).
There can only be 21 million bitcoins. In contrast to traditional currencies, bitcoins cannot be manipulated by anyone, including governments or central bankers.
Since it is so easily divided, Bitcoin is a very useful currency. It is possible to store, send, and receive a fraction of a bitcoin.
It is referred to as “satoshis” or “sats” for the 0.00000001 BTC unit. Because of the rapid rise in bitcoin’s value, its scalability has become an important differentiator.
Exactly what does it mean to “mine” bitcoins?
Like gold, new bitcoins are created through “mining,” which is similar to the process of creating new gold (up to a maximum of 21 million coins).
To record and verify transactions on the Bitcoin network, hundreds of thousands of computers compete around the world.
To check and record a new transaction, special computers known as “mining rigs” are used.
The brains behind Bitcoin
The white paper by Satoshi Nakamoto, published online in late 2008, was the first to lay out the principles of Bitcoin.
When Nakamoto came up with the idea of the bitcoin private key and the blockchain ledger, he combined them into one concept.
Private keys—a string of digits and letters that unlock the virtual vault in which you store your bitcoin—are used to make transactions.
The blockchain, a decentralized digital ledger, keeps a record of every private key that has ever been generated by anyone.
The identity of Satoshi Nakamoto has never been made public, and it is highly unlikely that it ever will be.
One of the most appealing features of Bitcoin is the fact that it is decentralized, meaning that it cannot be manipulated by any single entity.
What makes Bitcoin so valuable?
The value of Bitcoin is derived from the following characteristics:
- A monetary supply that is always the same and never changes. In contrast to government-backed money, new Bitcoin can not be created by any elected or unelected official in the trillions.
- Bitcoin is run using open-source code and is completely transparent around the world. There is no limit to the number of Bitcoins that can be mined, and no limit to how much money can be stored in each account on the global ledger at any given time.
- Bitcoin is protected by cutting-edge encryption and backed by vast amounts of energy. Bitcoin’s core encryption is so complex that attempting to break it would require an incomprehensible amount of energy, highly specialized computers, and space.
Coinpot Cryptocurrency Microwallet
A Coinpot cryptocurrency micro-wallet combines payments from reputable faucets (like Bonus Bitcoin, Bitfun, Moon Bitcoin, Moon Dogecoin, Moon Dash, Moon Cash, and Moon Litecoin) so that you can reach the withdrawal threshold faster. Using the same email address for all faucets involved is necessary.
CoinPot currently accepts Bitcoin, Dogecoin, Litecoin, Dash, and Bitcoin Cash as payment options.
XAPO, FaucetFly, FaucetHub, and other similar services allow you to make withdrawals straight to your wallet via the blockchain.
(Please note that the withdrawal thresholds for each of these options vary, and some may incur withdrawal fees.)
Coinpot allows you to instantly convert various cryptocurrencies (Bitcoin, Litecoin, Dogecoin, Dash, Bitcoin Cash, etc.) into one. The Moon Litecoin faucet, for example, allows you to convert litecoin to bitcoin and vice versa.
By using CoinPot’s cloud mining service, you can mine bitcoins without a computer at all.
Frequently Asked Questions (FAQs)
Still not clear about the bonus bitcoin review? Then a look at some of the questions below might help.
Is Bonus Bitcoin BBB Accredited?
No, BBB Accreditation is not accredited by the Better Business Bureau.
Having Bonus Bitcoin not be listed or accredited does not mean that it is a scam, but rather that it is not currently listed or accredited.
Joining Bonus Bitcoin Is Free, But Is It Worth It?
This question is relative to everyone. To you, it may not be worth it, due to the amount it pays out.
Since you don’t pay a dime to partake in it, then you have nothing to lose, but what if it pays you well over a long period?
Bonus Bitcoin’s earnings aren’t much, to begin with if you take a hard look at them.
Bonus Bitcoin is an affiliate program rather than a typical multi-level marketing (MLM) program; the only way to earn is directly from the referrals you bring in.
What you’re looking at is a pitiful amount of money, which when considered with the effort you put in, you will see it’s pathetic.