To use the GoBits.io faucet, a user must first sign up on FaucetPay.io, as their earnings are processed via the former.
Unlike other crypto faucets, which often require users to complete various tasks such as viewing ads from partner projects, completing surveys, playing games, participating in offerwalls, and more, GoBit.io only require users to solve a simple ReCaptcha on the platform to claim their rewards every 15 minutes.
For the uninitiated, a bitcoin faucet is a reward system usually in the form of a website or software application. These faucets dispense bitcoin and altcoin rewards to users when they complete various tasks on the platform, including completing captcha, solving simple puzzles, viewing ads, and more.
In addition to rewarding users with juicy satoshis for solving very simple reCaptcha puzzles, GoBits also offers its users a massive 50 percent referral bonus when new users register on the platform via their link and participate.
In its early days, GoBits.io offered users between 5 to 100 satoshis every seven minutes for simply solving captchas. However, as the price of bitcoin has surged over the years, the platform has decided to do a downward review of its offerings in order to remain in business.
On Trustpilot, a Danish-headquartered consumer review website, that hosts reviews of businesses worldwide, GoBits is rated 3.6 stars out of a possible five-star rating, an indication that the platform is legit.
While a vast array of crypto faucets restrict users from certain jurisdictions from using their platforms, GoBits.io welcomes users from various countries of the world. However, the use of automated software, VPNs, VPS, and other proxy connections is prohibited on GoBits.
Users are advised to disable all of the above software on their devices prior to using GoBits in order not to risk getting banned or forfeiting their hard-earned funds on the platform.
Though there are now countless ways of earning digital currencies on the internet, including staking, yield farming, lending, play-to-earn gaming, and more, crypto faucets remain one of the easiest ways of earning free bitcoin (BTC) and alternative cryptoassets, such as ether (ETH), litecoin (LTC), dogecoin (DOGE) and more, especially for those who are new in the crypto ecosystem or a risk-averse kind of person.
The first-ever cryptocurrency faucet known as “The Bitcoin Faucet,” was created in 2010 by Gavin Andresen, the lead developer at the Bitcoin Foundation. In the early days, the Bitcoin Faucet gave out five BTC to each user, distributed at various time intervals. However, that amount decreased to Satoshi (one-hundred-millionth of a bitcoin – 0.000000001 BTC) over time, as the price of bitcoin continued to rise.
While crypto faucets are free to use, require no initial investment from participants, and one does not need to be a blockchain professional to earn free coins from faucets, users must have it in the back of their minds that it requires time, dedication, and patience for one to make a decent income from cryptocurrency faucets.
It must also be noted that crypto faucets are not get-rich-quick schemes. Therefore, one must be ready to work very hard to accumulate enough coins.