Bitcoin (BTC) Direct Faucets - BestFaucetSites.com
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Updated list of Global Beermoney opportunities (+180!) - June 2020
Updated list of Global Beermoney opportunities (+180!) - June 2020
The current, and now previous, Beermoney Global list started nearly 5 years ago. It’s been updated and has grown over all that time, but it also became a hassle to keep current. It was time to build a new list from scratch based on my experience in the Beermoney world over all these years and all the contributions all of you have been making in this sub. The lists consist of opportunities that are available in at least one country that is not the US. This means there are sites which only work in Canada or the UK. There’s sites which are open to the whole world, but this does not mean everyone can really earn something on it. It’s all still very demographic and therefore location dependent. This list should give you a starting point to try out and find what works for you. I’m not using everything myself as I prefer to focus on a few, so not all are tested by me. They are found in this sub, other subreddits and other resources where people claim to have success. I’ve chosen the format of a simple table with the bare minimum of information to keep things clean. It includes a link, how you earn, personal payment proof if available and sign-up bonus codes if applicable. Some of these bonuses are also one-time use codes specifically made for this sub! For the ones I don’t have payment proof (yet) feel free to provide some as a comment or via modmail so others know it’s legit. I am working on detailed instructions for each method that I personally use which will include things like cashout minimum, cashout options, tips & tricks,... For now I’ve split things up based on the type of earning like passive or mobile. Because of this there’s sometimes an overlap as some are both passive and on mobile or both earning crypto and a GPT (Get Paid To) website. The lists are obviously not complete so I invite you to keep posting new ones in the sub, as a comment to this post, or in modmail. Especially if you have sites or apps which work for one single specific country I can start building a list, just like I did for The Netherlands and Belgium. If you recognize things which are in fact scams or not worth it let me know as well.
Get Paid To (Surveys, tasks, offers, videos, clicking links, play games, searching)
For The Netherlands there are a few very good options next to a bunch of ‘spaarprogramma’s. There ‘spaarprogramma’s are all the same where you receive and click a bunch of e-mails, advertisements, banners,... I advise you to create a separate e-mail address or use a good filter in your inbox as you will be spammed to death. I believe they can be a nice piece of beermoney but they take quite the effort.
Common sites with HIGHEST payout and STABLE income << 04/10/2020 >>
This is a long post, but please try to read it all and select the most suitable one for you. When you see any sites with good payout and good potential, feel free to create a post. Also when you know site that is scam, please create a post to alert everyone as soon as possible. There're 4 main and common types of task you will encounter when using beermoney sites. You can use all the sites or just pick the most suitable type and site to work with. Using more than one site is recommended, as the number of tasks on one site is not high enough, and the tasks will not appear continuously.
I. MICRO-TASK (or Crowdsourcing task)
The task is vary from article assessment, information collection, search-query classification/answer relevance, taking or collecting photo/video, to object identification,... The number of tasks will increase as you complete tasks. Pros: - The number of tasks is higher and more stable than other type of beermoney. - The payout is appropriate to your time and effort. You can even make stable income with them. Cons: - Sometime you will need to pass the training test to access the task. - Your work may not be accepted if it does not meet the guideline. - It can be a little hard in the beginning, there're also not many tasks for you, but BE PATIENT, because they haven't been able to fully assess your ability yet. 1-Toloka Yandex: This is one of my favorite micro task sites, and is the first on the list when I make beermoney site suggestion. The tasks are mainly in English and Russian. They also have task in your mother language too, depend on your setting and location. Don't worry about the language, as you can easily have it to be translated with google translate extension or any translation site and the task is easy enough to understand. The minimum withdrawal is $0.02 if you request to withdrawal once a week, and it will be $1 if more than once a week. You can withdraw the money to PayPal, Payoneer, Skrill or papara. But to be able to withdraw with PayPal, you will need a verified PayPal account. Here are registration links: ref-link and no-ref 2-Clickworker: One of the most popular micro task sites, you can find many recommendations and good reputation about them. But to make the most if it, you will need to unlock UHRS, as describe here. You definitely shouldn't miss Clickworker and UHRS. Their payout rate is higher than Toloka, but be careful that you'll be considered as spam if you complete the task too fast. Depend on your location and language, you can earn a great amount of money here, the highest I've earned in 1 day is $35. You can receive payment to PayPal account with the minimum of €5. You can choose other payment methods too, like SEPA transfers and Transferwise. No need to say anymore, here are the links: ref-link and no-ref 3-Remotasks You will need to take part in training (which is quite hard and time-consuming) and pass the test to be able to access a large number of tasks here. The tasks are categorization, text highlighting, image annotation, semantic segmentation,... and well-known Lidar Annotation and Segmentation. Here are registration links: ref-link and no-ref NOTE FOR MICRO-TASK:
It's highly recommended to use all those sites, and maybe other sites if you want, because the tasks are not shown continuously.
Make sure to fully understand the guideline, as you will not be credited if you work fails to meet the requirement, which will waste your time and effort.
If you find any task with really low credit but require a lot of time and effort, don't do it. If the requester still be able to find worker, they will always offer that price. It's not worth your time, just going to other tasks or going to other sites to see if there're any available tasks for you.
II. OFFER WALL TASK
Another way to earn beermoney online is to complete Offer wall tasks. You will be asked to installing app on your smartphone, signing up, playing game and reaching determined level, or watching video,.... Doing survey can also be listed here, but it will be shown in separate section. There're many offer walls for you to choose, with different payout level. Usually each beermoney site will list many offer walls, one offer can appear in more than one site/wall, so make sure to surf around and compare the credit to find the best and highest payout wall/site for that offer. Pros: - Easy to do - Can complete offer many times if you have different kinds of phone (mostly Android and iOS), or using another phone as the tasks are listed on many different offer walls. - Can earn money while playing and relaxing, as mostly the offered apps are games. Some apps only requires you to install and open, make it really quick to have some beermoney. Cons: - The payout is not very high. Especially when that offer is going through many walls and sites to reach you. - Some offer take much time to complete. - The number of offers is not high enough to do daily. 1-RewardXP RewardXP has surpassed GG2U to become the highest payout site. They have leveling system, the higher level you reach, the more offer walls you can access and the more benefit you can get. With the minimum of $5, they provide a variety of withdrawal methods for you to choose, like PayPal, Amazon, Steam,... You definitely should try this site. Here are your registration links: ref-link and no-ref. Registration with referral link, you will be given a 5000XP (~$0.5) bonus. 2-GG2U: This is also my favorite site. Their paying rate is one of the highest in the market (if you find any other site which is higher, feel free to suggest :D THE HIGHEST ONE NOW is RewardXP, see above). Aside from installing and registering app, they also have many survey walls for you. The most attractive part is that they will give you $1 bonus right after signing up, and after 5 withdrawal requests, you will have a chance to earn up to $7 bonus. With bonus, it's hard to say which is better, RewardXP or GG2U. You can withdraw money to your PayPal account or Coinbase (crypto wallet), with the minimum of $7. Here are your links: ref-link and no-ref 3-Cointiply One of the most popular sites, with great community. They will pay you with cryptocurrency like Bitcoin or Doge. You will have many chances to earn coins, by doing offer walls task, rolling the faucet every 1 hour, testing your luck with multiplier or by activating in their really crowded chat room. You can also earn some coins by clicking Paid-to-click ads. Most of the time, those ads are from Cointiply user with their referral link embedded, so if you register sites when viewing those ads, they will earn some commission. You can try this strategy too :D With their mobile app, it will be much easier to do mobile offers. Make sure to check your email and mobile app to get the user-limited Promotion Codes regularly. Registration links: ref-link and no-ref 4-Swagbucks Sometime you can earn money by spending less. Swagbucks offers a big number of sites where you can receive cash back when you shop online. If you shop online a lot, it's worth to take a look Here are registration link for shopping: ref-link-shopping and no-ref-shopping Beside the cash back program, Swagbucks also provides offer wall, however the paying rate is not as high as site 1 and 2 above. Anyway, if you want to try, here're your registration links: ref-link and no-ref 5-EarnCrypto If you're into doing offer walls task and earning crypto currency, try this site too. Their paying rate is quite lower than above sites, but they have Data entry task, which is daily, for you to earn some coins. By ranking high on their daily leader board, you will be rewarded with a great amount of coins (can even be higher than your earning from doing the data entry task itself :D). There are many different kinds of crypto currency for you to select. Just take a look if you have time: ref-link and no-ref NOTE FOR OFFER WALL TASK:
Every offer wall has a place to track your activity history, like what offer you clicked, what offer you completed and did you receive credit or not. Every time you're about to do an offer, after entering that offer (usually when you click an offer, a small panel about what offer is appears, there will be a button name 'continue' or 'go to offer', after you click that button, you're entering the offer), make sure that offer appears in your history tab of that offer wall. This will enable you to request support in case you complete the offer and have not received credit yet. If it does not appear in the history list, you will not be credited for that offer, so try to click it again.
To find the history tab, after entering offer wall, you will need to find a button named 'My coin', 'My history', 'Support', or button with question mark,... That button should be easy to be found.
Try to surf around to find the offer wall and site having the highest paying rate for the offer, as the same offer will appear in many offer walls and sites.
When you're about to start to do an offer of installing app (especially game), try to read the comment in appstore/playstore to see whether the offer's requirements can be easily to fulfill or not. For example, the requirements are: 1. install game, 2. open it, 3. reach level 30; and you find some comment about cannot reach level 25, or it takes months to reach level 29, then skip that offer, it's not worth the try.
III. PAY TO SEARCH
You can earn nearly passive income from this type of task. They will give you some query, you will search with that query, entering determined site, leaving that site opened for couple of minutes. Pros: - It's super easy to do. - While leaving the site open, you can do any other thing you want, like doing some micro-tasks. - The paying rate is quite good, especially when you will not need to do much. Cons: - The number of queries is not very high. 1-SerpClix In order to receive more queries to search, make sure to leave the site open and allow the notification. Even though SerpClix recommends you to click on the page, don't do that, just using scrollbar. SerpClix will automatically navigate to sub page of that page. Another suggestion here is to install adblock extension, because SerpClix will ban you if you click on any ads on the page, so blocking them before hand is a good move. Here your registration links: ref-link and no-ref
Probably all offer walls have some kind of surveys there, some surveys are only available through offer walls, some have their own sites. By using their own sites will not guarantee that you will have higher payout though. Make sure to be honest when doing survey, despite the fact that you will sometime be disqualified from the survey. There's many reasons why you are disqualified, like because your job is not suitable, your demography is not their target, your answer is not persistent,... BE CAREFUL, they will keep track of you, even if you clear your cookie, so being dishonest can lead you to be banned from their sites. Again, BE HONEST, and there will be suitable surveys for you. There will be two types of survey for you: the first one is filling form and selecting answer from their suggestion, the second one is to talk with them directly or via Video call apps. The second one has much much higher earning but the requirement is also higher too. Pros: - Easy to do, just being honest - High payout, especially with the second type of survey. - Some survey only need 5 minutes to complete with good payout. Cons: - Some survey can take about 30 minutes to complete, so make sure that you have enough free time. - You will be disqualified if your information is not suitable to their survey's target. BUT ALWAYS BE HONEST. 1-SurveyTime One of the best sites out there, my favorite one. They will instantly send you $1 or $0.5 (depend on survey) to your PayPal or Coinbase account when you complete the survey, so no minimum required to withdrawal. The survey you will do here is the first type, filling in the form and selecting answer. You can register with SurveyTime through some offer walls, as they will give you some more coins when you complete the survey, but make sure to check their's conditions. Make sure to turn on Browser notification and Email notification so that you don't miss any survey. Registration links: no-ref 2-Respondent You will need a microphone and/or webcam (built-in or external) as the survey in Respondent is conducted via video calls, phone calls, in-person discussions. Of course, you will receive a huge credit for doing survey here, from $5 up-to $1000. This's a great deal, one successful survey can get you more credit than doing hundreds of micro-tasks. Don't miss this site. They will recommend suitable survey for you, but if you want to view all available survey, make sure to uncheck the 'Recommended' option in Filter panel. Here're your registration links: ref-link and no-ref NOTE FOR SURVEY TASK:
sometime, they will provide the must-select answer in the question to test if your attention. Make sure to read the question carefully. For example, the question is "Do you agree that 1 + 1 = 2? Select option [I do not agree] in the answer", if you select [I agree], you fail.
BE CAREFUL - BE HONEST
When you're doing the first type survey (filling form, selecting answer), be careful not to install any app, or download any thing, or upload your social data file when asked. In that case, just contact survey site support and report it.
It's better to use many different survey sites to maximum the number of surveys you receive.
Last word, BE PATIENT - earning online can be a little hard in the beginning. Feel free to share your experience when using beermoney sites (and your referral link too :D) or ask question about any beermoney sites by creating new post. Also creating new post when you know that any site is scam or becomes scam. P.S 1: In case you need a Crypto wallet, you can use Coinbase, registration links: ref-link and no-ref, or Binance ref-link and no-ref. You can read here for the comparison between Coibase and Binance P.S 2: You can add some email addresses to PayPal account, so you can use many email address to register to beermoney sites if you want P.S 3: If you're confident with your English, and have a computer, microphone and webcam, you can try Usertesting site, you will visit a website that requires you to test, talk about your experience of using that site Here is the link: no-ref
How to make money with cryptocurrencies: xFaucet Multicoin
A new multifaucet site is appearing in the crypto universe. We will explain how to make money with cryptocurrencies thanks to xFaucet! The site that we are going to describe in this article consists of 7 Faucets connected to the following cryptocurrencies: Bitcoin, Ethereum, Dogecoin, Litecoin, Bitcoin Cash, Dash and Digibyte. Each wallet address must be registered on FaucetPay to which the prizes of the related claims will be sent in real time. Below we will explain how to make money with cryptocurrencies on xFaucet. The xFaucet and Home buttons / links at the top left of the main page take you directly to the home page. Refer will only work after running the first claim (your referral link will appear) while Links recommends some trending sites. Under your referral url there is the "Our Banners" button which will display a good list of very useful banners to insert on your site. The Claim to be executed is divided into 2 parts: an hCaptcha and an antibot links. Once completed, you will need to wait 5 minutes before proceeding to the next. At the bottom of the page, your Referral URL will finally be visible, which will make you earn 20% on each Claim executed by your subscribers. As previously anticipated, returning to the Home you can choose to make claims among six other cryptocurrencies. Do not forget to always use a wallet previously registered on the FaucetPay online MicroWallet. On FaucetPay you can enter and register more than one wallet for each cryptocurrency. We take this opportunity to advise you to visit and subscribe to our Facebook page and our Telegram channel in order to stay up to date on news, airdrops and new faucets. See you at the next article dedicated to faucets! If you liked this article and would like to contribute with a donation: Bitcoin: 1Ld9b165ZYHZcY9eUQmL9UjwzcphRE5S8Z Ethereum: 0x8D7E456A11f4D9bB9e6683A5ac52e7DB79DBbEE7 Litecoin: LamSRc1jmwgx5xwDgzZNoXYd6ENczUZViK Stellar: GBLDIRIQWRZCN5IXPIKYFQOE46OG2SI7AFVWFSLAHK52MVYDGVJ6IXGI Ripple: rUb8v4wbGWYrtXzUpj7TxCFfUWgfvym9xf By: cryptoall.it Telegram Channel: t.me/giulo75 Netbox Browser: https://netbox.global/PZn5A Horizen Faucet: https://getzen.cash/auth/register?ref=153228
Complete in all its parts but also colorful, lively and fun to use. With More Money it is a pastime to make money with Bitcoins. More Money has a classic structure, very similar to that seen in BitsFree, Doge BitsFree and ClaimBits. The crypto internal to the faucet is the Bit. The personal skin makes it more pleasant to use and the presence of well-arranged banners eliminates the often intrusive pop-up pages. More Money is the ideal site for making money with Bitcoins. Making money with Bitcoins After logging in, you will find yourself in the Dashboard, which can be called up thanks to the button at the top left. The main menu is located at the top of the page and is divided into the following items: - Earn BTC, which collects all the earning methods. The main faucet claim, the shortlinks, the PTC ads, the social tasks (Jobs), the referrals section (15% bonus on each claim of its subscribers), the Investment Game created on the calls and puts on Bitcoin, the objectives ( Achievements) to be achieved linked to greater use of the site and the bonus Coupons to be redeemed that will be sent occasionally via email. - Offers, which includes surveys, extra tasks, various subscriptions to obtain in exchange a certain number of Bits to be subsequently converted into Bitcoin - Contests, the rankings of the competitions relating to the largest number of users who managed to register (Referrals), the Shortlinks performed and the Offers completed. - Lottery, the faucet's internal lottery. The cost of a ticket is currently set at 100 Bits. - Membership, the various levels of membership. In addition to the basic one, there are 3 other levels available to which you can subscribe upon payment of a - not even very high - amount of Bitcoin. - Stats, contains the statistics relating to their claims and those of referrals; reports all the activities carried out on the site, the ranking of the most operational users and the history of transfers to the outside and of deposits. The side menu of More Money On the left there is a list of options, activities and general references to the sections just described. It starts with your nick, where there is the Edit button by means of which you can enter or modify the personal wallet in which to transfer the Bitcoins earned. More Money also supports the FaucetPay microWallet. Going down you will see the balance in Bits; the level of membership (there is a link that refers to the Membership section) and its expiration date; the Bitcoin value of the Bits earned; the number of referrals (there is also a direct button here) the Changelly Instant Exchage, useful for converting and buying cryptocurrencies in real time (before using it we recommend studying its features: https://changelly.com/); buttons to transfer and deposit funds; the Advertising section that allows you to advertise your site using the internal platform: the minimum deposit is 25,000 Satoshi; links for technical support that refer to 3 of the most famous forums in the cryptocurrency sector. At the bottom right, next to the floating Chat button, you can see the menu that includes the FAQ, the contact form with support and all the Bitcoins that More Money has sent to its subscribers! See you at the next Faucet! If you liked this article and would like to contribute with a donation: Bitcoin: 1Ld9b165ZYHZcY9eUQmL9UjwzcphRE5S8Z Ethereum: 0x8D7E456A11f4D9bB9e6683A5ac52e7DB79DBbEE7 Litecoin: LamSRc1jmwgx5xwDgzZNoXYd6ENczUZViK Stellar: GBLDIRIQWRZCN5IXPIKYFQOE46OG2SI7AFVWFSLAHK52MVYDGVJ6IXGI Ripple: rUb8v4wbGWYrtXzUpj7TxCFfUWgfvym9xf By: cryptoall.it Telegram Channel: t.me/giulo75 Netbox Browser: https://netbox.global/PZn5A Horizen Faucet: https://getzen.cash/auth/register?ref=153228
Bitcoin faucets are websites or applications that offer you a small amount of bitcoin as a reward for making easy tasks. Depending on the selected faucet, users can earn coins for completing various tasks, such as viewing certain websites, watching ads, entering a captcha, or playing a game. by StealthEX At the beginning of the cryptocurrency’s existence, when the stakes were not so high, the creators of faucets gave 5 bitcoins for each claim — back then it was their way to promote digital money among newcomers. Now faucets operate with much smaller amounts and give out some part of the Bitcoin, which is measured in Satoshi(named after the creator of Bitcoin). Satoshi is the smallest possible fractional number of Bitcoin — one BTC is equal to 100 million Satoshi. If you have ever left a water tap not completely closed, you probably noticed that water was dripping into it, and if you put a bowl under it, sooner or later it will be filled. Even though one-time payments on faucets are scanty, many advise not to neglect the opportunity to earn on them, because, with the right approach, faucets can bring a tangible profit with a minimum of effort. There are plenty of sites offering free bitcoins. Unfortunately, most of them are not trustworthy, do not live long, or are simply overflowed with annoying flashing ads. However, there are some that work for many years, used by thousands of users and considered reliable. Here is the list of them:
This faucet is probably the most well-known one. It was created in 2013 on the territory of the British Virgin Islands. Payouts are not fixed and vary for each claim. You can get cryptocurrency every hour, and for each claim you get from 0.00000030 to 0.03 BTC. In addition to the faucet, Freebitcoin allows you to earn in other ways — save interest on your deposit, play the lottery, invite new users via referral links. It supports several withdrawal methods: you can set up automatic withdrawal every Sunday, slow withdrawal every 6–24 hours, or use the fastest instant withdrawal that takes 15 minutes. The last one, of course, has the highest fee.
Founded in 2015, the Moon Bitcoin has a certain user base and is considered by many to be one of the best faucets in existence. There are many appealing bonus offers. For example, the site gives you a reward for consistency — if you enter a captcha at least once every day, you will accumulate a bonus +1% to earnings daily. Like most other faucets, Moon Bitcoin offers a bonus for bringing new users. Earned funds are instantly transferred to the linked Coinpot wallet. The minimum withdrawal amount is 10,000 Satoshi if you agree to pay the fee. Or wait until it’s going to be over 50,000 Satoshi on your account and withdrawal money for free. It is worth saying that Coinpot has its own bonus program. For example, for one captcha entry, you get 3 Coinpot tokens that can also be converted to cryptocurrency. There are also Moon faucets for Litecoin, Dash, Bitcoin Cash and DogeCoin. All payments are concentrated in one Coinpot account.
Bonus Bitcoin is one of the oldest services and is considered one of the best bitcoin faucets. You can request a new portion of free coins every 15 minutes, getting an average of 10 Satoshi per claim. You can also gain more coins completing tasks in the offers and surveys section. Users who regularly stay active for a number of days receive an additional 5% of their daily rewards. The site also gives 50% of all fees of users you invited using referral links. Bonus Bitcoin accounts are also connected to Coinpot, a micro-earnings wallet that accumulates your payouts. The site also provides the opportunity to earn Litecoin and Dogecoin.
This is one more faucet associated with Coinpot wallet. Bitfun started its work in January 2017. In addition to the faucet itself, which allows you to request free Satoshi every 3 minutes, the site has a large number of browser games of various genres. Progress in these games gives you additional earnings. You can also earn coins by completing offers. As with Bonus Bitcoin, the user receives 50% of the fees of their referrals.
The service was launched in 2018 and has become known as one of the best free bitcoin generators. There are several ways to claim Satoshi. In addition to the faucet, you can also earn bitcoins by watching videos, clicking on ads, and playing browser games. Here you can make claims once every 12 hours and get a certain number of Coins to your account. Coins are the inner currency of this service, 10000 Coins worth 1$. It converted to Satoshi at the time of withdrawal. Rewards can be collected at FaucetHub, another web wallet for micropayments, in this case, the withdrawal limit is 35,000 Coins. For amounts over 100,000 Coins, withdrawals can be made directly to your bitcoin wallet. Or you can keep Coins at the site and earn 5% interest. Users can earn a loyalty bonus, by claiming rewards every day. Bringing another user via referral link gives you 25% of their claims and 10% of their offer earnings.
PentaFaucet is one of the oldest and most stable bitcoin faucets today. The main difference from similar websites is that the site uses double protection: captcha and anti-bot. You can collect from 5 to 25 Satoshi every 5 minutes. A reasonable amount of advertising and a simple interface make working with the faucet comfortable. The faucet does not allow you to earn money from games, surveys, and other sponsorship services. In addition to the main method, it offers only a referral program, giving 10% from earnings of each new user. Earned Satoshi are instantly transferred to the FaucetHub wallet. You can withdraw your funds from FaucetHub to your bitcoin wallet once a week on Sundays.
FireFaucet is a multi-currency automatic faucet, perhaps the best of its kind. This resource allows you to earn 9 cryptocurrencies at the same time, as well as instantly withdraw the accumulated funds to the Faucet Hub. The Auto Claim function allows for collecting currency automatically. You can change the number of currencies to get and the time between collections. FireFaucet affords many different ways to earn money: in addition to the faucet itself, there are also offers, a referral system that gives 20% from newcomer’s income, and browser mining. FireFaucet also has its own unique level system: getting XP for various actions on the site and raising their level, users receive a reward in Satoshi. As a pleasant addition, FireFaucet has a nice-looking design and does not use pop-up ads.
This bitcoin faucet does not require registration. All you need is the public address of your BTC wallet. Users can claim Satoshi every hour, getting from 5 to 1200 each time. At the moment DailyFreeBits is using the FaucetHub wallet we are already familiar with. The resource offers a referral reward. By inviting new users to the website, you can regularly receive 10% of their earnings. These are probably the best bitcoin faucets at this point. Do not expect that you will earn loads of money just using faucets, but it is with no doubt an interesting and easy way to get a certain portion of free Satoshi and learn how the cryptocurrency and various wallets work. Always be careful and study every site that is claimed to be a Bitcoin faucet with some scepticism. Always be critical of your choice and read reviews. Original article was posted onhttps://stealthex.io/blog/2020/05/28/best-bitcoin-faucets/
Lastupdated2018-01-29 This post is a collaboration with the Bitcoin community to create a one-stop source for Lightning Network information. There are still questions in the FAQ that are unanswered, if you know the answer and can provide a source please do so!
Lightning Network White Paper - The protocol has changed since this original paper, but covers the mid-level mechanics of the Lightning Network with an emphasis on the smart contracts that make it trustless
If you can answer please PM me and include source if possible. Feel free to help keep these answers up to date and as brief but correct as possible
Is Lightning Bitcoin?
Yes. You pick a peer and after some setup, create a bitcoin transaction to fund the lightning channel; it’ll then take another transaction to close it and release your funds. You and your peer always hold a bitcoin transaction to get your funds whenever you want: just broadcast to the blockchain like normal. In other words, you and your peer create a shared account, and then use Lightning to securely negotiate who gets how much from that shared account, without waiting for the bitcoin blockchain.
Is the Lightning Network open source?
Yes, Lightning is open source. Anyone can review the code (in the same way as the bitcoin code)
Who owns and controls the Lightning Network?
Similar to the bitcoin network, no one will ever own or control the Lightning Network. The code is open source and free for anyone to download and review. Anyone can run a node and be part of the network.
I’ve heard that Lightning transactions are happening “off-chain”…Does that mean that my bitcoin will be removed from the blockchain?
No, your bitcoin will never leave the blockchain. Instead your bitcoin will be held in a multi-signature address as long as your channel stays open. When the channel is closed; the final transaction will be added to the blockchain. “Off-chain” is not a perfect term, but it is used due to the fact that the transfer of ownership is no longer reflected on the blockchain until the channel is closed.
Do I need a constant connection to run a lightning node?
Not necessarily, Example: A and B have a channel. 1 BTC each. A sends B 0.5 BTC. B sends back 0.25 BTC. Balance should be A = 0.75, B = 1.25. If A gets disconnected, B can publish the first Tx where the balance was A = 0.5 and B = 1.5. If the node B does in fact attempt to cheat by publishing an old state (such as the A=0.5 and B=1.5 state), this cheat can then be detected on-chain and used to steal the cheaters funds, i.e., A can see the closing transaction, notice it's an old one and grab all funds in the channel (A=2, B=0). The time that A has in order to react to the cheating counterparty is given by the CheckLockTimeVerify (CLTV) in the cheating transaction, which is adjustable. So if A foresees that it'll be able to check in about once every 24 hours it'll require that the CLTV is at least that large, if it's once a week then that's fine too. You definitely do not need to be online and watching the chain 24/7, just make sure to check in once in a while before the CLTV expires. Alternatively you can outsource the watch duties, in order to keep the CLTV timeouts low. This can be achieved both with trusted third parties or untrusted ones (watchtowers). In the case of a unilateral close, e.g., you just go offline and never come back, the other endpoint will have to wait for that timeout to expire to get its funds back. So peers might not accept channels with extremely high CLTV timeouts. -- Source
What Are Lightning’s Advantages?
Tiny payments are possible: since fees are proportional to the payment amount, you can pay a fraction of a cent; accounting is even done in thousandths of a satoshi. Payments are settled instantly: the money is sent in the time it takes to cross the network to your destination and back, typically a fraction of a second.
Does Lightning require Segregated Witness?
Yes, but not in theory. You could make a poorer lightning network without it, which has higher risks when establishing channels (you might have to wait a month if things go wrong!), has limited channel lifetime, longer minimum payment expiry times on each hop, is less efficient and has less robust outsourcing. The entire spec as written today assumes segregated witness, as it solves all these problems.
Can I Send Funds From Lightning to a Normal Bitcoin Address?
No, for now. For the first version of the protocol, if you wanted to send a normal bitcoin transaction using your channel, you have to close it, send the funds, then reopen the channel (3 transactions). In future versions, you and your peer would agree to spend out of your lightning channel funds just like a normal bitcoin payment, allowing you to use your lightning wallet like a normal bitcoin wallet.
Can I Make Money Running a Lightning Node?
Not really. Anyone can set up a node, and so it’s a race to the bottom on fees. In practice, we may see the network use a nominal fee and not change very much, which only provides an incremental incentive to route on a node you’re going to use yourself, and not enough to run one merely for fees. Having clients use criteria other than fees (e.g. randomness, diversity) in route selection will also help this.
What is the release date for Lightning on Mainnet?
Would there be any KYC/AML issues with certain nodes?
Nope, because there is no custody ever involved. It's just like forwarding packets. -- Source
What is the delay time for the recipient of a transaction receiving confirmation?
Furthermore, the Lightning Network scales not with the transaction throughput of the underlying blockchain, but with modern data processing and latency limits - payments can be made nearly as quickly as packets can be sent. -- Source
How does the lightning network prevent centralization?
How would the lightning network work between exchanges?
Each exchange will get to decide and need to implement the software into their system, but some ideas have been outlined here: Google Doc - Lightning Exchanges Note that by virtue of the usual benefits of cost-less, instantaneous transactions, lightning will make arbitrage between exchanges much more efficient and thus lead to consistent pricing across exchange that adopt it. -- Source
How do lightning nodes find other lightning nodes?
Does every user need to store the state of the complete Lightning Network?
According to Rusty's calculations we should be able to store 1 million nodes in about 100 MB, so that should work even for mobile phones. Beyond that we have some proposals ready to lighten the load on endpoints, but we'll cross that bridge when we get there. -- Source
Would I need to download the complete state every time I open the App and make a payment?
No you'd remember the information from the last time you started the app and only sync the differences. This is not yet implemented, but it shouldn't be too hard to get a preliminary protocol working if that turns out to be a problem. -- Source
What needs to happen for the Lightning Network to be deployed and what can I do as a user to help?
Lightning is based on participants in the network running lightning node software that enables them to interact with other nodes. This does not require being a full bitcoin node, but you will have to run "lnd", "eclair", or one of the other node softwares listed above. All lightning wallets have node software integrated into them, because that is necessary to create payment channels and conduct payments on the network, but you can also intentionally run lnd or similar for public benefit - e.g. you can hold open payment channels or channels with higher volume, than you need for your own transactions. You would be compensated in modest fees by those who transact across your node with multi-hop payments. -- Source
Is there anyway for someone who isn't a developer to meaningfully contribute?
Sure, you can help write up educational material. You can learn and read more about the tech at http://dev.lightning.community/resources. You can test the various desktop and mobile apps out there (Lightning Desktop, Zap, Eclair apps). -- Source
Do I need to be a miner to be a Lightning Network node?
Do I need to run a full Bitcoin node to run a lightning node?
lit doesn't depend on having your own full node -- it automatically connects to full nodes on the network. -- Source LND uses a light client mode, so it doesn't require a full node. The name of the light client it uses is called neutrino
How does the lightning network stop "Cheating" (Someone broadcasting an old transaction)?
Upon opening a channel, the two endpoints first agree on a reserve value, below which the channel balance may not drop. This is to make sure that both endpoints always have some skin in the game as rustyreddit puts it :-) For a cheat to become worth it, the opponent has to be absolutely sure that you cannot retaliate against him during the timeout. So he has to make sure you never ever get network connectivity during that time. Having someone else also watching for channel closures and notifying you, or releasing a canned retaliation, makes this even harder for the attacker. This is because if he misjudged you being truly offline you can retaliate by grabbing all of its funds. Spotty connections, DDoS, and similar will not provide the attacker the necessary guarantees to make cheating worthwhile. Any form of uncertainty about your online status acts as a deterrent to the other endpoint. -- Source
How many times would someone need to open and close their lightning channels?
You typically want to have more than one channel open at any given time for redundancy's sake. And we imagine open and close will probably be automated for the most part. In fact we already have a feature in LND called autopilot that can automatically open channels for a user. Frequency will depend whether the funds are needed on-chain or more useful on LN. -- Source
Will the lightning network reduce BTC Liquidity due to "locking-up" funds in channels?
When setting up a Lightning Network Node are fees set for the entire node, or each channel when opened?
You don't really set up a "node" in the sense that anyone with more than one channel can automatically be a node and route payments. Fees on LN can be set by the node, and can change dynamically on the network. -- Source
Can Lightning routing fees be changed dynamically, without closing channels?
Yes but it has to be implemented in the Lightning software being used. -- Source
How can you make sure that there will be routes with large enough balances to handle transactions?
You won't have to do anything. With autopilot enabled, it'll automatically open and close channels based on the availability of the network. -- Source
How does the Lightning Network stop flooding nodes (DDoS) with micro transactions? Is this even an issue?
Vertnode - An automated solution for installing Vertcoin node(s) on Single Board Computers
Hello Vertcoin Community, Eager to contribute to the Vertcoin Community I began creating step by step walkthrough guides on how to get a Vertcoin node up and running on a Raspberry Pi, Raspberry Pi Zero and Intel NUC. Along with information to get a Vertcoin node up and running was also optional steps to install p2pool-vtc. I decided that while this step by step guide might be helpful to a few, a setup script may prove to be useful to a wider range of people. I have this script to a point where I think it may be productive to share with a bigger audience, for those who are brave and have this hardware sitting around or like to tinker with projects; I invite you to test this setup script if you are interested, if you run into errors any sort of verbose console output of the error proves to be extremely helpful in troubleshooting. The script was designed to produce a “headless” server... meaning we will not be using a GUI to configure Vertcoin or check to see how things are running. In fact, once the server is set up, you will only interact with it using command line calls over SSH. The idea is to have this full node be simple, low-power, with optimized memory usage and something that “just runs” in your basement, closet, etc. Why run a headless node on a Single Board Computer?
You want to support vertcoin. Running a node makes the network more robust and able to serve more wallets, more users, and more transactions.
You are building or using applications such as mining that must validate transactions according to vertcoin’s consensus rules.
You are developing vertcoin software and need to rely on a vertcoin node for programmable (API) access to the network and blockchain.
The idea is to have this full node be simple, low-power, with optimized memory usage and something that “just runs” in your basement, closet, etc. Required: USB Flash Drive 6GB - 32GB Please note that the script was designed for Single Board Computers first and looks for an accessible USB Flash Drive to use for storing the blockchain and swap file, as constant writing to a microSD can degrade the health of the microSD. Supports
Raspberry Pi 3 B+ | ARM Cortex-A53 1.4GHz | 1GB SRAM |
Raspberry Pi Zero (W) | Single Core ARMv6 1 Ghz | 433MB RAM |
All of the hardware listed above is hardware that I have personally tested / am testing on myself. The plan is to continue expanding my arsenal of single board computers and continue to add support for more hardware to ensure as much compatibility as possible. Functionality
Installs Vertcoin full node to Single Board Computer
Installs p2pool-vtc (Optional)
Installs LIT and LIT-AF (Optional)
It is worth noting that LIT can be ran with multiple configurations, the ones displayed in the Post Installation Report reflect values that run LIT with the Vertcoin Mainnet. Please be aware that the Vertcoin Testnet chain has not been mined 100% of the time in the past, if you make transactions on the Vertcoin testnet that do not go through it is likely because the chain has stopped being mined. BE CAREFUL WITH YOUR COINS, ONLY TEST WITH WHAT YOU ARE OKAY WITH LOSING IF YOU USE THE MAINNET.
Recommended: Use Etcher to install the chosen OS to your microSD card / USB flash drive.
If you intend on installing Ubuntu Server 16.04 to your Intel NUC please use Etcher to install the .iso to your USB flash drive. https://etcher.io/ PLEASE NOTE THIS SCRIPT MAY GIVE AN ERROR. THIS IS THE NATURE OF TESTING. PLEASE REPORT YOUR ERRORS IF YOU WANT THEM TO BE FIXED/RESOLVED. THANK YOU FOR BETTERING THE DEVELOPMENT OF THIS SCRIPT.
You can use different clients to ssh into your node. One option is using PuTTY or Git Bash on Windows which is included in the desktop version of Git. If you are using Linux you can simply open a new terminal window and ssh to the IP address of your node (hardware you intend installing the Vertcoin node on). You will need to know the IP address of your node, this can be found on your router page. ssh 192.168.1.5 -l pi For example, this command uses ssh to login to 192.168.1.5 using the -l login name of pi. The IP address of your node will likely be different for you, in this example I am logging into a Raspberry Pi which has a default login name of pi. A brief list of commands that can be used to check on the Vertcoin node status: vertcoin-cli getblockchaininfo | Grab information about your blockchain vertcoin-cli getblockcount | Grab the current count of blocks on your node vertcoin-cli getconnectioncount | Grab the current count of connections to your node. A number of connections larger than 8 means that you have incoming connections to your node. The default settings are to make 8 outgoing connections. If you want incoming connections please port forward your Raspberry Pi in your Router settings page. vertcoin-cli getpeerinfo | Grab the information about the peers you have connected to / are connected to vertcoin-cli getnettotals | Grab network data, how much downloaded/upload displayed in bytes tail -f ~/.vertcoin/debug.log | Output the latest lines in the Vertcoin debug.log to see verbose information about the Vertcoin daemon (ctrl+c to stop) Thank you to all who have helped me and inspired me thus far, @b17z, @jamesl22, @vertcoinmarketingteam, @canen, @flakfired, @etang600, @BDF, @tucker178, @Xer0 This work is dedicated to the users of Vertcoin, thank you for making this possible. 7/20/2018 Thank you @CommodoreAmiga for the incredibly generous tip <3 You can reach me @Sam Sepiol#3396 on the Vertcoin Discord, here on reddit or @ [email protected]
Earn Bitcoins like a pro - 6 different ways to get BTC
Would you like to learn how to earn Bitcoin from home? Don’t we all! Over the years we’ve found several opportunities to get BTC airdrops. All you need to know is where to find them and how to make use of them. We all love Bitcoin airdrops, BTC giveaways and to earn extra cash with crypto.
What is Bitcoin?
Previously we covered the meaning and history of BTC in a blog. But in short we can state: Bitcoin is a cryptocurrency, a form of digital money. “It’s a decentralized digital currency without a central bank or single administrator that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries” Or how Andreas Antronopoulus likes to call it “The internet of money”
How to earn Bitcoin online
There are several ways you can earn Bitcoins on the internet. We created a list for you, starting with the most easy ones. Are you ready to start earning BTC?
Get BTC with faucets
Possibly you’re wondering, what is a faucet? “A device that controls the flow of liquid, mainly water, from a pipe” With cryptocurrency this usually means that you get a controlled micro amount of free coins in your wallet at a predetermined interval. As an example, you can receive free 0.0001 DASH in your wallet every day. Even though that might sound like it’s not worth it. Why would you turn down free Bitcoins? In the early days of Bitcoin, this was a popular concept. Just like the crypto airdrops we know today, BTC was a new concept and the community was trying to create brand awareness and get more people exited about Blockchain and Bitcoin. So several core developers, sites and organisations started BTC faucets and slowly dripping satoshi’s into people’s wallets. However, this concept is still alive today. Find out 5 more ways to get BTC: https://blogs.airdropalert.com/earn-bitcoin-btc-airdrops-like-a-pro/
Erowid, a non-profit drug educational organization, gives a detailed look at how they used Bitcoin as a source of donations since March 2011
I recently sent Erowid a question about their Bitcoin donations (the quoted parts) and I got an extremely detailed reply about their history with Bitcoin donations. Thought I would share. But first, here is a link for donating with a wide range of crypto-currencies.
Thanks! We really appreciate it. Bitcoin is one of the most useful and interesting new payment systems since zero-fee paypal in 1999, which has ended up nothing at all like it started. It's now a very useful email-address-based gateway to the giant international VISA/MC conglomerate. It's a handy system, but that whole transaction skimming conspiracy is a little disturbing, costly, and monopolistic.
I was looking at your address and see that it is only a month old, yet you have been accepting Bitcoin since Mar 2011. In the spirit of openness I'm curious about why you changed addresses and
Many Bitcoin advocates and technologists state that a new address for every transaction is actually the right way to improve privacy and to firewall tracking of payments and transactions. I believe that viewpoint is kind of the opposite of openness, it is based on trying to keep people's transactions more private, despite the entire BTC blockchain database being fully public and exposed. I spent some time a couple years ago trying to get a server-based wallet set up that would generate a new address for each transaction and it wound up being a lot harder than I could get working reliably. The more unique addresses, the less erowid donors are tied together, thus a little more privacy. We will try again at some point. Currently, we keep a local bitcoin wallet and backups and rotate the BTC addresses every month or three, depending on a variety of factors.
and how much you received on your previous ones. Also I would like to know if you hold a fraction of Bitcoin or convert all to fiat directly.
At the moment, I can give you a rough outline of how we choose when to sell bitcoins. It different than people who are on the buying end. We have always conceived of BTC as 'micro donations', but some number of people over the years (let's say 30) have asked directly to pay for a membership with BTC instead of other methods. In order for that to make sense as an organization, we need to convert those bitcoins around the time of the donation so that the donation in bitcoin results in the amount near the dollar value that the donor was offering. So, for a t-shirt that might be a $45 donation. If/when that happens, we transfer the appropriate number of bitcoins out on or near that day to convert BTC into USD. Then we can enter that person's donation into our donation system and the accounting matches up: person gets a $45 membership, we get $45 into our bank account. Accounting is fun! :\ Further, because we are entirely a donation-based non-profit, we are always in the position of trying to have BTC donations be of non-zero USD value to the organization. That means selling them at some point. The question of when to sell them is obviously complicated. One can view BTC as a deflating currency or an investment or a security or maybe a commodity. We are generally conservative about them and have mostly sold the BTC we've received within a few months of their donation in order to generate USD for the organization. So, say we got 1 bitcoin 2 years ago when they were worth $30 each. If it wasn't tied directly to getting a sweatshirt or otherwise needed to wind up as a row in our banking records, I would hold onto to the coin and wait for a time when the value of BTC was going upwards and sell that bitcoin for more than it was worth when we received it. But I did not hold onto them for years, since that defeats the purpose of supporting the organization and it locks up the bitcoin trading market if everyone holds and never sells. However, the goal is always to wind up with money in the bank sooner rather than later, since we run a business. As far as previous addresses go, I believe that the reasoning behind the privacy concept is NOT to give out previous addresses, though obviously it's a tiny figleaf. We sold 1 BTC last week when the value hit $500 and another this week when the value hit $600 and will probably sell again if the price continues to rise. If I had a completely configurable trading system, I would likely set a sell order for 1BTC at $675 OR sell 0.5 BTC in 14 days if the price is >= $600. My reality is that I have to make the sales manually, because I don't have a reliable trading site that delivers to my US bank. The vast majority of total bitcoins we've sold were sold for under $30 a piece. When we opened our first bitcoin address to check out the system, The Faucet gave me 1 BTC just to help get the ball rolling. Obviously such things no longer exist and we're in a period where bitcoins are both volatile AND valuable. We had one donor give us some bitcoin back in early December and requested we wait to sell it until it hit $1200, but ALSO required that we open a separate account at a bitcoin trading company that took two weeks to complete as the company confirmed our banking information and identity, etc. By the time we'd gotten the new account set up, we were well into the price crash and so we are holding onto that bitcoin for some future price that is closer to what the person donated it at. On the other hand, we received several BTC last september when they were in the 100-200$ range and we sold all of those at between $800 and $1200 each in late november and early december as the price was running up. That was actually during the fall of MtGox who was our only trade location until October, 2013. I had initiated a sale of two bitcoins in early September and six weeks later, MtGox had not deposited the money in our account and had no estimate for when they would do it. Happily, they credited my account the USD, I bought BTC, and moved them back to an offline wallet. I'm not sure how to be both transparent AND private, but I can tell you the current address is typical of better months from the last year. We currently get a few hundred dollars a month in BTC, unless we're doing a big fundraising push, in which case we get double or triple that. With the price increase in the last 14 days, May was a good month. Happy to answer more questions and chat about how we manage bitcoin, but the main concepts to keep in mind are : trying to limit the exposure of blockchains for privacy reasons, trying to optimize for USD coming into our budget, generally being conservative so we will choose to sell rather than hold bitcoins, and having a rule of never selling all our bitcoins but selling off parts of what we receive over time to reduce risks and exposure. We currently use coinbase and bitpay, after having gone through 10 or so different BTC->USD systems. What we need is reliable and stable and most of the others have run afoul of the federal money cops in the US and have been shut down or had their banking connection shut down. I'm always interested in recommendations for other trading / sales sites, but we need one that can deposit into a US bank for it to be useful for erowid center. And we need one that is stable, represents a real business, and is unlikely to poof into a cloud of oily smoke. I see today we got a .01 and a .05 bitcoin donation to the current address, bringing our total for the last month up to .654 ish, which is great! With the price heading upwards (rather than hovering at $400), that's actually a useful amount of money. Thanks! Looking at the charts today, it seems like a lot of people decided to start selling as the price hit 650+ and so the price had a small crash today while I wasn't paying attention. Anyway, hope some of that is useful. Erowid Center's budget (income and expenditures) are all public information, but our list of donors is not and we do what we can to protect the privacy of the people who choose to support our controversial project. Thanks again for your contribution! Hurray that you didn't have to pay VISA 0.35 + 2% to do it. earth
After succesful tests, the automatic BTC to VTA converter is now in full swing. So far, 31 members have requested the BTC2VTA feature to be enabled on their online wallet address. Over 1 million VTA has already been "converted". In case you have missed what this is all about, here's a recap: Using the faucets from other cryptocoins is a great way to pump capital into Virtacoin. If we can get enough members into doing this we can make a significant contribution to the "mopping up" job. You can easily convert BitCoin to VirtaCoin using the Virtacoinwallet.eu automatic BTC2VTA converter. The automatic BTC to VTA converter will let you send BTC directly to your online VirtaCoinWallet address and receive the equivalent amount in VTA. The converter currently uses a rate of 1 Satoshi = 1 VTA; this rate may change in future. The primary use for this converter is to make easy use of BitCoin faucets, like the ones listed at http://faucets.virtacoinmall.com When it is time to withdraw from the BTC faucet or the MicroWallet you can simply put in your VTA address and be done with it. Of course you can also send BTC from other sources to the converter making it very easy to buy VTA with BTC. **IMPORTANT: Automatic conversion will ONLY work with an online VTA address from virtacoinwallet.eu AND ONLY IF IT HAS BEEN ENABLED FOR YOUR ACCOUNT !!** If you want to use the BTC2VTA converter, please send an email to [email protected] with BTC2VTA in the subject and your Virtacoinwallet address in the body of the email. I will then make the needed arrangements for your account. By making full use of the available BitCoin faucets and the BTC2VTA converter you will be able to earn 100000+ VTA per week. Imagine 1000 people doing that - it would generate demand for 100 million VTA per week. That level of demand is significant enough to create an upward force on VTA prices and generate attention on the crypto exchanges. John
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