Bitcoin friendly services

Crypto Faucet Awards 2015

Let’s face it Crypto Faucets can be hit and miss. We’ve tested hundreds over the last few months and have come up with a robust list of sites that give good rewards, almost 100% reliability and regular consistent payouts. Grab some free crypto at our recommended faucets before everyone else joins the crypto party!

Best Bitcoin Faucets

Winner:
Moon Bitcoin – Pays out as often as you like (your total grows in between claims) Visit Site
2nd:
Bitcoin Zebra – 1k to 3k BTC satoshis every hour plus great bonus chance Visit Site
3rd:
Bitcoinker – Pays every 5 mins 1.2k to 3k satoshis Visit Site
4th:
Free Bitcoin – Every hour – chance of big bonus Visit Site
New Kid On The Block:Bonus Bitcoin – Up to 5,000 satoshi every 15 minutes plus bonus and specials Visit Site

Best Dogecoin Faucets

Winner:
Moon Dogecoin – Pays out as often as you like (your total grows between claims) Visit Site
2nd:
Free Dogecoin – Every hour – chance of big bonus Visit Site
New kid on the block:
Blue Doge – 15-700,000 doge every 30 mins Visit Site

Best Litecoin Faucet

Winner:
Moon Litecoin – Pays out as often as you like (your total grows between claims) Visit Site
2nd:
Field Litecoin – Pays out as often as you like (your total grows between claims) Visit Site

Best AudioCoin Faucet

Winner:
Free Crypto – ADC and Multi coin faucet (choose your coin) Visit Site
2nd:
Bleutrade ADC Faucet Regular ADC payouts for Bleutrade users Visit Site

Best Bitcoin Wallet

Winner:
Xapo – has quickly grown to become wallet of choice (with great mobile app) Visit Xapo

Mining Sweden – Bringing transparency to Cloud Mining

New cloud mining sites are appearing regularly. Many are looking like obvious scams. Hashocean recently launched using staff photo’s copied from another company. Multimine.net launched and seemingly disappeared within a couple of weeks.

Combine these with recent high profile failed or ponzi collapses such as Hashie, PB Mining, AM Hash, Rockminer and the future and/or reputation of cloud mining is at the lowest ebb ever. Out of all the cloud mining companies we’ve tried, only Hashnest and SCloud have stood the test of time. Even Hashnest shut down the miners for several days when BTC was hovering around the $200 mark.

Our usual advice is to make sure you undertake due diligence before investing any money in these companies. Look for contact details, transparency of ownership (very difficult to find in the crypto world), details of hardware (certified photo’s videos etc).

Once you decide to try a new cloud mining company out, invest in a starter pack up to $50 (or a free test account) and so limit your exposure as much as possible. Once payouts start make sure you check the forums and news sections to keep track of any changes in difficulty, BTC price etc.

We’ve heard good news (and also sceptical comments) about a new mining platform Mining Sweden, whcih is attempting to bring transparency and legitimacy to Cloud Mining.

The platform was launched via crypto forums hashtalk, bitcointalk and litecointalk and others. Whilst there are still questions about hardware and farm size we decided to try out Mining Sweden on a small scale and up to now payouts have been as regular as clockwork.

Mining Sweden is concentrating on SHA256 mining and pays out weekly. We’ve had 2 payments (both exactly on time) and the site is moving to daily payments at some point. The ROI from buying their VIP Shares is longer at 300+ days but they do offer a 25% share in company profits after 1 year when you buy these limited edition VIP shares.

Again – please do your own research and don’t invest money you can’t afford to lose. We’ll keep this post updated with our own progress using these sites.

Free Altcoins! – A Guide To The Best Faucets

Altcoins can be more fun and rewarding (as well as risky) than Bitcoin. There are quite a few altcoin faucets springing up and we’ve listed some below. For Bitcoin faucets please see our other guide here.

Don’t forget if you are an absolute starter you’ll need a wallet and address so you can store your coins. For altcoins you could do worst than open an account at Bleutrade and get wallet addresses provided for all your altcoins.

Free Altcoin Faucets
Site Reward Comments Rating Link
Moon Litecoin Varies You claim when you want 5 stars visitsite
Free Dogecoin Varies Up to 500000 Doge every hour! 5 stars visitsite
Moon Dogecoin Varies You claim when you want 5 stars visitsite
Field Litecoin Varies Claim every 5 minutes or you decide! 4 stars visitsite

Circle launches new Bitcoin exchange service. Time to go mainstream?

Nobody gets me Bitcoins!

Nobody gets me Bitcoins! (Photo credit: zcopley)

The recent Bitcoin conference in Amsterdam saw the launch of a new Bitcoin trading platform Circle.

With a manifesto to smooth the transition of adaptation into everyday use the website’s strapline is “Bitcoin is digital money for the modern world. We make it easy to use—instant, secure, and free. The way money should be.”

The secret here is that the site will seamlessly connect with regular debit/credit cards and handle the crypto conversions on the fly. Currently the service is free and users need to request an invite to take part. Founded by former Brightcove CEO Jeremy Allaire, Circle has already raised over $26 million in private capital,

The site has invested heavily in security and compliance regulation. A wise move with the bad press surrounding other large bitcoin exchanges. They’ve promised a $10 credit to all new users too!

Enhanced by Zemanta

CEX.IO introduces Multipool

One BTC coins

One BTC coins (Photo credit: zcopley)

Cloud BTC and conventional Scrypt (ghash.io) mining site CEX.IO have introduced multipool mining alongside their existing offering of Litecoin, Auroracoin, Feathercoin and Dogecoin.

Unlike other multipools the ghash.io system allows users to convert their block rewards profits to BTC on the fly, thus avoiding the need to exchange on cryptocurrency exchange sites.

Currently in beta, the pool has had some teething troubles with zero payouts on certain coins although the community forum explains that the beta stage will not be 100% trouble free and they are asking for bug reports.

We tried the system and liked the automatic conversion to btc. Multipools have been criticised as damaging the real world possibilities of certain coins and creating havoc with valuations but while they exist it makes sense for miners to make the most from their equipment.

Find out more at CEX.IO or read the support article.

Enhanced by Zemanta

Getting Started With Bitcoins & Litecoins

Bitcoin Miner

There are numerous guides online about bitcoin mining, equipment, mining pools etc but a lot of the information is one way. The first question should be what do you want out of bitcoin?

We’re not all geeks, the same as we’re not all investors, so I’ve broken this guide down to cater for 3 types of potential interest in bitcoin:

1. Dabbler You are interested in mining (or accumulating) bitcoins but you don’t have the time or inclination to buy equipment, compile software or really do anything too techie!

2. Techie You are comfortable with computers and want to get your hands dirty by investing in hardware, reading tech blogs and github articles on getting maximum performance from your gear. You want to be a real bitcoin miner!

3. Investor You’re a small or large investor and you just want to trade in bitcoins like any other stocks and shares.

Hopefully you’ll fit into one of those categories. If you don’t please let me know and i’ll revise this document accordingly.

THE DABBLER

So you don’t have time or can’t be bothered with the techie stuff? No problem. Cloud mining is increasing in popularity. Cloud mining websites allow you to ‘rent’ equipment or buy hashing (mining) power.

The benefits are numerous. No expensive hardware to buy or set up, no electricity costs to worry about, the potential to mine 24/7 without the stress of keeping your gear in check and also less of a worry about interruptions to your internet connection.

Sites are available that will allow you to mine SHA-256 currencies (like Bitcoin) or Scrypt based currencies (like Litecoin). It is not within the remit of this article to advise on which currencies are the most profitable to mine, but based on the mining power you buy you can use online mining calculators like the one at Coinwarz before you start out.

Keep in mind that profitability can vary depending on the current level of difficulty and the number of coins already mined (as well as market sentiment ofcourse).

cex.io is a bitcoin commodity exchange that allows you to mine bitcoins by buying (or trading) their hashing power with other users. It can be fun and rewarding if you trade at the right times. Your dashboard will show you how many coins you have accumulated in real-time. The site automatically mines Namecoins, Devcoins and IXcoins at the same time as bitcoins and you can also use your own mining hardware at their ghash.io mining pool. Litecoin, Dogecoin and Auroracoin mining are also either already running or in development. You can also buy Future Hashing Power at reduced rates to use at time triggered intervals.

Another site Hash Profit concentrates on scrypt, scrypt-N and x11/13 based currencies. Unlike cex.io the mining pools at Hash Profit are private so you can’t use your own hardware. They claim to mine the most profitable coins to maximise your return. They allow you to trade for KHS (hashing power) or simply deposit bitcoins to fund your account.

It’s worth noting that you’ll need some Bitcoins and a digital wallet to start mining on these platforms so if you don’t want to risk sites like ebay for this you can purchase bitcoins at Coinbase (US) or Bitstamp (EU).

You’ll need to provide detailed ID information to open an account at Coinbase or Bitstamp so be prepared. If you’re still keen to get involved then everything is explained in detail on the respective sites. cex.io’s guide is particularly user friendly.

THE TECHIE

Asic Miner Block Erupters and Anker Hub

Let’s face it, Geeks are the new hipsters and having your own mining farm is more impressive than owning a vintage corvette. If you want to mine SHA-256 currencies like Bitcoin and Peercoin you are going to need some powerful gear.

At the low end, ASIC USB BLOCK ERUPTER miners running at 330-336 mh/s used to be the choice for hobbyists and bedroom miners but the increasing difficulty and newer technology has lessened their appeal. Get in at the start of a new currency and these miners could still make you money. Many farms were established on these miners and multi-slot hubs supporting 7 or more miners could generate 2.5 gh/s or more.

Antminer U1

In January (2014) Bitmain’s Antminer U1’s arrived on the market. They were similar in operation to the ASIC block eruptors but crucially each could mine at up to 2.2 gh/s (the equivalent of 6 or 7 Asics). The price of the Antminer U1 (as of going to press) was around $45 (£30) – a price comparable to the ASICS in December 13. (This shows how fast technology moves and how you need to be careful with your hardware investments).

High end gear like the Antminer S1 Blade (Speed up to 200 gh/s), Butterfly Labs Monarch (600 gh/s) and KNC Miner’s Neptune (3000 gh/s) have set the standard for advance mining farms.

If you want to get started, we’d recommend the Antminer U1. They can be picked up cheaply and you only need a suitable USB hub to attach to your computer to get started.

Next you’ll need suitable software to control the actual mining. CG Miner or BFG Miner are open source projects with versions for Mac (OSX) and Windows and Linux. It should be pointed out here that you’ll need to be comfortable in the command line or Terminal (mac) to get these compiled and/or running.

If you are on a Mac you can download and get started with CG Miner here. The same page also has a GUI version of the software called Asteroid which is super simple to setup and use.

Windows users can head over to the github repository.

Another great piece of software to enable mining of SHA-256 and Scrypt based currencies and is available in all flavours (OSX, LInux and Windows) is MultiMiner. The website and installation guide is super easy to use.

For Scrypt based currencies you will need a powerful GPU in your PC, or better still build a custom rig for mining Litecoins, Dogecoin, Feathercoins etc

You can possibly use your existing graphics card but your mining power will probably be small unless you have a high end gaming computer. Top spec GPU’s to consider are the AMD Radeon R9 290X or the 7990.

Once you’ve set up your gear you’ll need to download a wallet or use an online wallet before you can start mining. These links above have downloadable wallets for LitecoinDogecoin, and Feathercoin. For Bitcoin you can download the wallet from the official site here or use an online wallet at a site like Blockchain.

Once you have downloaded your wallet you’ll need to wait for it to sync with the network. This can sometimes take a few days so be patient. Make sure you encrypt your wallet and use strong passwords (see our security guide here).

We’re nearly ready to start mining! Solo mining is unlikely to be profitable unless you have a mining farm full of mega equipment, so the best policy is to join a mining pool. Here you’ll be mining with masses of other users and you’ll find blocks easier. You point your mining equipment to your chosen pool using information supplied by the pool.

You can input this information in the terminal/command line or create a batch file to do it for you. Each mining pool has full instructions for implementation.

There are myriad mining pools. We’ve successfully used Bitminter for Bitcoins. Dogechain pool for Dogecoins and of course CEX.IO’s ghash.io for multi mining.

There’s a full comparison list of Bitcoin mining pools here. For Litecoin pools check this list.

Happy mining!

THE INVESTOR

If you simply want to trade Bitcoins on the financial markets you can do so by creating a free account at Plus500 who have a great website and mobile app so you can trade on the move.*

Bitcoin prices are very volatile so short term gains (and losses) are very possible. Before Christmas the Bitcoin price peaked at over $1000 but it is now down to around $620. Ripe for the canny investor.

We hope you’ve found this guide useful. For a full list of Cryptocurrencies visit the Bitcoin Wiki.

Please remember that the value of investments and the income derived from them can go down as well as up. Exchange rate movements can also have a positive or negative impact on the value of Non-UK investments. Past performance is not a reliable indicator of future returns and you may not get back your original investment. Generally, investments should be considered for the medium/long term.

You should weigh up factors such as the impact of any potential penalties and charges and the loss of possible benefits in circumstances where you may be considering cashing in or transferring an investment. If in doubt seek professional Financial Advice. Your capital may be at risk.

 

Where can you spend your Bitcoins?

The success of virtual currencies depends upon their widespread adoption. From accommodation, restaurants and attractions in the real world through to regular online transactions. The growth and use of bitcoins and other cryptocurrencies is beginning to take hold and a new website called bitcoin.travel is an online resource showing bitcoin friendly worldwide services.

bitcoin.travel homepage

 

CEX.io