Bitcoin Forum

I received mail yesterday from freebitco.in, here is the mail:

"Dear FreeBitco.in user,

We are excited to announce a launch of a new feature - a bitcoin savings account!

You can now earn 4.08% annual interest (paid and compounded daily) on any balance that you hold in your FreeBitco.in account, without doing anything!

All you need to do is mantain a balance of at least 30,000 satoshi (0.0003 BTC) in your FreeBitco.in account and we shall pay you compounded interest on your full balance everyday. There is no lock-in period to earn interest (you start earning interest right from the first day!) and your balance can be withdrawn any time you wish. Treat your FreeBitco.in account like an instant-access savings account to hold your excess bitcoins and earn passive interest on your account balance everyday.

Read more about this feature at https://freebitco.in/?op=home&tab=earn_btc

If you cannot remember your password, click the LOGIN button in the home page and then the FORGOT PASSWORD? link to reset your password.

FreeBitco.in - Win free bitcoins every hour, no strings attached!"


This sounds promising! I don`t know how much can this work, this way of saving. Generally I don`t like this schemes, but freebitco.in is here more then I`m, and their site was active before (I don`t know for last 6 months), can this be something good and positive?
I don`t have any coins there, but I plan to deposit some just to see does it work.
Any thoughts?

That is interesting, I wonder is there a limit to the amount of bitcoin you can store there.
They could struggle to fulfill this if you had a lot  people with a few bitcoin sitting there.
Also I am not sure on how secure they are although I have never heard anything about them being hacked or attacked and they have been around for years.

Certainly worth keeping an eye on their thread to see the feedback on this feature.

Freebitco.in site is running from long time and they are still favourite in faucet world, this is their one more step in new feature to their site, other features are lottery system, dice game. they have full details about this new option with full security and have given full detail about it.

Concerning this i receive same mail the log on my account to see this. Apparently at the end of this week it will be distributed if i got this right. Then you/me/users will have increase of 4% if balance is over 0.0003. Mine is good so far i didnt log for 2-3 weeks seem like my ref are doing good job cu i have over 0.005. Let see if this feature becomes good or bad.

The question is does the owner lowered down their house edge? well if not it is still the same as the old ones who still get high chance for us to lose in their games, They should fix that category first so that they will be trusted.

Annual = yearly. You would get 4% profit if you kept your funds there for 1 year, so it isn't that much profit. 4% a week would probably indicate that they are a scam or going to scam.

House edge has nothing to do with trust. It's stated, so if you gamble, you know what you are going in for. wetsuit probably has a low tolerance for variance, so he decided to use an high house edge.

Don't play if you don't want to.

Yes they are trusted and it is quite nice to see they are trying to offer some legit investment scheme for bitcoin holders. But personally i don't like to store bitcoin anywhere online, specially in wallet like they have where you will not have full control over your bitcoin addresses.

If anybody want to earn interest than its better to active 2FA they have.

that's the first thing to do mate, making sure that security is always activated since its your money you are staking from that site, nice idea for freebitco.in giving their members an opportunity to make some investment and make a good compounding rewards, but in the end we are still needed to invest the money that we can afford to lose.

ever since Google AdSense blocked their account and no longer allowed them to use their advertising network, they have been trying way too hard to bring in more people and make money in other ways. from the lottery to rewards and all that weird stuff.

with this, they are officially desperate for money, if you want my opinion. although kudos to them for being the oldest faucet which is still big and around.

i just hope they don't scam people and run away!

gambling site, dice site with faucet system can give return flat 4%/day(youre write about daily) but if 4%/yearly is very low  i think is not good service
because is very high return
majority in gambling site investment use bankrool system only use profit share not use return flat profit

We have always some fear about it. But you can use your faucet and gambling earnings in site to earn income from that. Or you can deposit an amount of BTCs you are afford to lose, an amount that you won't need later, like the money you use to gamble. They say the BTCs are well stored in paper and trezor wallets and all we need to do is to set a strong 2fa password...

Well it's not necessarily suspicious fortunately - this is about as high as returns can get while being legitimate.  It does say that a part of your funds is used for user payouts though.  This is extremely vague and could be indicative of a long-term Ponzi scheme - they should definitely clarify that the funds are only used to fund payouts in specified circumstances.  Freebitco.in might be quite a trusted faucet but no site is ever 100% safe and for all we know this could be a desperate plea for money before they fail.

Freebitco.in needs to be more specific about the amount of funds that are used for mining and the other things that they mentioned.

The interest rate is very low, 4% annually? Who will freeze his money in a site for 4% annually?
I think they should add more games if they want to attract new users, it is better than a low interest rate, while there are tons of investments programs that accept Bitcoin.

4% is a terrific rate, actually

absolutely, plus you'll get payout every day = compounding. AND you can always withdraw, which is a huge plus.

Uhhhh. How is this funded? How is that btc being invested? I don't think this is a good idea. This means that withdraws won't be instant?

how about you follow the link and read the terms?

Not really, wetsuit has quite a bit of BTC. He hit 2 blocks solomining recently, and has/had 100+ BTC in his personal address very recently. My guess is that the investments are being accepted to allow a larger gambling bankroll, and that Freebitco.in will be operating on a fractional reserve as it's a low chance that everyone would withdraw at the same time.

There is nothing on the page that mentions it. Why do you think I asked?

I also received this same email from them yesterday. Right now, I'm still contemplating on whether to use it and set aside my unused bitcoin there. That feature is great if you have any bitcoin that's burning a hole in your wallet. 4% is still a profit/gain in my dictionary. And also, I think, credibility and trust is not an issue here because they are in the bitcoin community for quite some time now.

This is a good feature to be implemented and I think the crypto world is ready for something like this. For those who might think its a ponzi, its not because what is being promised is achievable as what is being offered is 1.048* what ever I put in on an annual basis at the same time, the concern is where will the site get the interest to be paid?...

nice to hear this. Btw I think I've seen you in RF forum and PTC site.

an interesting feature indeed,unlike many ponzis this site has been running for too long and brings
too much of a profit to the owner to turn scam,it has a very good earning potential too
so you can see where the money are coming from
on the other hand, 4% annually is very low you could invest into dice casino bankrolls and earn much more than 4%
this one should be safer though,there is no risk for you to lose the investment body (unless you play at their dice game)

4% is an annual profit not monthly!
and that is too small a amount to evn think about investing in something that can run away. i am not saying the oldest faucet and possibly the biggest one is going to do that but in my experience investing bitcoin never ends well specially if the reward is this small.

4%  is not a big interest and in some countries, you can get 6 to 8% when you deposit money in bank. However, if the Bitcoin prices keep increasing about 100% every year, investing in freebitco.in will be much better. But, we can never trust online inestment since they can turn into scammers whenever they want. Just keep the money in your pocket and you will realize how awesome it can be

I know most people on here wouldn't want to think that such a reputable company would go out and exit scam like this, but it just seems to perfect in order to do it.

The way I see it is if the owner does some sort of marketing blitz in order to get people to join on and put all their bitcoin on here as people are getting paid from it, then later on when they scam isn't getting enough new investors to cover the old one. Boom the site gets "hacked" or some bullshit like that.


It's the perfect scam, though I hope it'll never happen to anyone that puts their money on here.

As I really do think this is a way in the right direction to investing and saving money with bitcoin.

Freebitco.in is the best faucet till now I have seen and they are paying on time for their members. When it comes to the interest that they want to pay its members on the balance they have in freebitcoi.in is quite impressive, even the % of interest is also low 4.08% that is yearly.

But my only concern is how can they get the extra income to pay interest to the members, right now they are paying to its members from advertising revenue and for the yearly interest from where they are going get.

Freebitco also the most legit faucet...even claimbtc is down so many .
I will invest it just like u invest the bankroll or support bitcoin for the owner.
4% i think they can maintain over a year.

This post has proofs of our bitcoin mining operation: https://bitcointalk.org/index.php?topic=320959.msg18109501#msg18109501

We have provided a signed message from the bitcoin address that we use for mining (both in the website and the post above) and you can actually see the money coming in from the mining that we do.

I didn't know freebitco.in  got a mining feauture, does your site accept mining investor?? Well in that case how could people get assurance to earn with investing with you? And how do you think your mining operation last?. There's so many questions crosses on my mind for now since i don't see some good credibility got your site on.

We use part of the funds that user will deposit with us to expand our mining operation. Please read the FAQ at https://freebitco.in/?op=home&tab=earn_btc, it explains everything.

if you think 4% per anno is not much... well, there's less risk than ivnesting in a bankroll for example.

I think this is not investing in bankroll, this is just like a saving with interest. I don`t know what this mean "paid and compounded daily"?
Looks like we all agree that site is trusted, and it`s ok to try it with some amount, but I wonder how big holders see this opportunity? Is this site trusted enough to deposit 10 or more bitcoins for example?
I wanted to deposit 10-20 mbtc, but with 4 % annual interest on that amount is really low.

it is investing in a bankroll for 1/3... does anyone of you ever read the terms of this, or is this just signature post farming?

Sorry to ask this:  how trustworthy is the site? How sure are you they won't dissappear with all your bitcoin after a while. I have been using their Faucet to claim some Satochi, never had any problem withdrawing however I doubt I can trust anyone with large amount of my bitcoin. I'd still rather leave the coin in my wallet to appreciate in value once a while

Goodluck to them

not sure why a faucet site will offer interest on users balance? what is the benefit of the site owner in this feature? is freebitco.in turned to HYIP now? i wonder if someone in the right mind would put their money there

Please read the actual page that you are commenting about before signature spamming.

Yeah, I aslo got this email from them this week. I was surprised to see them jumping on something about investment after many years. I didn't read fully their email. But i found it strange from them to offer investment to people. Even with a low interest rate of 4%. 2 times more than a saving account in my country still  ;D

There is no guarantee about any thing here but still this is one of legit faucet here on this forum best thing they are not forcing any one to invest just enjoy your stuff and not withdraw your savings because minimum amount is very less just 30000 Satoshies better use this amount for more profit if you have any doubt

This thread is opened by another person, so whoever didn't see your actual thread wondering why you're offering that interest amount. You should have provided your thread URL in that post instead just commenting.

Some info can get from this thread. https://bitcointalk.org/index.php?topic=320959.2100

My opinion is 4% per annum is quite less for bitcoins and it is quite risky because they are doing mining business and we all know that it is a risky business.

Yes, seems very low. I just checked their 'interest calculator', it shows ~100 satoshi daily interest for the capital of 10mBTC. I am not sure it is a worthy returns for the risk of 10mBTC investments.

Anyway I just disabled my auto withdraw functionality so that I can maintain my earning within them to earn daily interest. We can conclude about success of this interest paying programs by watching how many people are coming into our service section with ref back offers.

it is on par with what banks offer ,if not more (in some countries) besides it is almost risk free
the only risk there is the site closing down,which is not going to happen,I hope
when the bankroll investments are risky,HYIPS are plain retarded to invest to and just keeping your coins in your wallet
doesn't bring you any profit
so its a win win situation-low risk,no need to do more than unticking  autowithdrawals enabled box
u may even consider depositing an odd coin or two if you don't use them

It's good for who has many BTCs. If you really have much money in Bitcoins you can deposit it, let generating interesting for few days, withdraw your initial investment and keep the site generating income for you with the money the site already gave to you.

This way you don't need to worry about lose your money on medium-long term, if something goes wrong you will lose only the profit, protecting the initial money this way.

apparently they looking for another way to attract more people visiting and claim the faucet and 4.08% annual interest indeed this is very low but this is realistic because currently running bitcoin faucet was very hard to get profit however rather than invest on cloud mining which offers higher profit but eventually became a scam i think this option good to considering

In banks, your money is more secure than investing in cloud mining company. There are plenty of examples we can see in this forum that these cloud mining companies can't last for long. If they are going to invest our money in these companies and if they close then as a investor you also may lose your money. I don't think it is a low-risk investment for such a low profit.

dude this is not a cloud mining company,get your facts straight (or read the topic)
this is a legit business,4 year old,it brings profit to the owner and is not a HYIP,cloudmining or scam
therefore 4% is pretty much a safe bet
freebitcoin is one of the most trusted and old faucets on the web,it has survived plenty of turmoil,while the others died like flies
so I trust the owner to not pull an exit scam on us :) and continue earning money

I dont think that it is a good idea of doing this way to earn, because what if the site breaks down and all your investment BTC are gone so for little profit you cannot risk your high investment it is better that if you go for trading in any exchange you can earn more then 10% daily without risking so much. So as per my view is not to take risk for 4% interest better go for trading and earn better.