SimpleBits Review: Is This Crypto Website a Scam? (2024 In-Depth Analysis)

Are you on the lookout for new ways to earn cryptocurrency? SimpleBits is a website that offers a variety of activities, including faucets, PTC, shortlinks, and offerwalls, all of which promise to reward users with crypto. But before you decide to invest your time and effort into SimpleBits, you might be wondering – is this website a legitimate opportunity or a scam? 

In this review, I will take a comprehensive look at SimpleBits to help you decide whether it’s a good fit for you. I’ll examine the platform’s overall legitimacy, explore the various earning methods, and explain how you can withdraw your rewards. Let’s get started!

Some of the articles on this website may include affiliate links. You can find more info in our disclaimer. 

What exactly is SimpleBits?

How can you start earning on SimpleBits?​

To begin earning on SimpleBits, you will need to register an account. During the sign-up process, you must choose a nickname and provide your email address. At the time of writing this review, it was not possible to sign up using any social media account options. Once you have completed the registration process, you can log in to the website and start earning on SimpleBits.

How do you earn on SimpleBits?​

SimpleBits offers various ways for you to earn cryptocurrency, all of which will be covered in this section of the review. The platform pays out in the form of tokens, which can later be redeemed for a cryptocurrency of your choice that is supported. 

Competing for shares of a virtual mining pool 

SimpleBits offers the opportunity to compete for shares of a virtual mining pool. By participating in activities on the site, you can earn XP and level up, allowing you to allocate points to boost your stats. These points can be used to increase your virtual “hashpower” contribution to the mining pool, which consists of three options: LTC, BTC, or ETH. 

The pool lasts for 8 hours, during which you will earn a share of the block reward based on your contribution of hashpower. This reward is paid out in SCoins, which can be used to post PTC ads or converted into “bound tokens” and later withdrawn.

Claiming a faucet every 30 minutes

SimpleBits features a faucet that allows you to earn tokens by visiting the site and clicking the faucet button every 30 minutes. This is a simple way to earn a small amount of tokens on the platform, but the faucet will not really earn you a ton. 

Renting hardware with a return on investment

SimpleBits offers you the option to rent hardware, which provides a return on investment in the form of bound tokens. These bound tokens cannot be used for further hardware rentals, but can be cashed out. There are multiple hardware options available, ranging from a 30 day duration with a 5% interest rate to a 120 day term with a 35% interest rate.

You can acquire equipment by purchasing them from the market using the currencies that can be earned by participating in various other activities on SimpleBits, and I’ll talk about them in just a moment.

Earning tokens through PTC (paid-to-click) ads and shortlinks

The platform also allows you to earn tokens by viewing and clicking on PTC ads. These ads can be found on the “PTC” tab of the site and can be viewed for a specified amount of time to earn a reward.

The same applies to shortlinks – these are shortened links that lead to a specific webpage. You earn tokens and XP by visiting and clicking on the shortlinks, which can be found on the “Shortlinks” tab of the site.

Completing offers and surveys through offerwalls

SimpleBits includes offerwalls on its website, which allow you to earn tokens by participating in surveys and completing various offers. However, you must first reach level 30 in order to unlock this feature, so unfortunately, it may take some time before you can earn crypto through offerwalls, which is something that is usually available straight away on similar websites.  

The way these work is quite simple. For surveys, you will be given various questionnaires to choose from, and you can answer them to receive a reward. In general, you’ll see in advance how much each survey pays and how much you can expect to get paid.

When it comes to length, surveys tend to be up to 30 minutes long, although longer surveys that come with higher rewards are possible as well. As you answer surveys, make sure never to rush through them and always be honest and consistent in your replies. Otherwise, you simply risk disqualification, which would result in wasted time.

Offerwalls are essentially third-party partners with whom SimpleBits has teamed up, and they are responsible for bringing you these surveys to complete. Offerwalls also include offers, which are basically a large variety of tasks that can be completed, such as playing games, downloading and testing mobile apps, signing up for other services, and more.

When selecting an offer, read through any rules and requirements carefully to ensure that you receive the promised reward upon completion. If you happen to run into any trouble, then you will have to contact the offerwall separately through whom you completed the offer.

Invite friends

Lastly, SimpleBits features a referral program, where you can earn a bonus by inviting your friends to join the platform. You will earn 10% from every offerwall reward that your referrals receive, in addition to receiving 20% from all faucet claims. However, do keep in mind that your referrals must be active users on the platform for you to benefit from this referral program.

How much money can you earn?​

The earning potential of SimpleBits is influenced by a variety of factors, including the activities you engage in and the amount of time and effort you invest in the platform. It’s important to keep in mind that the earning potential on SimpleBits is generally modest, and your earnings will likely be relatively small. While the platform can be a viable option for earning small amounts of cryptocurrency here and there, it certainly won’t replace a full-time job and the website shouldn’t be relied upon as a regular source of income. 

How do you cash out?​

To withdraw your earnings, you will first need to convert your tokens into bound tokens, which are the only types of tokens that can be withdrawn. This can be done through the exchange section of the website.

Once you have converted your tokens into bound tokens, you can request a withdrawal by navigating to the “Withdraw” tab and selecting the cryptocurrency you want to withdraw in. 

There are currently six options available: Bitcoin, Cardano, Litecoin, Dogecoin, Bitcoin Cash, and Dash. Each option has a different minimum withdrawal amount, ranging from 10,000 bound tokens (equivalent to 1 USD) to 50,000 bound tokens (equivalent to 5 USD). Please note that withdrawals are processed and sent only on weekends.

Frequently Asked Questions (FAQ)​

Is SimpleBits available on mobile devices?

There is no separate mobile application for SimpleBits. While the website is fully functional on mobile devices, the layout may not be optimized for smaller screens. This may make it slightly more challenging to navigate or complete activities on a mobile device compared to using a desktop or laptop. However, the mobile version of the website is still functional and can be an alternative way to earn tokens on the go.

Can anyone join SimpleBits?

Yes, anyone can join SimpleBits. The website is open to users from around the world and does not have any restrictions on who can join. 

Is SimpleBits safe to use?

Yes, SimpleBits is safe to use, and the platform does pay you for completing various tasks. The only thing I would recommend being careful with is the PTCs and shortlinks since those lead you to third-party websites.

How can you contact support?

You can reach SimpleBits support by sending an email to contact@simplebits.io. It seems there isn’t a separate ticket or chat system on the website itself, but you can find the FAQ section in the bottom left section of the dashboard.

Final Thoughts

So, is SimpleBits legit or a scam?

SimpleBits is a legitimate website that offers users the opportunity to earn crypto through a variety of activities. There is a decent amount of earning methods available along with multiple crypto withdrawal options. However, it is important to keep in mind that the earning potential on the platform is relatively modest, and you should not expect to earn significant amounts of money through your participation on the platform.

For earning small amounts of crypto, SimpleBits isn’t a terrible option, but if you are looking for a higher-earning opportunity or a more substantial side hustle, you may want to consider other options instead.

Many thanks for reading my SimpleBits review! Should you have any additional questions or concerns please do not hesitate to leave a comment down below.