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!
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Table of Contents
What exactly is SimpleBits?
SimpleBits is a GPT (“Get-Paid-To”) website that offers users a variety of ways to earn cryptocurrency. The site features a range of activities, including faucets, PTC, shortlinks, and offerwalls, all of which pay out in tokens, the primary currency of the site. You can also compete for shares of a virtual mining pool and rent virtual hardware.
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 This reward is paid out in SCoins, which can be used to post PTC ads or converted into “bound tokens” and later withdrawn.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.
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. Same applies for 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.
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 crucial to remember 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, keep in mind that it won’t replace your 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 type 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?
Can anyone join SimpleBits?
How do you contact support?
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 pocket money, SimpleBits may be a decent 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.
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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.