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Simplebits.io Reviews: SCAM or LEGIT?

Simplebits.io Reviews: SCAM or LEGIT?

Simplebits is a relatively small faucet / offerwall earning site with some gamified elements – you can compete for shares of a virtual mining pool, complete surveys, or just hit a faucet every 30 minutes. While I’ve been on the site for a while, I only recently learned more about some of the more complex features, and honestly have been having a fun time as I’ve gotten more into it.

A 30 minute faucet, PTC, shortlinks, and offerwalls (including TheoremReach, my personal favorite survey provider) are all included on the site. These will all pay you out in Tokens, the primary currency of the site. 100 Tokens is worth 0.01 USD.
Tokens can be used to rent ‘Hardware’ which offer a ROI on your tokens, these produce Bound Tokens, which cannot be used for further hardware rentals, but which can be cashed out. They also provide a boost to your Mining stats, which we’ll get into a bit later.

Hardware

Simplebits Hardware Rental Options
There are four hardware options available, ranging from a 30 day duration and 5% interest rate all the way up to a 120 day term with 35% interest. From just a few hours completing surveys and hitting the faucet, I’ve already secured myself 180 Bound Tokens a day, which is 1.8 cents of income / day. No, it’s not much, but it’s extremely fun for me watching that number go up – I’m easily amused, I guess, and after the 120 days are up I’ll be able to buy myself a juicebox or two.

Withdrawl Options and Payment Proof

Simplebits Withdraw Options

There are 6 cryptocurrencies you can withdraw from, which range from a 10,000 Bound Token minimum withdrawal (or 1 USD) up to 50,000 (5 USD)

While I haven’t requested a payout yet, they do offer payment proofs, which I’ve included below. As best as I can tell, they *do* pay out, and fairly.
Payment Proofs

But wait, there’s more!

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Stats and Mining

Simplebits Mining Overview

There’s RPG elements present as well, with XP, levelling and stats. If you’ve levelled up and wish to spend your points, navigate to the ‘Stats’ tab and allocate them. You can join three different mining pools, LTC, BTC, or ETH, and contribute virtual ‘hashpower’ determined by your stats to them which earn you a share of the block reward. Each block lasts 8 hours, and pays out rewards in SCoins – which can be spent on posting PTC ads, or converted into Bound Tokens and then withdrawn.
Check out the Exchange section on the left side if you’re confused how to convert Tokens or SCoins into Bound Tokens.

'Mining' interface overview

There are some easy to understand metrics at the top, such as total pooled power, block reward, and your share of it. To enter the pool click one of the numbers on the bottom: the gray icons consume Energy, and the blue consume Dominance.
Expending Energy gives you XP for levelling up, but Dominance does not. However both can be used to chip hashpower into the pool, and both recharge in 5 minute increments. You’ll receive 10 Dominance and 3 Energy per 5 minutes up to your maximum capacity for each. Maximum energy is a stat you can invest points into on the stats screen, while Dominance scales purely with your level.

Inventory
Below the mining section, there is an inventory, which you can find items with differing effects you’ve earned through completing offers, PTC, or shortlinks.
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This screen is pretty basic and self-explanatory so I won’t spend too much time here. What each item does is as written on the label. Basically though, Chips will boost your hashes per unit of energy spent, and stack with stats you’ve invested points into. There are 3 flavors, one for each of the 3 mining pools.
Then there’s Dominance and Energy boosts, which restore up to that amount of energy or dominance when consumed. (less if you don’t have the capacity for it!)

Market
Market

You can buy and sell items on a marketplace too, allowing another method to earn a couple tokens if you’d rather sell the items you earn. Or, you could spend some of your hard-earned tokens on energy boosters to level up faster.

So in conclusion… is it worthwhile? 
Sure – if this is your cup of tea. You will by no means be able to retire on your profits, but you can play a fun game and earn yourself some pocket change doing so. Withdrawals are lower than many other sites, and the ROI on tokens through hardware is attractive. I heartily recommend Simplebits to anyone else who enjoys dabbling with faucet / offerwall earning. And, if you already use Simplebits but don’t understand how to use all of it, I hope this short guide has helped.

Samuel Hegi

Samuel Hegi , who first became acquainted with blockchain technology in 2014, is highly critical of blockchain technology. Samuel Hegi, a journalism graduate from the University of Brighton Theblockchainnew.com he is the editor-in-chief of the news portal. Blockchain is love.

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