Fathead minnows are the most popular type of freshwater bait fish. Anglers love fathead minnows because so many fish eat them and they are fairly easy to keep alive. Fatheads also live long in the bait bucket without much care. In cooler weather, they can last days by just putting them in a minnow bucket and leaving them outside. Fatheads work well for bass, walleye, crappie and perch.