What is a Bitcoin faucets?

2/14/2016

If you’re a cryptocurrency fan, you probably already encountered many Bitcoin faucets. Bitcoin faucets are websites that supply you with free BTC, usually in exchange for solving a captcha or visiting another site every few hours.

What are Bitcoin faucets?

In short, a Bitcoin faucet is a website that gives out a small amount of Bitcoins to its visitors. The amount can vary anywhere from 100 Satoshis (0.000001BTC) up to 10,000 Satoshis and more (0.0001BTC).Usually after you receive your coins you need to wait a certain amount of time until you can ask for another batch. The original Bitcoin faucet was operated by Gavin Andresen, The Bitcoin Foundation’s chief scientist. It started out around late 2010 and it gave visitors five Bitcoins for free. Back then, each Bitcoin was worth something like $0.08. The whole idea was to spread the word about the world’s first cryptocurrency.

How People Make Money from Bitcoin faucets

You may be asking yourself why people give away free Bitcoins. Well, there can be 2 answers for that:

They are trying to teach people about Bitcoin (like we do here).
They are somehow making money from it.

Of course you can probably guess that #2 is the main reason people set up faucets. Just so you’ll get an idea of how big the faucet industry is, almost 50% of the leading Bitcoin websites today in terms of traffic are faucets.
But the question remains: How can you make money from these faucets? Well, most of these websites have an overwhelming amount of ads placed all around them. Some deceitful faucets even place their ads in places which will get you to accidentally click the ad instead of the “claim bitcoins” button.

So the business model of these faucets is bringing cheap traffic in and getting them to click on ads. But where do they get their “cheap” traffic from?

At this point you may be thinking, “Hey I can make lots of money by visiting faucets!” Well I’m sorry to burst your bubble but trying to get rich out of visiting faucets isn’t a realistic option. But if your trying to get a few Satoshis together just to get some fractional Bitcoins in your wallet , its a great way to get started , just to get the feeling of how the wallets work and how you can move cryptocurriencies around the web.

Allot of the gaming websites and gambling websites use fractional bitcoins or Satoshis as a form of payment and if you just want to try your luck to see if you could WIN a actual Bitcoin , i would suggest that before actually using your credit card.

Faucets can be a great way to experience the online currency to get you started .

Bitcoin Faucet - MOONBIT
Litecoin Faucet - MOONLITE

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