The bitcoin faucet is one feature on the websites that periodically transfers the cryptos straight to user’s bitcoin wallet and third party micropayment wallet. Some people consider the bitcoin faucet as a hassle, and some think, it’s the most convenient method to begin earning bitcoins right from the scratch.
What’s the Bitcoin Faucet?
Known to be created by Gavin Andresen in the year 2010, faucets are the websites that offer free cryptos for:
- Website visits
- Decryption CAPTCHA,
- Offer Walls
- Pay to Click on Ads
- Watching videos
As per Andersen, bitcoin faucets were made to expand crypto community. An idea was distributing bitcoin widely. Gavin decided that by “having skin in a game & sending or receiving BTC” will help the people to know the cryptos concept.
How Does Bitcoin faucet really work?
The visitors of Bitcoin faucet platforms are paid with the coins to view ads. Earned coins are known as Satoshi, and one Satoshis comes to 1/100 million of bitcoin. That depends on a project; it’s possible to get over 200 Satoshis every hour, using just the home computer, without buying costly equipment. The bitcoin faucets don’t offer over 10 000 Satoshis one time. The working algorithm of bitcoin faucet looks in a following way:
- People visit the cryptocurrency faucet & perform some actions (visit advertisers’ websites, enter captchas, and read text ads). Longer the user stays on a website, better traffic that website will get.
- After an action is done, the button comes up, and asking users to enter the wallet number or address.
- Before launching the project, owners of a faucet place the ads on website in a form of the videos and banners. Also, faucet owners may publish their links to the web page on the forums, blogs, or thematic resources.