Free Bitcoin: What is a Bitcoin Faucet? (How it works + Examples)
If you wanna get Free Bitcoin you are at the right place lets understand
What is Faucets ?
Faucets are a lot more than just simple reward systems. Let’s say, you have a leaking faucet in your kitchen or maybe a bathroom statistically.We probably all have had one at some point or another and if you place a bull under that leaking faucet and you wait around for a minute nothing substantial is gonna happen.
History of Bitcoin Faucet
A year after the launch of bitcoin the very first bitcoin faucet was launched self-titled. This bitcoin faucet which is currently one of the highest paying faucets out there was launched at a time when the coin was not only worthless. But also unknown in fact nobody used it Gavin and reessen founder of bitcoin faucet was one of the very few people to see potential in bitcoin and cryptocurrencies in general and because he was amazed by the idea of a decentralized, self-governing and encrypted virtual currency.
How Bitcoin Faucet work ?
Bitcoin faucet works the difference being that satoshi’s are leaked. Instead of water, now at this point, you may be wondering what satoshi are satoshi which is also a nickname for the guy who created bitcoin is also the smallest unit of bitcoin. Just like, a dollar can be divided into 100 pennies one bitcoin can be divided into 100 million satoshi’s now moving on let’s get a little technical.
Bitcoin faucets are simply websites networks or programs that offer users small amounts of bitcoin each time they carry out different tasks and these tasks can range from viewing advertisements solving captchas even playing games and just other tiny small tasks. The number of satoshis given to the users is usually very small and tiny. However just like that analogy earlier a leaking kitchen faucet that’s left on for months these satoshis can add up over time.
Features of Faucets
The three of the main features of these bitcoin faucets
- Faucets give users satoshis as rewards for completing tasks on their website and while there have been talks about how faucets can make someone rich the rewards are mostly tiny and insignificant anyone seeking to make good money .From these, Faucets will have to dedicate a better part of their time to it in fact you’d probably make more money at a part-time job.
2. Bitcoin faucets are mostly free to use and accessible to anyone with an internet connection regardless of where they live this is a big one.
3. Bitcoin faucet platforms that will never let you withdraw your rewards it is important to keep in mind the minimum payout when using these services sometimes when you do the math it might take three years of working every day just to get one payout.
Example of Faucets
Bitcoin faucets because although we have this stylishly mentioned the original bitcoin faucet as one of the highest paying faucets let’s take a look at a few unique alternatives that have made security stability reputability and of course high payments as a core function
First, we have moon bitcoin one of the oldest and most popular bitcoin faucets. Moon bitcoin has a couple of amazing and remarkably unique activities that keep persuading users to come back to their site unlike a few of the other bitcoin faucets. This program allows you to complete tasks and participate in activities to earn other cryptocurrencies like ethereum and litecoin now this is an ideal and a fantastic platform for anyone wanting to earn not just bitcoin but other digital currencies, because of this variety of bonuses moon bitcoin has cemented its stance as one of the leading and user-friendly faucets next up we have bitcoin aliens so compatible with android and ios devices.
Risk with Bitcoin Faucets
- There are a lot of scams out there while there’s a ton of reliable and stable faucets like the ones that i mentioned earlier. These scams out number them with faucets becoming a big business in the crypto space most would ask users to complete tasks for satoshis but will not end up allowing them to withdraw their rewards to their wallets.
2. Malicious files since many faucets will require you to download files and applications to test on your device a lot of these files are virus-ridden programs capable of destroying or ruining your device.
3. Fake ads advertising most faucets earn money by advertising other brands products or services and requiring you to view them. Those ads whether they be an image or a video now some of the time, these ads could be fake misleading, and also capable of destroying a user’s computer. So while you’re probably thinking you could make a lot of money from these faucets since some of them pay up to 30 000 satoshi’s as rewards. You should also bear in mind that only long-standing users can earn that much for completed tasks.