What Are Bitcoin Faucets ? | Is It Real Or Scam! | Earn Free Bitcoins |

in cryptocurrencies •  7 years ago  (edited)

BITCOIN FAUCETS:

Bitcoin faucets are a reward system, in the form of a website or app, that dispenses rewards in the form of a satoshi, which is a hundredth of a millionth BTC, for visitors to claim in exchange for completing a captcha or task as described by the website. There are also faucets that dispense alternative cryptocurrencies.Bitcoin faucets were developed by Gavin Andresen in 2010.

Operation

 Rewards are dispensed at various predetermined intervals of time. Faucets usually give fractions of a bitcoin, but the amount will typically fluctuate according to the value of bitcoin. Typical payout per transaction is less than 1000 satoshi, although some faucets also have random larger rewards. To reduce mining fees, faucets normally save up these small individual payments in their own ledgers, which then add up to make a larger payment that is sent to a user's bitcoin address. As bitcoin transactions are irreversible and there are many faucets, they have become targets for hackers stealing the bitcoins.

Referral system

 It is typical for faucets to have a referral system, where existing users referring new ones are rewarded with a pro rata portion of new users' earnings from the faucet. Unlike illegal pyramid schemes, earnings do not percolate to the top in the chain of referrals. The exact legal status of bitcoin faucets is unclear and can vary by jurisdiction, refer to legality of bitcoin by country. 

Purpose

  1. To introduce users to bitcoin: Faucets are a great way to help introduce new people to bitcoin, or to altcoins. A majority of faucets provide information to new users as well as offering them some free coins so that they can ‘try before they buy’, experimenting with a test transaction or two before putting real money on the line. Since this whole experience is so new and a bit complicated to people, who perhaps don’t quite trust it with their hard money, this is a beneficial way to promote digital currency and bring in new users.
  2. To get traffic: Faucets are high traffic websites. It is not all that difficult to get a huge number of page views per day to a site which is giving away free money. If a website has other content or services to promote to Bitcoin users, especially new users, a faucet is a great way to bring them to make them familiar with a brand name.
  3. To make money: Making a healthy profit from a faucet site on its own is a lot harder than just making a popular faucet, but it is still possible. There are a lot of these sites around today, so it's a very competitive market, and earning enough from advertising to cover the cost of the coins you are giving away and hosting costs is nearly impossible. Adding additional content to a website, or creating some kind of unique or interesting twist, is the only way to generate an income for a Bitcoin faucet.

Faucet Hub

Faucet Hub is the most famous bitcoin faucet system now a days. here you can earn more than 20 crypto currencies and bitcoins with there different sponsored faucets!

 

Strong Points

  • Multi-Currency Payments
    Send & receive in Bitcoin and popular altcoins
  • Advanced Security
    Protect your account and website from exploiters
  • Easy to use API
    Integrate your website or app in minutes
  • SSL Ready
    Connect to your website & API via SSL secure connection
  • On-site Chat
    Chat with users & faucet owners directly on site
  • Enhanced Statistics
    Get insights about your faucets you never noticed

 Content Original Owner::>>  https://en.wikipedia.org/ 

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

Source: https://en.wikipedia.org/wiki/Bitcoin_faucet

Not indicating that the content you copy/paste is not your original work could be seen as plagiarism.

Some tips to share content and add value:

  • Using a few sentences from your source in “quotes.” Use HTML tags or Markdown.
  • Linking to your source
  • Include your own original thoughts and ideas on what you have shared.

Repeated plagiarized posts are considered spam. Spam is discouraged by the community, and may result in action from the cheetah bot.

Creative Commons: If you are posting content under a Creative Commons license, please attribute and link according to the specific license. If you are posting content under CC0 or Public Domain please consider noting that at the end of your post.

If you are actually the original author, please do reply to let us know!

Thank You!

Sir I Can't Upload These Type Of things ? I Am Sorry Because This was my first time. i will never do such things again. Thanks for informing me.

Thanks do the same for me:)

Thanks!

Will do

Thanks!

be careful

Okay!!