Oct 29, 2018 17:30 UTC
Oct 29, 2018 at 17:30 UTC
Bitcoin Faucets Explained
Where to get free Bitcoin? This is one of the most common questions asked by the individuals who are new to Bitcoin. The simple answer to this question is “Bitcoin Faucets”. You might not get much out of it, but it’s free nevertheless.
As the name implies, the Bitcoin faucets are like dripping faucets at home (taps). But in this case, instead of water, it’s the cryptocurrency. Just like the leaking water which takes some time to amass into a droplet before it drips down, users need to wait for a particular time-frame before they could acquire the accumulated coins.
A Simple Explanation on Bitcoin Faucet
A Bitcoin Faucet or, more specifically, a Cryptocurrency Faucet is a website which gives you a chance to earn a free small amount of satoshis (Bitcoins) or other altcoins.
This is possible just by solving a captcha code displaying some kind of advertising. It’s done by clicking on the claim button. As you can imagine, the name comes from the similarity between a real faucet dispensing water, and a Bitcoin Faucet that gives you free money.
Why There’s A Need Of Bitcoin Faucets?
The topmost advantages are in the destination for appealing to visitors to the webpage of the faucet. These faucet websites often contain advertisements. Promoters pay the faucet owner for showing off these advertising on his or her website. Advertising costs are measured on Price per Thousand impressions basis. This implies that in case the website gets more visitors and each of them spends more time on the website, then the website owners get more money from the displayed advertisements. Such rewards not just attract more visitors, but give a reason to them to come back over and over again and claim more rewards. The visitors usually end up spending more time on the faucets.
In layman terms, Faucets at home get more and repeated visitors at the website, and the owner gets more income from the advertisers in return. Also, the Faucets at home play a significant role in the bitcoin ecosystem. It encourages even more individuals to understand as well as undertake more bitcoin.
Who Are The People Using Bitcoin Faucets?
If you comprehend Bitcoin perfectly and how exactly it works, then you will easily come to know that the bitcoin units given by the faucets feature minimal value. You wouldn’t spend the time to claim rewards to them. The vast majority of the visitors who use these faucets as well as promise rewards from them are the beginners, still learning about the bitcoin, and minors who can’t do the transactions legitimately on the same of the bitcoin exchanges.
How Can Bitcoin Faucets Be Utilized?
Using a bitcoin faucet is quite simple. Once you visit the webpage of the faucet, you need to enter your bitcoin wallet address or the Email ID linked with your Xapo budget and hit the enter. A timer will begin to keep track of the amount of time you spend on the website claiming your reward by clicking the Claim Now button. You will also need to provide the evidence that you are a human by solving the Captcha or by solving a simple mathematical sum. This is proven helpful for any automated script from claiming the rewards at the regular intervals. That’s it! You have eventually claimed your reward that will be credit immediately or on a specific weekly payout day to your wallet.
Generally, the faucets at home have a limited time duration during its intervals between the statements by each visitor for avoiding one person from claiming all the available bitcoin from faucet’s wallet. This time duration varies from 5 minutes to 24 hours every day, depending on the faucet.
How Can You Earn Free Bitcoin?
For showing you how simple it is to earn free Bitcoin from a faucet will need to use a faucet website. On the Faucet website, you earn Bitcoin by Captcha, meaning that by solving a captcha code, you can claim your reward. Here’s what you will need to do –
Step 1: Insert your Bitcoin Address
Step 2: Solve the Captcha code or the mathematical problem
Step 3: Claim your reward
Yes, it’s as simple as 1, 2, 3…
Where Can You Actually Find Bitcoin faucets?
Well, you can find bitcoin faucets by just searching for Bitcoin Faucet on the search engines like Google, Yahoo, Bing or any other search engine that you have chosen. The number of results you get might surprise. You can find hundreds of bitcoin faucets at home to choose one of them. Just go ahead, explore and earn a few satoshis while at it. (1 Satoshi – 0.00000001 BTC, i.e. hundredth of your millionth BTC)
Some of the popular bitcoin faucets are –
– 777 Bitcoin
– Bitcoin Zebra
– Moon Bitcoin
A lot of bitcoin faucets are doing well at their job. Many of them were born since 2014, when the Bitcoin technology was already mature, whereas the others got disappeared. These sites were initially born for distributing bitcoin and progressively starting to deliver the Ethereum, Dash, Zcash, Monero and some other cryptocurrencies. This is a good list of current and running faucets that you can utilize together for earning rewards.
Why Bitcoin Faucet Give You Money For Free?
Advertisement acts like a keyword for Faucets. Without the revenue from advertising, the faucet admins will not be able to pay you. It is for this reason that the faucet pages are full of advertising that you need to display and click to receive your free Bitcoin. People usually get confused this with bitcoin mining. Don’t do that mistake!