Bitcoin Faucets - What Are They All About?

cryptospooge (38)in #bitcoin • 7 years ago

What is a Bitcoin Faucet Anyway?

A Bitcoin faucet is a website that allows a visitor to get some free Bitcoins. They give away free coins in very small amounts, usually a pre-set quantity. And typically there is a time limit. For example, you can claim only once every hour, or once a day. It's a tiny drip, drip, drip of free Bitcoins - hence the use of the term 'faucet.'

Why do they give away free coins?

Not out of the goodness of their hearts, I can assure you. There is always some kind of revenue that they are getting from the site.

You will find that most faucet sites are overloaded with ads. Some are pay-per-click, which means that they only get paid anything if you click on the ad to learn more about the product the ad promotes. Many ads are pay-per-impression, which means the faucet website gets paid even if you just view the page once.

There are also affiliate links, meaning the website gets paid if you follow a link through and then actually buy a product or sign up for a service. These are all pretty normal on the internet, of course. You've seen plenty of ads by now.

The problem is that faucet sites are often overloaded with ads. So much sometimes that they completely bog down the site, making the user's experience less than ideal.

That's the trade off - you endure their ads and get a small amount of a coin you want, and the faucet site gets revenue from the ad providers. As long as they get more money from the ad providers than they give away in Bitcoins, then the faucet stays around, the ad providers get visibility for their product, and you get free Bitcoins. Everybody wins.

Who are faucets for?

I would say that many faucet users are people who are getting into Bitcoin and cryptocurrencies for the first time and just want to get some coins to experiment with. To see how it all works. Also, if you don't have a lot of money, this is a good way to get started.

But, I imagine that using faucets and getting free coins could be a bit addicting by itself. Some people make a game out of it. It's almost like gambling but with a guaranteed win. I'm sure there are lots of faucet users who like them just for the fun of it.

There are so many faucets and websites that help faucet users to manage their faucets and coins, that it is still an active part of the Bitcoin community. They've been around for years and they probably won't go away anytime soon.

Here are the only two Bitcoin faucets that I recommend (although there are hundreds of others that you can try):

http://moonbit.co.in/?ref=11dedfb2b9cb

https://freebitco.in/?r=5053480

Are Bitcoin faucets for you? That's for you to decide. If you don't want to invest any actual money into Bitcoin yet, you always have the option to get started with some free coins from a faucet or two.