Cryptocoin, basically Bitcoin faucets are a kind of digital reward system, which comes in the form of a website or mobile app. It dispenses rewards in the form of a satoshi, that’s a hundredth of a millionth Bitcoins, for any visitor to claim in exchange for completing a captcha or any task as described by the faucet site.
The faucet website or app gives away free coins. And, there are many coin faucets available these days on the net, as well as many similar service for other alternative crypto-coins. Each time user claim their account accumulates a random amount of coins.
Each of these faucet websites will give user some amounts of crypto-coin for free. These faucet sites are great to earn some bitcoins, Litecoins, Dogecoins, Etherum and other alt-coins for free. They usually may needs just address entry and captcha solving.
If you’re reading this, it might be possible that you want to know how to make money from crypto-coin faucets. How they work, how they pay, and which ones are the best. Learn about it here!
Table of Contents
What is a Crypto-Coin Faucet?
The Crypto-coin faucets are a new kind of reward system, comes in the form of a website or mobile application. These faucets dispenses rewards in the form of a satoshi, which is a hundredth of a millionth BTCs, for any visitor to claim in exchange for completing a captcha, or any task as described by the website. There are many faucets that dispense popular alternative crypto-currencies.
How Does Crypto-Coin Faucet Works?
You might be thinking about, how they work, how they pay, and which faucet sites or apps are the best in the market. This article tries to let you understand how the faucet works?
Operation of Faucets
In faucet sites, rewards are dispensed at a predetermined intervals of time. It usually give fractions of a digital coins, but the amount typically fluctuates according to the value of the coin. Typical payout per transactions is less than 1000 satoshi, although, there are some faucets also have random larger rewards.
To reduce crypto-coin mining fees, faucets normally save up these small individual payments in their own ledgers, which then gets added up to make a payment sent to a user’s digital wallet address.
As crypto-coin transactions are irreversible in nature, and there are many faucets, they have become targets for many hackers stealing the digital coins like Bitcoin and other Alt-coins.
Purpose of Faucets
The purpose of faucets was to introduce users to bitcoin. Faucets are a great way to help introduce new people to bitcoin, or to other alt-coins. Faucets provides information to users as well as offering them some free coins.
Faucet sites are high traffic websites, that gets a huge number of page views per day to a site which is giving away free money. Faucet sites are great way to bring products and services to users to make them familiar with a brand name.
Making a great profit from any faucet site on its own is a lot harder than just making a popular faucet, but it is still possible to make healthy profit out of it.
There are a lot of faucet sites today, so it’s a very competitive market, and earning enough from advertising to cover the cost of the coins 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 any coin faucet.
Referral system of Faucets
It is typical for faucet site or app to have a referral system, where existing users referring new users are rewarded with a portion of new users’ earnings from the faucet.
Unlike bad pyramid schemes, earnings do not percolate to the top in the chain of referrals. The exact good status of faucets is unclear and can vary by jurisdiction, refer to legality by country.
There are some great faucet sites, that really exist and work, however, there probably are also some fake faucet sites and apps. But, still one of the easiest ways of earning some digital coins comes from the faucet websites.
That’s what exactly the coin faucet site is, and the principle of its work! Faucet website or app, asks user to type a captcha, play a game, or watch the videos and earn rewards in the form of digital coins.
What do you think about the crypto-coin faucet sites, the way they are working and letting users earn digital coins for doing simple tasks? Please let us know via comments!