Tilly M Nicolson »
June 17, 2019 »
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What are bitcoin faucets?
Bitcoin taps, as the name indicates are like dripping faucets (faucets)… but in this situation,
it is cryptocurrency gadgets in location of water.
Simply because the leaking water takes some time to accumulate right into a droplet before it drips,
customers must await a sure length before they could gather the gathered coins.
How to use bitcoin faucets?
Using a bitcoin faucet is very simple. Once you visit the faucet webpage,
you have to enter your bitcoin wallet address or the email id associated with your Xapo wallet and hit enter.
A timer will start counting the amount of time you spend on the site.
Once you spend a certain amount of time on the site,
you can claim your reward by clicking the “Claim Now” or similar button.
You will have to prove that you are a human by filling in a Captcha or by solving a simple mathematical problem,
(this prevents any automated script from claiming rewards at regular intervals). That is it…! You have claimed your reward.
Your reward will be credited either immediately or on a designated weekly payout day to your wallet.
Bitcoin faucet explained
Bitcoin faucets (it can be for any cryptocurrency) are reward systems that dispenses rewards in the form of a tiny fraction
of bitcoin for visitors to claim. These rewards are dispensed at certain intervals of time.
Why bitcoin faucets?
Rewards are in place to attract visitors to the faucet’s webpage.
These faucet sites usually contain advertisements. Advertisers pay the faucet owner to display these ads on his site.
Advertising costs are calculated on Cost per Thousand impression (CPM) basis.
This means, if the site gets more visitors and if each visitor spends more time on the site,
then the site owner gets more money from displayed ads.
These rewards attract more visitors and they come back regularly to claim their rewards.
The visitor generally ends up spending more time on the faucet.
simple words — Faucets get more repeated visitors to the site; in turn, the owner gets more money from the advertisers.
Faucets also play an important role in the bitcoin ecosystem. It encourages more people to understand and adopt bitcoin.
Who uses bitcoin faucets?
If you understand bitcoin and how it works,
then you will know in no time that the bitcoin units given away by faucets is of negligible value.
You wouldn’t spend time claiming rewards on them. Majority of visitors who use these faucets and claim rewards from them are beginners,
still learning about bitcoin or minors who cannot do transactions legally on any of the bitcoin exchanges.
Where can I find bitcoin faucets?
You can find them by just searching for Bitcoin Faucet on Google or any other search engine of your choice.
The number of results you get will surprise you. You will find hundreds of bitcoin faucets to choose from, go ahead, explore
and earn a few satoshis while at it. (1 Satoshi = 0.00000001 BTC i.e. hundredth of a millionth BTC)
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