Bitcoin faucets are websites with lots of advertisements running on them that rewards a small amount of bitcoin to their members for visiting their page. On the other hand, a bitcoin is a digital currency that has a market value.
It is neither a physical coin nor a paper, and it is held electronically, i.e. bitcoins can be stored only in computers, servers etc. If the word Bitcoin is new to you, I highly recommend you to read this article: Bitcoins In Kenya, How to Buy and Sell through Mpesa.
Though bitcoins are not physical they have very high value, let say 1 Bitcoin = +/- Ksh 376121.16 and can be converted into local currencies. Most of the people online are unaware of bitcoin faucets. And, most of you might have seen advertisements about top bitcoin faucets on some sites).
But people like you don’t have any idea whatsoever about it. I have written this article to try and explain about bitcoin faucets. Here, I worked as much as possible to answer the following questions:
- What is a Bitcoin Faucet?
- How do Bitcoin Faucets operate?
- Why Bitcoin Faucet pays you money?
So, What is a Bitcoin Faucet?
As earlier mentioned in our first paragraph, a bitcoin faucet is a website with lots of advertisements running on it that rewards a small amount of bitcoin to their members for visiting their page. Unlike regular PTC websites, Bitcoin faucets such as Btcclicks pay bitcoins to their members for every visit they make to their web page.
The rewards are not fixed on most of the faucets. Instead, they are variable. Each time they dispense some amount of bitcoins based on several claims made by the members per day or at least a few requests every week.
The more you’re a regular, the more you can earn. Few Faucets pay a fixed amount of bitcoins each time when you claim. The bitcoin faucets will set return time. The return time is the time fixed by the faucets, where you can claim bitcoins only after a particular fixed time from the previous claim.
Let us say that you’ve claimed the bitcoins now, and you cannot claim the bitcoins again immediately. Instead, you’ve to wait for a specific time before you can request another time. The return time varies from a single minute to an hour based on the faucet.
So, How do Bitcoin faucets operate?
Now you know what a bitcoin faucet is and how bitcoin faucets dispense bitcoins. When you enter a bitcoin faucet along with ads, a captcha API will be installed in the centre or somewhere within the web page.
You have to solve the captcha and click claim to qualify for receiving the bitcoins. To prevent spammers and usage of automatic bots. Bitcoin faucets protect their property using captcha protection. In simple terms, you’ve to open the faucet, enter your wallet address, solve the captcha and click claim to receive bitcoins. The process is repeated for every return time.
Why bitcoin faucets pay you for visiting their webpage:
As I said earlier, the home page of bitcoin faucets will be fully covered with advertisements. They bring revenue to their faucet through these advertisements. And they pay their members from the ad publisher revenue. Now let me say how it works. Advertising networks like Google Adsense pay faucets both in terms of impressions and clicks.
So, if any of the faucet members click an ad on the faucet, the faucet owner will receive $0.10 to $1 or even more per click based on member’s demographics. And for every 1000 times, the faucet page makes an impression they will also be paid in terms of eCPM.
Thus, the faucet earns money both in terms of clicks and impressions. Like 10 clicks per thousand impressions = $3 for clicks + $3 eCPM = $6 revenue for faucet.
Faucet owners need customers to create impressions and make clicks. Nobody will do it for free, nor they can do it on their own. So, faucets owners develop a community of members who can do it for them. In turn, members get paid for doing it.
For example: If the faucet owner earns $5 for 1000 impressions, they spend $1 – $2 for 1000 impressions to pay their members for making them earn.
Now you know what a bitcoin faucet is and how it works. To earn more money, you should learn some simple techniques.
Pros and cons of bitcoin Faucets:
- Anyone can earn 24/7 on faucets. There are no restrictions like PTC sites.
- Huge pay for regular workers. If you’re a regular member, you can expect more payment per claim.
- Exclusive rewards for punctuality. Few faucets will pay 100% daily bonus every day for members who visit their faucets daily.
- Huge referral commission. Most of the faucets pay referral commission above 50%.
- 90% bitcoins are scam less, where 70% of paid to click sites are a scam.
- No login details required, except for few. Just enter your bitcoin address for the first time and receive your bitcoins instantly to the faucet box from next time. Cons:
- Irregular members cannot make more from bitcoin faucets as their system is designed in such a way that it rewards the member who makes more claims.
- Needs effective planning to earn a reasonable income.