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Bitcoin Faucet: How to Earn on It
With the growing popularity of Bitcoin people started to look forward to earning on it. Faucets help to introduce new people to the field of crypto-currency, to promote the idea of Bitcoin, and, of course, to earn some money for their developers.
First who thought about faucet idea was Gavin Andresen, a developer who is working on various Bitcoin project during his career (now he is a chief scientist at the Bitcoin Foundation – a nonprofit organization that works to promote and protect this crypto-currency).
So what exactly is the Bitcoin faucet and what is the principle of its work?
Faucet is a website or an app, which asks you to type a captcha, play a game, or watch the video. Doing these actions, you earn Satoshi – a 0.0000001 of Bitcoin. Wait, you would think, I’ll just come and get free money? Where’s the catch?
Well, technically, you really get free money. It’s just a small amount, so you have to visit the certain website many times to earn something substantial. And here is the way to earn for the website owner. The bigger is website traffic, the higher are owner’s earnings, and more attractive reward is given to visitors. Everybody’s happy.
Here’s how it works in detail. You create an attractive website with some cute game. You’re giving a small reward to people who play this game. Randomly the reward is multiplied. You also suggest your visitors to attract their friends and get the additional bonuses. People are playing the game, earn some satoshi, however, satoshi are paid once per some time (day, week, etc.), when the sum is no less than something. It means that one visitor, to get his earnings, has to spend some time on your website. If the user is lucky, if the game is interesting, and if there is no problems with payments, he comes back and tells his friends. You get more visitors, who spend more time on your website. It means that you can earn on contextual ads – you receive money for the displayed advertisements. The more people will see your ad, the more you earn.
Usually, Bitcoin faucets are used for those who just start their acquaintance with crypto-currency. In funny and interactive way they involve people to the crypto-currency field by making them create a Bitcoin wallet, get interested in the Bitcoin rate, latest news of the niche, etc. So the idea of Mr. Andresen is really very helpful for Bitcoin promotion, don’t you agree?
Logical Outcome of the Internet Idea
Modern Internet hardly resembles the initial idea. At the beginning, the Internet was believed to be the means of free and uncontrolled way to communicate and share opinions, without regulative eye. However, the network has become more and more centralized with time. The biggest part of traffic is passing through the servers of a few big corporations, like Facebook, Google, PayPal. If you want to communicate with somebody, or buy something, you have to trust not only your partner, but also one of the intermediaries. And therefore, we sacrifice control, privacy, sometimes even safety.
The group of enthusiasts decided that it shouldn’t be like that. Why not re-build the Internet, returning to its initial idea? Ethereum is a mixture of a platform, crypto-currency, and programming language that helps to create decentralized applications – and it has the ambition of changing the habitude.
Ethereum is based on the idea of the ideal decentralization, shown by Bitcoin project. Based on the blockchain principles, Ethereum, however, goes further than just being a new digital currency. It was planned as a Turing complete language, which can be used for creating of any applications. It means that you won’t need any infrastructure for developing and distributing applications. Same as blockchain, Ethereum is functioning in the form of data base distributed between users.
Ultimately, the biggest part of Ethereum success will depend on the ways it will be used and what solutions will be created on its base. However, big popularity may become a tender place of Ethereum, because peer-to-peer network would suffer from big overload.
Decentralized singularity is real, but this cannot be created in one day.
Making Money on Bitcoin Faucet
Bitcoin faucets are websites that literally give free coins to their visitors for fulfilling some actions – entering a Captcha, playing a game, or watching a video. Actually, that’s all you should know about Bitcoin faucet, if you are a newbie in the field. To get some free coins (very-very small amount, don’t be too optimistic), you just have to create a Bitcoin wallet and do what you have to do on a particular faucet website.
What’s the catch, you will ask. Well, as I’ve said above, you won’t get any substantial amount, even if you browse through the Bitcoin faucets 24 hours a day. So why do people do this? Come on, freebies are always good, no matter how much it is! In addition, if you visit different faucets, you will surely find something interesting – some catchy game or similar, that will help you to kill the time with fun and a bit of profit.
Originally, Bitcoin faucets were created to promote crypto-currency, as a new and unknown field. It was a possibility to try practically what is Bitcoin, without investing your own money. With time hustlers have found ways to earn on Bitcoin faucets. Faucets are high-traffic websites, with hundreds of thousands of visitors per month. Meaning that the site owner can earn with Adsense and other ads, which pay per view or per click. So creating an interesting game for Bitcoin faucet and attracting therefore more visitors (and, of course, paying a little bit more than other faucets) will be quite profitable for a website owner.
By the way, there are not only Bitcoin faucets: Litecoin, Dogecoin, Peercoin faucets exist as well, so you can try them all, and then try to make some exchanges and transactions. This way, you will become more used to dealing with crypto-currency and be ready to fulfill more serious operations.
Among Bitcoin faucets separately stand those that offer crypto-currency reward for reaching a particular level, completed mission or fulfilling other game task. Usually, these are not big amounts in Satoshi (1 satoshi = 0.00000001 ฿), which can still be increased with the help of referral programs.
To understand the rules of such game types is not hard, the main point of such games is the following: you receive a certain task before you start playing, after you complete the task, you receive a reward. You can collect your funds by repeating your actions and withdraw your earnings to the Bitcoin faucets, or you can spend your money in the game, by improving the game buildings or equipment.
This is evident that to reach a certain level of profitability, one must spend some time in the game, gradually improving the available functionality, or invest some amount at once to reach higher earnings from the start. Usually, the interface of such games is simple and not overloaded with excessive details, everything is understandable on an intuitive level.
So, as we can see, there is a much better alternative to the trivial clicking and mechanic captcha typing on the traditional Bitcoin faucets, still, the aim of all faucets of all types is always the same – help users to receive free Bitcoins. The faucet websites themselves receive income from the demonstration of various ads, you have to remember about it and switch the ad blockers, if you use ones.
To receive free Bitcoins, you have to make three easy steps:
Step 1. Pass an easy registration
Step 2. Study closely the game rules
Step 3. Play and receive reward
If you’ve made everything right, enjoy the game process. And of course you should remember about money reward for patience and persistence.