Bitcoin Faucet, what you need to know about these sites bitcoin faucetBitcoin (BTC) is a market asset that needs no introduction. After having exploded in popularity recently after a long history, many people’s interest in this investment has increased. When researching more on the subject, a common term that many people end up finding is “Bitcoin Faucet”.
But what exactly is a Bitcoin Faucet and, more importantly, how does this system work?
What is a Bitcoin Faucet
In literal translation, Bitcoin Faucet means Bitcoin Faucet and this can well exemplify how it works and what its purpose is. Faucets “drip” Bitcoins from time to time for users of the website or app, always for free.
Quite simply, these Bitcoin taps are websites or online applications that function as a reward system for users who take an action required by the website. Most of the time, this action is to complete a captcha.
In exchange for completing the action requested by the faucet, users receive a small amount of Satoshi, which is one hundredth of a millionth of a BTC. These assets are delivered directly to the user’s preference portfolio.
It is important to note that these reward systems are not a way to invest and earn a lot of money with Bitcoin. The rewards are very low and it would take a long time for someone to gather a large number of assets to achieve a good financial return.
For this reason, most users use faucets to earn some “exchanges” in Bitcoin or other assets to bear transaction and operation costs within the Blockchain.
What is the purpose of a Bitcoin Faucet?
When the first websites of this type were created, Bitcoin and the concept of cryptocurrencies was quite new and many people had no idea how to start exploring this new universe. That is why faucets were created, as a way to introduce many people to the concept of Bitcoin without taking any risk when investing in the asset.
For example, a new user who has never used cryptocurrencies or blockchain technologies, when using such a website, has already learned what it is and how to use a wallet and an address to transfer money.
In summary, these sites were and still are an excellent way for people to learn more about Bitcoin and have the opportunity to earn some coins without taking any risk. Over time, the popularity of this system has increased and there are several faucets for users to take advantage of.
Where does the money come from?
One of the most common questions among people interested in using the sites is where the money that is delivered to users comes from. Hardly anything is given away to anyone, especially assets that are worth real money.
The truth is that most faucets still have an educational value for new users as their main idea. For this reason, many sites are supported by donations from other cryptocurrency users. Others make money from advertising or have their own mining companies.
These sites are a good way to earn a little bit of Bitcoin to start understanding more about this financial industry. But do not expect to earn a high value, the best way to have a good return with Bitcoins is through trading.