What are Bitcoins?
June 22, 2016
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What are Bitcoin Faucets?

Bitcoin Faucets

Bitcoin is a form of digital currency which operates through a open-source software and is decentralized. It was introduced by Satoshi Nakamoto in 2009. A year later, Gavin Andresen came up with the idea of bitcoin faucets. Faucet in general sense, refers to a tap or a valve which regulates water. Bitcoin faucets act as regulators for BTC flow. Bitcoin faucets is basically a platform via which bitcoin money transaction has been introduced to masses. It is done so, by giving incentives to users in the form of awards. There are various online websites, that provide you with different kinds of tasks. If you are able to complete those tasks, you are rewarded with bitcoins. These websites provide you with free bitcoins to start with.

There are random tasks, like playing games or typing correct captcha code. One of the prime functions of bitcoin faucets is to increase customers. Even today, a large number of people do not trust digital currency. In fact, most of the time, they are simply unable to understand the whole process. They always want to assure themselves with hard, tangible money. Bitcoin faucets is an innovative marketing strategy, in which common user is provided with an free money to start with. This way, the user, who was at first alien to the concept of bitcoins or altcoins, is able to gather information about how bitcoins work, which eventually leads to bitcoin promotion.

The reason behind rapid bitcoin success is the fact that it has generated huge traffic. Bitcoin faucet websites are one of highly visited websites, like Bitcoin Bucket, Free Bit box, Win Free Bitcoin, Free Bitcoin Faucet Rotator and many more. As these websites are giving free bitcoins to start with, they have millions of pageviews each day. Many websites have established a limit of use by a single user for one day. Payment pattern varies from days to months, depending on websites.

Making faucets is one of many ways to generate income. This market is becoming competitive with each passing day, so website owners try to add different kinds of twists so as to make it more catchy and interesting and eventually generate more traffic. These websites also contain advertisements of different companies, which pay faucet websites for displaying their ads. The cost of these advertisements are determined on the basis of time spent by a visitor on the site. The more the time spent, the more these companies pay to faucet websites.

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