What Is A Bitcoin Faucet? Why do they Pay?

What is a Bitcoin Faucet? Why do they pay?

Bitcoin faucets are a reward system, in the form of a website or an app, that dispenses rewards in the form of a satoshi, which is a hundredth of a millionth BTC, for visitors to claim in exchange for completing a captcha or task as described by the website. There are also faucets that dispense alternative cryptocurrencies.

Bitcoin faucets were developed by Gavin Andresen in 2010.

Why does Faucets pay you?

Bitcoin Faucets show plenty of banner ads or pop ups to earn money. They pay satoshi per every claim, but you have to wait 5 minutes to 1 hour to claim again.

In order to claim you have to solve a captcha or SolveMedia.

If they pay you 0.1$ in satoshi, they probably earn 0.5$ in Bitcoin, so that's how they profit.

Read Also:How To Use Or Spend Bitcoins!

How do Bitcoin Faucets operate?

When you enter a Bitcoin Faucet along with ads, captcha API will be installed in center of the web page.

You have to solve the captcha and click claim in order to Qualify for receiving Bitcoins.

You have to solve the captcha and click claim in order to qualify for receiving the bitcoins.

To prevent spammers and usage of automatic bots,  Bitcoin faucets protect their property using captcha protection. 

Pros and cons of bitcoin Faucets:

Pros:

• 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 pay per claim.
• Special rewards for punctuality. Few faucets will pay 100% daily bonus every day for members who visits 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 the scam.
• No login details required, except for few. Just enter your bitcoin address for the first time and receive your bitcoins instantly to the micro wallet 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.