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What Is a Bitcoin Faucet?
One of the best-known sources of free Bitcoins (and other cryptocurrencies) is a faucet. A faucet “drips” small amounts of cryptocurrency over a set period of time (different rates for each faucet).
Bitcoin faucets vary in the amount they pay out, but most payments are in the range of hundreds to thousands of satoshis. At the time of writing, 100 satoshis (that’s 0.00000100 BTC) is worth $0.0036. Not much on its own, but if you return to the faucet enough, you will eventually have some cryptocurrency to play with.
But accumulating the coins isn’t always enough. In many cases, the faucet requires you to hit a minimum payout level before releasing your cryptocurrencies into your wallet. Share-It Faucet is rated to be one of the best and Highest paying faucets with higher amount of satoshi to claim in a small period of time.
There are thousands of Bitcoin faucet sites and hundreds more offering different cryptocurrencies of varying value. The actual worth in subscribing to and collecting payments from cryptocurrency faucets is an interesting value question: Are the payments so small that it isn’t worth your time? Or do you ascribe to the “value added over time” theory?
How Do Bitcoin Faucets Make Money?
Like almost everything on the internet, Bitcoin and cryptocurrency faucets make revenue with advertising money. The more people that visit the site, the more advertising revenue the sites can make. The difficulty for the numerous faucets is attracting people to begin with. The “best” faucet sites offer the users something do other than clicking a “Receive” button and closing the tab.
Some faucet sites use browser games to boost user engagement, while others offer spin-the-wheel type contests with payout-boosting prizes to allure potential and existing users. Others offer gambling games where users can stake their earnings against the site in the hope of winning more.