En its great and incredible development, Bitcoin It has also introduced new terms and concepts to our language, which at first glance may seem somewhat confusing. Bitcoin Faucet It is one of them, since in its translation into Spanish it means "tap or Bitcoin source". In this article we will explain everything about this concept that is sounding in the world of cryptocurrencies since practically its birth, and that you will surely find very striking.
What is a Bitcoin Faucet?
The concept of Bitcoin Faucet It is not new. It was first introduced by the main Bitcoin developer, Gavin Andresen in 2010. Andresen was the one who created the first Bitcoin faucet. This gave a reward of 5 bitcoins for completing simple tasks.
In this way we can define Bitcoin Faucet, as a reward system from which small amounts of bitcoins can be obtained, known as satoshis. a Satoshi is the smallest of the bitcoin units of account that exist. These rewards are delivered to users after taking a certain action. For example, solving captchas, participating in games, or simply viewing advertisements.
Keep in mind that nobody will give you free bitcoins, so if that faucet is from a cryptocurrency that is listed on a exchangeNormally, you will receive that cryptocurrency in exchange for your time or see advertising. Activities that hardly cost you, but with which the owner of the faucet will earn enough to give you a share.
However, there are faucets that give away worthless cryptocurrency, as is the case with cryptocurrency faucets testnet. Below we leave you some examples.
How does a Bitcoin faucet work?
Bitcoin faucets all operate in virtually the same way. Its operation is mainly based on solving simple tasks and participating in established activities. Thanks to these activities, bitcoins can be obtained periodically. For example, Bitcoin Faucet, the first faucet developed, allowed 5 bitcoins to be acquired from time to time. Users only had to complete certain functions on the web to receive this reward.
However, each faucet can independently set how many cryptocurrencies they are going to award as a reward. And the time that must elapse for users to claim them.
On the other hand, to register on one of these websites you only have to enter your email address and your address wallet where you want to receive the bitcoins. Most will also ask you to complete a captcha to confirm that you are not a robot. And once this process is completed, you can start to perform the requested tasks to accumulate satoshis, which you can then transfer to your wallet.
However, although it may seem like an easy and simple process, remember that you will invest your time. So you should first analyze the conditions offered by each website to assess whether it will be worth it or not. Also keep in mind that these pages deliver very small rewards. Hence its name faucet or source.
Now surely you have heard about the ability of the faucets to generate a lot of money and at this point you wonder, is it true? Well, we will answer this question below.
Can a faucet make you rich?
One of the things that is often said about faucets is that they are an easy, fast and simple way to make a lot of money. But how true is this? Well, let's examine the facts a bit.
First of all, we know that faucets from the beginning gave their visitors small amounts of money. Take for example the first faucet created by Andresen. This faucet delivered 5 bitcoins for each task you did on the web. At this point you will say: Wow! 5 bitcoins are more than 40 thousand dollars now. But the truth is that in 2010 5 BTC was just a couple of pennies. We can extrapolate the situation to the present day, where the faucets of Bitcoin, and many other cryptocurrencies, hardly give you pennies for each task carried out. In other words, the faucets only give you a few BTC satoshis or the equivalent in other cryptocurrencies, and they are not free. In short: you pay with your time. There is no way to get free bitcoins.
So we have that today, faucets have become more of a business and many of them are a clear scam. Today's faucets are web pages that distribute small amounts of Bitcoin or other cryptocurrencies to users while they perform different tasks. Generally these tasks range from seeing a series of announcements and publicity to the users themselves, to the request for personal data and referral systems. Also going through cryptocurrency mining through websites and other kinds of malware scams. All these activities generate great income for the faucet administrator and in return he gives you a few satoshis and on many occasions they do not give you anything.
So the clearest answer to whether a faucet can make you rich is a resounding: No! In fact, since Bit2Me We advise you to stay away from these websites if you do not understand what you are doing, since many of them are insecure and the profits offered are very little for the risk you run when entering them. If on the other hand you want to obtain cryptocurrencies and thus test the power of Bitcoin, you can go to a faucet of Bitcoin Testnet and test (with worthless coins) how Bitcoin works and its immense power. We below have put a list of some faucets that are operational.
Usefulness and importance of Bitcoin faucets
Bitcoin faucets were first developed as a way to promote and publicize the cryptocurrency. The idea was introduced by Gavin Andresen and was accepted by him Satoshi Nakamoto.
Find the model you want in Bitcointalk.org forum you can read a conversation between the developers. Where Andresen informed the community of his first project to grow the cryptocurrency. Giving users free coins in exchange for completing certain tasks. They could then use them to find out how the system worked. At that time, there were no exchange houses, so buying bitcoin was somewhat difficult for most. Thus, this method turned out to be quite viable and simple to reach the cryptocurrency to more users.
So faucets operate as an effective method of introducing people to the concept of Bitcoin. Without the risks involved in investing in them.
Characteristics of a faucet
- Cryptocurrency faucets give rewards to users for watching advertising and completing tasks. However, these rewards are very small and will not give you to make great quantities of money as many make see.
- The supplier of the faucet makes profits from the advertiser and through other means such as web mining. It is thanks to these earnings that you can receive the money that the faucet promises.
- Most of the faucets are free to use for any user anywhere in the world. However, there may be restrictions for certain countries.
- Many of these websites can end up being a simple scam. They may not allow you to withdraw your winnings.
Risks when using a faucet
First of all, it should be noted that although you can get a certain amount of coins, it will never be enough to live or pay the rent. Maybe you can come to pay for a coffee after much effort. To see results on these types of pages, you must have a lot of time and patience. So it is not a profitable activity to which you can dedicate yourself.
Having clarified this point, we must also bear in mind that there may be other risks involved with the use of this type of website. For example malicious files like malware or virus. Since many faucets can request us as a task, the download of some type of file or document to obtain the offered rewards. And that malicious software that can affect our computers is hidden in these files.
Think about it: if you want to use a bitcoin faucet, it is extremely likely that you have a bitcoin wallet, right ?. Well, a criminal can promote an incredible faucet that requires you to install software. That software will be nothing more than an infected program that will steal your device's wallet, and with it all your cryptocurrencies.
Just as files can contain malware, the advertising and fake ads They can also hide this type of software. As we already mentioned, the faucets are supported by advertising, so the more ads they publish the higher profits they will have. Thus, it may turn out that they end up placing false advertisements and misleading advertisements contaminated with viruses that damage or affect users' computers on their websites. Or that they steal important data and information from them.
Likewise, some faucets may use our personal information that we provide when registering. Delivering our email address may also result in later phishing attacks where we receive emails with threatening messages or viruses dedicated to scams. Last, but not least, is that the faucets themselves can end in fraud. Where we will lose all our time and money accumulated to not being able to withdraw the reward to your own address. They will also end in a scam, those websites that request a deposit in advance with the promise that we will receive more profits in the future.