Bitcoin faucets are kind of a reward system that comes in website and application. It dispenses the rewards as satoshi. It is supposed to be the hundredth of millionth Bitcoin currency. Bitcoin faucets also dispense different forms of crypto currencies. In 2010, Gavin Andresen has developed the first bitcoin faucet called as bitcoin faucets. For each person, it could dispense five bitcoins. One needs to complete the captchas, for which the players will be rewarded. Many Faucets have larger rewards randomly. There is a referral system in bitcoin faucets where the existing users can refer new players to get pro data portion of the earnings from the new players.
The internal working of Bitcoin Faucets
Based on the legality of bitcoin by country, the legal status of the bitcoin faucets vary by jurisdiction. Payment processor/manager is integrated to set up bitcoin faucets. The payment manager’s crypto currency wallets are loaded with the bit coins by the owner of the bitcoin faucets. Based on the kind of operation, the payouts for the visitors are given out. The main income source of bit coin faucets are the advertisements. Free Bitcoins are given as incentives to the users by the faucets, to get traffic across the globe. Many ad networks pay the faucets directly.