Things you need to know about bitcoin faucets

Actually, the bitcoin faucet is a website and it offers you with minimal quantities of BTC in interchange for performing easy tasks such as solving captcha or watching advertisements. In simply, the bitcoin faucet is actually a reward system that distributes the prizes in a kind of small portion of BTC for people to claim. The type of bitcoins that these sites provide is called as satoshis. This satoshis is a least imaginable amount of bitcoin. Here, one bitcoin is equal to hundred million satoshis.

How does the bitcoin faucet work?

In the bitcoin faucets, the rewards are in a position to impress a lot of visitors. Typically, the faucet owners are depositing some quantity of BTC into their crypto currency wallet. This wallet is then linked to their faucet sites. Normally, the users want to register on a crypto faucet. In order to perform this, they want to enter their personal information and wallet address too. After finishing a task on such website, the earned rewards are directed to a micro wallet. However, this wallet is as same as conventional wallets and it is only capable of holding the least quantities of BTC.

The great idea about bitcoin faucets

The great idea of bitcoin faucet was initially born in the year of 201 by the leading software developer in America named as Gavin Andresen. He actually invented this reward system to promote a bitcoin to the wide audience. After many years, the basic intention of making crypto currency faucets has altered. Even the creators of bitcoin faucet can utilize it to make money from the ad settlement. Nevertheless, still they bring some sense of informational and promotional operations. The reward amount paid on multiple tasks on diverse faucets is based on various factors such as complexity of action and frequency of action.