Bitcoin Faucets

The rise in popularity of Bitcoin and cryptocurrencies in general has lead to the creation of many Bitcoin generators known as 'Bitcoin faucets'. These are basically services which give out free bitcoins in exchange for performing specific tasks such as filling out surveys, watching advertisements, signing up to services and more. For most cases these are considered a waste of time because the amount of bitcoins you receive vs the time you spend is negligible. The only exception is if you leave advertisements on in the background and manage to keep it active, although most Bitcoin faucets can now detect and prevent you from doing this.

They are usually advertised as a rewards system in the form of a website or app but as with all business models like this, remember that they earn a lot more money than you're getting for your efforts. Bitcoin faucets get most of their income from advertisement revenues on their website. But even then the profit margins are incredibly small unless they achieve a large amount of cheap traffic, so it makes sense that users won't get that much from rewards. It's a highly competitive and saturated market.

You may be rewarded around 5 bits for each advertisement you watch or 200 bits for filling out a 15 minute survey - the equivalent of 1 bit is 0.00000001 BTC. These rewards are typically dispensed after you reach an X amount of bits to a Bitcoin address of your choice.

Regardless of whether Bitcoin faucets a good time investment, they are definitely beneficial to growing the Bitcoin community. Those who are new to the concept of digital currency By introducing new people to the concept of Bitcoin and providing them small amounts to experiment with, it will educate web users about the idea and the benefits of using it instead of fiat money. You can think of it as a "try it before you buy it" type of system.