What are Bitcoin faucets?
The first and lowest risk way to make money with Bitcoin is starting your own Bitcoin faucet. The business model behind bitcoin faucets is simple, monetize the traffic via ads on the site.
When you sign up to the site with either your bitcoin address or your email or both, you are presented with a captcha to fill in order to receive a small amount of bitcoins.
Bitcoin faucet is a website that gives out a small amount of Bitcoins to its visitors. The amount can vary anywhere from 100 Satoshis (0.000001BTC) up to 10,000 Satoshis and more (0.0001BTC).
Usually after you receive your coins you need to wait a certain amount of time until you can ask for another.
You may be asking yourself why people give away free Bitcoins. Well, they do that for the following reasons:
1. They are trying to popularize the bitcoin concept.
2. To make money from it.
How can one make money from Bitcoin faucets?
Faucets will let you earn a percentage of the Bitcoins they give away to visitors you brought in.
Bitcoins are given away when the site visitor performs an action on the site such as completing a puzzle or playing a game.
Also gains are gotten through the overwhelming amount of ads placed all around website. This method is so successful that it’s the main traffic source for most faucets.
At this point you may be thinking, “Hey I can make lots of money by visiting faucets!” but that is just practically impossible.
Even if you sit at your computer 24 hours a day, claim a new batch of coins every 30 seconds and manage to find only faucets that are paying a whopping 10,000 Satoshis you would still only be making a maximum of 0.0024 Bitcoins a day which is about 70cents.
Another thought that may pass your mind is, “So maybe I can make a lot of money by creating a faucet!” Well, this may be true, but you’re going to need A LOT of traffic in order to generate substantial revenue.
How to Create Your Own Bitcoin Faucet
So now it’s time to create your own Bitcoin faucet! There are three major ways to own your own bitcoin faucet
- Creating your own faucet without coding
- Buying an already existing bitcoin faucet
- Creating a bitcoin faucet through custom coding
Creating a Bitcoin Faucet without coding:
This method is by far the easiest as it involves little technical know how. All you need to do is simply is go to Faucetfly, fill in the required information and follow the laid down steps.
In about 5 minutes your faucet will be ready. It is just like creating a website with WordPress. Create my bitcoin faucet without coding.
Buying an existing bitcoin faucet:
This is also another easy means of owning your own bitcoin faucet. Oh yes, faucets are for sale and this is because not everyone can grow his or her faucet to be profitable.
If you interested in this method, then it involves you going to Flippa, which is a website dedicated to the purchase and sale of other websites. Just type in “Bitcoin faucet” under the “keyword” category and you’ll see a list of bitcoin faucets that are up for sale.
It is very important that you examine the stats and the specifics of any faucet you are interested in before making a bid.
This is make sure you don’t run the risk of purchasing a faucet with an already damaged reputation.
Creating a bitcoin faucet through custom coding:
This is the most difficult method of creating a bitcoin faucet because this involves some level of coding. This also accounts for the rapidly declining popularity of this method.
It involves about 7 steps. If you are interested in creating your own bitcoin faucet, take a look at this step by step guide.