Are Bitcoin Faucets A Scam?

Are Bitcoin Faucets A Scam

Bitcoin faucets have traditionally been a popular way for newcomers to Bitcoin to get their first small amounts of Bitcoin. Find a good faucet rotator and you could theoretically earn a decent amount of Bitcoin by remembering to hit the faucets every hour or so.

One potential problem with this, though, is that faucets are sometimes accused of being scams designed purely to earn advertising fees for the owners with no intention of ever actually paying out.

This may not be an unfair assessment considering that the amount that users can claim per time interval (which can vary from 5 minutes to 1 day) is so small and the typical minimum payout is so large that many users give up before they reach the minimum payout.

It takes an enormous amount of patience to get anywhere, especially when the amount that can be claimed is tied to the value of Bitcoin, which is what FreeBitco.in does. I’ve gotten payouts out of FreeBitco.in before, but that was when a Bitcoin was worth something like $400, which made the payout per claim higher. Now that Bitcoin is worth over $9,500, it takes so long that it’s easy to see why people give up or forget about it before they get their first payout.

*Make Money with Cryptocurrencies Here

Advertisers Should Think About Strategy

Because faucets are most popular with the newcomers, they may not be too inclined to click on the advertisements. They may not know what an ICO is and may not be too inclined to gamble beyond rolling the virtual dice on FreeBitco.in a few times just for the fun of it.

So faucets tend to generate impressions but maybe not so many clicks for advertisers. This makes faucets about as low-quality as you can get when it comes to publishing other Bitcoin venues’ ads.

Maybe this doesn’t technically count as a scam because advertisers pay for impressions and get impressions. However, I could see the users of Bitcoin advertising platforms jumping over to one that charges only for clicks because then they wouldn’t be draining their marketing budgets by paying faucets for impressions.

I suspect that when FreeBitco.in was still running Google ads, it had to move one ad box because somebody reported it for putting it in a place that made it very easy to accidentaly click on the ad if the page budged at all. (It is against Google’s rules to trick people into clicking on an advertisement.) For this reason, I liked the idea behind NXT Ads even though it seems to have gone out. NXT Ads was an advertising platform in which advertisers could pick and choose which websites they wanted to advertise on.

This doesn’t mean that advertising on a faucet can’t work. I’ve seen advertisements for other faucets on the faucets that I used to frequent. It works because it assumes that the people who see that ad already use faucets and are, therefore, more likely to click on a banner ad for a faucet so they can check it out.

So if your website includes a faucet, then advertising on a popular faucet can be a good way to get people to your website and they may decide to check out what you have to offer while waiting for the next payout. Otherwise, be ready for a lot of worthless impressions and low quality traffic on your website if you get any clicks at all.

How To Make Money With Faucets

Is there a good way to make money with faucets, though? You could, if you are willing to make use of their affiliate links and convince newcomers to at least try them.

Again, this takes patience, and it also takes a fair amount of persuasiveness and willingness to avoid spamming. A tasteful way to handle this, for instance, is to organically drop an affiliate link to a Bitcoin faucet into an article that you’re writing about Bitcoin faucets.

Just be prepared for the idea that Bitcoin faucets may be on their way out for everyone except the people who have copious amounts of time on their hands and can endlessly hit the faucet rotators while they daydream.

They may live in a region where the unemployment rate is high and the cost of living is low enough that getting drips out of the faucets may be seen as better than nothing.

Maybe most of them aren’t scams, but very few people will stick around for long when they’re only getting dust out of something that they spend a lot of time on.

Thanks for reading!

There are Fortunes Being Made Every day with Bitcoin and Cryptocurrencies – Watch Video Here    

 

~

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.