Bitcoin

Right after the emergence of bitcoin, the only way to acquire any was to mine it yourself or hope that your friends or family members would mine and share some with you. 

In 2010, Gavin Andresen, the lead bitcoin developer at the Bitcoin Foundation, took up a coding project that included literally giving away the Bitcoin. This was when he developed the first ever faucet bitcoin, and named it the bitcoin Faucet. 

In fact, it gave out 5 bitcoins for solving a captcha, so he distributed more than 19,000 Bitcoins. 

The main reason he started distributing bitcoins is that, at that time, the stores of Bitcoin were mostly for a small group. This was the best way to increase awareness and the use of crypto, as more and more people had access to them thanks to the distribution. 

How much were bitcoins worth back then?

Back in 2010, 5 bitcoins were worth a penny. Andresen initially loaded more than 1000 bitcoins, then gave away 19,700 BTC. Today 19,700 bitcoins are worth $186,066,106!

The users of bitcoin helped it succeed in the long run. Seeing the success of Andresen’s faucet bitcoin, many others developed. However, not all bitcoin faucets give the same amount of bitcoins. Most of them give Satoshi each day. That’s why it’s a good idea to browse the internet and find the websites and apps that can give out the maximum amount of Satoshi.

Modern-day faucets

Nowadays, there are many faucet websites and apps available for anyone. All you have to do is find the ones that are safe to use and get faucet bitcoins by completing simple tasks. The latter include watching videos, playing games, conducting surveys, downloading apps, participating in quizzes, and many more.

You can earn bitcoins by displaying advertisements and increasing the time people spend by adding captchas and timers. In fact, the more the user stays on the website, the higher ad revenue they get.

Are bitcoin faucets legal?

You may think that bitcoin faucets are too good to be true. How can one complete simple tasks like watching a video or an ad and get bitcoins so easily? Well, faucet bitcoins are not the only ways that offer something for free online. 

It is just seen as a marketing tactic that many companies have started using lately. There are hundreds of similar websites and apps that offer stuff for free, and guess what? They are completely legal.

Is the faucet bitcoin safe to use?

Yes, faucet bitcoins are safe to use. However, you should be extremely careful when using them. There have been so many cases of fake faucets and scams on the internet

Some bitcoin faucet websites and apps promise to give their users free bitcoins and other cryptocurrencies, but they want you to upload your crypto to their website. They also offer 100% deposit bonuses to attract you and make you deposit your cryptocurrency.

Other websites promise their users to give them bitcoins, but never keep the promise. They manipulate the bitcoin market and serve as a cover for illegal activities such as money laundering.

Besides, the reward you can get from faucet websites is sometimes small, and the time and effort needed to complete the tasks outweigh the rewards.

Suppose you want rewards for completing simple tasks, research, and finding reliable websites and apps. To help you with this task, you can visit cryptocurrency communities and ask for advice. Besides, you can read sub-Reddits and forums about faucet bitcoin and mention suspicious websites.  

Conclusion

As you can see, faucet bitcoin became more popular in 2010, when Gavin Andresen gave away more than 19,700 bitcoin to the users of bitcoin faucets in order to spread awareness. Back then, 5 BTC was worth a penny, but now it is more than $10,000.

Modern-day faucets are also websites and apps that reward people for completing simple tasks, such as watching videos, playing entertaining games, filling in surveys, downloading apps, taking quizzes, and so on. 

It should be noted that not all websites and apps are safe for getting rewards. Sometimes the website owners become scammers and never give the promised rewards who have completed the required tasks. That’s why using trustworthy websites and apps is important to earn your reward. 

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