What is a Bitcoin Faucet?
Bitcoin Faucets are a way to give out free
bitcoin, the aim being to increase the popularity of Bitcoin (or other
As Bitcoin has increased in value, less and
less people are willing to just 'give away' what is becoming a valuable
commodity, so Faucets are becoming a less common sight, and the ones that
do still exist usually require some form of interaction in exchange for
is one of the few legitimate Faucets remaining, and it is possible to earn
a few Satoshi's every hour, which eventually add up to a usable value.
Other ways to get 'FREE' Bitcoin
As of December 2020, realistically, it is
impossible to mine Bitcoin with a standard PC or Laptop, so free Bitcoins
are no longer a realistic proposition for most people. Other
Cryptocurrencies such as Dogecoin, Litecoin or Ethereum may be more
sensible mining options.
What does BTC mean?
BTC simply stands as an abbreviation of the
word Bitcoin, in the same way that USD is an abbreviation of United States
What is a Satoshi?
A Satoshi is the smallest possible unit or
'fragment' of a Bitcoin, 0.00000001 of a Bitcoin = 1 Satoshi
As Bitcoin increases in value, an
individual Satoshi is becoming increasingly relevant as a reference value,
it is likely that smaller transactions will eventually be expressed in
Satoshi rather than BTC, much as we currently refer to Pounds/Pence or
Dollar/Cent as comparable values.
The fact that BTC runs to 8 Decimal places
makes expressing smaller amounts of BTC difficult, ie .0.0000010BTC can be
more easily described as 10 Satoshi.