Bitcoin Basics: What is a Bitcoin Faucet? (Hint: Money Flows!)

Hand with red nail polish holding a gold bitcoin.
You can get tiny, tiny amounts of altcoins for simple tasks from a bitcoin faucet.

We’re all familiar with loyalty programs. Use this card for this purchase, fill out this survey, shop this sale, click this link, and we collect points, or bonus bucks, or whatever companies call the little tokens we accumulate in the course of basic commerce. You probably have five or six different loyalty programs you juggle, or perhaps rack up without you noticing. But what if companies stopped goofing around with “points” and gave you cold hard cash? Bitcoin faucets do just that.

Bitcoin faucets are sites and companies that pay you very small parts of bitcoin for doing basic tasks. Remember, bitcoin can be divided up to the hundredth of a millionth, or 0.00000001 of a bitcoin, called a satoshi, and the vast majority of altcoins follow suit. Even at the highest price, that’s a fraction of a penny for bitcoin, so it’s dirt cheap for companies to hand these out.

At the moment, bitcoin faucets are little more than ways to get you to look at ads for a set period of time. It’s not a bad way to get a small foothold to start trading small amounts of an altcoin without investing any money, so if there’s an altcoin you’re interested in, finding a faucet isn’t a bad idea. But that’s thinking small. Consider this. If corporations decide they’d rather give you fractions of a penny for your points, you could soon be earning small amounts of money for swiping a card. So keep an eye on those faucets.

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