Bitcoin is a decentralized digital currency that enables instant payments to anyone, anywhere in the world, without any fees. Bitcoin uses peer-to-peer technology to operate without any central authority or bank. The transaction management and money issuance are carried out collectively by the network.
What is a Bitcoin Faucet?
A bitcoin faucet is a website where users can claim a small amount of free bitcoins. These websites usually get funded by donations or different advertisements. The amount of free bitcoins, or satoshi (smallest fraction of a bitcoin BTC 0.00000001) you can get, varies from site to site. They also use different timers to claim. There are websites with 1 minute up to 24 hours timers. An other great thing on bitcoin faucets is, that you can invite your friends to use these faucets, and get a referral commission from them. Depending on the website you will get a commision between 5% and 100%. Thats correct some great faucets pay up to 100% commission, this means every time someone you have invited claims free bitcoins, you will get the exact same amount for just inviting them! There are daily new faucets coming and going. We always filter the best for you, so make sure to check out our permanently updated list. We look for the best earning websites and share them with you!
Bitcoins and Satoshi?
A satoshi is a small fraction of a Bitcoin. The unit has been named "satoshi" in collective homage to the founder of Bitcoin, Satoshi Nakamoto. Satoshi are to Bitcoin like Pennies are to Dollars.
1 Satoshi = 0.00000001 ฿
10 Satoshi = 0.0000001 ฿
100 Satoshi = 0.000001 ฿
1,000 Satoshi = 0.00001 ฿
10,000 Satoshi = 0.0001 ฿
100,000 Satoshi = 0.001 ฿
10,0000,000 Satoshi = 1 ฿
Payment freedom - It is possible to send and receive any amount of money, small or big instantly anywhere in the world at any time. No bank holidays. No borders. No imposed limits. The bitcoin network allows its users to be in full control of their money.
Very low fees - Bitcoin payments are currently processed with either no fees or extremely small fees. Users may include fees with transactions to receive priority processing, which results in faster confirmation of transactions by the network. Additionally, merchant processors exist to assist merchants in processing transactions, converting bitcoins to fiat currency and depositing funds directly into merchants' bank accounts daily. As these services are based on Bitcoin, they can be offered for much lower fees than other services or credit card networks.
Fewer risks for merchants - Bitcoin transactions are secure, irreversible, and do not contain customers’ sensitive or personal information. This protects merchants from losses caused by fraud or fraudulent chargebacks, and there is no need for PCI compliance. Merchants can easily expand to new markets where either credit cards are not available or fraud rates are unacceptably high. The net results are lower fees, larger markets, and fewer administrative costs.
Security and control - Bitcoin users are in full control of their transactions; it is impossible for merchants to force unwanted or unnoticed charges as can happen with other payment methods. Bitcoin payments can be made without personal information tied to the transaction. This offers strong protection against identity theft. Bitcoin users can also protect their money with backup and encryption.
Transparent and neutral - All information concerning the Bitcoin money supply itself is readily available on the block chain for anybody to verify and use in real-time. No individual or organization can control or manipulate the Bitcoin protocol because it is cryptographically secure. This allows the core of Bitcoin to be trusted for being completely neutral, transparent and predictable.