Faucets are not forms of investment

Faucets are not forms of investment

By MikeZillo | Smart Crypto Investing | 9 Oct 2020


The faucets were born as an advertising medium to introduce a new cryptocurrency to the masses.

Famous faucet was that of Andersen, of the site "The Bitcoin Faucet", by simply registering on the site and entering his wallet address, 5 BTC were credited. Without fees!

Clearly, being an advertising vehicle, the coins are "given away" for purely cognitive purposes so that, beyond the White Paper, a person can realize the solidity of the project or not.

If a faucet is applied to a currency that is already known, it is first necessary to carry out checks as there could be vicious circles to obtain them; or they are up for grabs as a lottery, as in the photo below.

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First of all let's talk about BTC and not about a newly minted coin that has to be launched;  to have a fraction of BTC (at most $ 200 per hour), you need to register and start a device similar to a slot machine.

This free form to get some Satoshi is to be taken as a game given the negligible amount of satoshi that are offered for each claim.

Out of curiosity, I attended one, and within 1 hour I totalized 15 Sat. … It wasn't a rich booty.

Let's develop the reasoning.

If we search within the page of any faucet, we find an affiliate link.

Well. With this link we can inform other people who can, for free, receive small portions of satoshi. And this is the way the launcher of the Faucet tries to make early adopters of the faucet to spread the word and share the news about the coin.

 

Is playing with the Faucet really worth it?

 

Well, in my opinion it is not. It’s just a funny way to discover new coins or tokens and to get some innovative marketing ideas about how to spread new projects.

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MikeZillo
MikeZillo Verified Member

Daily Trader, Mining Farm Project Manager, Blockchain consultant, Cryptocurrency evangelist. You can find more videos here https://www.youtube.com/channel/UCvyXx6I1C__zmLAYUXNZwQQ? Telegram: @mikezillo


Smart Crypto Investing
Smart Crypto Investing

In this section I am going to write about smart ways to create passive incomes and active incomes through cryptocurrencies besides of course news, technologies and projects I am involved in. Anyway, the smart crypto investor is not just a crypto investor, but is someone willing to diversifiy among different businesses. And that is what I am going to talk about. From a multi-year experience in the field of business development and finance, here I am!

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