Hi Guys

If anyone here would have some advice or has experience on hosting a cryptocurrency faucet please share your thoughts.

Additionally what does it entail and do you need to keep it running purely from paying advertisers?

Regards,
Kamil

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RobW2 Premium
Currently a very hot topic - I look forward to some answers!
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Kambas Premium
Too hot Rob! :)

I have stared posting info on my website and will be doing a series of articles on faucets. Bitcoin and Altcoins.
You welcome to join the discussion in the comments and you can PM me anytime should you need help.

You can also ask Beau, he knows better than me where to invest.

So far 99% of what I offer costs R0 to start.

Regards,
Kamil
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BeauAndNik Premium
The main purpose of a BTC faucet is to introduce new people to the world of crypto.

Essentially you would create a site that drip feeds a certain amount of satoshis to users who then preform specific tasks.

The way you make money is through advertising. You would need a certain amount of BTC to begin with.

The difference between the cost of BTC and the money you get from advertising would be your profit.

Using this model, the site would need to generate a lot of traffic to make the revenue of advertising viable.

You could look at using a referral system to produce more traffic to your site.

This niche is highly competitive so you would need a lot of traffic to make any money from a system like this and there are already a lot of well established faucets on the market.
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Kambas Premium
Thanks so much for this insightful feedback Beau, much appreciated ;)

I noticed that people are always looking for more faucets to join so if the theme is right and some extras like bonuses or accolades or achievements, little things that people like would stick out from the competition.

A recent one I found was ClaimWithMe but it looks to be a SCAM unfortunately, was too good to be true anyway but I tried it out, did not invest so I can get a taste what people are drawn to and those small extras they like so much. Referrals is definitely the way to go, don't think many of them would survive without an affiliate program.

Less competition with alt-coins but then again everyone is hunting BTC so again there is a balance to consider here I guess.

Thanks again for the info Beau and hope I can bother you now and again for Bitcoin advice? ^^,

Best regards,
Kamil
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BeauAndNik Premium
Any time Kamil. Glad I could help :)
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SuzaMarie Premium
Hey Kamil! You may want to reach out to BeauAndNik and MoneyIdeas11. BeauAndNik wrote a post "My Adventure in Crypto Currency Bitcoin." MoneyIdeas11 had an interesting reply. He's active in Crypto Currency.

Good luck with it. I'm curious to see what you find out.
SM
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Kambas Premium
Thank you very much Suzanne.

Just wrote back to Beau, he replied very quickly!

Will view the post and get educated some more before I delve into a faucet operation :)
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WilliamBH Premium
Yes .. overwhelmed by the silence! A good question Kamil .. and I have no idea! Cheers, William.
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Kambas Premium
No worries William, hopefully someone will add something here eventually :)

It's a scarce topic since most people like myself are still learning about BTC, crypto, faucets etc.
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ToLiNoLi Premium
6 likes and no one writes, well I do not know what to add either, but I am interested in this topic too. I like to work with Bitcoin using it on my upcoming web projects.

So hosting, yeah if it is good for business, I am all ears. :)
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Kambas Premium
Hey Stefan! ;)

How you coping with Batman, has he escaped yet?! :p

This is definitely a great subject to learn, quite exciting and I have collected some good Satoshi amounts from faucets already and did a few withdraws... and bumped into a few more scams! ^^
So will be doing some reports on my site.

Would be nice to have someone experienced give us a rundown on faucets here.
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ToLiNoLi Premium
BeauAndNik might be able to help us with that, he has a lot of experience working with BitCoins. Perhaps he is listening in?
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Kambas Premium
Yep he was, he has a Bitcoin crypto radar! :D
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