Bitcoin Faucets are mobile or web apps that after every few minutes dispense a small amount of Bitcoin, usually in Satoshis for doing some task. Because these sites are giving away free money, they have become quite popular in recent years. Initially, faucets were created to spread the adoption of Bitcoin and teach about the technology. The first Bitcoin faucet was made by the Bitcoin Core developer Gavin Andresen which used to dispense five whole Bitcoins to each user. Since then, faucets became more business-oriented rather than providing knowledge or means of adoption. The bitcoin faucets industry in itself is worth thousands of dollars, but are such sites really profitable to operate?
Not using a default faucet script
Websites using default faucet scripts usually suffer losses, and only a few of them survive over a year. Besides, if you go for free faucet scripts, they might prove to be an additional risk to your profitability. Free faucets scripts are good to run experiments and come with limited features. They usually don’t generate revenue, and the owner ends up giving more than his earnings. Instead, buying a script such as the ones from gr8.cc would likely be effective in the long run, and if you can code then this already is a plus point.
Add a login page
Adding a login page to your faucet not only gives access to valuable data but also helps build a community. Forcing users, every time they visit to do tasks or claim from the faucet, can reduce the bounce rate and provide better ways to target your audience. This feature is present in various faucets and makes a website look appealing and worth the try. A login page can also help your faucet in the following ways;
- Provides an additional layer to prevent bots
- Helps in reducing the bounce rate, which is good for your SEO
- Make your website more engaging and improve its functionality
Adding games, along with faucets or blogs, is becoming popular among webmasters since it increases user retention and brings in additional revenue. Besides, you can also add a forum or chat to do the job. You can also reward users for playing games, or actively engaging in chat or forums to maximize the earnings from your traffic.
Come up with something new
If you know programming languages, you can easily come up with something new. Several faucets have a diverse idea to claim Bitcoins. Why not create a faucet where a user has to shoot bottles, and each bottle contains some Satoshi? In other words, try switching from traditional ways of claiming from the faucet and brainstorm ideas that can bring in more users within a short time. Some ideas can include,
- Selecting several colors with each color containing random rewards
- Creating a virtual mining game
- Any other 2D game, such as those falling under the racing or arcade category
Consider Altcoins faucets
Moving away from Bitcoin faucets might also be a lot of help for many faucet owners. Bitcoin price has skyrocketed to over $6000 and giving few Satoshis doesn’t appeal to many users unless you have something unique or has been in the market for long. Honestly, 0.4 Dogecoin or 0.25 XLM sounds much better than 0.00000020 Bitcoin, even though you are paying the same amount in Bitcoins.
However, many Altcoins are volatile in price and can suddenly pump or dump, forcing you to put extra effort into maintaining your balance. As a solution, you can make API calls to Coingecko and fix the rewards in USD. There are also several other ways that can help to create a profitable Bitcoin faucet such as cross-marketing or adding banner rotators.
Making a profit from the Bitcoin faucet can be difficult in the beginning, and you might be paying hundreds of dollars from your pocket for the first few months. However, with the right strategy and approval from ad networks, reaching some amount of profitability is likely possible.