Bitcoin Faucet: What is Bitcoin Faucet and How To Get Some

in #bitcoin6 years ago

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If you have been into bitcoin for a while then you must have heard of the word bitcoin faucet. And if it’s your first time of hearing about faucet, well here is a chance for you to get to understand what it means.

WHAT IS BITCOIN FAUCET

Bitcoin faucet is small units of bitcoin. Take it this way, the American dollar is made up of cents. In reality 100 cents make 1 dollar. In like manner bitcoin faucet is the cent to bitcoin. While 100 cents make up 1 dollar, about 100,000,000 faucets make up 1 bitcoin. To further understand this analysis let’s try a real world example and we’ll still be using the cent and dollar example.

Let's get the analysis from a real life scenario. The Dollar starts to count from 0.00,0.01,0.02 and so on. However bitcoin starts counting from 0.00000000,0.00000001,0.00000002. So it will take approximately 100,000,000 faucet to make 1 bitcoin.

Bitcoin Faucet is the small tiny particles that eventually make up a complete bitcoin. When you mine, you are paid in faucets that gradually turns into bitcoin. So to make bitcoin, you have to make lots of faucets.

The above is what Faucet is and in my next article I'll be discussing about how to earn free faucet and gather these faucets over time to make good bitcoin.

Source: https://www.mntrends.com/2018/08/bitcoin-faucet-what-is-bitcoin-faucet-and-how-to-get-some.html/