The number of Bitcoin faucets is existence is much higher than most people anticipate. The concept of a faucet is fairly simple; users get paid out fractions of a Bitcoin for visiting the game or completing a small task. Website owners are making money by showing ads, which will be clicked by faucet visitors. However, not all Bitcoin faucets are legitimate, and Gold Bitcoin is one weird platform, to say the least.
Whenever a Bitcoin faucet starts offering ridiculously high amounts of money for doing virtually nothing, people know there is something wrong with the platform. Gold Bitcoin certainly falls into this category, as the faucet offers between 50,000 and 100,000 Satoshi per claim, which can be made every hour. This would earn users one full Bitcoin relatively quickly, say the least.
To avoid the faucet from bleeding dry, there is a one BTC minimum withdrawal threshold put in place. This means users will still have to make between 1,000 and 2,000 claims to get their money out, translating into about four months of clicking every hour, minus a few hours of sleep. All in all, still a decent amount for doing nothing but filling in a Bitcoin address and watching ads on Gold Bitcoin.
If that wasn’t enough to entice users, there is also a rich affiliate program. Any user visiting this site through one’s personal referral link with earn the affiliate 15% of their claims as well. This bonus will apply for any claim they make during the lifetime of your and their account. This means users have a good chance of earning 15,000 Satoshi per referral per hour. Quite a lot of money to be giving away completely free of charge.
Keeping in mind how most Bitcoin faucets will earn money based on their advertisements, things get fishy where Gold Bitcoin is concerned. None of these advertisements will earn the website owner a lot of money, as most of them seem to come from Google Adsense. Moreover, users only need to open the page once per hour. so it seems very doubtful enough money is being made to cover all of the costs.
Some people might be wondering who is behind Gold Bitcoin, as they must be one of the wealthiest Bitcoin holders in the world. Unfortunately, there is no company information on the website or in the WHOIS records. While that is not uncommon in the Bitcoin faucet world, it is not bringing any validity to this particular Bitcoin faucet by any means.
Website: http://goldbitcoin.biz/faucet
If you liked this article follow us on Twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin and altcoin price analysis and the latest cryptocurrency news.
GSR has formally entered the ETF market with their first ETF, $BESO, which is listed…
While the Dogecoin community has always had its share of news to talk about, it…
In a major development, Bitget Wallet has announced the integration of Polymarket directly into its…
The Aave rsETH/wrsETH market froze abruptly, leading to a rapid series of withdrawals, including one…
Last week saw major investment firm Strategy Inc. (MSTR) bust into the crypto world with…
One of Bitmine Immersion Technologies came out to be the most aggressive in its cryptocurrency…