Sorry, I Turned Off My Bitcoin Faucet (Because Money)

Ofir Beigel is the general manager of 99 Bitcoins, an informational site for newcomers to the space.

In November 2015, I started operating 99Bitcoins’ faucet. Almost three years later, on Oct. 8, I shut it down.

Throughout its history, the faucet paid out over 12.795 bitcoins to its users. Here’s its story.

What are cryptocurrency faucets?

Faucets are a type of website that work on traffic arbitrage. It means you “buy” traffic cheap and sell it expensive. It works as follows:

You give site visitors a small amount of crypto every few minutes

You give visitors referral fees for bringing in new visitors

You get paid by advertisers to show ads to your visitors

As long as “Money paid to visitors”

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