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Risks of using Bitcoin or Crypto related Faucets.

Published: June 6, 2017 | Admin
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The main purpose of this article is to offer a guide when using bitcoin or crypto related Faucets, understanding the downsides and risks involved. The concept of these sites is a homepage full of advertisements or ads and complete small tasks. That may be solving a captcha, watching a short video, answering a question, etc. With these small tasks, you get a very small reward also, often a few hundred or thousand satoshis in a particular time. If you will ask where do the owners of this sites get their money to pay their users, they get it only from advertisements running or shown to you on their sites.

Risks Involved!

  1. Large Transaction fees because of Dusty inputs
  2. The most common problem when using faucet sites is small payments or dust or micro payments. Because every time you received a Satoshi from faucets to your wallet, you will have a new input that you will send it later or sooner. Imagine if you have a lot of micro payments received from faucets and once you make a transaction to send to any Bitcoin address. It will composed of different inputs, example, if you will send 0.005 BTC to address B, then you have many micro inputs from faucets that will compose in a total of 0.005 BTC. Remember that, the more inputs in a transaction, the larger the transaction fee. Same with, the larger the size of your transaction in terms of size per byte, the larger the transaction fee.

  3. Downloading files or apps
  4. Some faucets require you to download any sort of app for phones, executed files to your computer to be able to give you rewards. Some of this apps or tools are hidden or injected some trojan horses or some malware and sometimes anti-virus didn't know yet know this malware, so often our devices are infected so you really need to update your anti-virus frequently.

  5. Fraudulent faucet owners
  6. Commonly when using faucets, we have to give our time to collect Satoshi in any faucets, because it takes time to collect before we meet the minimum withdrawal of the faucet. So it happens when you reach the quota to be able to withdraw, there are instances that when we withdraw the earned Satoshi, it didn't go to our wallet address. And sometimes the minimum withdrawal increasing when you reach the quota, and it happens again and again, so you have to stop using this faucet.

  7. Malicious ads aka malvertising
  8. Malvertisement is a kind of ad that can infect your device. Frequently it is not made by the owner of the faucet, but from a third party who offers to an advertising site or company. This is commonly a problem for many of the site's homepage running ads so that adblockers was invented due to these activities. And because you can only earn from bitcoin faucets then you had no choice but to increase the security of your device and having strong anti-virus.

  9. Clickbait
  10. Clickbait is as close to malvertising. It's designed in a way that you want to click the ads or the link. Many techniques can help here. Sometimes it lures you with promises of free bitcoin, free money, sex, etc. Sometimes it warns your devices, like your OS system, is outdated you'll need to do it, or your have an infected system OS, so you need to download this and that. Then once you click on that link, you will be redirected to a different landing page that does not match with the said on the link, and it's just a click bait.
Hope this will help a lot to you. Thanks for coming here.

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