Bitcoin (BTC) is a cryptocurrency, a form of digital cash. It is a decentralized electronic currency without a central bank or centralized administration that can be used from user to user on the peer-to-peer bitcoin blockchain network without the need for intermediaries. It was invented by an unknown person, or a group of persons, under the name Satoshi Nakamoto, developed and released as open-source software in 2009. The system is peer-to-peer, and transactions occur between users directly, without an intermediary. All transactions are verified by network nodes and recorded in a public distributed ledger known as a blockchain.
Besides being created as a reward for mining, bitcoin are often exchanged for alternative currencies, products, and services. On february 2015, over 100k merchants and vendors accepted bitcoin as payment. Bitcoin can also be destined as an investment. in line with research made by university in 2017, there are from 2.9 to 5.8 million unique users using a cryptocurrency wallet, most of them using a bitcoin wallet.
What is Bitcoin Faucet?
Free Bitcoin faucets are a reward system, in the form of a web site or app, that dispenses prizes in the form of a satoshi, that is a hundredth of a millionth BTC, for visitors to claim in exchange for completing a captcha or task as delineate by the web site. There are faucets that dispense different cryptocurrencies. Rewards are distributed at various preset intervals of time. faucets typically offer fractions of a bitcoin, however the amount will usually fluctuate in line with the value of bitcoin.
Free Bitcoin faucets are an excellent way to help introduce new people to bitcoin, or to your favourite altcoin. several faucets offer info to newbies as well as offering them some free coins so they can try before they purchase, experimenting with a test transaction or 2 before putting real money on the road. Since this whole space is so new and a small amount scary to some people, who maybe don't quite trust it with their hard-earned money yet, this can be an excellent way to promote digital currency and attract new users.