Bitcoin was cheap and very easy to acquire in the first few years of its inception.
At the end of 2010, programmer #Gavin Andresen bought 10,000 Bitcoins for $50 and created a website known as “#Bitcoin Faucet” which gave out 5 Bitcoins to each user, worth only 5 cents back then.
That move was highly effective. Later on, someone imitated Gavin, building similar sites that gave a small amount of Bitcoins to visitors. On the other hand, as these sites have a large amount of traffic, they earned advertising fees by driving users to major Bitcoin sites. Around 50% of Bitcoin websites are dependent on them for traffic, making it a viable business model.
#Crypto #BitcoinFaucet #BTC #Blockchain