*Note: For those of you who want to watch our video about this topic you can watch it here:

https://youtu.be/1GN61gBRcXE

This article was posted mainly for those of you who prefer to read what happened over the YouTube video because you can't hear/understand English properly, or if you do but still prefer to read it over the use of a YouTube video.

What are the changes we made to our faucets on the 26th of February 2024?

As the world of Crypto keeps on evolving every single day, so are crypto faucets, and many of you probably are used to the concept that faucets give out free crypto every hour, and some of our competitors are doing the same.

Looking backward, sites like BCGame used to offer a daily spin every day and now it has changed and it's not available for every free member. For more information on it you can read here in this blog.

Some faucets have completely shut down like CoinPot, others like CoinPayU on the very Christmas Day of 2023, a day of celebration for many has turned into despair for more when they announced the closure of their faucets.

Why many Crypto Faucets are closing?

The world of faucets in 2024 is not the same world we had many years ago. Crypto is becoming more and more mainstream. Countries learn to live side by side with crypto by using regulation to control it. And so, the faucets many of you used to know many years ago, where crypto is given every single hour cannot sustain itself in the current model.

The revenue faucets used to receive from ads, for example, used to be far higher when crypto was booming, however in 2024 advertisers pay far less on ads, and faucets are not that profitable with the basis of paying users even small amounts every hour (unless these are super tiny amounts but then users won't visit the sites!)

In addition, there was a growing trend of the use of bot accounts, take for example this article on Medium:

https://medium.com/@nicholasstepanov/automated-bot-for-cryptocurrency-faucets-746766c789d6

As Nicholas wrote in this article, and it's quoted in case it's ever taken down:

"They offer BTC, ETH, XRP, ADA, TRX, USDT, USDC, NEM and STEAM coins, with each of the faucets available every hour.

Logging in to several websites every single hour can be very time consuming and does not seem like a good idea. However, with the technology available today there is no need to go through all these actions to claim your free coins every hour. Given that all of the coins collected have a good chance of increasing their value significantly over the coming years, these free cryptocurrency faucets provide a good way to collect extra income and save it for the future.

I have written a JavaScript bot which will do that for you every hour, and you can take advantage and collect the coins automatically any time your computer is running and connected to the internet. In this post I will explain how I wrote the CryptosFaucets bot and how to use it. The main requirement for successfully running the bot is having same website login credentials on all of these websites."

Why are we acting now? What has changed?

The use of bots is ruining faucets because users instead of being genuine users are simply draining the faucets and hurting other good users who do visit the faucets genuinely, thereby taking their prizes and even benefiting on the generous 50% referral commissions, and over the long run faucets cannot sustain themselves with this kind of activity.

There isn't just one bot, users were sophisticated enough to grab free crypto in many ways, shapes or forms. You can google search "any of our site name space bot" and find other results such as this one or another one and more.

On top of that, we wanted to reward our users by providing as many promo codes as possible and other promos such as 10X, 50X, 100X on our free rolls, and we were surprised to see a huge amount of withdrawals coming up after running these promos. Slowly we started to lower the frequency of these promos, understanding the ones who mostly profit out of these are the bad guys.

What's happening moving forward?

Unlike other faucets that chose to shut down, we are choosing to keep on going forward. That means our faucets continue with business as usual. However we no longer offer a free roll every hour. If a free user wants to collect free crypto he or she is more than welcome to do so on a daily basis and we have no problem with that.

However, we are looking into better ways to verify and authenticate users on our sites and reward them with more free crypto than before.

Since everything is still brand new, we can't outline the plans themselves, however we do consider raising the value of the free roll for verified users, providing more free rolls for free users for unlocking them through certain tasks and more.

We would like to reiterate:

In the past we were relying on banners and ads, mainly of other gambling sites, to sustain the faucets from these revenus. At least as of now it is quite similarly the same, only instead of using banners or ads, or annoying popups we try to keep our faucets as clean as possible and provide a better user experience for everyone, whether it's a free user, a verified user or anything else as well.

We promoted gambling sites using ads before, we're doing so now in a slightly different way, but no one can deny the fact that faucets and gambling have a lot in common. There is a chance to win, the element to win. Nothing has changed from that aspect.

Before we finish this article we would like to relate to one more point that we feel is important for you to be aware of.

FreeBitco.in - The site is under a serious risk of crashing [Our Opinion]

The #1 first faucet ever created, FreeBitco.in is under huge pressure from so many users. What we experienced from our end is literally nothing in comparison to what these guys are going through.

Tweets like this one are becoming more popular.

They have no customer support whatsoever.

The experience we describe here in this blog is possibly going on a large scale of perhaps 100,000x times more on FreeBitco.in

As of now [Feb 2024], they keep on paying out 1 satoshi to any free member who signs up, every hour, 50% referral commission, and they haven't changed their business model yet.

We believe it's a recipe for disaster.

Many years ago operating like this would have been very profitable, however right now they are not even breaking even with these operations, they are losing money. We strongly advise them to change their current business model if they want to survive and be able to keep on paying their users. They are lucky they bought lots of Bitcoin back in 2012 and even earlier, so they have good reserves of Bitcoin, however if they were to close their site and invest their reserves on any other product or project they would make money other than losing it the way they're doing it now.

They have an alternative of simply shutting down accounts, without properly verifying whether these are genuine or not, but in the long run this could lead to accusations of not paying, scam accusations and more. The Internet is unfortunately growing with complaints against them, and even the Bitcointalk community has become skeptic of what could happen with them.

So, the bottom line is:

We aren't interested in following their steps, the amount of bots, shill accounts and scammers draining them right now is unimaginable.

We are doing all we can in order to sustain our business and by doing so users who have been with us for a long time as well as new users would only be able to benefit from what we have to give away for free.

Thank you for reading.