Here’s another episode of ridiculous investment sites that should not to be trusted. The domain in question is BitcoinFaucet.tk, and we have all the reasons in the world to put this site on our naughty list. It’s a Dutch-based ”Bitcoin mining” site which some people have nearly sent Bitcoins to. Bitcoin Faucet is definitely one of those sites you should avoid because the scamming elements are painfully obvious.
The other reason why we are writing a review of the Bitcoin Faucet is because we’ve received a fair share of complaints and questions regarding Bitcoin Faucet. We now want to make it crystal clear that this site is a shady investment project and a total waste of your time.
The reasons are given below. Pay attention so as not to lose your hard earned Bitcoins.
Note: Instead of wasting time, mine real and life-changing Bitcoins with these services.
What exactly is Bitcoin Faucet? Well, it’s a site that is supposed to periodically give out small amounts of Bitcoins.
But as it currently stands, one does not need to deposit any Bitcoins so that they can receive Bitcoins. So that means we can’t qualify it in the list of scams and pyramid schemes which do rounds on the internet. But that also does not mean that Bitcoin Faucet is a safe place to spend your precious time at.
👉 Want to make money automatically with Bitcoin and Cryptocurrencies without the risk of trading yourself? Are you ready for self-custody of your investment funds? Do you like the sound of regular consistent results and profitable performance? Tired of the forex and crypto scams, false promises and games out there designed to separate you from your hard earned funds? Stop everything! ETBOT is for you! With the ETBOT software, only YOU are in control of your investment funds. The software works using API Key connections that only YOU set up and control. The ETBOT service and mother company EndoTech has been making investors hundreds of percent a year in proven gains since 2012! They use the volatility of the Crypto market to trade long and short using breakout techniques and strategies powered by real Artificial Intelligence. This year so far ETBOT has made over 75% for clients since January 1st, 2020. If you are ready to leave the trading to the professionals and upgrade your monthly income, now is the time, head to ETBOT now and buy your subscription to get started. PS: ETBOT is a Profitable Forex/Crypto Trading Bot. 100% Verified and Recommended by Valforex.com.
Unfortunately, we have found a few disturbing things which we believe will make Bitcoin Faucet a dangerous site to spend time at nonetheless.
This site is very basic. It does not have any bells and whistles which you expect to find on a Bitcoin mining website.
The homepage only contains a text bar for providing your Bitcoin wallet address and some ads on the sidebars. There is an FAQ page which obviously isn’t useful. In fact, this page just gives the basic explanation on the amount of Bitcoins that can be freely given out as well as how to join the site.
We do not understand why Bitcoin Faucet has decided to plaster ads that look awkward in the left and right sidebars respectively. They look out of place, and are a major distraction. They look odd and corny as well. Nothing is inspiring about this setup at all. In other words, the basic theme of this site makes it look like a typical blog but with no content at all. This site falls in the category of spam sites that offer no value to the user. We wonder why Google didn’t take notice of this site.
Sites that don’t have any information about their owners are generally corny and too dangerous to deal with.
With Bitcoin Faucet, we have not found any information concerning the owners, their background or even their physical location.
Thankfully, we managed to conduct an in-depth investigative analysis of the site and discovered that Bitcoin Faucet is registered in Amsterdam by a group of people known as BV Dot TK.
Now, you can be sure that this is not the real name of this group of persons. The same applies to the alleged location. Who.is has a premium service does have the option of hiding one’s identity and location. So it makes it even harder for investigators to see who really owns the site in question.
Naturally when we hit a dead end when trying to search for information about the owner of a particular site, we usually turn to Google to try digging further.
So we entered the name BV Dot TK and hit the search button. Google did not return any results which are related to the name that we were searching. What exactly does this mean?
It only means that Bitcoin Faucet is a site that is operated by crooks who don’t feel comfortable exposing their identities. It is natural for crooks to want to hide, and who.is is giving that service to this category of crooks.
The site alleges that it will dispense tiny amounts of Cryptocurrencies when you request it to do so. They call them bounties. One bounty is worth 0.00000024 BTC. This is supposed to be sent out once every hour.
You are probably thinking that if you can collect these bounties by the hour, you can easily accumulate a significant amount of Bitcoins in the long run, and that means you can sell later when price of Bitcoin eventually moves to a profitable amount.
Unfortunately, that line of thinking will not make you rich or take you anywhere. The reason why we are saying so is because life is never simple or as straight forward as utilizing a free Bitcoin Faucet to make wealth in the long run. This is not likely to happen anytime now and in the future.
Surprisingly, Bitcoin Faucet website has set a lower limit for those who want to cashing out these Bitcoins. This amount currently stands at 0.0000550 BTC. The site claims that it offers payouts every weekend.
In layman’s terms, Bitcoin Faucet produces Bitcoins once every hour for 8 hours a day and 56 hours a week. This cycle continues during the weekend too.
Therefore, if one payment which takes place every hour is 0.00000024, it would take at least 200 separate payouts in order to reach the minimum Bitcoins needed to withdraw the coins.
This is something that can take more than a month in order to receive a payout. But the other concern is that we have not seen any evidence out there which suggests that Bitcoin Faucet issues payouts.
The question is, does Bitcoin Faucet really pay their clients?
Now, when you look at this site, you won’t find any indicator which suggests that it’s a legitimate operation. The quality and presentation says that this website isn’t serious with its activities at all. And then there is the lack of explanations concerning the activities of Bitcoin Faucet.
You may think that this is a biased opinion…. some people might argue so.
But for us to prove this point and just to be sure, we scouted a few Bitcoin forums on the internet. We wanted to see if people are talking about this site.
One person claimed that records were indicating a payment while his wallet had not received any Bitcoins. He went ahead to say that Bitcoin Faucet is a complete waste of time.
Another user criticized this site by saying that it’s only a spam site meant to encourage clicking of ads as it does not offer any value to the user.
However, one of the most important things to mention here is that in all those reviews/testimonials, we did not find any authentic evidence that this site was paying its members. Those who seemed to be endorsing it had comments with referral links back to the site. This only served as evidence that the site is not legitimate.
Now, the site’s referral program is paying users 0.00000001 BTC per head. This could mean that many people haven’t tried the site yet or have tried it and ended up with nothing substantial to say about it.
You don’t need to waste your time earning peanuts that don’t end up in your Bitcoin wallet anyway. Make use of these services to make money.
Help Us Fight Scams. Please Donate to Support Our Work. No Amount is too Little or too Big. Thank You..
February 8, 2019 By Ghazanfar
The phrase ‘Necessity is the mother of invention’ seems true for Iran. This is because Iran has unveiled its own...
February 8, 2019 By Ghazanfar
In spite of long bear market, Bitcoin transactions per day are increasing. Today the level of these transactions has touched...
February 4, 2019 By Ghazanfar
Although bear market in crypto world is extending, yet many fiat currencies are facing the threat of destabilization. This is...
February 4, 2019 By Ghazanfar
In spite of mix signals from the cryptocurrency world about the future of cryptocurrencies, many countries are planning to test...
February 3, 2019 By Ghazanfar
The idea of Bitcoin adoption as an international currency is not at all new. Over the years, many financial experts...
February 2, 2019 By Ghazanfar
Bitcoin’s entry into the longest ever bear market in history is one of the most burning issues of today. The...
Valforex.com will not be liable for any damages incurred due to the usage of any information displayed on this website. The information and trading guides found on the website constitute the authors’ opinion only. Trading Forex, Binary options and Cryptocurrencies involve high-risk and are not suitable for all investors. Online trading in general, may not be legal in your jurisdiction. It’s visitors’ responsibility to make sure these entities are legal in their jurisdiction before engaging in trading activity… Read More