Is running Cryptocurrency or Bitcoin faucet profitable?
Is running a Bitcoin faucet profitable? Planning to open your own Cryptocurrency faucet and researching if it would be profitable to open it.? We have some key considerations for you to decide whether it will be profitable to operate such a site.
First of all you need a decent budget and it is up to you how much are you willing to spend in first six months of your faucet life. Some faucet owners are lucky because their faucet easily gets hype and a lot of users with in a week, such as MoonDash faucet. The faucet did growth at a very quick rate and was accepted by Mellowads, one of the highest paying Bitcoin advertising website. I suggest a budget around 0.1-0.5 Bitcoins. You should know that you need to take risk. This can lead to loosing all your money you invested so invest what you are willing to loose.
2. The Cost
Well, this is the most important aspect of running a faucet. You need to buy a hosting package from some good hosting provider such as Hostgrator or Bluehost. There are many other Hosting providers and you to need to look for them in order to minimize your initial cost. Once you have decided on which Hosting service you wish to begin then there comes the next factor. Kindly know it is an important part as it will determine your future profits. Don’t pay high for Hosting package when you can avail the same service at a lower cost.
3. Faucet Script
If you don’t have knowledge of HTML, CSS and Php you need to either buy a faucet script or use a one for free. There are lots of faucet scripts to look from. As a faucet owner I would suggest using Makejar Faucet Script as it is easy to configure. There are faucet script available for Xapo, Faucetsystem, and Faucethub. It is up to you which script you would go for. But you need to make sure that the script you are using has a strong Anti-bot protection or you will loose your money very fast. If you are going for “GR8 Faucet Script” again it will require some cost for you.
4. Advertising your faucet
You are not playing well if you are not advertising your faucet on Bitcoin advertising networks. In the first few days you need to spread the message about your faucet you can also do it for free using Mellowads. Although using referral system is a good way to market your faucet but advertising in the first few days can help you reach a decent Alexa rank with in few days or a month. You can also create simple banners for your faucet and use it to gain even more attraction.
5. Earning using advertising network
The hardest part to run a Bitcoin or other Cryptocurrency faucet is getting approved from Bitcoin advertising networks. There are only few advertising networks that accept new faucet sites. High paying networks such as Cointraffic, Coinzilla and Mellowads only approves you if you have a decent Alexa rank. Although there are other advertising networks where it is easy to get approved such as A-ads, Bitcoadz, etc but there payout is so low that you will hardly make any profits. However, if you have unique traffic and engaging audience with low bounce rate you are likely to grab your hands on some decent revenue.