Is freebitco.in a legit site? This is faucet. What is the use of faucets in bitcoin. Is it also a mining business?Please tell me more about faucets.
concerning the mentioned website i advise you to read this extended discussion about : https://bitcointalk.org/index.php?topic=341659.0
concerning the faucets systems
Bitcoin faucets are a reward system, in the form of a website or app, that dispenses rewards in the form of a satoshi, which is a hundredth of a millionth BTC, for visitors to claim in exchange for completing a captcha or task as described by the website.
- To introduce users to bitcoin
- To get traffic
- To make money
Besides, in the testnet the faucets are worthless bitcoins distributed for test purposes.
Faucets are services which give away free Bitcoin. However the amount of Bitcoin given away by faucets is so small such that the amounts are basically negligible and worthless.
Faucets are not miners nor are they related to miners(although miners could run faucets if they so choose). Rather they serve as websites where the faucet owners can place a large number of advertisements and still get people to visit their site and view those ads. In this way, the site owner can earn a significant amount of money from ad revenue while spending very little by giving away money via the faucet.