Bitcoin is a software-based online payment system described by Satoshi Nakamoto in 2008 and introduced as open-source software in 2009. more about Bitcoins at wikipedia
Bitcoin faucet is a website that gives out FREE bitcoins (BTC) in exchange for doing a simple task, such as clicking on an advert, solving a CAPTCHA, or viewing a webpage for a certain amount of time. There are also faucets that dispense alternative cryptocurrencies.
Faucets usually give tiny amounts that typically fluctuate according to the value of bitcoin. Typical payout per transaction is less than 1000 satoshi, although many faucets have random larger rewards. Normally faucet saves up these small individual payments in its own ledger, and they add up to make a larger payment that is sent to your bitcoin address. This is to reduce mining fees. Some faucets use immediate off-blockchain transactions, which have no fees.
Bitcoin faucet rotators can 'rotate' through a large list of faucets by clicking a button on a single websites, meaning more sites can be visited than entering the URL of site after site. The website earns money through a referral system for each website visited. Faucet rotators can also prioritize faucets by their level of average payout and will only visit sites if the time limit in between payouts has been reached.
The business model of bitcoin faucets is to get advertisement revenue from banner ads and distribute only portion of that money to users. A time limit is imposed between payouts to stop bots, human CAPTCHA solvers in third world countries, or avid users performing repeated withdrawals.
Start here. If you are going to use it only for fun choose WEB wallet.
Microwallet is a place where all of your coins accumulate. Once they reach a withdrawal limit they will be sent to your real wallet address.
Most of the websites get their profit by showing ads. And most of them are able to detect the ad-blocking plugins. Be fair, we don't want them bankrupt, right?
A satoshi is currently the smallest unit of the Bitcoin currency (1/100,000,000 BTC or 0.00000001 BTC). The unit has been named "satoshi" in collective homage to the founder Bitcoin, Satoshi Nakamoto.