FaucetHUB is a micro-wallet service active since 2016 that has achieved much popularity in the field of cryptocurrencies. The service allows you to collect and aggregate many small Bitcoin and Altcoin payments from numerous faucets. Often the gains from the faucets are not huge and can take some time to reach the minimum payout. The faucets connected to FaucetHUB allowed instant cashout from the faucet to the micro-wallet, which also carried out a useful work of monitoring. FH also allowed its members to earn cryptos with internal methods. The cryptocurrencies accumulated on FH’s balance could be transferred to users own portfolio following the payment request.
FaucetHUB will stops activity
Very bad new for many crypto’s lovers. A few days ago the admin and owner of the project published a long message in the forum, announcing the interruption and closure of the services provided by FaucetHUB. The decision seems to have matured as a result of the regulatory wind blowing in the cryptocurrency field and that could lead FH, as well as other small wallets, to request particular permissions and operate transparently, with relative loss of privacy and anonymity of its users . Therefore the admin has decided to interrupt the services provided by FaucetHub.
What will happen? Exit strategy and rebranding
In the long and passionate message published in the forum, the administrator explained the steps of the exit strategy. Most features will be gradually disabled. From November 9th to December 10th, therefore, FaucetHUB enters a transition phase. Until that date it is recommended to cashout your active balance. The minimum required has been lowered to allow to help everyone to cashout them money.
The other part of the message concerns the new project that will come from the ashes of FaucetHUB, which will not die completely, but will change the name and business model. The admin therefore announced that from December 10th, the official end of FH, there will be the development of a new platform that should offer the following services: Offerwall and a advertising netwtork for publishers to monetize the traffic of their websites. However, the new project will work exclusively with Bitcoin.
For the faucet’s owner, there is a table between the admin and the interested parties, looking for possible solutions. In any case we think it will be at the discretion of the various owners to provide alternative solutions to cashout.