What is Transparancy
Transparency is a new goal for many businesses, winning over shareholders, employees, and the general public. When a business is open about its operations, it can earn a level of trust that it wouldn’t have established otherwise.
The Faucethub Transparency
Faucethub offers it’s users the possibility to see all transactions of the past 2 weeks, this includes earnings and fees, deposits by faucet owners, recent payments done to faucethub users. You can check the stats at the menu button more+.
Why is this good to see and how to read the published statistics at faucethub.
The transparency level that Faucethub provides is an indicator that gives users the posibility to view the health as potential growth of the faucet world per cryptocurrency. It also gives potential new Faucet Owners indications what the faucethub users claim the most, so revenue wise which Faucet to start will gain a bigger audience and in return have a bigger chance in being profitable.
Lets look at the first table that gives some global statistics.
At the above table we can see per crypto that FH (Faucethub) provides us the following:
- How much have Faucet Owners deposited the last 2 weeks to Faucethub to keep their faucets running.
- How much have Faucets paid to it’s users directly to Faucethub , in other words claims that are sent directly to your account at faucethub.
- How much has been withdrawn by users to their wallets, so from Faucethub to the users wallet address for the particular crypto.
- And finally how many users per cryptocurrency there are that have performed claims.
Note: The transparency level at faucethub is only for the past 2 weeks, this explains why for example there has been more DOGE withdrawn than paid out to users. This does not show how much Faucethub has actually in storage.
The next part is a chart of the Daily Payouts per cryptocurrency, this is pretty much self explaining. You can select the cryptocurrency daily payout tab you wish to view.
The following table is a more difficult one to understand but again full transparency by Faucethub.
What can we see in the above table, lets have a look at it
- Deposit Fees, the fees that FH takes for depositing cryptocurrency at FH, mainly done by Faucet Owners and FH users that play the games & lottery or want to advertise in chat.
- User Withdraw Fees, as it says FH takes a small fee if you want your earned cryptocurrency to your wallet (FH is not a wallet)
- Games, Rain & Premium Accounts, this is the profit or loss that FH made from a particular cryptocurrency from eg Rambo, Premium accounts etc …
- Total Fees Collected, that’s as it says the total of the above 3 Deposit Fees, User Withdraw Fees and Games, Rain & Premium accounts.
- Total Withdrawn by Users, the total that has been sent to users (includes faucet owners) wallet address per cryptocurrency
- Network Fees Paid by Us, cryptocurrency transactions aren’t free and a those cost also, here you can see the fees paid, you can track for your withdrawalss personally at the blockchain how much fee has been taken apart from FH’s withdraw fees.
- Faucethub’s Profit, finally how much is left for FH as business per cryptocurrency.
Note: This is only the past 2 weeks and some numbers are negative but this is due to the possibility that users can exchange cryptocurrencies for another one at Faucethub, or a big win with one of the games eg Rambo.
And finally the last part of the Faucethub Transparancy
This table shows each withdraw from FH to a users wallet, the fee the user payed, the network fee and if FH made profit or not on the user withdraw, you can also click the ‘view on explorer’ button to see the exact fee that has been payed for that particular transaction.
Conclusion: It is nice that Faucethub is open to it’s users unlike many other microwallets and/or faucets where deposits can be done. Due to it’s transparency even if it’s only for the past 2 weeks it gives it’s users a much higher trust level than any other alike platform on the net.