CCFCN: My Experience With Free Crypto Faucets and Crypto Trading Platforms

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1 year ago

About 5 years ago I got turned on to Free Crypto Faucets. It was an earning way to earn cryptocurrency and all I had to do was open an account with my eMail address. I tried several faucets but I have finally settled on two sites: Cointiply and Bucksify.

Initially, I traded my crypto earnings with a friend. I did not have a wallet and at the time I needed cash; USD. My friend would give me his wallet address. I would send the coins to him and in return, I received the USD equivalent. The arrangement worked well!

One day I saw an advertisement for the BlockFi trading platform. What attracted me was that it said you could use the credit card and receive 1 or 1.5% Bitcoin each month for your purchases. That sounded like an easy way to earn crypto so I create an account. I even went through the KYC process and verified my identity. Wallet addresses were generated and when I made withdrawals from my free faucets, I started sending the coins to my interesting-bearing BlockFi account; instead of to my friend's wallet in exchange for cash. It was great! I could earn interest on my crypto; easily buy and sell crypto; and send money to my bank account if I needed cash.

It was working so well! Then I received a dreaded eMail communication. Evidently, BlockFi lost a major legal challenge with the SEC (USA's Securities and Exchange Commission).

** BlockFi Agrees to $100 Million Settlement With SEC, States Over Lending Product ~

I am tad bit upset with this turn of events. The good thing is that I opened a Coinbase account as an alternative platform for buying and selling crypto; and they have already gone through major legal hurdles to conduct business operations in the USA.

I am probably going to start depositing my crypto earnings from the faucets to my Coinbase account instead of BlockFi. But for right now, I am sending my Bucksify earnings to my Cointiply account. WHY? Two reasons:

* Reason 1: It is very easy to earn crypto quickly at Bucksify. However, Bucksify does not pay interest on your balance.

* Reason 2: It is not so easy to earn crypto quickly at Cointiply; however, I can deposit coins from my Bucksify account to my Cointiply account and get paid 5% interest every week.

While the crypto trading platforms are hammering out their legal difficulties with US government agencies, I'm just going to let my crypto coins earn interest on Cointiply. I have been with this faucet for 5+ years and it has proven to be a reliable website and I don't know of any other faucets that pay you 5% interest. Do you?

Sharing this experience because it's working for me. Who knows? You might try it and it will work for you too!

(Original Content Source:

NOTE: CCFCN means "Curated Content for Crypto Newbies". Yeah. I made that up! 😀😀 Please visit my other CCFCN articles published via Read.Cash; and CCFCN posts shared via Noise.Cash.

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Avatar for cmoneyspinner
1 year ago