What are Cryptocurrency Faucets?
Cryptocurrency faucets or crypto faucets are websites and mobile applications that allow the users to obtain a small amount of cryptocurrency in exchange for the performance of certain tasks. A crypto faucet can best be imagined as a small tap that gives drops of different coins for completing a captcha, registering on a site or clicking on a timer.
They are not guaranteed to turn you into a billionaire overnight, but they may be a good option for you if you are looking for ways to gather and hold coins.
How Did Crypto Faucets Come Into Existence?
Cryptocurrency faucets were designed initially to increase coin ownership and increase the popularity of cryptocurrency. For example, the first bitcoin faucet was developed by Gavin Andersen in 2010.
Then, the reward was as high as 5BTC. Eleven years later, bitcoin faucets do not usually give rewards of more than 20 satoshi per minute. Since the evolution of the first bitcoin faucet, there have been many other crypto faucets such as Dogecoin faucets, Bitcoin cash faucets, Litecoin faucets, Monero faucets, and Ethereum faucets.
These faucets are numerous and the rewards they offer differ based on timing, the number of people on the site or app, and the task assigned. All of these faucets usually have minimum withdrawal limits with or without a withdrawal charge. When the limit is reached, you can now withdraw your coin into your multi-coin wallet or a specific wallet created for that purpose.
How Crypto Faucets Afford To Pay You
Cryptocurrency faucets are run through websites or mobile applications. The owners of these faucets make money from ads displayed on the websites, downloads on app stores, and ads viewed on mobile applications. In all sincerity, crypto faucets do not give away cryptocurrency for free. Faucet owners use CoinAd, Anonymous Ads, and affiliate marketing to cash out from the numerous visits to their mobile applications and websites daily.
How Much Can I Make From A Cryptocurrency Faucet?
If you are interested in becoming a billionaire within a year, crypto faucets may not be the thing for you. The most popular bitcoin faucets will offer 20 satoshi per transaction and at the end of a full day spent on a faucet, you might make less than $5. An hour on Fiverr or your regular day job would give you more than that, with less cost of electricity and time. Although there are some cryptocurrency faucets with higher rewards, it will take time for the coins to become tangible.
On the other hand, if you are a low-risk investor and putting your money into cryptocurrency could leave you with palpitations, crypto faucets are the way to go. In addition, crypto faucets provide a way for you to collect and hold coins for a long period of time.
These faucets also provide referral programs in which you can earn coins when you invite people to register on the website or app. These referral programs are a good way to make a lot of coins, if you have a large social media presence.
Be Wary of Crypto Faucet Scams
Some crypto faucet owners intentionally decide not to pay website and app users even after making a lot of money off ad viewership. There are many scams involved: a common one is logging the user out of the website or app once the payment threshold is reached.
Another scam method is requesting some form of payment after which the user is not able to get their coin. In other cases, the faucet slows almost before the payment threshold is reached or the coin is wiped off the wallet after the task completion. There are many scams in the cryptocurrency faucet world, so you should check reviews online before registering on a new crypto faucet app or website. This will enable you to save your time, electricity, and money.
Are Crypto Faucets A Way to Increase Passive Income or A Complete Waste of Time?
Cryptocurrency faucets can help you grow your income on the side. However, they are not guaranteed to make you rich. In terms of time spent on faucets, freelancing is a better option. However, there is a slight possibility of collecting a coin that may become very significant in years to come. In my personal opinion, crypto faucets should only be done in your spare time.
Spending your entire day trying to get coins is too expensive in time, electricity, and mental health. Cryptocurrency faucets make the owners and the users some money: they are not completely useless. However, crypto faucet owners make a lot of money for a meager coin distribution to the crypto faucet users. I hope that imbalance is corrected: maybe I will try to change that when I create my own cryptocurrency faucet.
Before you choose a Bitcoin faucet
The next step is to look for a Bitcoin faucet that will best fit your needs. But before you choose one, here are some of the most important things you should take note of.
Timer – Cryptocurrency faucets often have a refresh or loading time, which can go from 15 minutes to a couple of hours per day.
Claim amount – This tells you exactly how much you can earn and how often. This also varies depending on the simplicity or complexity of the task you will complete.
Minimum withdrawal – Earlier, we’ve mentioned that some crypto faucets will require you to reach a certain amount of satoshis before you can withdraw your money. Many faucets offer a minimum withdrawal amount of 10,000 satoshis, which is equivalent to 0.0001 BTC or over 5 USD.
Withdrawal method – To withdraw your funds, you’ll need a digital wallet. If you have a Paxful account, you can withdraw your cryptos in over 350 ways, including the most popular payment option in your country.
Referral fee – You might also want to check out how much you can make by introducing the crypto faucet website or app to your friends and family. Some websites actually offer good bonuses, so be sure to consider this when choosing a faucet.
List of the most popular crypto faucetsInterested in giving Bitcoin faucets a shot? Here are some popular crypto faucets—in no particular order—for you to check out.
Cointiply is one of the highest paying Bitcoin faucets and rewards websites you can find. It allows you to multiply your coins by up to 61x and earn BTC by completing tasks, quick offers, surveys, and watching videos. This faucet also offers a loyalty bonus, reward points, fast payments, expert support, 25% referral claims, and much more. Cointiply’s app is available on Android devices.
This faucet allows you to earn cryptocurrencies like Bitcoin and Litecoin (LTC) by playing simple mobile games. It’s been around since 2014 and has a minimum withdrawal rate of 10,000 satoshis. You can earn up to 0.25 USD daily, depending on how often you take part in games. Bitcoin Aliens is available on both Android and iOS devices.
If you love role-playing games (RPGs), you might want to check out Faucet Crypto. It offers an RPG game style and other unique features, like items that give you different types of bonuses for your account. It also has a direct withdrawal option, referral commission of 20%+, and a level-up system that increases the rewards you get for a lifetime.
Faucet Crypto is also ideal for those who want to try a wide variety of cryptocurrencies. It supports BTC, LTC, Bitcoin Cash (BCH), Bitcoin SV (BSV), Dash (DASH), DigiByte (DGB), BitTorrent (BTT), Dogecoin (DOGE), Ethereum Classic (ETC), Ethereum (ETH), Komodo (KMD), Tron (TRON), and more.
This faucet offers features like daily ranking, where the top 20 users of the day can get huge rewards; a level system that allows you to increase your bonus as you level up; a referral system, and a lot more. Like Faucet Crypto, Fire Faucet also supports a wide range of cryptos. This includes BTC, ETH, DOGE, LTC, DASH, TRON, DGB, Tether (USDT), and Zcash (ZEC).
Coinpayu allows you to earn cryptos such as BTC, ETH, LTC, BCH, DOGE, DASH, and more by simply viewing different ads and completing various offers. It also has an affiliate program where you can earn passive income by inviting more users into the platform.
This Bitcoin faucet focuses mainly on advertisements, making it ideal for earners and advertisers alike. It allows you to earn 0.00003 mBTC or 0.0017 USD for every ad you click and referral click you get. Its affiliate program offers a 40% to 80% commission. BTCClicks also has a minimum payout of 0.10000 mBTC or over 5 USD.
If you want to put up an ad with BTCClicks, your earnings can start from 0.00006 mBTC or 0.0034 USD. While this faucet doesn’t require any user signups, it’s important to note that your audience must view your ad for the entire duration of between 10 to 200 seconds to start earning.
If you’re a fan of game shows, you’ll surely enjoy answering questions on Satoshi Quiz. This Bitcoin faucet dispenses small amounts of BTC for the first three people who answer the question on the screen correctly. Note that the question changes every 60 seconds, so be sure to send the correct answer right away! Satoshi Quiz has a minimum withdrawal rate of 11,000 satoshis, which is equivalent to 6 USD at the time of writing.
Every drop counts
While it’s true that you won’t instantly receive a huge amount of BTC through faucets, accumulating small amounts for a certain period of time is still a good start if you’re new to the crypto world. Like tiny drops of water from a leaking faucet, small amounts of BTC, when accumulated, can make a significant change in your crypto journey.
Also, don’t limit yourself to one crypto faucet. Try exploring all the faucets in our list and see which ones best fit your crypto needs. Good luck!
ok ,thanks for you suggestion man.