A crypto faucet is an app or a website that distributes small amounts of cryptocurrencies as a reward for completing easy tasks. They’re given the name “faucets” because the rewards are small, just like small drops of water dripping from a leaky faucet.
However, in the case of crypto faucets, tiny amounts of free or earned cryptocurrency are sent to a user’s wallet. In order to get free crypto, users need to complete tasks as simple as viewing ads, watching product videos, completing quizzes, clicking links (be careful!), or completing a captcha.
These days, with cryptocurrency prices so high, payouts from faucets have become so small that users are typically making no more than pennies an hour when using the faucets, which typically require you to complete a captcha to collect your small amount of coins. Bitcoin faucets remain popular, but there are also faucets for Ethereum, Litecoin, Doge, and some other cryptocurrencies
What is the purpose of a crypto faucet?
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. They reward their users usually using Faucetpay.
Though cryptocurrencies have had a great last year, they are yet not completely mainstream and are still new to many people around the world. The idea behind crypto faucets is to give free cryptocurrencies to people so they would take the time to learn about digital assets and hopefully invest in them.
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 satoshis 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.
Crypto faucets are generally made to be simple and user-friendly. Users usually need to register an account with the digital asset service first. There are also dedicated crypto faucet sites and apps that specialize in offering free crypto to users who complete simple tasks. In both cases, users should have their crypto wallets to receive the rewards and may sometimes be asked to verify their identity.
Users are offered to complete tasks that can include watching videos, reading articles, watching ads, playing games, and taking quizzes or surveys. The service can also ask users to refer friends to it. These tasks are relatively straightforward, and most people would have no problem completing them. But, in some cases, the tasks can be rather time-consuming.
Upon completing the required tasks, users are rewarded with small amounts of crypto. However, if you use a faucet consistently, the rewards can compound over time and reach more meaningful amounts. Note that some websites and apps may require users to accumulate their rewards to a minimum amount before they can cash out (for example, $5 worth of crypto at a minimum).
At a glance, both crypto faucet and airdrop have the same goal, which is to give crypto assets for “free”. So, it makes sense that people get confused between the two.
So, here are the main differences:
Faucets aim to incentivize users to visit the page as often as possible. Hence, the tasks given are often repetitive, leading to you often spending long periods of time on their platform.
Airdrop campaigns aim to attract communities over individual users. Startups will often airdrop their native currencies to increase awareness.
Crypto faucets urge you to visit the platform periodically to perform more tasks for more rewards.
An airdrop is generally a one-and-done promo event.
To incentivize individuals to visit the page more, crypto faucets give out tasks and rewards in small – micro–chunks.
Meanwhile, because airdrops occur less frequently and they’re aiming to attract large communities, the rewards are larger.
One way to categorize crypto faucets is by the token paid out as a reward. There are bitcoin, Ethereum, BNB faucets, TRX, DOGECOIN, and many more.
For example, when using crypto faucets, users can earn rewards denominated in satoshis, the smallest unit of BTC.
There are also crypto faucetlist
websites that offer users multiple options depending on which token they prefer to claim their rewards in.
Short answer: A platform that gives small amounts of Bitcoin or any other cryptocurrency usually satoshi to users who complete simple tasks.
A crypto faucet is a website or an app that gives very small amounts of Bitcoin as a reward for completing trivial tasks.
A crypto faucet works very simply, at a glance, users would have to enter their faucet network wallet addresses, complete some easy tasks, and receive coins. Most crypto faucet platforms have direct and instant payments.
Although, some Bitcoin faucets require you to use a micro wallet from a certain host. Also, to minimize the transaction fees that may equal most of or all of the rewards, most Bitcoin faucets have a minimum reward limit that users have to reach before they can be redeemed.
In general, the more complicated a task, the higher the reward will be given.
Usually, the platform sends a small amount of Satoshi (the smallest unit of BTC) or 0.0000001 BTC.
The table below shows a list of the top paying verified bitcoin faucets.
Best Bitcoin (BTC) Faucets
Best Tron (TRX) Faucets
A Tron faucet
acts as a rewarding system for people looking to earn free Tron tokens. Whether you are playing games, referring friends, completing surveys, and more, you can earn free TRX tokens. Below are a few faucets you can use for earning Tron tokens:
Top Binance Coin (BNB) Faucets
Binance Coin faucets
are a reward system, in the form of a website or app, that dispenses rewards in the form of a satoshi, which is a hundredth of a millionth BNB, for visitors to claim in exchange for completing a captcha or task as described by the website.
Below are a few faucets you can use for earning BNB :
Top DOGE Coin Faucets
Doge coin faucets
are a reward system, in the form of a website or app, that dispenses rewards in the form of a dogetoshi, which is a hundredth of a millionth DOGE, for visitors to claim in exchange for completing a captcha or task as described by the website.
Below are a few faucets you can use for earning Dogecoin tokens:
Crypto faucets are certainly not a get-rich-quick scheme. The simpler the task, the lesser the reward. Most websites offer a minimum payout threshold, so the rewards earned by completing tasks are deposited into an online wallet of the site.
A user can withdraw this reward only after reaching the minimum set threshold. With the best crypto faucets, this might take just a day, but often, it can take longer than a week.
As you can see with our thorough breakdown of crypto faucets, beggars can be choosers when it comes to earning crypto. If you’re a newcomer to crypto, these free tools to earn digital assets are a fantastic resource.
Be mindful of lofty promises and suspicious-looking websites. Rely on reputable and established brands that you trust.
If you use crypto faucets correctly and consistently, tiny drops of crypto could eventually become a meaningful amount, especially if the market value of the tokens you’ve accumulated goes up.
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 time, electricity, and money