What are Crypto Faucets?

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.

How do crypto faucets work?

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).

Differences between Crypto Faucet and Airdrop

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:

Goals

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.

Frequency

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.

Rewards

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.

Types of crypto faucets

What is a Crypto Faucet?

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.

How a Crypto Faucet works

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