Cryptocurrencies are digital assets that have gained big popularity through recent years. Bitcoin is the first one that released back in 2009 after that more than 4000 altcoins have been created.
You can purchase coins through exchanges or earn some through trading. But there is an easiest and free way to earn coins and that is called Crypto Faucets.
How do Crypto Faucets operate?
Crypto Faucets are websites or apps that offer coins to their members as a reward for completing simple tasks. Faucets are giving away a fraction (satoshis for bitcoins) of a coin to the user mainly for filling a captcha. Some faucets may also have some other tasks such as signing up to a newsletter, viewing ads and others.
The tasks can only be completed only on predetermined intervals of time that differs from site to site.
Note that the rewards fluctuate according to the value of the coin.
Why Crypto Faucets have been created?
Faucets have been mainly created in order to familiarise people with a specific coin. The cryptocurrency world is relatively new to investors and most people hesitate to invest their money in such projects. By giving away free coins to their members, faucets introduce the coins to them and that way attract new users to that digital asset.
Because of the easy way to earn, faucets attract a high amount of traffic. So they are monetizing the sites with many ads (banners, pop-ups etc.) in order to increase their revenue. That can be annoying as most sites are overloaded with ads. Of course, that’s the price you have to pay for getting free coins.
How much can I earn from Crypto Faucets?
You earn free coins for doing simple tasks. So you can imagine the rewards are relatively low. You are earning only a small fraction of the coin. An example is shown below.
Many faucets are offering bonuses for your claims. Also, many faucets allow you can claim several times per hour. So if you are active you can earn a decent amount of coins every day.
If the price of the coin you are collecting, skyrockets (very common in the crypto world) you can end up with a decent amount of cash with minimal effort.
Finally, all faucets offer a referral program where you get rewards for bringing other members to the site. In most cases, you can refer an unlimited amount of users and that can increase your earning potential a lot.
Where do I get my rewards from Crypto Faucets?
Most faucets will send you the coins in your wallet address. Every faucet has its own minimum threshold for sending payments.
Many faucets will send the coins earned automatically to your micro wallets account. CoinPot is one example of such wallet.
A spotlight on the best Crypto Faucets
FAUCET COIN PAYMENT TIMER REFS
FireFaucet Many Faucetpay - 20% MORE INFO!
CryptoMiningGame Many - - 8% MORE INFO!
FreeBitcoin Bitcoin 0.0003 BTC 60 minutes 50% MORE INFO!
Coinfaucet Ripple 1 XRP 60 minutes 50% MORE INFO!
FreeCardano Cardano 1 ADA 60 minutes 50% MORE INFO!
BITCOIN – BEST BITCOIN FAUCETS
DOGECOIN – BEST DOGECOIN FAUCETS
LITECOIN – BEST LITECOIN FAUCETS
Conclusion
You will not get rich by participating in faucets but they offer the best way to start earning free cryptocurrencies. If you join many sites and sign in many times a day your earnings will increase substantially.
You can find a faucet for almost every coin and you can start creating your portfolio of cryptos without having to pay a dime.
I hope that you have found my article useful and informative. If so feel free to share it or leave a comment below.
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