Can one really earn cryptocurrency by doing small and simple tasks? You might feel and say that it happens only in dreams; however, Faucet Crypto apps proved this as feasible. The name of the commodity clearly indicates the functions it does. Just like the water drips from a leaky faucet, the best Faucet Cryptos reward the users with crypto assets for just completing simple tasks.
But what exactly is a Faucet Crypto? In this article, we find out all about faucet cryptocurrency!
What is a Faucet Crypto?
What is a Faucet Crypto?
A number of apps and web interfaces reward users as an incentive. Similarly, several cryptocurrencies offer free coins for completing simple tasks such as solving quizzes, using the app daily, and others. No, these rewards might not make you suddenly wealthy, but earning free cryptocurrency is a definite possibility with cryptocurrency faucets.
A Little Historical Background
The Faucet cryptos were created initially with the idea of being a marketing tool for the popularization of Bitcoin and getting users involved with the crypto world. For example, to popularize Bitcoin, software developer Gavin Andresen created the first faucet crypto back in 2010. On his Bitcoin faucet website, new users can solve a simple captcha once every day to prove that they are not some kind of software robot (bot), and therefore get 5 free Bitcoins every day!
What is the Purpose of Faucet Cryptos?
What is the Purpose of Faucet Cryptos?
Faucet Cryptos would want users to complete certain specified simple tasks to be rewarded for free cryptos. This might require signing up on a new platform, watching videos and articles, completing surveys and quizzes, or playing games. Upon completion, the user gets the crypto reward after the successful completion of such tasks by the Faucet Crypto.
In return, the user will provide a wallet address that supports the faucet crypto. For example, if the faucet pays in ETH (Ethereum), then you will share an ETH wallet address, not a Bitcoin wallet address.
You should also read the terms and conditions governing the use of crypto rewards received from faucets. Some Faucet Cryptos require you to accumulate a minimum amount of coins before you can withdraw or cash out.
How do Faucet Cryptos Work?
Now that you know ‘what are Faucet Cryptos? ‘, it’s time we delve unto their workings. The working principle of any cryptocurrency faucet will basically be pretty simple. Every user who wants to get a crypto reward has to start with signing up to the digital asset service.
Basically, most of the faucet crypto sites compels every user to first register over their digital wallet and create an account with them. Faucet Crypto apps specialize in supporting their users for crypto rewards upon the completion of assigned tasks.
Normally, these tasks would be very easy, such as:
- Watching ads
- Playing games
- Solving captchas
- Taking surveys
- Downloading apps
- Signing up for online services
9 Types of Faucet Cryptos
9 Types of Faucet Cryptos
There are several different kinds of cryptocurrency faucets. The best faucet crypto sites are:
1. Bitcoin Faucets:
The first and unique cryptocurrency of this kind was the Bitcoin faucet created in 2010 by Gavin. In the beginning many users have earned 5 BTC just for completing the simplest tasks. The Bitcoin faucet is a reward system in which users get paid in Satoshis— one-millionth of a Bitcoin—in return for performing easy jobs such as solving captchas, among other things. Due to the popularity that Bitcoin faucets gained, other faucet crypto sites also came into existence.
2. Ethereum Faucets:
ETH certainly raised the bar when it comes to earning free crypto rewards. This is because it involves rewards from multiple Faucet Crypto sites on offer for free ETH. It’s major for advertisement for Ether and it provides data mining as well. Some of the sites that have ETH rewards on offer in return for playing games include Allcoin.PW, while Fire Faucet offers you ETH for solving captchas and browser mining.
3. Litecoin Faucets:
Litecoin has followed a similar route to BTC and has introduced Litoshi as a reward over its Faucet Crypto sites. The users get to earn free Litecoin for doing simple tasks on the website. Moon Litecoin is a renowned Faucet Crypto site for Litecoin. It offers rewards to the users via coinpot.co wallet. Fire Faucet also provides Litecoin, BTC, along with other assets, to users, with auto-claim points.
4. Bitcoin Cash Faucets:
The Bitcoin Cash faucet users must sign up to a number of wallets. Rewards are given regularly according to the tasks, and providers give options accordingly. Faucet Crypto gives free BCH for its services, and the reward is claimed upon clicking by the user on the tab assigned for it. Konstantinova is also a platform that has free BCH, which, upon claiming, gets sent to the FaucetPay.io wallet every fifty minutes.
5. Monero Faucets:
Any person interested in earning Monero tokens can utilize the Monero cryptocurrency faucets. Over the completion of simple tasks like completing captchas and watching ads, users get to earn MXR tokens. Monerfaucet.info is another Faucet Crypto app that rewards users with 0.000005 to 0.025 MXR tokens over the completion of every task. The rewards can be collected every sixty minutes. Express Faucet, similarly, has rewards every four hours.
6. ZCash Faucets:
These ZCash faucets also provide tokens to basic activities, following the same path as other Faucet Cryptos. Pipeflare is one of the faucets that supports ZEC tokens. The users attribute their account and complete one captcha every day; they earn the rewards. The cryptocurrency faucet does not apply any minimum to withdraw the rewards. Globalive is another ZEC Faucet Crypto site that awards ZEC rewards every twenty hours.
7. Tron Faucets:
These cryptocurrency faucets let you play games, refer friends, complete surveys, watch videos, and do more simple tasks like that to earn TRX tokens. From being among the most used Tron faucets, the website Xcolander.com has earned a name. It offers tokens based on a spin-the-wheel format.
8. Multicurrency Faucets:
Some of the apps of Faucet Crypto have taken this reward-based system to another level. They provide the chance for the user to earn crypto rewards through simple tasks and choose according to their liking, more so, the nature of the reward. Faucet Crypto takes the lead among the best Faucet Crypto platforms to offer users multiple earning currencies in their rewards.
9. FreeBitco.in:
It was the year 2013 when one of the oldest Bitcoin faucets was established and the name of this popular Bitcoin is FreeBitco.in. It has an hourly freeroll system, referral programs, and even a betting site. Therefore, having proved the reliability so far and its devoted user base, FreeBitco.in enables users to earn Bitcoins in several ways and interact with the crypto ecosystem.
Benefits Of Faucet Cryptos
Benefits Of Faucet Cryptos
1. Free Crypto:
You already learned what a Faucet Crypto is and for sure you already know that they are a great platform to earn free crypto. Since you don’t put any money into the assets there is no risk involved, and you can just wait for the market to move in your favor. With the best Faucet Crypto sites, in return for earning free crypto, users must complete very simple tasks.
2. No Limit on Earning from the same Faucet Crypto:
You can keep on completing the minimum tasks and receive crypto rewards from the same Faucet Crypto. Most cryptocurrency faucets do not impose an upper limit on earning from the same faucets.
3. Risk-Free Way of Learning:
People normally think that they must have money at their disposal to learn about crypto. Cryptocurrency faucets make this assumption go away by making people earn crypto tokens and use them in the real world for learning purposes. This is a risk-free method which attracts a lot of users toward cryptocurrency.
Disadvantages of Faucet Cryptos
Disadvantages of Faucet Cryptos
1. Fraudulent Faucets:
Like real-world scenarios, Faucet Crypto apps are at times fraudulent. At times, faucets do not pay their users even after they have watched the ad or completed the tasks set before them. Sometimes the faucets could generally be malware that will harm your computer and steal with your data!
2. Time-Wasting:
Some cases have been where a cryptocurrency faucet was actually a waste of time. The tasks can be very dull, and the reward may not be worthy of time used. Since the reward is quite small, it takes lots of time before one can get enough reward to cash out.
3. Repetitive Tasks:
If any of you do not like doing the same chores all the time, then the Faucet Crypto sites are going to be a bummer (disappointment) for you. While learning about ‘how do Faucet Cryptos work?’, you must have gathered that the tasks are majorly repetitive. It might bore the users and cause disruption in earning daily rewards.
Conclusion
Now that you have complete knowledge about ‘what are Faucet Cryptos?’, it’s upon you how you like the concept. Cryptocurrency faucets provide free crypto rewards to users, but the time they consume is quite a lot. Large amount of participation is required to earn enough crypto rewards. However, we can still conclude that Faucet Cryptos are a great option to learn about cryptocurrency without risking anything.
The best faucet cryptos, therefore, have pretty efficient uses in the real world, and many crypto traders make use of them to get some extra passive income.
