Crypto faucets seem like
a really easy way to get free crypto...but what are the benefits, but what
should you be aware of?
There are a few different ways of increasing
your crypto holdings in 2021. You are able to buy it, trade it, stake it and if
you’re an unscrupulous lowlife, you are able to even steal it through hacks and
scams. However, there are safer and perfectly legal ways if you’re out of funds
and ideas, as there’s another way to rack up those satoshis: You are able to
earn it.
Does “free crypto” really exist? Theoretically
yes. Much like “free beer,” the so-called economic principle usually applies:
“There are no such as a free lunch.” It essentially means that free stuff takes
work.
READ ALSO : BEST FREE FAUCET SPACE TOKEN
Good news then. You are able to roll up your
proverbial sleeves and start with our Learn and Earn educational program where
we teach you about leading projects, and they in turn reward you with small
amounts of their crypto in return. It’s our way to foster greater knowledge
about exciting new crypto currency and DeFi projects. This type of reward
program are able to be considered a type of crypto faucet.
Warning: Please be aware not all crypto faucets
are equal and that we recommend you only interact with trusted sites. Some sites
may infect your device with phishing malware, ransomware and spyware.
CoinMarketCap does not endorse nor support any of the crypto faucets mentioned
in this article, and nothing here should be considered to be financial advice
of any kind.
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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.
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.
But, what is the purpose of a crypto faucet?
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.
How Does A Cryptocurrency Faucet work?
The operation of a crypto faucet is mainly based
on finishing simple tasks as well as participating in established activities.
The faucet website can fix the rewards and can set a timelock for users to
claim the rewards.
Usually, users need to register on a cryptofaucet by entering their details along with the wallet address. After solving a
task on the website, the reward earned goes to a micro wallet — a wallet
similar to traditional wallets, but one which is capable of collecting small
amounts of crypto assets. For most crypto faucets, micro wallets are automatically
created upon signing up.
As soon as these micro wallets are filled, the
rewards are automatically sent out to the main wallet of the users.
Introduced by senior Bitcoin developer Gavin
Andresen in 2010, Bitcoin faucets were developed to give a reward of five
Bitcoins (!) for completing simple tasks. The purpose was to spread awareness
about Bitcoin because the concept of cryptocurrency was very new.
Another reason to start a free Bitcoin faucet
was the limited availability of exchanges in the earlier days of cryptos —
there were simply no exchanges, so buying Bitcoin was difficult. Giving out
free Bitcoins to people was a great incentive to get people interested in Bitcoin
and drive its adoption, without having to risk any capital.
A Bitcoin faucet can be defined as a reward
system from which small amounts of Bitcoin can be rewarded, known as Satoshi,
the one-millionth unit of 1 Bitcoin (0.00000001 BTC). The reward system offers
you Satoshis in exchange for solving captchas, clicking links or other simple
tasks. The number of free Bitcoin a faucet can offer you vary — some sites have
great rates, while others don’t.
Bitcoin was introduced as the first coin faucet,
and it got so popular that other digital assets jumped onto the bandwagon.
Some of the best and biggest Bitcoin faucetsites can be found on bestfaucetsites.com, with the most popular being
Freebitcoin, Cointiply and Firefaucet. Users can earn BTC through solving
reCaptcha, SolveMedia, playing games or mining. Minimum withdrawal range from
0.0002 BTC to 0.002 BTC. Most of these Bitcoin faucets have instant, direct
payout.
An Ethereum faucet works like a Bitcoin faucet,
but instead of Satoshis, it rewards users with Ether for completing different
tasks. It is a great way to earn free Ethereum tokens by contributing to
advertising and data mining. A few Ethereum faucet options are:
Ethereum-faucet.org offers ETH tokens for
solving captchas. Additionally, the website allows you to participate in its
lottery with a contribution. (Updated: Ethereum-faucet.org does not offer
faucet services as of August 2021)
Bestfaucetsites offers a comprehensive list
of the best Ethereum faucets where users can earn ETH by solving reCaptcha,
SolveMedia, playing games or mining.
Allcoins.pw is a crypto faucet that offers miner
and auto-faucet features along with a few games. The faucet is free to earn
Ether, but you need to pay for playing the games.
Fire Faucet offers multiple ways to earn ETH
tokens, including browser mining and completing captchas.
Dutchy CORP is another free Ethereum faucet
website that allows you to earn rewards by solving captchas and playing games.
In CoinMarketCap’s Earn program, you can also
earn some of the hottest DeFi tokens, such as 1Inch, Kava and Band Protocol!
You can get free Litecoin from crypto faucets,
which reward users with a small amount of LTC tokens in exchange for actions
performed on the website. Essentially, with Litecoin faucets, you’re trading
your time for rewards in LTC, also known as Litoshi. Following are two faucets
that offer free Litecoin tokens:
Moon Litecoin offers free LTC to users for
completing multiple tasks. The faucets use Coinpot.co micro wallet to store the
small rewards earned by a user. After reaching the minimum threshold, the LTC
rewards can be deposited into your wallet with no fees.
Fire Faucet is an auto faucet that pays you
Litecoin in addition to BTC and other cryptocurrencies as long as you have Auto
Claim Points (ACP). To get free ACP, you need to register on the website. The
faucet will run automatically until your ACP is exhausted. You can earn more
ACP through gift boxes and by performing tasks like visiting short links,
clicking ads, etc.
Best Bitcoin Cash Faucet
As the name suggests, a Bitcoin Cash faucet will
give you free Bitcoin Cash tokens by performing whatever options asked by a
provider on a regular basis. In general, you’ll have to sign up for a micro
wallet to use a Bitcoin Cash faucet, which will allow you to receive a small
amount of BCH tokens. The faucets below allow you to get free Bitcoin Cash:
Faucet Crypto is a multi-coin faucet that
rewards you with free Bitcoin Cash tokens along with other cryptocurrencies for
using their services. You can claim your BCH by simply clicking on the tab
“Ready to Claim”, which refreshes every 40 minutes. To get additional rewards
of free Bitcoin Cash, you can click on short links and PTC ads.
Konstantinova is another faucet that allows you
to generate free BCH tokens, but the rewards are sent out automatically to
FaucetPay.io. So, you need to create an account on FaucetPay.io. Konstantinova
allows you to claim a reward of .00000121 BCH every five minutes for a maximum
of 50 times a day.
Best Monero Faucet
People who would like to get their hands on
Monero coins for free can start by using Monero faucets. You can earn XMR
tokens on a Monero faucet by working on tasks like completing captchas and
watching ads. Some of the best faucets to earn Monero tokens are:
Monerofaucet.info allows you to earn between
0.000005 to 0.025 Monero tokens per reward, which can be claimed every 60
minutes.
Express faucet lets you claim a reward of up to
0.00042754 XMR every four hours. The faucet also has a lottery game that you
can play to earn additional free Monero if you win.
Allcoins.pw is another Monero faucet where you
can earn a reward of up to 0.00001716 every five minutes. The faucet doesn’t
have any threshold for withdrawal.
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Best ZCash Faucets
Just like other faucets, Zcash faucets offer
free Zcash rewards for completing small tasks.
Pipeflare faucet supports ZEC coin, which you
can claim every day for free by creating an account and solving one captcha.
The average claim reward is 0.0000500 ZEC and there is no minimum limit for
withdrawal.
Globalhive faucet also provides free Zcash that
can be claimed every 20 hours. The average claim reward is 0.00003100 ZEC which
can immediately be withdrawn directly to your wallet.
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:
Free - Tron has a great reputation for being a
Tron faucet for a number of users. The amount of TRX coins you get will depend
on the number you get while rolling out the wheel on the platform.
Free - Tron is a faucet where you can get a free
Tron reward by simply creating an account. The minimum withdrawal limit is set
as 10 TRX tokens that can be withdrawn without any fees.
The Faucet Crypto allows you to earn TRX tokens
for solving a captcha and by playing games every 20 hours.
Conclusion
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. Learn, earn, collect and HODL.
First assignment: Calculate how much the aforementioned 5 BTC given to the first Bitcoin faucet users as rewards are worth today. Yes, that much!
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