What is a crypto faucet ?
Crypto faucets give you free bitcoin (or other altcoins). Although not exactly for free, actually it is an exhausting and really boring way to make a decent amount of money out of it but it’s not impossible. I would add that it would be more profitable and practical to use cloud mining, as for a few dollars you can get a mining contract that would equal the money you get from claiming your hard earned satoshis (1/100.000.000 BTC).
Faucets are websites where you can claim in a period of time a given amount of satoshis or other altcoins in exchange for usually whatching ads on the site (or fulfill surveys/complete tasks). These sites have some common features, these conclude the following:
• On the faucet sites usually there are ads. Advertisers pay those who run the site money to place their ads. This is where your money is coming from as the operators give away a cut from their income. It’s a win-win situation.
• To claim our coins we have to give our bitcoin/altcoin address and have to solve a captcha. Then we have to claim a few more coins as it is not possible to transfer such low amount of money without almost losing all of it (due to transaction fee which is getting more expensive).
• Almost every faucet site use a different time period when you can claim your coins. On some sites you can claim your coins after 5-10 minutes, others can make you wait an hour or even a day.
• The amount of money you can claim on faucet sites range from a few dozen to a hundred satoshis in a few hours of time.
• Most of the sites reward you for inviting your friends to the site by using a referral link. Then you get bonus coins as your friends make money.
Faucet sites come and go and it is relatively easy to create such a site. Although not many sites market themselves enough, there are a lot of sites who give away almost nothing and there are plenty of those which are cumbersome to use. Therefore the majority of these sites have a lifespan of only a few months but there are exemptions….
We can say that a two or three years old faucet site is relatively rare as everything is changing so fast in the world of cryptocurrencies. The faucet site Freebitcoin dates back to 2013 and it still operates. I use it regularly and I have never experienced problems with its services. They even integrated a satoshi dice game to their site where we can even multiply (or lose) our hard earned satoshis as well as you can place ads on their site (like your own faucet site).
With faucet sites we can get fast and easily small amount of crypto coins. Using faucets is not so exciting but if you are adamant you can get a little capital to start your journey in the world of cryptocurrencies. You can play on casino sites/start to trade with cryptos/buy a cloud mining contract/buy a mining machine.
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