Getting Started With Cryptocurrency Faucets : A Short Introduction

in #cryptocurrency6 years ago (edited)

Welcome to this short introductory guide to cryptocurrency faucets. If you are new to cryptocurrency, check out this guide here to get yourself familiar.

Introduction

Cryptocurrency faucets reward users with Bitcoin or other cryptocurrencies such as Dogecoin, Litecoin, or Ethereum for completing simple tasks or simply filling in your coin wallet information and completing a CAPTCHA at a predetermined time interval. Captcha's are used to protect faucet owners from abuse by bots.

Faucets usually reward claimers through micropayment websites such as Coinpot or Faucethub and claimers are generally paid in "Satoshi", which are the smallest divisible units of bitcoin. Payment, however, is not just limited to Bitcoins. Faucets can be setup to pay and distribute any cryptocurrency to the faucet users, bitcoin is just the preferred and most stable method.

What Are The Purpose Of Cryptocurrency Faucets?

In general, cryptocurrency faucets will come in the form of a website or app and serve 3 purposes for both webmasters and faucet claimers.

To create a familiarity with new coins
♦ To generate website traffic
♦ To make money

Free Cryptocurrency Faucet List
  1. Moon Bitcoin
  2. Moon Dash
  3. Moon Litecoin
  4. Moon Dogecoin
  5. Bonus Bitcoin
  6. FreeBitCo

Simple Strategy

All of the "Moon" Faucets along with Bonus Bitcoin are operated by the same entity and pay out directly to a designed Coinpot microwallet. Coinpot allows for free conversion and withdraw which means you can claim from each separate coin and then convert them to one single cryptocurrency for withdraw.

Where To Spend Micro-earnings?

Many cryptocurrency exchanges will hurt smaller faucet claimers with large bitcoin/altcoin order and deposit minimums. The best exchange currently to buy/sell your faucet earnings is KuCoin Exchange as they offer extremely low minimum deposit and trade orders.

Article: A Short Guide To Getting Started With Cryptocurrency Faucets

Sort:  

You have a minor misspelling in the following sentence:

Coinpot allows for free conversion and withdraw which means you can claim from each seperate coin and then convert them to one single cryptocurrency for withdraw.
It should be separate instead of seperate.

Congratulations @travisjames! You have completed some achievement on Steemit and have been rewarded with new badge(s) :

Award for the number of upvotes
Award for the number of comments

Click on the badge to view your Board of Honor.
If you no longer want to receive notifications, reply to this comment with the word STOP

Do not miss the last post from @steemitboard!


Participate in the SteemitBoard World Cup Contest!
Collect World Cup badges and win free SBD
Support the Gold Sponsors of the contest: @good-karma and @lukestokes


Do you like SteemitBoard's project? Then Vote for its witness and get one more award!

Coin Marketplace

STEEM 0.20
TRX 0.12
JST 0.028
BTC 63721.78
ETH 3503.08
USDT 1.00
SBD 2.54