Everything You Should Know About Crypto Faucets

Crypto faucets are a reward system, in the form of a website or app, that dispenses rewards in the form of a cryptocurrency for completing tasks or activities. Faucets are a great way to get started with cryptocurrencies as they provide small amounts of coins for free. In this post, we will take a look at what crypto faucets are and how you can use them to get started with cryptocurrencies.

What Is A Faucet?

A faucet is a reward system, in the form of a website or app, that dispenses rewards in the form of a cryptocurrency for completing tasks. In other words, users receive small amounts of cryptocurrencies for free by using faucets. Faucets usually give fractions of coins but there are also faucets that dispense alternative cryptocurrencies.

How Do Faucets Work?

In order to receive a reward from a faucet, users need to complete small tasks such as watching ads or filling out captchas (simple tests used to tell if you are a human). In general, the more difficult the task is, the more coins you receive. Faucets usually give fractions of cryptocurrencies so it is not possible to become rich by using them.

The Genesis Of Crypto Faucets

The first faucet was created in 2010 by Gavin Andresen, who at that time was the lead developer of the Bitcoin cryptocurrency. It was called The Bitcoin Faucet and it gave out five Bitcoins to every visitor until the faucet ran out of funds. The Bitcoin Faucet was created as a way to promote awareness about cryptocurrencies since at that time there were only 21 million Bitcoins in circulation, but one could receive free ones by visiting the website.

The Most Famous Crypto Faucets

Today, there are many different faucets available for people to use. One of the most famous ones is Moon Bitcoin since it pays out every hour and gave away over 17 BTC in April 2018. Another popular one is Moon Litecoin which has been around since 2013 and gives out 20–30 LTC (Litecoins) every 60 minutes.

Are Faucets Useful?

Faucets are a great way to learn about cryptocurrencies and how they work. The first faucet was created as a way to promote awareness about Bitcoin so it is not surprising that most of them use Bitcoin or another cryptocurrency as their reward. Other than being a great way to learn, faucets can also help users become familiar with cryptocurrencies and how they work.

Faucets are not only a great way to learn about cryptos, but they can also be used as a way to promote your referral link or website. Once the user claims their reward, he/she is usually asked to visit another page in order to claim a bonus. In this bonus page, you might find your referral link which will send people to your site if they click on it.

Which Faucets Should I Use?

There are many online lists of faucets that can be found by simply searching for them. These lists include information about the faucet and how often it pays out, so they can help you find the best one for your needs. However, these lists are usually created by people that have never actually used any faucets, so some of them might be inaccurate or out of date.

Read more about the advantages and drawbacks of Crypto Faucets.

A Beginner’s Guide To Understand Advantages And Drawbacks Of Crypto Faucet

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I am Shweta Bhatnagar. I work as a freelance writer on Lifestyle, Entertainment, Humor, Women, Foods, Travel, Technology and Politics.

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Swetha Bhatnagar

Swetha Bhatnagar

I am Shweta Bhatnagar. I work as a freelance writer on Lifestyle, Entertainment, Humor, Women, Foods, Travel, Technology and Politics.

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