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 users 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.
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 crypto faucet 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.
The risks of using Bitcoin Faucets is quite low. In the worst case, the user loses only the money earned, but not withdrawn. The investment made was time. Some scam websites posing as faucets demand deposits under the pretext of paying a withdrawal fee. At the same time, they claim that the money will be returned along with the withdrawn Satoshi. The owner of the website blocks the user after the deposit, and the user does not receive the earned coins or the deposited amount.
Bitcoin taps are one of the few ways to get cryptocurrency for free, although the earnings are tiny. Even if you sign up to a large number of cryptocurrency taps, you will still earn little. Considering the fact that cryptocurrency faucets are a boring, monotonous form of earning, their main visitors are crypto newbies. For them, faucets are a way to get acquainted with cryptocurrencies and the basics of crypto transactions for free.
There are many Faucets Sites which claim to be legitimate and secure. But unfortunately the History of Crypto Faucets showed otherwise and there were many Scam Sites which promised Payments but never paid their Users. On our Site we want to list all legit Faucets and help our Visitors to find the best Sites.