What Is A Crypto Faucet? Starter Guide
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In this guide, we’ll look at what crypto faucets are, how they work, some variations of them, and which you should give a try.
CONTENTS
What is a cryptocurrency faucet?Are crypto faucets and Bitcoin faucets the same thing?
Auto faucets and faucet rotators
Faucet Bots – Pros and Cons
Video faucets
Beware of faucet scams
Getting started with crypto faucets
How to use faucets
Other ways to earn money from faucets
How much money can you make from faucets?
How can I earn more from faucets?
What about dice faucets?
Best cryptocurrency faucets
Best Bitcoin faucets
Best Ethereum faucets
Best Dogecoin faucets
WHAT IS A CRYPTOCURRENCY FAUCET?
Like a dripping faucet, these virtual ‘faucets’ (websites) release small amounts of cryptocurrency like Bitcoin every few minutes. It’s like a very slow drip. By performing some type of task your digital wallet receives a small amount of cryptocurrency.There are several types of tasks you might encounter in a crypto faucet. Some might require you to click through some captchas, others might just log how much time you’re on the site and count down until the next release, and some let you play games.
How can the sites afford to do this? Advertising. While you’re waiting on the page, there will be advertisement placements.
Keep in mind, you’re not going to make much money using Bitcoin faucets or any kind of crypto faucet. However, if the coins you earn increase in value, then the millionths of a certain coin you’ve collected will grow in value as well.
These faucets are pretty manual, which turns a lot of people off of them, but there are ways around this.
ARE CRYPTO FAUCETS AND BITCOIN FAUCETS THE SAME THING?
Bitcoin faucets are one type of crypto faucet (though the most common one). Bitcoin is one of many cryptocurrencies. It just happens to be the first and most popular one so most faucets tend to pay out in Bitcoin.The only difference is that Bitcoin faucets pay out in Bitcoin and other crypto faucets pay in some other cryptocurrency (and may also pay out in Bitcoin). See below for a list of the best cryptocurrency faucets, including Bitcoin faucets, Ethereum faucets, and Dogecoin faucets.
AUTO FAUCETS AND FAUCET ROTATORS
Auto faucets and faucet rotators are two tricks that people have found to get around needing to sit at a computer, clicking through faucet pages. That being said, because they automate (or semi-automate in the case of faucet rotators) the process, you also don’t earn much at all, and it’s not necessarily a good idea to use them (see next section).Essentially, auto faucets are bots that move their way through sites on their own. However, that doesn’t mean users are getting much. For example, Automatic Faucet Bot 3.0 states that a day of using the bot can earn 0.0006 satoshi. At current exchange rates, 10,261 satoshi is equal to $1 USD. That means you’d have to use the bot every day for 360 years to make $1. However, there’s always the chance that 1 satoshi could end up being worth a dollar or more.
There are ways to semi-automate the process that are much better than using bots. Faucet rotators help you out by changing the site you’re parked on, but you’re still the one on the computer clicking and navigating through the hurdles that earn your coin.
FAUCET BOTS – PROS AND CONS
People use faucet bots because it automates their work, but it doesn’t mean it’s a good thing to do as there’s an ethical reason not to use them. We’ve collected some pros and cons to using faucet bots here.Pros
Automation – Bots automate the process of earning, letting users rack up small amounts of coin for doing nothing.
Achieve minimum payout – Since some sites won’t let you cash out until you hit a certain point, which may be difficult unless you’re on it for hours, bots help people hit those marks.
Cons
Tragedy of the Commons – It’s a classic case of tragedy of the commons where individual gain trumps long-term benefits. Some people say that bots kill the faucets because advertisers don’t want to pay the CPMs (the usual form of payment for faucet advertising) if they know that it’s not a real person looking at their ads so it eventually hurts faucet users through lower rates paid out and less faucets to use.
Losing earnings – Faucet owners and microwallet providers are continually getting better at detecting bots. If your bots are detected, or even suspected, you’ll lose any accumulated earnings, but you’ll still have to pay whatever fees the bot maker is demanding.
If you’re not coding your own bots, and cannot parse code well, you have no way of knowing what else your bot software is doing. You might buy that really cheap bargain off that dodgy looking guy in the market, but would you invite him into your house and leave him there?
VIDEO FAUCETS
Have you ever played a mobile game that offered a paid benefit for just a few moments of your time to watch an ad? That’s how video faucets work. Since it’s usually pretty clear whether someone sat through the whole ad or not (of course, there are advanced bots that get around this), these can offer more cryptocurrency in exchange, but that’s not always the case.BEWARE OF FAUCET SCAMS
Before getting started know that there are a good number of scammy Bitcoin faucets (lots of scams in general in crypto). Check out a faucet scam warning site like this one before selecting the faucets you’re going to use. Then check back on the site periodically to see if the list has changed.GETTING STARTED WITH CRYPTOCURRENCY FAUCETS
Now that you know the basics of crypto faucets and the different ways people utilize them, let’s talk about how you can get started.HOW TO USE CRYPTO FAUCETS
Every site is different, but to use most faucets, you’ll just need to get a cryptocurrency wallet. If you’re fairly new to the cryptoworld, then you may want to look into a software wallet like Jaxx or Exodus. And if you’re super new to this, sites like Coinbase might be your best bet. This platform gives you a Bitcoin, Bitcoin Cash, Ethereum, and Litecoin wallet that you can link to your bank account for direct conversion and deposit of your coins. Additionally, you can use these wallet addresses to store the money from these faucets.So, your first step is to get a wallet for the coin the faucet uses. Make sure you’re clear on what the coin is before you start catching the drips.
Depending on the site, you may be required to register. If so, it’s not all bad news because you can make money off that membership, which we’ll explain next.
OTHER WAYS TO EARN MONEY FROM FAUCETS
Using the example above, it’s easy to see how it can take a long time — or be a gamble in terms of which coin to collect — to use faucets. So, there are other ways to maximize your crypto earnings from these.Affiliate marketing – Some faucets give out referral codes. When you add that referral code as a link to your website (or pass the link around through email) and someone clicks on the link and registers a faucet account, you get a percentage of what people earn on that faucet.
Start your own faucet – The other creative way to make money off of faucets is to start your own. When people use your site’s faucet they’re staying on your site and clicking through pages that have ads on them. As people click through the pages each of those impressions adds up. Believe it or not, there’s a simple WordPress faucet plugin to easily add it to your own site. The plugin does the hard work of hosting the faucet and working with the advertisers. You’ll get paid per CPM (Cost per thousand impressions), typically.
Private advertising – There’s a double perk to using the above WordPress model. If you snag a crowd that’s willing to watch your faucet for any amount of time, it could increase the overall time on page for your visitors. You can in turn take this figure and present it to potential advertisers who are looking for a flat rate to place a banner ad on your site.
HOW MUCH MONEY CAN YOU MAKE FROM CRYPTO FAUCETS?
It’s tough to make much off of faucets. You’re earning pennies per hour, not dollars. The real value lies in the coins and how much they’ll be worth in the future. For example, if you used a faucet for one day and made 0.0003 of BTC, that would come out to about $3 (using current exchange rates). But if bitcoin goes up in value 10x that’s then worth $30.Bottom line, don’t quit your day job to go all in on crypto faucets, but it’s not a bad idea to tap into them every now and then when you’re on the computer anyway.
HOW CAN I EARN MORE FROM BITCOIN FAUCETS?
Use the tips above to get the most from your faucets. Beyond that, there are some other things you’ll need to know so that you keep your free earnings:Know the minimum payout – whether you’re filling out surveys for cash or using faucets for cryptocurrency, there’s nothing worse than spending hours on a site only to find out it will be days or weeks more of the same until you can cash out any earnings. Know the minimum withdrawal before you spend your time on the site.
See if there’s an expiration for your coins – if you take too long to accrue the minimum, some sites will reset you back to zero, effectively undoing any of the time you’d put in.
Check if there’s a referral program – if you’d like to try to make money from affiliate marketing, then make sure they have a program like that first. This is a great option if you have a blog, vlog, or other platform you can leverage to feature your code on.
WHAT ABOUT DICE FAUCETS?
So, there’s one part of the faucet world that isn’t like the others. Dice faucets fall somewhere between the crypto gambling sites and the faucets. These use a dice rolling game to let people gamble. Sites like Free-Dogecoin allow you to add your own funds or you can use a faucet to give you funds. You’ll play a game like tic tac toe to earn the faucet funds. However, you can only get money from the faucet if you have none in your account.Even though this is a gambling site, you still shouldn’t expect to walk away with a fortune. A high jackpot will still only come out to about 0.00002 BTC or $0.20 (as of current rates). They’re a much more fun way to earn free money than typical faucets, but there’s also the potential to lose it. Think of these as penny slot machines with a much lower potential payout.
BEST CRYPTOCURRENCY FAUCETS
There are faucets for all kinds of different cryptocurrencies, and many will even let you convert on their platforms. But some work better for certain coins than others. Here are some of the best faucets for each of these top coins. ..Best Bitcoin Faucets
There are some really fun Bitcoin faucets out there, and some really boring ones, depending on how you like to spend your time. Here are a few recommendations below (for a more extensive listing, read our article, “9 Best Bitcoin Faucets in 2019“).
Moon Bitcoin – Moon Bitcoin is a favourite among many, because it’s got a simple interface and a good referral system. It’s also available for other coins, so it doesn’t appear on the lists below, but just know it’s equally good for them.
Bonus Bitcoin – This faucet system is known for having a ton of faucets. If you’re waiting for one to let time elapse, just tap into another one in the meantime.
FreeBitcoin – With a simple user interface that’s free of annoying popups and a range of ways to play, FreeBitcoin is one of the best faucets. One bonus to this site is that they pay interest on your account as long as you have a minimum balance of 0.0003 BTC. They also offer a referral program that pays out a 50% fee on new members you bring in for life. ..
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