Does “free crypto” really exist? Theoretically yes: “There ain’t no such as a free lunch.” It essentially means that free stuff takes work.
What Are Crypto Faucets?
A crypto faucet is an app or a website that distributes small amounts of cryptocurrencies as a reward for doing easy tasks.
They’re given the name “faucets” because the rewards are small, 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 user’s wallet. To get free crypto, users have to complete tasks as simple as viewing ads, watching product videos, completing quizzes, clicking links, or completing a captcha.
Crypto faucets are certainly not a get-rich-quick scheme. The easier 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. Users can withdraw this reward only after reaching the minimum set threshold. With the best crypto faucets, this might take just a day, but normally, it can take longer than a week.
what is the purpose of a crypto faucet?
Though cryptocurrencies are experiencing great days, they are yet not completely mainstream and are still new to many people globally. The idea behind crypto faucets is to give free cryptocurrencies to people so they would take the time to learn about them and hopefully invest in them.
How Does A Cryptocurrency Faucet work?
The operation of a crypto faucet is mainly based on finishing easy 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 must register on a crypto faucet by entering their details along with their wallet address. After solving a task on the website, the reward earned goes to a micro wallet — a wallet similar to traditional wallets, but it can collect 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.
Introduced by senior Bitcoin developer Gavin Andresen in 2010, Bitcoin faucets were developed to give a reward of five Bitcoins for completing easy tasks. The purpose was to spread awareness about Bitcoin as the concept of cryptocurrency was very new.
Another reason to start a free Bitcoin faucet was the limited availability of exchanges in those days— there were simply no exchanges, so buying BTC was difficult. Giving out free Bitcoins to people was a great incentive to get people interested in Bitcoin and drive its adoption, without having to risk any capital.
A Bitcoin faucet can be defined as a reward system from which small amounts of BTC can be given as a reward, known as Satoshi, the one-millionth unit of 1 Bitcoin (0.00000001 BTC). The reward system offers you Satoshis in exchange for solving captchas, clicking links, or other simple tasks. The number of free Bitcoin a faucet can offer you are different — some sites have great rates, while others don’t.
Bitcoin was introduced as the first coin faucet, and it got so popular that other digital coins jumped onto the bandwagon.
An Ethereum faucet works like a Bitcoin faucet, but instead of Satoshis, it rewards users with Ether for doing various tasks. It is a great way to earn free Ethereum tokens by contributing to advertising and data mining. A few Ethereum faucet options are:
- Ethereum-faucet.org offers ETH tokens for solving captchas. Moreover, the website allows you to participate in its lottery with a contribution.
- Allcoins.PW is a crypto faucet that provides miner and auto-faucet features along with a few games. The faucet is free to earn Ether, but you have to pay for playing the games.
- Fire Faucet offers multiple ways to earn ETH tokens, including browser mining and completing captchas.
- Dutchy CORP is another free Ethereum faucet website that enables you to earn rewards by solving captchas and playing games.
You can get free Litecoin from crypto faucets, which reward users with a small amount of LTC in exchange for actions performed on the website. Essentially, with Litecoin faucets, you’re trading your time for rewards in LTC, also known as Litoshi. Here are two faucets that offer free Litecoin tokens:
- Moon Litecoin offers free LTC to users for completing multiple tasks. The faucets use Coinpot.co micro wallet. After reaching the minimum threshold, the LTC rewards can be deposited into your wallet with no fees.
- Fire Faucet is an auto faucet that pays you Litecoin in addition to Bitcoin and other cryptocurrencies as long as you have Auto Claim Points (ACP). To get free ACP, you have to register on the website. The faucet will run automatically until your ACP is exhausted. You can earn more ACP through gift boxes and by performing tasks like visiting short links, clicking ads, etc.
Bitcoin Cash Faucet
As the name suggests, a Bitcoin Cash faucet will give you free BCH tokens by performing whatever options are asked by a provider regularly. Generally, you’ll have to sign up for a micro wallet to use a Bitcoin Cash faucet, which will enable you to receive a small amount of BCH tokens. The faucets below allow you to get free Bitcoin Cash:
- Faucet Crypto is a multi-coin faucet that rewards you with free BCH tokens along with other cryptocurrencies for using their services. You can claim your BCH by simply clicking on the tab “Ready to Claim”, which refreshes every 40 minutes. To get more rewards, you can click on short links and PTC ads.
- Konstantinova is another faucet that enables you to generate free BCH tokens, but the rewards are sent out automatically to FaucetPay.io. So, you need to create an account on FaucetPay.io. Konstantinova allows you to claim a reward of .00000121 BCH every five minutes for a maximum of 50 times a day.
A Tron faucet acts as a rewarding system for people looking to earn free Tron tokens. By playing games, referring friends, completing surveys, and more, you can earn free TRX tokens. Below are a few faucets you can use for earning Tron tokens:
- Xcolander.com has an excellent reputation for being a Tron faucet for several users. The amount of TRX coins you get will depend on the number you get while rolling out the wheel on the platform.
- Free – Tron is a faucet where you can get a free Tron reward by simply creating an account. The minimum withdrawal limit is set as 10 TRX tokens that can be withdrawn without any fees.
- The Faucet Crypto enables you to earn TRX tokens for solving a captcha and by playing games every 20 hours.
You can earn money by crypto faucets, but try allocating some of your time and energy to learn more and more about cryptocurrencies.
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