A crypto faucet is a website or application in which you can earn, for doing menial tasks, fractions of cryptocurrencies. Free crypto faucets are ideal platforms for those who want to explore the world of blockchain without having to invest money into it.
Crypto faucets work on the principle of distributing small amounts of crypto in exchange for you doing simple tasks. Your tasks might include solving captchas or watching promotional videos. You will then keep or exchange your earnings into crypto and traditional currencies. A crypto faucet promotes the adoption of blockchain technology by providing an easy way to use DLT.
It was Gavin Andresen, former-chief developer of the Bitcoin network, who created the first crypto faucet in 2010. His “Bitcoin Faucet”, at that time, offered 5 bitcoins to each user who completed a simple captcha. In total, the faucet paid out more than 19,000 bitcoins, which helped to diversify the distribution of cryptocurrencies amongst the early adopters of bitcoin.
But what exactly are the best crypto faucets?
What Is a Crypto Faucet?
A free crypto faucet is an online platform that pays crypto to its users in exchange for viewing advertisements, solving captchas or participating in surveys. Users can collect their fractional crypto and withdraw them to their personal wallet after reaching a minimum balance.
For blockchain businesses, crypto faucets promote the adoption of their cryptocurrencies, enabling users to discover and interact with DLT technology like Ethereum. The best crypto faucets are also a way for new cryptocurrency projects to promote themselves to the wider public.
Free crypto faucets offer various cryptocurrencies, and each has its own distribution methods. The days of earning 5 bitcoins for simple tasks, however, are no longer the case. Today, you will only earn fractions, and it could take several months to reach a minimum for withdrawal. Regardless, faucets are still a good way to mine cryptocurrencies without spending a dime.
How Does a Crypto Faucet Work?
To get started with a drip crypto faucet, you’ll need to register on an approved platform with your personal-wallet address. Once registered, you can start completing the available tasks to earn fractions of crypto. These fractions are added to your wallet gradually and can only be withdrawn after reaching a minimum amount as defined by the platform.
Among the tasks most frequently requested by free crypto faucets, watching videos, reading articles, viewing ads, participating in quizzes, surveys or video games are common. You can earn by referring friends also. Many tasks tend to be simple, but some can be time-consuming.
How to Start With a Crypto Faucet?
Here are some considerations when registering with a crypto faucet:
- Select your crypto faucet platform: Consult our guide below to choose a website or application that is both reliable and secure.
- Create an account: You will need to provide your personal information, including name, email and wallet address in order to receive rewards.
- Verify your identity: Some drip crypto faucets ask you to verify your identity with additional information such as your phone number or proof of identity.
- Complete Tasks: Once you create an account and verify your identity, you can start completing tasks to receive rewards.
- Accumulate your rewards: Repeat the set tasks to regularly receive rewards.
- Withdraw your funds: The best crypto faucets require a minimum balance before you can withdraw funds. Once you have reached this threshold, you can make withdrawals to receive funds into a personal wallet.
The Best Crypto Faucet Sites and Apps
We carefully chose the best crypto faucet sites and applications for their reliability, security and reputation among users. At Tokize, we see these platforms as offering some of the most generous rewards and a great variety of tasks for earning through.
This site offers a variety of tasks for earning bitcoins from, which includes games, lotteries and special-bonus offers. They have a referral system from which you can earn additional bitcoins by referring friends. FreeBitcoin is a reliable and secure drip crypto faucet.
The minimum withdrawal on FreeBitcoin is 30,000 satoshi or 0.0003 BTC.
2. Moon Bitcoin
Moon Bitcoin lets you earn bitcoins by solving captchas or clicking on ads. It has a loyalty bonus system, which allows users to earn bitcoins for each consecutive day of using the site.
3. Bitcoin Aliens
This application is only for mobile devices. You can earn bitcoins by solving captchas, playing games, lotteries or viewing ads. The app offers an ergonomic interface and has a sponsorship system that allows you to earn additional bitcoins by inviting friends to join.
Via its website and app, Cointiply offers the opportunity to earn several types of crypto when you complete games, offers and surveys. The site includes a loyalty-bonus system that lets you earn additional bitcoins for each consecutive day you use it.
5. Faucet Crypto
Faucet Crypto is a must-have, and you’ll find tasks like solving captchas, participating in games, playing lotteries and viewing ads. Faucet Crypto is known for hosting a wide variety of cryptocurrencies, which include bitcoin, ether, litecoin, dash and dogecoin.
A Look at the Potential Risks
Since we’ve devised a reliable list of crypto faucets, we encourage you to discover other platforms with a grain of salt. Random-crypto faucets do pose certain risks when they are unregulated. Be sure to check the reputation of the site or app before participating in it.
Faucets can indeed be targets for scams and data theft. Therefore, be cautious when you share personal information, download software or complete transactions.
The risk on time
Some rewards are too small and not worth the time or effort. Carefully weigh out the pros and cons before deciding to participate in a faucet, and keep in mind that the winnings are often low. As for avoiding any scams, the bigger the rewards, the more risks you’re likely to face.
Fake crypto faucets
Not every site claiming to be is actually a drip crypto faucet. Alongside sites where you risk your data, hackers are also creating fake websites that they present as authentic. You not only won’t earn any money, but you’re also likely to lose your personal funds. On fake sites, it’s typical for hackers to ask for deposits first, which is promised to be returned with any “winnings.”
The dangers, however, don’t end there. Hackers will use your faucet’s registration to get you to disclose the private key of your crypto wallet. This could end in you being stripped of crypto.
Our Final Stance On Crypto Faucets
Free crypto faucets can be good ways to discover new cryptocurrencies and test them without investing your money. However, the gains from faucets are low and can’t be relied on as significant income. We’re making this statement by comparing this income to mining crypto.
Before choosing a crypto faucet, take stock of the advantages and disadvantages and, above all else, be aware of expecting significant gains. Drip crypto faucets can be a way to learn about the world of crypto, but they often aren’t seen as a long-term solution to generating income.