Buying or mining crypto can be a fun and lasting experience but sometimes, it can be expensive. If you’re not ready to purchase crypto with your own money but want to take part in the crypto game, the best option is through cryptocurrency faucets. Surely, you must have wondered at some point in your crypto adventure, How do I get free bitcoins? This is exactly where crypto faucets enter the game.
At first glance, crypto faucets might seem like a scam, since they leak free cryptocurrency out of the blue, but we assure you there’s nothing to worry about as there are legit faucet sites that leak free crypto as a reward for participating in their designated activities.
We are aware that the online space is full of fake faucets with surveys full of viruses, spyware, and false captchas. However, the ones that we will highlight in our article are reliable and have been around for years.
We invite you to read this article if you want to find out more about Bitcoin faucets, how they work, which ones pay the most and are safest to use, and more.
What Is Bitcoin?
Before we start explaining the nature of Bitcoin faucets, we should address what Bitcoin is to prepare you for your journey.
Bitcoin (BTC) is a peer-to-peer digital currency, created in 2009 by the mysterious and pseudonymous developer Satoshi Nakamoto. Bitcoin was created as a direct result of the 2008 economic crisis, as it promised a revolutionary improvement over traditional online payment methods, eliminating third-party involvement like banks and intermediaries and their high transaction fees.
The greatest advantage that Bitcoin has is that it is completely decentralized, meaning it doesn’t rely on any central authorities like central banks or governments, and, contrary to government-issued currencies like the US dollar (USD), Bitcoin isn’t held back by inflation. Instead, Bitcoin’s financial foundation revolves around its blockchain network.
Blockchain is a decentralized public ledger that is made up of a chain of blocks filled with transaction data, all of which have a predetermined memory limit. Every Bitcoin transaction ever conducted is stored on the blockchain and can be accessed by anyone. The way it works is that Bitcoin miners fill these blocks with data by solving complex mathematical problems. The first miner that solves a problem and fills a block with data, gets a small crypto reward.
Bitcoin started out with a modest price back in the old days but, over the course of a few years, it managed to take over the world as a tempest, gathering more power and value as it expanded across the globe. As a result, these days, a newcomer can seldom purchase a full Bitcoin, or invest in a mining rig to mine their own coins because it’s all too expensive. Bitcoin faucets are here to ease a user into the world of cryptocurrency without them investing a cent, as a sort of a trial version if you will.
A Short History of Bitcoin Faucets
The first Bitcoin faucet was released on the internet only a year after Bitcoin’s initial release. The year was 2010, and back then, almost no one had heard of cryptocurrencies or Bitcoin. In those days, Bitcoin was practically worthless.
Here is when a man named Gavin Andresen tried his hand at making a difference. This man was an avid cryptocurrency supporter right from the start, viewing crypto payments as the way of the future.
His original idea wasn’t to give out free crypto just for fun or create a high-paying faucet. Instead, what he wanted was to raise awareness and familiarize people with cryptocurrency. In some ways, he was a true crypto neo apostle, spreading the good coin among his newly found crypto-flock. His idea was to give out free crypto in order to pique people’s interest, something like a reward for spending a few hours of their time to educate themselves on cryptocurrencies and blockchain technology.
In 2010, he gave people 5 whole bitcoins for solving a few captcha questionnaires. Yes, you read that correctly. But as we said, Bitcoin’s price back then was nothing compared to today’s value. Over time, more and more Bitcoin faucets emerged, and there was some intensive internet browsing and scouring to find out which one gave out the most crypto.
Today, there are thousands of Bitcoin faucets on the internet and many of them boldly state that they are the highest paying ones.
What Are Crypto Faucets?
Crypto faucets are websites or types of apps that give out small amounts of crypto to those who complete simple tasks. These tasks are mostly watching product videos, playing Bitcoin video games, answering surveys, clicking links, viewing ads, completing captchas, and more. The more complex the task, the more crypto you earn.
The name faucet comes from the way this coin provider operates. The nature of their rewards resembles small drops of water leaking from a rusty old faucet. When you put a bowl underneath a leaking faucet, eventually it will fill up.
So, how does it work?
How Do Crypto Faucets Work?
The operation mechanism of a crypto faucet is based on completing small and simple tasks and participating in various activities. The faucet’s website or app can fix the rewards in designated timestamps or set a time lock for claiming rewards.
The first thing you need to do when you choose a faucet is to create a profile and link your digital Bitcoin wallet to it. Most faucets use micro-wallets to store your crypto but when you have amassed an amount that has some value, we suggest transferring the faucet-crypto into your own wallet.
Most faucet apps or websites have a minimum payout threshold. The rewards you’ve gathered for completing tasks are stored on the site’s wallet, and you can withdraw them when you reach the minimum set payout. On the most commonly used faucets, this can be achieved within a day, but oftentimes, it can take weeks or months to reach the threshold.
Some faucets even transfer your crypto automatically when you’ve reached their payout threshold. These rewards usually come in small fractions of 1 Bitcoin or in satoshis. Satoshi is a one hundred millionth part of a whole Bitcoin or 0.00000001 BTC. Every crypto faucet gives out a minimal amount of satoshis, so it’s definitely not a quick way to get rich, but hey, it’s still something.
Types of Cryptocurrency Faucets
Faucets aren’t limited to Bitcoin faucets, which means there are also faucets for other popular cryptocurrencies like Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), Monero (XMR), etc.
Apart from making Bitcoin more popular, the world needed faucets back in 2010 because there was a limited number of crypto exchanges, which made purchasing Bitcoin pretty difficult. Faucets became a great way to popularize this new cryptocurrency and gather a user community. This seemed like a good solution and as soon as other cryptocurrencies emerged, altcoin faucets appeared too.
One of the best Bitcoin faucets is Cointiply. Cointiply was founded in 2018 and has been on the rise ever since. It sports a fashionable user interface and offers different ways of earning faucet rewards, from games to plain captchas. The site offers 200 satoshi every 60 minutes and a minimum withdrawal to your wallet when you’ve collected 50,000 satoshis.
For users that are feeling lucky, the site offers a coin multiplier for some bonus bitcoins. All in all, Cointiply is a stable and reliable faucet site with a large number of users.
Moon Bitcoin is another great choice for faucet rewards that has been in existence since 2015. The average reward here is around 10 satoshis, and although this sounds like a larger reward, 10 satoshis still amount to only $0.0050.
There is an option to do CPU mining in the background if you are familiar with how that works.
Moon Bitcoin uses the CoinPot app to pay their users. CoinPot is a multi-crypto micro wallet app that enables users to transfer crypto assets from crypto faucets to their own personal digital wallets. Their withdrawal limit is 10,000 satoshis with a fee and 50,000 satoshis without any fees.
Bitcoin Aliens is a mobile app/video game that offers earnings in satoshis as you play the game and complete daily missions. The game is available on the Android playstore for free.
Ethereum faucets work just like Bitcoin faucets except instead of satoshis, you are awarded with Ether for completing different tasks. It’s a fun way to dip your shoes into different cryptocurrencies and assist in data mining and advertising.
Ethereum-faucet.org offers Ether tokens as a reward for completing various captchas. They also have their own lottery for which you get tickets by completing tasks. There is an option to claim up to 489 gwei (the same thing as a satoshi for Bitcoin) every 240 minutes and with each claim, you get a free lottery ticket. You can earn between 0.005 to 0.015 ETH daily by taking part in the lottery. This faucet has over 100,000 users and has paid out more than $6,000.
Allcoins.pw is an Ethereum faucet that offers mining and automining faucet features and also a plethora of crypto-games that you can enjoy while making money. The regular faucet options are free of charge but for some games, you might need to deposit crypto. They support over 29 different digital assets including their main crypto – Ethereum – and offer a payout of 7.430 gwei every 5 minutes. They also offer the choice to run the faucet on 3 different cryptos at the same time.
You can receive free Litecoin from Litecoin faucets. These faucets reward users with small amounts of Litecoin tokens called litoshis for performing daily tasks on the websites.
On Free Litecoin, you need to play crypto games and complete captchas to earn Litecoin. You can make claims on this website every hour without daily limitations. The positive thing about this site is that there are no withdrawal limits, so you can withdraw unlimited amounts of Litecoin. They also offer a 6% return of interest if you keep your LTC on their site for over a year.
Fire Faucet is an automatic faucet that offers multiple cryptos including Litecoin. It operates through Auto Claim Points (ACP) and they are required to keep the tap running. The faucet will run until all of your ACPs are exhausted. In order to get free ACPs, you need to complete the daily tasks or receive them as gifts and gift boxes.
Bitcoin Cash Faucets
As is suggested by the name, Bitcoin Cash faucets will leak Bitcoin Cash tokens in exchange for completing the tasks featured on the faucet.
Faucet Crypto is a crypto faucet that leaks Bitcoin Cash (BCH) among other cryptocurrencies. As usual, you need to complete various tasks in order to receive crypto. It’s easy to claim the crypto you’ve earned once you’ve reached the payout threshold: you just have to click on the “Ready to Claim” prompt.
Monero faucets are faucets that leak Monero tokens.
Monerofaucet.info is a crypto faucet that leaks Monero tokens (XRM) in exchange for taking part in the faucet activities. You can earn from 0.00005 to 0.025 XMR on a daily basis and they can be claimed every 60 minutes.
A Few Words Before You Go…
In this article, we’ve shown you how crypto faucets function, how to access them, and which ones are the most profitable. This way, you can get your hands on some free crypto, as a trial before venturing on your own into the world of crypto investments.
Although it might not be like the olden days, when they were giving out whole units of crypto as if it were candy, you can still make a small profit if you use them today.
Whether you’d like to stick with Bitcoin or try your hand at different cryptocurrencies, the choice is yours alone. You saw that the options are nearly limitless, so choose your faucet and start filling those captchas or tackling some daily challenges. You can make a quick dollar out of fun and games!