What is a cryptocurrency faucet?
A faucet is a site which gives you fractions of a crypto currency for free, yes free! These fractions (rewards) are usually released after a particular interval e.g. after every 5 minutes. For some Faucets, you’ll need to prove (by solving a simple captcha) that you’re human and not a bot before these rewards are released to you.
Why do faucets give out free coins?
1. To introduce whichever coin involved to new users, allowing them to experiment transacting with it them. This is however rarely the case these days as most faucets deal with already popular coins like the bitcoin, litecoin, dash etc.
2. To attract and retain site visitors; this is in fact how faucet owners make money, companies pay to have their ads run on the faucet while the faucet owner gives out some of the ad revenue to attract and retain visitors on the faucet/site.
Simply put, faucet owners pay you to visit their faucets and view ads.
Important point to note
There are many fake faucets out there so you need to be careful not to waste your time or give out vital info to such fake faucets. Below is a list of genuine faucets (tested and proven) guaranteed to give you regular payouts. You however need to open a CoinPot Microwallet to receive these payouts, not to worry, a Coinpot Microwallet makes the process a whole lot easier for you!
For Bitcoin Cash
Note that these are referral links to the faucets, you do not have to sign up using them, if however you do sign up using them, it would be a much appreciated tip to Techiewave :).
Important point on coin faucets
Faucet claims are usually very small amounts and cannot replace a regular income source. It can however be accumulated over time and coupled with the rise in prices of coins, can be really worth the while. Personally, I’ve made a couple of dollars in different coins from making faucet claims roughly once a day from the above mentioned faucets. I strongly advise you to get on board and maximize this zero risk and very cheap opportunity of earning free coins.
Stay tuned for the next post on Margin funding.