How Cyptocurrency Faucets Work
Faucets are sites that give typically give out teeny tiny amounts of digital currency or ‘drips’ -- hense the name. These sites generally have the user enter in their wallet address or sign up to a site like Coinhub in order for those drips to add up to a specific coin amount is met allowing withdrawal to your wallet.
When you get to these sites you will see some well put together, reliable sites like moonbit, but others may look like terrorist ransom notes but still will payout after you enter a captcha. I visit sites occasionally on my desktop but also have a faucet ‘rotator’ App on my phone that has a list of sites to visit.
There are faucet sites for many digital coins and with digging you could even get a little digital coin in your pocket to get started without putting in any money with a solid commitment to entering captchas and frequenting many sites. I started out this way years ago and had change in my digital wallets from years ago.
The one thing I’ve always heard from people unfamiliar with digital currency and Bitcoin is that most say it’s a scam. When asking them follow up questions asking them why they don’t generally have any solid evidence to back them up, I’ve personally been able to get ‘bits,’ pun intended for free that I’m lending on Poloniex!
It takes work but I always encourage anyone skeptical in the least to at least get their first Bitcoin address from freebitco as mentioned in our quick start guide. This way they can get their first satoshis for free and explore the market under everyone’s nose. Freebitco, as mentioned frequently at Blox has an hourly faucet that also pays 4.08% compounded interest daily on balances over 25,000 satoshis.
This makes a great starter site to give you an idea on faucets and also dip your feet in the crypto pool. If you use your desktop or laptop computer to visit sites always be wary of potentially dangerous sites. Use adblockers and if your browser thinks a site has some bad juju, steer clear. No few bits are worth the frustration of getting and removing a virus from your computer.
We’ve mentioned in our other articles but it’s worth remembering that if you plan on frequenting multiple faucet sites and registering for them, its worth using a separate email address due to the emails. It saves frustration in digging through your regular email address to hunt down what sites you’ve gone to and want to go back to.
Another big reminder is never use the same password to any of your wallets, exchange sites or other important accounts at faucet sites. I personally trust very few and make sure I don’t use a redundant password that could lead me to losing any of my digital coins. Having a notepad and a word or excel sheet to track different sites would be a benefit to faucet hunters and I can’t say enough, the potential to make a little crypto scratch.
At Blox, we not only want to become the best source for cryto news, but want to get more people involved into this growing technology and market which will not only benefit peoples wallets, but also their lives.
We’re always interested in great faucets, would like to contribute to Blox or news releases, email us at firstname.lastname@example.org. We’ll have our Seize Your Bits section open soon with great sites to check out!
A few Reliable Faucets