You’ve probably heard of the term ‘cryptocurrency’ by now, but are you actually familiar with the term ‘cryptocurrency faucet’? While these terms may seem interchangeable, there are actually a number of subtle differences between the two. Cryptocurrency and cryptocurrency faucets are essentially the same thing – they’re websites that offer free cryptocurrency for completing short tasks. The only difference is that cryptocurrency faucets don’t pay in cryptocurrency – they pay in tokens or coins of the corresponding cryptocurrency.
When people talk about cryptocurrency faucets, they’re usually referring to websites that give out small amounts of Bitcoin or other popular cryptocurrencies for performing specific tasks, or logging into their website.
Other than that, they’re essentially the same thing. Let’s take a look at exactly what each term means, and how you can get started earning free cryptocurrency as a reward for your time and effort.
What Is Cryptocurrency
Cryptocurrency is a digital or virtual currency that uses cryptography to secure and verify transactions as well as to control the creation of new units.
There are many different cryptocurrencies available, most of which are decentralized, meaning they are not under the oversight of any central authority.
What Is A Cryptocurrency Faucet
A cryptocurrency faucet is a website that gives you small amounts of cryptocurrency for completing simple tasks, or for logging into their website. In some cases, you may have to complete a CAPTCHA or proof-of-work challenge before you receive tokens or coins.
Like a regular website, cryptocurrency faucets may also have a rewards system, in which you receive extra tokens or coins for referring friends to the website. Typically, the tasks you’ll need to perform to receive rewards from a faucet fall into one of two categories: doing research or walking through a simplistic process.
How To Use A Cryptocurrency Faucet
Before you can start earning free tokens or coins at a cryptocurrency faucet, you first need to sign up for an account.
- This usually entails providing some personal details and the usual proof of identity and address.
- After you’ve created your account, your next step is to join the faucet’s Telegram group.
- Telegram groups are communities that share information, tips, tricks and guides on how to earn tokens or coins at a particular faucet.
- The more active the group, the more value it will have.
- Is earning cryptocurrency at a faucet actually worth it?
- The short answer is yes, if the cryptocurrency faucet you’re using pays out decent amounts of tokens or coins for performing very few tasks.
- The only way to know for sure is to try it out and see how long it takes you to earn the amount of tokens or coins you’d like to make.
- Some of the biggest and most popular cryptocurrency faucets pay out around 0.01–0.1 Bitcoin or Ethereum tokens or coins per task.
- Keep in mind that these are very small amounts, but if you complete enough tasks, it can add up over time.
Check out Tax ocoin, a cryptocurrency that allows you to earn a large number of tokens or coins. Cryptocurrency faucets are websites that reward you with little amounts of cryptocurrency in exchange for completing specified tasks or checking into their website on a consistent basis. Essentially, they function in the same way as a conventional website, with the only difference being that they reward you with tokens or coins in exchange for your time and efforts.