There are many routes into the crypto market for investors: purchasing a coin, trading on an exchange, or even mining directly. Yet, making an informed decision between these alternatives requires a certain degree of technical expertise.
Recently, cryptocurrency companies have tried to fill this potential knowledge gap and spur growth in cryptocurrency adoption by setting up crypto faucets.
Faucets are applications that allow users to distribute and access cryptocurrencies without need for mining. As this model aims to address the technical difficulties of mining cryptocurrencies, it includes those users who are not familiar with the mining process but still want to obtain their share of cryptocurrencies.
These sites reward users with small amounts of Bitcoin when they complete a task on their platform, such as visiting ads, completing a captcha or playing games. Faucets then pay participants in Satoshis, the smallest available unit of BTC: a hundred million Satoshis equal one Bitcoin.
The faucet makes revenue by sharing its advertisement proceedings with users, as advertisers pay per click and by impression rates. This encourages users to return and spend as much time as possible interacting with the content, ensuring ad exposure.
One of the most recent faucets to arrive on the market has been launched by the Tezos Foundation and is targeted at developers. The Tezos mainnet allows developers and users to request XTZ tokens for development and testing purposes.
Because the service is free of charge, users may be sceptical of its legitimacy. If you are considering using faucets, be sure to do your research about the various services, weigh up the pros and cons of signing up, and always take precautions online such as never entering your addresses, public keys, or private keys on websites and forums.
Online Blockchain’s FreeFaucet: The ‘Yahoo of Crypto’
In 2019, Online Blockchain (OBC) launched its faucet product, the FreeFaucet, an easy service intended to make cryptocurrencies available to more people. So far, it has proven very popular: in eight months, OBC’s FreeFaucet has gathered more than 40,000 registered users, increasing its userbase by approximately 150 a day.
“With crypto faucets, we take that technical difficulty away. People can get a little Bitcoin, a little Ethereum, a little Brazio ̶ they can just get it on the website. If they want to get more, they can subscribe,” said the CEO of OBC, Clem Chambers.
OBC’s FreeFaucet, claimed to be have some of the highest paying faucets on the net, offers many popular cryptocurrencies including: Bitcoin, Ethereum, Litecoin, Dogecoin, Monero, alongside OBC-owned cryptocurrencies such as PlusOneCoin, Buenos and Brazio. Free registered users can make three claims per day.
In addition to conventional faucets, FreeFaucet.io offers its free users a number of ways to net cryptocurrencies:
● External webfaucets — cryptocurrency can be earnt by performing actions on other websites
● Email faucet — users can claim cryptocurrency by accessing faucets sent to them via email
● Impression faucets — an advertising disruptor; anyone registered can claim free cryptocurrency simply by checking out interesting featured projects on the site
● Geofaucets — QR codes at set locations, which when scanned reward the scanner with cryptocurrency. Additionally, anyone can set up their own Geofaucet and make a passive income
● Bitferno — a powerful cryptocurrency miner used to mine brand new cryptocurrencies. Approximately once a month, these cryptocurrencies are distributed — ‘airdropped’ — to all Freefaucet.io users
The innovative aspect of crypto faucets lies in their business model that allows users to earn without paying: FreeFaucet’s revenue comes from subscriptions and advertisements placed on the website. Cryptocurrency companies will purchase ad space on the FreeFaucet page to attract more coin holders
“It is not just about the money, it is about community and education, enabling people to enter the crypto world. FreeFaucet.io will help unlock the value of the crypto sector,” says Clem Chambers, CEO of Online Blockchain.
FreeFaucet “reverses the economic chain: money comes back to consumers rather than them paying the middlemen involved in purchasing a product or service,” he adds.
You can access the free faucet website here https://freefaucet.io
Follow Frefaucet.io on Twitter https://twitter.com/freefaucetio
Online Blockchain is a UK-based incubator and developer of businesses in internet and information-based technologies, including developers, administrators and custodians of blockchains and cryptocurrencies. Online Blockchain explores new opportunities in the tech space, particularly cryptocurrencies and blockchain-based opportunities including incubating cryptocurrency start-ups and developing technical innovation in the blockchain space. Led by a team with over two decades of pioneering in tech, Online Blockchain focuses on innovation in cryptocurrency and decentralised ecosystems via various applications of blockchain: incubating cryptocurrency start-ups and developing technical innovation in the blockchain space.
Other faucets available:
FreeBitcoin offers a range of casino-style games that allow you to multiply the Bitcoins you earn. For instance, the basic Hi-Lo game allows users to win up to 1 mBTC every time they play. The site also runs free weekly lotteries for which users get free tickets for playing the Bitcoin games. Visit freebitcoin.io
Cointiply is one of the newest Bitcoin faucets on the block, Cointiply gives users the chance to win up to 100,000 Satoshis per hour just by playing games and completing tasks such as watching videos and visiting webpages. Users may receive loyalty bonuses for playing daily and earn additional Bitcoins for completing short surveys, installing mobile apps and the unique Cointiply Mining Game. Payouts can be made directly to a Bitcoin Wallet and Doge Wallet. Visit cointiply.com
Moon Bitcoin was founded in 2015 and is one of the most widely used faucet services. Unlike most crypto faucets, Moon Bitcoin does not restrict how many times or the amount that users can cash out. Visit moonbit.co.in
Bonus Bitcoin is a faucet paying out up to 5,000 Satoshis every 15 minutes, with a variety of ways to boost earnings via its Bonus schemes and frequent special promotions and competitions. The current bonus scheme pays a daily 5% bonus of the total of all faucet claims and referral commission earned over the previous 3 days — providing that users have made at least one faucet claim during the previous day. Visit bonusbitcoin.co