What's up everyone! Welcome to this week's edition of "From Faucet to McLaren"! Before we get started here, I would just like to remind anyone who has not done so yet, check out my first post for this series, to understand what I'm doing, why I'm doing it and to also read my disclaimer for this series. You can check it out here.
https://steemit.com/free/@lincs/from-faucet-to-mclaren-making-it-in-crypto-with-minimum-fiat-investment
Also, check out my "An Introduction to Me" post, to learn a little bit about me and give it an upvote :)
https://steemit.com/bitcoin/@lincs/an-introduction-to-myself
What is a Faucet? Or better yet. What is a Bitcoin Faucet? Well. By definition given by google
Bitcoin faucets are a reward system, in the form of a website or app, that dispenses rewards in the form of a satoshi, which is a hundredth of a millionth BTC, for visitors to claim in exchange for completing a captcha or task as described by the website.
There are actually Faucets for all sorts of Crypto Currencies! Faucets for Ethereum, Litecoin, Dogecoin, Dash, Blackcoin, Primecoin ect. Some pay slightly more than others. Some pay off every 5 minutes... Some pay off every 15 minutes. Some every hour. And some that are ready to go again instantly after you collect, with no waiting between collections.
As stated in the definition given by google, a faucet claim is a very small amount of Bitcoin, or whatever type of Faucet you're tapping. Usually on the websites where you collect, you will have to navigate your way though all of the Adds, complete the Captcha phrase or puzzle, and you are then given a reward for doing so.
But before we start collecting our free Crypto Currencies, we're going to want to create a wallet, for where our Crypto's will be stored.
So we will have a centralized point to feed all of our Crypto. Just like a Banking Checking Account. Our wallet will be where we store the bulk of our Cryptos that we want to keep put away. This is one of the many benefits of Crypto Currency using the Blockchain for operation. Your wallet is 100x more secure than even your Bank Account!!!!
Your bank account at RBC, Scotia, Bank of America, HSBC, wherever can pose many threats to your fiat currency.
-Your bank charges you a monthly fee (Usually unless you maintain a balance of about $1,500 in the account at all times.
-The Bank can FREEZE your account and take your Money!
-The Government can FREEZE your account and take your Money!
-Your Bank can go out of business!
-NSF Charges from payments not going through. (Have you ever had exactly enough in your account to pay a bill and when it comes out, the ammount was more than what you expected and you get dinged with $48 from your bank and another $45 from the place trying to take out the money?)
-Your Bank can get Robbed!
If you want to learn more about Wallets, check around here on Steemit, and I'm sure you will find lots of material!
So now we have an understanding about what Crypto Currency is, we know what a Faucet is by definition and we know what a Wallet to store our Crypto is. There are MANY types and brands of Wallets. There's Web browser wallets, Cold Storage, Paper Wallet, Desktop wallets ect.
Before we continue on, doing ANYTHING, making any wallets or signing up to any websites... For this journey I am going to recommend creating a brand new e-mail address to associate all of your crypto endeavors with. Please Keep it different from your normal e-mail address, and please use a unique password that you have Never used before.
A good idea for creating passwords if you already have a crypto wallet, is to generate a Public Key, write it down, then generate a new key for that currency, then delete the one you just wrote down. For every website that we register to, we are going to want to use a different password for EVERY SITE. Don't keep any passwords the same as your e-mail password!
So lets create our Wallet! -- Please visit the link for my post that provides you a Web based Wallet. It comes Pre-Stocked already with some Crypto for you, AND comes standard with an accrual of 5% interest erry day :) https://steemit.com/bitcoin/@lincs/here-s-a-wallet-with-free-crypto-to-help-get-you-started
Now, since I am a little bit skeptical about this wallet, and it has a fairly high minimum withdraw limit (And just because I'm not the biggest fan of web browser based wallets) we are going to get ourselves an Exodus Desktop Wallet as well. There is no Deposit option for the website I provided that comes with those free coins. You quite literally open the account and let it sit. Log in once a week to keep the account active.
Please visit this link and download this as your primary wallet. It has a very simple interface and makes sending/receiving crypto easy enough so that ANYONE can do it! https://www.exodus.io/
The value of Bitcoin and all the Alt coins (Alternate Coins) fluctuate in price by the minute. Your Exodus wallet will keep track of the value (In Fiat Currency) of all the coins in your portfolio. This wallet is not able to hold ALL of the Crypto currencies out there. Only a few select coins. You can play around with Exodus to find out which currencies are available. But. It does hold the "Big 3" as they're called in the Crypto community. Bitcoin, Ethereum and Litecoin.
So now, we have an understanding about Crypto Currency. We know what a Faucet is. We now have 2 Crypto Currency wallets. 1 Browser based and 1 Desktop Wallet. For this week, we are going to let our Browser based Wallet, which came pre loaded with Crypto, sit until our next edition of the article. Then we will check in and see how our Interest has done for us!
So, lets start taking advantage of these Faucets!
At this point, we are going to have to create an account on 2 separate websites. And remember as I said before. Lets use our Crypto only e-mail address and use a different password for these two sites, that you have NEVER used for anything before. We are using this "Crypto Only" e-mail address, because we don't want to get a whole bunch of unwanted spam mail in our normal e-mail addresses. Also, if some how for some reason that e-mail does get hacked (Which is very unlikely if you use a strong original password and you never share it with ANYONE) But say it does get hacked. Because when you signed up for that new e-mail, you probably linked a secondary account (Your main e-mail) to it. This way you may retrieve your stolen e-mail and secure it once again. But, we are taking steps to ensure nothing ever gets compromised! Keep your Virus Protection up to date, and make sure you are utilizing a firewall.
There are more steps for security that you can take if you really feel you need to. You can find out all about internet security using Steemit and Google.
Above is a snapshot of the first website you want to register to.
Register to the website using this link and get access to an abundance of well paying faucets!
http://faucethub.io/r/31969806
Don't Play Games!
Many faucets and faucet lists have games, like Dice or Hi Lo, where you can wager your Crypto in a chance to double or triple it instantly..... DON'T DO IT!!!!!!!!!! YOU WILL LOSE!!!! You'll find that it takes a long time to start accumulating Crypto using faucets. And you can blow it all it a matter of seconds. Just like a casino. Both designed to take your money!
Take a look around FaucetHub and get familiar with it but don't try to collect from any faucets yet. You have to link your wallet to FaucetHub, so you can receive your payouts! This is SIMPLE to do!
-First, you will remember that we have 2 wallets. Exodus and our Browser Based.-
You will need to go to your "User Dashboard" under your "User" tab, as shown above.
Now, as shown above, go to your "Wallet Addresses"
The address you add for each coin, go to your Exodus wallet and go to the correct currency and select it. and click on the "Receive" button. Each of the currencies in your wallet all have different Receiving addresses, so Make Sure* you use the correct address for each coin!
The Code that shows up here, is your address for that currency. Also known as your *Public Key.
You can share THIS key, with anyone and anybody you like. With this key, people can only SEND you Crypto. They can not make any withdraws. To do that, they need your *Private Key. Which is a 35 character long jumble of Numbers and Letters that are both Upper and Lower case. So like I said before. Your currency is safe. The only way someone can take it is if they get a hold of your private key. Which because of its uniqueness and length, and the extra precautions we are taking. Your wallet is more than safe :)
Now for the second website. It's another browser based "Micro Wallet" We are not going to ever be depositing any Currency into this wallet. But, we need to have it so we can have access to, my Favorite Faucets :D Register at https://www.coinpot.co
So let's re-cap. We have our Knowledge on Crypto Currency. You can never know enough about the Crypto world, so learning never stops!. We now have 3 wallets. 1 Browser Based, with some Crypto in it growing at 5% a day. Our MAIN wallet, Exodus. And a micro wallet at Coinpot.co so we can collect from some faucets. We also have an account on FaucetHub that is linked with our addresses in our Exodus wallet. You're going to notice that Exodus wallet does not have all of the same kind of Crypto that is offered by FaucetHub. That is totally fine! We are only going to collect the coins we do have.
If you feel comfortable enough, or you already have another wallet, you can go ahead and find a wallet that does offer all of the listed coins on FaucetHub or ones that are just not in the Exodus wallet. Go ahead and add those addresses. It's never a bad thing to do some research on some wallets that people are using, to find one that best suits your needs. There are PLENTY of wallets out there. I just find Exodus to be the nicest one so far and the easiest to work with.
So now you are set up to go crazy on those Faucets. I find, that the best way to collect is, using FaucetHub, find a site, that offers a list of sites to go to, for fast claiming. Like Below.
You open up like 2 or 3 of these lists in a couple tabs in your browser, and hit every Faucet. You will start to notice how long it takes to go through the lists. And after going through a couple times, you should be able to pick out the better paying faucets of the list. You do the same thing with all your open lists then you could quite literally just shit there for hours, collecting non stop. We don't really want to do that though. You will find it's very easy for time to start flying by. Lets not forget about our loved ones, our friends and families. And even our Pets!
Well, this has turned out to be a little more information than I had initially planned, so I am going to have to continue this in a Part 2. Which I'll do tomorrow, because I put a lot of work into this and it's been a few hours.
As I said before, I'm going to be posting a new edition to this series once a week. Probably be every Friday. Will be no later than Sunday. I'll post updates on my accounts, new earning methods, any tips or tricks I find, big news... Anything that might help us go from Faucet, to McLaren.
Any and all discussion is encouraged. Share strategies, proven methods, great offers, best faucets, ANYTHING!