Welcome to this short introductory guide to cryptocurrency faucets. If you are new to cryptocurrency, check out this guide here to get yourself familiar.
Introduction
Cryptocurrency faucets reward users with Bitcoin or other cryptocurrencies such as Dogecoin, Litecoin, or Ethereum for completing simple tasks or simply filling in your coin wallet information and completing a CAPTCHA at a predetermined time interval. Captcha's are used to protect faucet owners from abuse by bots.
Faucets usually reward claimers through micropayment websites such as Coinpot or Faucethub and claimers are generally paid in "Satoshi", which are the smallest divisible units of bitcoin. Payment, however, is not just limited to Bitcoins. Faucets can be setup to pay and distribute any cryptocurrency to the faucet users, bitcoin is just the preferred and most stable method.
What Are The Purpose Of Cryptocurrency Faucets?
In general, cryptocurrency faucets will come in the form of a website or app and serve 3 purposes for both webmasters and faucet claimers.
♦ To create a familiarity with new coins
♦ To generate website traffic
♦ To make money
Simple Strategy
All of the "Moon" Faucets along with Bonus Bitcoin are operated by the same entity and pay out directly to a designed Coinpot microwallet. Coinpot allows for free conversion and withdraw which means you can claim from each separate coin and then convert them to one single cryptocurrency for withdraw.
Where To Spend Micro-earnings?
Many cryptocurrency exchanges will hurt smaller faucet claimers with large bitcoin/altcoin order and deposit minimums. The best exchange currently to buy/sell your faucet earnings is KuCoin Exchange as they offer extremely low minimum deposit and trade orders.
Article: A Short Guide To Getting Started With Cryptocurrency Faucets