The concept of crypto faucets is straightforward; you earn digital, decentralized currency for using a site or service without needing to part with your own cash in return.
There are a surprising number of crypto faucets out there, and if you don’t have a well optimized strategy for leveraging them, you’re unlikely to see meaningful returns.
Let’s talk more about crypto faucets and the strategies that you can implement to make them useful, rather than a time sink that doesn’t make practical sense to pursue.
The Principles of Crypto Faucets
If you’re totally new to crypto faucets, we need to explain the basics. The currency you earn through them is supplied either for passive participation, or active involvement.
For example, you might be asked to watch an advertisement, which means you can simply sit there while the spot plays out. Alternatively, you could have to play a game to get your crypto reward.
Obviously, the operators behind these services need to make money themselves, and they achieve this through the ad revenues they generate. So as with many aspects of the web, it’s advertising dollars that keep everything ticking over.
The facets that make a good faucet
To build a solid crypto faucet strategy, you have to understand what separates the top contenders from the bottom feeders in this varied marketplace. These include:
Withdrawal Limits
The crypto you earn doesn’t trickle into your personal wallet, but instead accumulates on the provider’s site itself. There is typically a protracted period between withdrawals, and this can vary wildly. You will typically have to hit a particular earnings cap to be eligible to extract your crypto.
This means that a faucet with a lower minimum earning amount to reach is better than one which has a sky-high watermark. Of course, if you’re happy to wait, or even treat it as a kind of savings account that keeps your tokens untouchable and thus out of temptation’s reach, this could be less of a concern.
Withdrawal Methods
Another consideration is the supported method of withdrawal. It’s better to have the option to send coins directly to a wallet you control, but there are services out there which insist on users signing up to a third party wallet provider.
Do your research and check what terms and conditions a faucet puts in place before you commit any of your time to it.
Incentives
There are lots of ways for crypto faucets to incentivize more sign-ups, including giving you a referral code that friends can use so you both earn rewards for participating simultaneously.
The bigger and better the incentives, the more reason you have to get involved. A faucet which fails to make waves with its bonuses, or doesn’t reward loyalty, will be less desirable.
Types of Crypto Faucets to Consider
Arguably the most appealing services are those that combine faucet facilities with other features and functionalities.
Trustdice is a good example, as it’s a crypto casino which has traditional table games and slots as well as an attractive faucet component. Among the pros and cons of Trustdice is the ability to mix things up with a few hands of poker or a few spins of the reels, rather than only having to stick to the faucet.
Furthermore, if you use a crypto casino site, the tokens you earn from the faucet can be used to place wagers on the games. This might not be for everyone, but it holds up as an option for gambling fans who don’t want to risk what they’ve earned elsewhere.
Other sites are more focused on things like survey completion, and function in much the same mode as survey sites that pay out in fiat currency rather than crypto. There are also sites which have you complete CAPTCHA puzzles, which actually help contribute to boosting web security, so there’s value there that goes beyond personal gain.
Building your own Crypto Faucet Strategy
There are two key components to help you put together a crypto faucet strategy that works for you. First, there’s the objective benefits of the site or service you choose to use. This will include an assessment of all the advantageous facets we discussed earlier.
Second, there’s the extent to which you engage with the faucet on an emotional level. For example, there’s no point getting into a site that rewards you with crypto for filling out surveys if you simply can’t stand doing this. On the other hand, if you’re happy to watch ads or play games and get crypto in return, then this is a green light showing you should create an account.
For the entirely passive faucets, you don’t even need to be directly engaged at any point, and people do keep these running in a separate browser window while they get on with other things. Sites can put systems in place to prevent this, but there are always routes around them. The downside is that the rewards tend to be small to account for this likelihood.
Getting Started
Now that you understand what makes crypto faucets tick, it’s a good idea to test the waters by creating an account on a reputable site and seeing how you feel about the experience it offers.
So long as the terms and conditions are not too restrictive, you could be earning small amounts of crypto in no time, and as this accumulates, you’ll be working towards a modest but not meaningless payout.
There’s no reason to use just one crypto faucet, of course, and if you’ve got a decent amount of spare time then you could run several accounts simultaneously.
FINAL THOUGHTS
The era of being able to get rich from crypto faucets is well and truly over, but for anyone who wants a bit of extra income which doesn’t involve working your fingers to the bone, they represent an intriguing prospect.
Obviously you’ll need to be up to speed with how things like crypto wallets and exchanges work to get into this thoroughly, but it’s easy to wrangle all of this today, so it shouldn’t be a barrier to entry.
