Getting Your Feet Wet with Cryptocurrency Faucets
Faucets are a great way to get your feet wet in the cryptocurrency waters by allowing you to earn small units of cryptocurrency otherwise known as ‘satoshi‘. A satoshi is 0.00000001 or one hundred millionth of a Bitcoin. The number of satoshi you can earn from a faucet depends on what cryptocurrency the faucet offers. As an example, if the faucet offers BTC (Bitcoin) then you may get 25 to 100 (0.00000025 to 0.00000100) satoshi per visit. If the faucet offers DOGE (Dogecoin) you may be able to get 100,000,000+ satoshi per visit. In general, the higher the value of the cryptocurrency the less satoshi a faucet will pay out in that currency.
So what is a FAUCET? Simply put, a faucet is a webpage or website with advertising banners all over it with the added incentive of earning satoshi for your visit. How do you earn satoshi? I’m glad you asked.
Earning satoshi is as simple as clicking on links or buttons and completing Captcha. Once you reach the final destination you are rewarded with some satoshi. The path to the destination can be frustrating at times with popup windows, multiple Captcha’s and buttons that don’t appear until you’ve been on the site for a set amount of time. On most faucets there is a cool down period where you have to wait before you can use the faucet again. This cool down can be anywhere from 0 to 60 minutes and on rare occasions longer. Again, if you find a worthy faucet you can check in periodically throughout the day and make a relatively quick collection of satoshi.
While cryptocurrency faucets in general have a poor work to reward ratio you may find a few faucets that are worth the minute or two of work it takes. Worthy faucets may have a high amount of satoshi per visit, games to earn more satoshi, offers or surveys that reward in satoshi, bonus satoshi for your loyalty and referral opportunities. Be aware that faucets get taken down, go down for maintenance and/or run out of rewards fairly frequently so keep your eye open for others.
Most faucets offer a referral program that gives you free satoshi when others use the faucet. You just take the link and share it via whatever medium you wish: email, social media, web site article, etc. Just be aware that some sites and forums frown upon sharing referral links.
Can I run a faucet? You certainly can. As a faucet owner you have to set up a page, signs up with an advertising system and set up a wallet from which the satoshi rewards are drawn. The real work comes when you have to bring in the traffic. Setting up and running a faucet is beyond the scope of this article. Look for one in the future. Faucet owners make money by the number of page views they create for their advertisers.
Examples of Good Faucets
- Moon Litecoin (uses the Coin Pot Wallet)
- Litecoin Faucet.com (uses a Faucet Hub Account)
- Take Your Bits (uses a Faucet Hub Account)
Great! You know a thing or two about cryptocurrency faucets. But, where do I store my satoshi? See the next section on Wallets