In the early days of its appearance, crypto faucets created a strong attraction when giving rewards up to 5 BTC. Until now, the reward value of faucets has decreased a lot, but this is still a potential money-making channel for people with low capital. So what is a crypto Faucet and how does it work? How to make money with Faucet? The following article will answer your questions.
What is crypto faucet?
Faucet crypto is a small reward for users in the form of coins/tokens after completing one or more basic tasks on the specified product. Through the metaphor of a drop of water leaking from a faucet, faucet gives users some basic resources to participate in the product or network experience early, thereby reaping certain results.
But this is not how users can get rich in the market, faucet programs or features always only offer very small and limited rewards. The simpler the task, the less the reward will be.
How does crypto-faucet work?
“There is no such thing as a free meal” – Faucet crypto too, to receive the reward we need to do the task.
Basically, all users have to do is connect a wallet and complete basic tasks such as watching videos, entering captcha codes, jigsaw puzzles, referring friends… This feature can adjust the amount of bonus received and lock time before receiving.
Get APT testnet token just by connecting wallet and confirming captcha
The most common is the user providing basic information about the social network accounts along with connecting the wallet. After completing the required task, some sites will authenticate the user one last time before paying the reward.
However, some websites or applications will require users to reach a certain threshold in the mini wallet used to hold the faucet token to be allowed to receive rewards to the main wallet.
How to earn 0 dong capital thanks to faucet crypto
Faucet is now commonly used in devnet and testnet experiences on new ecosystems. Recently, the community’s interest in Sui and Aptos has led to the fact that wallet products when launched on these two networks will integrate the faucet feature to attract users.
Thereby, creating a premise for users to experience the product and support them to receive rewards with 0 dong capital.
Step 1: Prepare the wallet
A cryptocurrency wallet is the first thing users need to have before entering the journey to make money from zero. You need to clearly define the network you will experience in order to choose the right wallet product.
For blockchains that interact with the Ethereum virtual machine (EVM blockchain) like MetaMask or Aptos, users often use Martian or Pontem Wallet.
In particular, you can use the Coin98 Super App wallet. This is a wallet that supports storing tokens on many popular blockchains such as Ethereum, BNB Chain, Solana… or even hot blockchains like Sui and Aptos. At the same time, the Faucet feature on Coin98 Super App is built-in, allowing users to receive free tokens without visiting other faucet websites.
Faucet Sui devnet token on Coin98 Super App wallet
Step 2: Access the faucet web to do the task (if any) and claim the token
For wallets that have built-in Faucet features, users just need to press the Faucet button to be paid directly or be redirected to the required faucet website. Here are some famous crypto faucet websites on the networks:
- Ethereum: Fire Faucet, Dutchy CORP
- BNB Chain: Tesnet.Binance
- Solana: Solfaucet
- Sui: Faucet-devnet channel on Discord of the Sui project.
- Aptos: AptosLabs
To minimize risk, only access reputable faucet sites or have been recognized by the network owner.
Need to choose Faucet channels with high reputation.
Step 3: Use coin faucet to join testnet, devnet… earn money
After owning the coin faucet, users only need to search for products that are holding testnet or devnet programs to participate and report back to the project side to wait for the reward. The most important thing is that you need to know how to find a good project to do testnet, to avoid scams or hacks that lead to loss of money.
Besides, the difficulty of participating in testnet and devnet will also depend on the tasks and rewards of each project. You can refer to the articles below to have a better picture of each step: from finding good projects on blockchains, crypto faucets to doing testnet, devnet tasks:
- How to do devnet on Sui blockchain
- How to do testnet on Aptos blockchain
Faucet will be the key that opens the door you want to discover.
Impact of Faucet crypto on NFT price when doing testnet
If you’ve been into the testnets and devnets of networks lately, you must know the NFT testnet is being hunted with great FOMO.
During the first half of September, when a faucet on the Aptos network only received 0.01 APT testnet tokens, the NFT value did not reach hundreds of APTs. But after changing the value of each faucet to 1 APT, the NFT value has changed to tens of thousands of APT.
It is worth mentioning that the number of faucets is limited in a day, leaving the old person without the opportunity to access the NFT testnet. This goes against the purpose of product experience for users.
Risks & notes when using Faucet crypto
You need to be very careful with using crypto faucets on unofficial websites because scams through this feature are very common.
- Some websites have a Faucet feature that will spread malware to the computer, causing damage to the user’s machine and property on the e-wallet.
- With the task of asking to invite friends, we need to carefully check the link, the reliability of the website to minimize the damage to our property and reputation.
- In addition, linking social network accounts also creates a huge risk if the user does not pay attention and allows too much access to that account for an unreputable faucet site. This situation is not common, but we should still take precautions.
- Faucet crypto is an activity to receive rewards through doing tasks, so it is necessary to verify the credibility of the faucet site before performing any operation.
- Not all faucet crypto sites give the desired results. Some faucet sites will only make you feel like a waste of time because the rewards are not proportionate.
- Be careful with quests that ask to invite friends to minimize the chance of malware spreading.
Advantages and Disadvantages of Faucet Crypto
Faucet Crypto is a popular way for individuals to earn cryptocurrency without having to invest any capital. While this can be an appealing prospect for those looking to get into the world of cryptocurrency, there are both advantages and disadvantages to using Faucet Crypto.
- Earn Crypto Without Capital: One of the most significant advantages of using Faucet Crypto is that you can earn cryptocurrency without any capital investment. This is a great option for people who want to start earning cryptocurrency but don’t have the financial means to do so. Faucet Crypto offers a variety of different earning options, including completing tasks, surveys, and offers, participating in games and contests, and referring friends.
- Various Earning Options: Faucet Crypto offers a variety of earning options to its users. This means that you can choose the earning option that works best for you. Whether you prefer completing tasks, surveys, or offers, or participating in games and contests, Faucet Crypto has something for everyone.
- User-Friendly Interface: Faucet Crypto has a user-friendly interface that makes it easy for individuals to use. This means that you don’t need to be a tech-savvy person to use Faucet Crypto. The platform is designed in a way that makes it easy to navigate and understand.
- Limited Earning Potential: While Faucet Crypto is a great way to earn cryptocurrency without capital investment, the earning potential is limited. This means that you can’t expect to make a significant amount of money through Faucet Crypto. The amount you can earn depends on the earning options you choose and the amount of time you invest in them.
- Time-Consuming: Another disadvantage of using Faucet Crypto is that it can be time-consuming. If you want to earn a significant amount of cryptocurrency, you’ll need to invest a significant amount of time in the platform. This can be a drawback for people who have limited free time.
- Scams and Frauds: Like any other online platform, there is a risk of scams and frauds on Faucet Crypto. Users need to be careful when using the platform and ensure that they’re not falling for any scams or frauds. This is especially true when it comes to providing personal information or completing tasks.
Overall, Faucet Crypto is a great way to earn cryptocurrency without capital investment. However, it’s important to consider the advantages and disadvantages before using the platform. If you’re willing to invest time and effort into Faucet Crypto, it can be a great way to start earning cryptocurrency.
How to use Faucet Crypto
Now that we’ve explored what Faucet Crypto is and its advantages and disadvantages, let’s dive into how to use it. While the process can vary depending on the specific faucet you’re using, most work in a similar way. Here’s a step-by-step guide to help you get started:
- Choose a faucet: First, you’ll need to choose a faucet that supports the cryptocurrency you’re interested in. There are many different faucets out there, so do your research and read reviews to find one that’s reputable and has a good track record.
- Create an account: Once you’ve chosen a faucet, you’ll need to create an account. This typically involves providing your email address and creating a password. Some faucets may also require additional information, such as your name and country of residence.
- Solve Captchas: Most faucets require you to solve a captcha to prove that you’re a real person and not a bot. This is usually a simple task, such as clicking on a button or typing in a short phrase.
- Claim your coins: Once you’ve completed the captcha, you’ll be able to claim your coins. This usually involves clicking on a button or entering a code.
- Wait for the timer: Many faucets have a timer that you’ll need to wait for before you can claim your coins again. This can range from a few minutes to several hours, so be sure to check the faucet’s rules to find out how long you’ll need to wait.
- Repeat: Once the timer has expired, you can repeat the process and claim your coins again. Keep in mind that the payouts are usually quite small, so you’ll need to claim coins multiple times to accumulate a significant amount.
To maximize your earnings, it’s a good idea to use multiple faucets and claim coins regularly. Additionally, some faucets offer bonuses or other incentives for referring friends or completing certain tasks, so be sure to explore all the options available to you.
While using Faucet Crypto can be a great way to learn about cryptocurrencies and earn some free coins, it’s important to stay safe and be aware of potential scams and frauds. Always do your research and only use reputable faucets to avoid losing your coins or falling victim to phishing attacks.
Frequently asked questions about Crypto Faucet
Is Crypto Faucet a scam?
Crypto Faucet was born with the purpose of supporting new users in experiencing the product, if the user uses a reputable crypto faucet source, this feature is basically not a scam.
Should I make money with Faucet?
Certainly yes, because this form is so simple that the user does not have to spend any valuable assets. What you need is a reputable website and information about activities that can earn more profits, thereby getting more rewards from the small amount of tokens that the faucet returns to the wallet.
Is Crypto Faucet a form of airdrop?
Note that faucets are different from airdrops. The airdrop follows a specific schedule to reward investors who hold tokens, NFTs or have participated in the interactive activity specified by the project. This is different from the definition and purpose of faucets.
If you are new in the crypto market then you must definitely try the faucet feature. “A few drops of water” will open up a lot of opportunities through which you will be able to learn from the market and products to stay firmly on the path of long-term investment in the crypto world.
An interesting detail is that the first users to use this faucet feature each received 5 BTC. This property has become extremely valuable in the present time.