Today I'm going to talk about a slightly different topic than what my articles usually cover. Instead of looking at another game or discussing it's economy I want to talk about crypto faucets and why you - at least in my opinion - should stay away from them as far as you can. You can find a lot of articles that promote different kinds of faucets for different kinds of cryptocurrencies. While there's nothing wrong with doing so I want to offer some insight into what you can expect from most faucets out there and explain why you'll basically waste your precious time if you register with any of them. To get things started I'll first take a look at what faucets are and then get into more details on what they actually have to offer.
So what are faucets?
There are closer and broader definitions to what a faucet actually is. Since most of what I'm going to say is true for both definitions we'll go with the broader one. According to this any service that pays out tiny amounts of cryptocurrency without any meaningful input from the user on a regular basis is considered a faucet. In other words, anything that awards you abysmally small amounts of crypto for visiting their site or playing their "game" is to be considered a faucet. Some of the most well known faucets are the moon-series of faucets that look like that:
You basically just enter your account, click claim now and are awarded with some satoshis. 5 minutes later you can come back and repeat the whole process. Other faucets have differing timers and payouts but the base concept is always the same. Also note that it's been 1987 hours since my last claim and I'd thus be awarded 63 satoshi. If you claim on a regular basis you won't earn more than 5 satoshi every 5 minutes. Anybody new to the blockchain world will sooner or later stumble across a faucet and most will probably at least try it out, some sticking with it for a pretty long time. So why shouldn't you use faucets? They are free money after all, aren't they? Well, let's have a closer look at my top reasons not to use them:
They are simply not worth it
Let's just do the math:
Say you claim 5 satoshi from a faucet. There are 100,000,000 satoshi in a bitcoin, so earning 5 satoshi means you are making 0.00000005 BTC every time you use the faucet. To make it easier to follow lets just pretend that 1 BTC equals 10,000$.
Every time you claim from the faucet you are earning 10,000$ * 0.00000005 = 0.0005$ which is basically nothing. But this was only a single claim, so it has to add up over time, right? Let's see:
If you keep claiming every time you can you get to claim 12 times per hour.
12 * 0.0005$ = 0.006$
In other words, you now made almost a penny in an whole hour. Even if you kept claiming 8 hours a day, you'd still earn basically nothing:
8 * 0.006$ = 0.048$
An argument that's often raised, especially with a series of faucets like the moon ones from above, is that you can use several faucets at the same time and that it will all sum up in the end. So lets make one more calculation:
Say you'd find enough faucets to be claiming non stop, each at a payout of 5 satoshi per claim. Say you need 30 seconds to do a claim and you keep claiming for 8 hours.
This would mean you could do 120 claims per hour or 960 claims in an 8 hour work day.
960 * 5 satoshi = 4,800 satoshi
Now that has to be something, right?
4,800 * 0.001$ = 4.8$
So in this hypothetical scenario where you did nothing but claiming faucets 8 hours straight without doing anything else you still only earned 4.8$. But now you are hungry. And you had to drink something while you were doing all those claims. And you have to sleep somewhere and pay for the energy your computer used while doing those claims. As a matter of fact, whenever you are claiming faucets you are actually losing money in the process. To be very clear here: You won't even get close to the numbers from the last example so your actual earning will be even way worse! This alone should be enough to stop using faucets all together, but in case you aren't convinced yet, there are more reasons to do so:
They are wasting your time
Now for our example above we acted like you'd just waltz in and out of these faucets and quickly claim your free cryptocurrency. This is not the case at all though. Faucets usually do everything they can in order to waste your time. They obscurify where you have to click, they make you go through several pages before you get your reward and they'll make you solve stuff like that:
Basically, the idea is to keep you on their site for as long as possible. This way they can show more ads to you and if they get extra lucky you'll accidentally even click one. In reality faucets are not about giving you free cryptocurrency but about wasting your time in order to make money with it. That's the reason why you'd never reach the rate of claiming I used in my example above even if you tried. To make things worse this is going to be annoying to you pretty soon. Captchas tend to be very unclear and vague. Look at the above example. Is this even a motorcycle? What about the squares that are touched by the tire? Do they count? So more often than not you'll have to solve more than one captcha, wasting even more of your time. This directly connects to our next topic:
They are not fun
When you start using faucets you think they are fun. You are rewarded with a little something all the time, you have small numbers going up and you feel like you are really progressing. Even if you don't realize that you are not really earning anything at all you'll still get annoyed pretty quickly and it's going to be more of a chore than anything else. This is especially true for faucets with gamification elements. There a dozens of websites and mostly apps out there that reward you with tiny amounts of cryptocurrency for playing one of their "games". Those apps seem to have quite an audience and a lot of people use them, arguing that they are earning while they play. In reality though there are way better games out there that would be actually fun to play. The question you have to ask yourself when looking at those "games" is "would I still play this game if I wasn't rewarded for doing so?" The honest answer will almost be "no I wouldn't!". So consequently you should ask yourself whether it's really worth it to waste time playing an inferior game simply because you can earn 2 cents a day doing so.
There's another angle to this though. You might ask yourself why those apps pay you money when you play their games. The reason behind this is simple. This allows them to show you their ads. Most of those so called games work like that: You play a round for a minute or two. You are than rewarded with a tiny amount for cryptocurrency. But if you want to, you can watch a video ad in order to double your earning or get the chance to do another roll or what ever. So basically the whole game is just about getting you to watch their ads because that's how they are earning their money. Once again they are wasting your time in order to make money off of it.
There are so many better options out there
Now that we've discussed in length why you shouldn't be using faucets I feel like I should at least point you towards some better options out there. To make something absolutely clear first: There is no free money. Nobody out there is waiting to hand you your free cryptocurrency without expecting something from you in exchange. Whenever something sounds too good to be true, it's probably a scam. So what are the best ways to earn cryptocurrency if you don't use faucets any more? To be honest: Go to work and invest some of your earnings into cryptocurrency. This might sound harsh but it's reality. You'll earn a lot more money simply going to work than you will with any options you'll find on the internet. With that one out of the way here are some ideas what to do that pay way better than using faucets and at the same time are a lot more enjoyable:
You could start writing your own articles and publish them on sites like publish0x and Hive. Don't expect to become rich doing so, but with some practice and a little passion you can make several dollars in varying cryptocurrencies with each article you publish. My first article published on publish0x got me close to 8$ - that's more than you'll ever earn with any given faucet, even if you used it for month. As an added bonus you get to train your English writing skills, something that can only help you in life.
You could do surveys on sites like idle-empire. Again you won't be making tons of money answering surveys but you can expect to make around 1.5$ - 2$ per hour if you are a quick reader and are a little lucky with the surveys you are given. Payouts can be made in several cryptocurrencies directly to coinbase and starting as low as 0,1$. To be honest though doing surveys is getting old fast and it's nothing I'd advise doing for a prolonged time. If you do have the time, have nothing better to do and want to earn some more crypto you could give it a shot.
You could play blockchain games that are free to play and offer any form of play 2 earn. This is pretty tricky because you might end up playing a game again that you don't enjoy simply for the rewards. Like I said above, always question yourself whether you really enjoy the game or if it's becoming a chore. If it does, stop playing it and sell everything you can. Possible games to look at are for example Gods Unchained or Rising Star. Basically any game that needs no initial investment and allows you to trade your ingame earnings to other gamers will do. Always do your research before picking up a game though and just to stress it again: Don't play because you can earn crypto, play because you enjoy playing. Earning some crypto can only be a bonus.
I hope I was able to give some explanation why I am so adamantly opposed to faucets in general. When I first started my journey into the blockchain world I fell for them myself. It's just so cool when you see all these numbers magically go up without investing anything but your time. But really, that's the bottom line of this whole article: You should value your time enough to not waste it on pennies. Use that time to do things you actually enjoy. This very well might be collecting cryptocurrency. If that's the case, then more power to you - but do it in a meaningful way, using offers that actually value the time you invest.
As always, thank you all for reading and let me know what you think of faucets in the comments. Do you still use them? Have you been using them before? See you all next time.