Cryptocurrency faucets have been around ever since the beginning of cryptocurrency, with early ones giving out upwards of 5 BTC (yes, you read that right, someone must have gotten very lucky indeed). Nowadays, faucets give small amount of crypto to users in exchange for performing tasks such as browsing websites, watching ads, answering surveys and much more. Often you can earn anywhere from a few dollars to maybe even $20-30 in one month, sure it might not seem like much, but if you are just starting off in the space, it is a great way to dip your toes in. You can get hands on experience with transferring, storing, trading and more without having to buy any cryptocurrency yourself. They can also be a not too bad small bit of income for a student or someone who needs money urgently. But, how much effort and time do you really have to put in to see an actual payoff?
The time factor
Of course, getting those few bucks is probably not worth it if you need to spend more than 5-10 minutes a day on the faucet website. Usually I recommend finding a reasonable target of how much you want to make (say $20 per month) and see how much free time you are willing to spend on faucets, and then search through the various faucets online to find one that will allow you to reach as close as possible to your goal while taking the amount of time you have free. Popular faucets include Coinpot, Cointiply, Allcoins and many more (I might do a comparison in the future).
The location factor
It is no secret that the highest paying items in faucets are almost always surveys. Unfortunately, depending on your location you might have more or less luck with them. In countries like the US, Canada and the UK, you might be able to find an abundance of well-paying surveys. However, in some other places you might find out that the surveys sometimes might not pay well (or at all), or there are no surveys all together and you are out of luck. This is something to keep in mind when selecting the faucet you will use. If you won’t be able to access surveys easily, it might be a good idea to select a faucet that relies on other features more.
Additional features
Some faucets don’t just stop at providing ads and surveys, they might also have other ways to earn crypto such as games, reward systems, chat rains and much more. These are often great as an extra way to generate some income (while also having fun). As such, one might be willing to spend more time on these activities if they are enjoying them, or in some cases can earn even more than they might otherwise get from claims and viewing ads.
Overall, while faucets are not going to magically make you rich anytime soon (unfortunate I know), they can be a nice way to collect some bucks while enjoying your time. They’re especially useful if you need a bit of cash or live somewhere where these few dollars really can make a difference for you. They are also great for people new to cryptocurrencies to get a small amount of crypto to test out and play with as an actual real-world test. If one or more of these apply to you, maybe you should give faucets a spin.
Be sure to follow me on Twitter.
