100 Dollar bills spread out

Are Crypto faucets worth the effort?


From my own experience of Faucets, no, they are not worth the time and energy (even if you're hitting multiple faucets per day). Most of them pay out about $0.001 per hit, often once per hour. Even the so-called "high-earning" ones pay out about $0.01 per hit.

The thing is that it's a matter of economics and how much my time is worth. I need to make $12 to $16 a day in order to pay my bills and for my living expenses. (That works out at about $1.50 to $2 an hour.) If I spend the majority of my time on crypto faucets, I make maybe $0.10 to $0.30 a day. Certainly, the few pennies add up, but they don't add up to enough (at least not fast enough).

"I think this is the normal response for westerners/Americans. In certain areas of the world the few pennies per day could add up. If the crypto is held and prices go up, then those pennies could (possibly) become dollars or more. If it's just for fun/spare time then fauceting is an easy way for beginners to get started with crypto. And the pennies can add up quickly, some users reported up to $300/year. Which, yes for someone with a job or valuable talent, is definitely not worth the time. However, someone disabled, bored, and locked into poverty by state-run assistance programs could try to find a way out, probably won't but we never know what the market will be in 5-10 years."
-- FreeCryptoGuy on Noise.cash

$300/year = $25/month = ~$0.83/day. It's not worth the time and effort.

I don't make money from faucets; I lose it. Mining Raptoreum (RTM) and Ravencoin (RVN) is more profitable for me (except that I lose money too if I do that). Also, the co-called "high-paying ones" pay out in fiat, not crypto (until such time as you claim), so if prices go up while you're claiming mere cents, you lose too. (I had this problem while collecting enough to withdraw BNB. Every day, I'd earn about $0.10 USD, but the price of BNB went up by more than that during the course of the day.) That's why I wrote that faucets aren't worth the time and effort.

As much as working for fiat is horrible and futile, it seems that the only viable/sustainable way to gain crypto is to buy it with fiat for which one has worked.

"However, someone disabled, bored, and locked into poverty by state-run assistance programs could try to find a way out, probably won't but we never know ..."

As someone who has a disability that makes it difficult for me to work (chronic depression and PTSD; actually doing my job causes me anxiety attacks) and gets no governmental support since chronic mental health issues aren't taken seriously at all (or at least not enough to provide assistance in any meaningful way), I can assure you that crypto isn't a way out (not for me, anyway) unless one had thousands of dollars to invest in it five to ten years ago. (I didn't. I have even less now, thanks to losing the secret phrase to my wallet.) What I need to do now is to find a job and soon. I've been looking for the last year or so and just not getting any responses/feedback that aren't/isn't rejections. It's not for lack of trying; I apply to about ten job postings a day, depending on the day. (I know I need to increase my rate, but it's time-consuming and demotivating. I'm also trying to do freelance work at a much reduced cost/fee, because I can't find the clients who're willing to pay what my work is worth and I need to bring in something each month, even if it's a pittance, all while living in poverty.)


Post thumbnail image: Photo by John Guccione from/on Pexels

How do you rate this article?

1


Great White Snark
Great White Snark

I'm currently seeking fixed employment as a S/W & Web developer (C# & ASP .NET MVC, PHP 8+, Python 3), hoping to stash the farmed fiat and go full Crypto, quit the 07:30-18:00 grind. Unsigned music producer; snarky; white; balding; smashes Patriarchy.


Cryptographic Anarchy: (Mis)Adventures in Crypto
Cryptographic Anarchy: (Mis)Adventures in Crypto

The content of this blog is exclusively to do with online privacy/security, cryptography and cryptocurrency: Understanding it, investing in it, mining it (in groups/crowds), developing/programming it, the social problems it aims to solve and the various ways to make more of it (or not, as various losses and failures happen). Let's get away from banksters, Capitalists and fiat, to an unbanked anarcho-syndicalist commune. || Banner image: Blogger's own.

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.