Welcome to one of the many ways of starting your journey down the road of earning a passive income. If you are new to the subject you might not be that familiar to what a passive income is. So we will talk a little about that to start of.
One of the oldest ways of earning a passive income was to simply lend your money to someone. Then have they pay you back that money and a little extra money as a payment for the service. This extra money was one of the first ways to earn a passive income. Letting your money work for you, generating more money. So as a collect all term you can say passive income is when you let your money work for you. Earning more money.
So what are some of the ways we can earn a passive income in the crypto market. One of the more common ways is to have some crypto and then stake it. Staking is you saying "this crypto will be here for some time". And as a thank you you will earn, generally, more of the same crypto.
How do you go about getting some of that crypto then, you might ask yourself? One way is to simply buy some. But this might not be an option for every one. So another way to earn a little crypto for free is to use what is called a crypto faucet. A crypto faucet, like a faucet faucet? Yes the same one. You know the faucet that keeps dripping. No matter how hard you turn the noobs trying to make it stop. That type of faucet.
Just like a dripping faucet, a crypto faucet will give you a small amount of crypto for free. Well you usually have to complete a captcha, in order to claim it. But other than that, yes for free. And just like a dripping faucet will not get water all over you. The crypto faucet will not let you earn a huge amount of crypto.
So does this mean they are a bad idea and you should not use them? Well if you look back to their origin, the first crypto faucet was a Bitcoin faucet. Allowing the people to claim whole bitcoins. This was back when they were not worth what they are today. ^^ This was done in order to spread the use of Bitcoin. The reasoning is if you give a little to a lot of people for free. This will increase public awareness. As well as several of them will then, hopefully, start looking into what this Bitcoin thing they just got is. And what can they do with it?
So is this still true for crypto faucets today? Well I would argue yes. But they also have taken on several other purposes. One of them is that they let users claim a small amount of crypto, and this will then allow the user to make a transaction on the network. This can be very helpful if you have run out of the gas currency in your wallet.
The second extra purpose is simply it has become a business model. A way for the site to get visitors to come. Think of it as a similar thing to when a store has a sale. They take a cut in their profit for one thing. Betting that enough of the people will buy several other things. Compensating for the loss they took. Or they might just be interested in getting traffic to their site in order to earn ad revenue.
Do all of these reasons, the small amount and the trying to get you to spend money and time at a site or look at ads mean you should not use them? Well that is for you to decide. Personally I do use some of them. And if you are interested in either using them yourself. Or you just want to learn more about them. I have two sites I can recommend you try.
The first site is the site I have found that has the highest paying faucet. It is Trust Dice: https://trustdice.win/faucet/?ref=u_patch
They let you claim several different cryptos every 6 hours. Meaning you do not have to sit and claim and claim over and over.
The second is a site called Free Bitcoin: https://freebitco.in/?r=49241793
Here you can only claim bitcoin. And you can claim it once every hour. The upside here however is that there are apps that you can download. And they will claim the bitcoin here automatically. Sadly these apps only work on Android phones or Chromebooks. But you can download an Android emulator, if you do not have an Android phone or a Chromebook.
The above links are my referral links. Meaning if you use them and register. I also get a small bonus every time you use the faucet. Enabling you to earn slightly more from them. This is also something you yourself can do. Get your friends who want to learn more about crypto to sign up using your own referral links. This will enable your crypto faucet to drip a little more for you. =)
I hope you have found this article helpful and interesting. And if you have any questions feel free to leave them in the comment section.
See you on the interwebs!