Alright first thing's first. This is a direct response to THIS post by Khazrakh. In which they state that faucets are a waste of time! And while I understand their sentiment and they do make some good points, I respectfully disagree with their conclusion. So without further ado...
Cryptocurrency faucets have been around almost as long as cryptocurrency itself. And the reason this is the case is because they actually grew out of a genuine use-case. The original intention of them was to give people small amounts of crypto so that the user can begin experimenting with how it functions. If someone is new to Bitcoin they can get their hands on some satoshis and send them around, discovering how addresses, fees, etc. all come into play during the process. And preventing them from making a major mistake when they begin using their hard-earned money. Faucets are a learning opportunity!
If you're experienced with Bitcoin, and Litecoin but don't have any experience with proof-of-stake currencies it can be very helpful to get your hands on a handful of Tron, Loopring, or Tezos and try out the concept. I use these examples because that's exactly how I've learned about all of these currencies myself. No you won't be earning a lot of money from these faucets but I would much rather experiment with free money than my own. Once MY money comes into play I want to already have a full understanding of what I'm doing!
But there are a lot of faucets out there...Surely they can't all be there to help people? Well they're not. The majority of faucets these days operate as a business. You visit their webpage, and are inundated with ads. You prove you're human via a Captcha of some kind (this helps the faucet sell ads as they can confirm that their users are real ad-views by real people). And as a reward for being essentially a "worker" you are rewarded with your sliver of cryptocurrency and sent on your merry way.
Personally I always go out of my way to find faucets of a new crypto I'm interested in learning about and it's how I usually begin experimenting with it. Personally I think these faucets have inspired many developments in crypto over the years. I honestly believe that without the initial crypto faucets we may not be seeing websites like Publish0x, or software like Brave Browser today.
So we've established that faucets have a place when it comes to learning. But what about making money? I mean this is the PassiveIncome blog, it's all about making money right?
In Khazrakh's post he brought up Moon Bitcoin (a long running and well known faucet) and broke it down math-wise on why it essentially "wasn't worth it." The thing about a conclusion like that is it's very subjective. Whether a faucet is worth it or not is all a matter of perspective! 1$ US is either a lot of money or a little depending on where you live. If you're a Venezuelan for example, the minimum monthly wage this month is roughly $5 US.
Going by Khazrakh's math he concluded it was possible to earn roughly $5 US were you to do nothing but claim the Moon-series of faucets for 8 hours at peak efficiency. By my count that is a substantial amount of money to many people in the world.
Now me? I'm not a Venezuelan. I'm a Canadian in fact. So my reasons for using faucets aren't because I believe it will earn me some life-changing amount of money. And I do really like using them to become familiar with projects but that's not why I KEEP using them. I enjoy them! I'm a very driven person and I need to feel like I'm accomplishing goals 100% of the time, even when I'm sitting at home watching Brooklyn 99 over and over again. Faucets are something I can do while I binge watch TV to make me feel like I'm still working towards my goals! Using what funds I do acquire to build more passive income opportunities. Never stop, never stopping!!
Yeah I know they take forever to add up but if I wasn't using them I'd just spend my idle time feeling anxious, so I find they help me quite a bit. My wife thinks I'm crazy but she also knows how stressed I get when I don't feel like I'm doing something. I used to spend all of my downtime playing video games. In the last year or two that has mostly faded away to me reading about crypto or trying to get more online. I'm not saying that's necessarily better, it's just different. For me, these faucets are fun!
You'll see me discussing crypto faucets on Publish0x often which means I'm 100% biased. I enjoy them and want to share them with others! I'm always looking for passive income methods and many faucets (while not really passive) are fairly absent-minded. Meaning many you don't really have to pay attention to complete them. And if you can build up referrals they can become actually passive for you!
If anyone is interested in the faucets I use on a regular basis and find pay the best with as little effort as possible. I will share a list here (with some nice referral links of course) And if you're not and come from the same court as our friend Khazrakh then that's okay too! But hopefully I've provided you with another side to the "Are faucets worth it?" coin.
Faucets I recommend and personally use daily, and most importantly have been paid from:
Cointiply (reputable and high earning with many methods to earn aside from the very quick-to-complete hourly faucet, pays in Bitcoin or Dogecoin)
Fire Faucet (Completing the faucet earns you autoclaims, where you leave your browser window open and it slowly leaks you some crypto of your choice, many options!)
Horizen Faucet (Daily faucet for earning Horizen, this one's great for learning!)
Faucet Crypto (A Faucet every 40 minutes, with other tasks available like ad-viewing. Has payouts in numerous currencies)
TheCryptoFaucet.com (Claimable once a day, but well paying. Many options for currencies and doesn't take long)
And yes, these are all referral links. I would benefit from you signing up with any one of them, if you would prefer not to use a referral then feel free to look up these faucets on your own and join that way)
If you decide to join Publish 0x, the platform where Readers can tip Authors FOR FREE, after reading my article - Consider using my referral link here.