Introduction
Apart from Bitcoin or Ethereum, there are lots of other cryptocurrencies making their way to the crypto world, and thus people want to earn profit from these active cryptocurrencies. But acquiring free cryptocurrencies is costly and free crypto mining is possible only via modern expensive mining rigs that only a few can afford. For them, faucets are the only means to earn free crypto coins. Ethereum faucets are innovative online services that pay users for visiting their websites or for performing other simple tasks; it is like a lottery game that gives out ETH tokens at regular intervals.
The first-ever crypto faucet was developed in 2010 by Gavin Andresen that issued only Bitcoins, but slowly it gained momentum, and faucet owners began issuing Ethereum and other altcoins to users on completion of some simple tasks. The cryptocurrency industry is still unexplored and thus often misinterpreted. Faucets were developed to create awareness in people regarding the positive aspects of digital currencies. It is an innovative way to make cryptocurrencies easily accessible to all without the need to buy, trade, or stake them; it is a risk-free alternative to acquire cryptocurrencies.
Is the ETH faucet real?
Yes, Eth faucets are real websites that give out real ETH tokens for free. But some websites dupe users in the name of faucets and so the users should do their homework properly when selecting faucets.
Are Ethereum faucets profitable? & How?
Faucets can only be considered as an additional way to earn some free Ether tokens without buying, trading, or staking Ethereum across various platforms. But it should not be mistaken as the sole source of income because it is impossible to get rich by earning free Ethereum at faucets; faucets payout in Gwei which is the smallest unit of Ether and to make a considerable amount of Ether, users need days to weeks to remain associated with faucet websites.
Faucet websites offer a mutually beneficial way to earn where the faucet owners earn from the traffic brought in by users to their websites and the users earn by performing simple tasks set by the faucet owners like viewing ads, sharing links, or completing captchas. Distribution of free crypto coins, however minuscule they may be, attracts stable traffic to the websites and the owners earn huge profit from this traffic out of which they transfer only a certain amount of cryptocurrency resources to the users.
Can we make money with Ethereum Faucet?
Crypto faucets allow users to get hold of a small number of cryptocurrencies, without much effort. It is a risk-free way to earn ETH for free that too without any investment which makes Ethereum faucet a desirable alternative for many. However, as stated, earnings from faucets are insignificant, but if the users are ready to spare a considerable amount of time, the earnings can grow significantly, with the rise in the value of the crypto assets. But it is always way better to look for other stable ways of acquiring cryptocurrencies.
Which is the most Profitable Ethereum Faucet?
Ethereum Faucet websites have become quite popular among newbie crypto enthusiasts who do not have enough funds to invest in cryptocurrencies but want to acquire digital coins for future use. Among the many Ethereum faucets, the following are the most profitable ones:
Ether-hot
Users are credited with 50 Gwei every 5 minutes for just visiting the website.
Bitcoin.s.ethereum
A reward of up to 1200 Gwei is paid to users for just visiting the site.
Speedup. faucet. ether
Users are rewarded in the range of 0.00000710 to 0.00002840 ETH after every 10 minutes as and when they visit the site along with 20% extra fees paid for referring to other users.
Faucetcrypto
Faucetcrypto rewards its users with 28 different cryptocurrencies including Ethereum. Users can earn 400 Gwei for visiting the site every 15 minutes.
But Are Faucets Worth Your Time?
Not really. Faucets, be it Ethereum, Bitcoin or any other cryptocurrencies are only beneficial for those who want to get acquainted with digital currencies and are ready to spend a considerable amount of time doing this. Also, low-risk investors who do not have enough funds to buy mining equipment or do not want to invest financially in cryptocurrencies do not mind investing their productive time in faucets. For those who can allocate some funds on cryptocurrency investments, there are alternative ways to acquire Ethereum, and that too in a good amount.
Conclusion
Thus, cryptocurrency faucets are innovative ways to earn a small number of cryptocurrencies for free just by performing some simple tasks on websites or mobile applications. Users who are unable to invest funds in the purchase of expensive mining equipment, or are not in a position to trade on currency exchanges, can earn free ETH from Ethereum faucets.