Crypto faucet is an app or website that distributes small amounts of crypto assets as a reward for completing easy tasks. They are given the name “Faucet” because the rewards are small, like tiny drops of water dripping from a leaking faucet.
However, in the case of crypto faucets, a small amount of free or earned crypto assets is sent to the user’s wallet. To earn free crypto, users have to complete simple tasks such as viewing ads, watching product videos, completing quizzes, clicking links or completing captchas.
Crypto faucets are certainly not a get-rich-quick scheme. The simpler the task, the lower the reward. Most websites offer a minimum payout threshold, so the rewards earned for completing tasks are deposited to the site’s online wallet. A user can withdraw this reward only after reaching the set minimum threshold. With the best crypto faucets, this may only take a day, but often, it can take more than a week.
Although crypto assets have been buzzing in recent years, most people are not yet fully mainstream and crypto assets are new to many people around the world. The idea behind Crypto Faucet is to give free crypto assets to people so that they will take the time to learn about digital assets and look forward to investing in them.
How faucets work in digital assets
The operation of crypto faucets is mainly based on completing simple tasks as well as participating in existing activities. Faucet websites can fix rewards and can set time locks for users to claim their rewards.
Usually, users need to register on the faucet by entering their details along with the wallet address. After completing tasks on the website, the earned rewards go to micro wallets, wallets similar to traditional wallets, but wallets capable of accumulating small amounts of crypto assets. For most faucets, a micro wallet is created automatically upon registration.
As soon as this micro wallet is filled, the reward is automatically sent to the user’s main wallet.