Crypto faucets have been around for more than a decade and don't seem to be slowing down any time soon. A crypto faucet rewards you with a particular crypto token for completing a captcha. For example, a BTC faucet will reward you with satoshi for completing a captcha.
Although a faucet claim seems less generous today, you can still earn decent with consistency and patience. Choosing the right crypto faucet platform can also make matters easier. If you'd like to know more about the faucet claim, keep reading as we elaborate on some of the things you need to know before registering on a crypto faucet platform.
Things you need to know about the crypto faucet platform
One thing you should know about the faucet claim is that, in most cases, you get rewarded automatically. After completing the captcha, you don't have to do anything else before you get the reward. The platform will reward you if you satisfy the faucet claim condition. But there is more to the faucet claim than meets the eye. Below are a few things you need to know about faucet claims so you have the right expectation.
Amount of payment
The first thing you need to be aware of is the payment you get for completing a captcha. If registered to a BTC faucet, you get paid in satoshi. Different faucet claims platforms pay different amounts. But in most cases, the amount you get can range between 50 and 500 satoshis.
Compared to what it was like before, faucets paid out 1 BTC or even more for completing a captcha. As such, today, you would have to complete more captchas for bigger pay. Also, you can increase your earnings by playing games or taking advantage of the referral program.
Another thing you should know about faucet claim platforms is that they are often a timer. You need to note two timers when you find a crypto faucet that interests you. The first timer tells you how long you must wait before getting rewarded. Typically, the timer can range between 5 and 60 minutes.
The second timer tells you how long you must wait before you get the following captcha. This timer is to put a little regulation so people wouldn’t abuse faucet claims. If you want to get the most out of a faucet, choose one with short-timers.
It would help if you also took note of the withdrawal method of a crypto faucet before you commit to it. Crypto faucets require extensive time, so it can be very frustrating to find out you can't withdraw your rewards after spending several hours to claim them. The withdrawal method of most crypto faucets is similar.
For example, if you are registered on a BTC faucet, your rewards get sent to your account wallet after completing a captcha. The reward will stay in the account wallet until you satisfy any outstanding condition if there is any. Thereafter, you can then forward your reward from there to a bitcoin wallet of your choice. Remember that you must have completely registered your account on the faucet platform before you can withdraw rewards to your wallet. As such, you must have completed verification.
Most faucets come with a withdrawal limit. However, some faucets do not have a withdrawal limit. So, you have access to withdraw any amount of crypto token you claim.
In other words, if you have not made a certain amount, you cannot transfer your winning to your bitcoin wallet. Knowing a crypto faucet's withdrawal limit before you commit is essential. Knowing the withdrawal limit will help you know how long it will take you to cash out your reward. Ensure you register on a faucet with a low minimum withdrawal limit to get the most out of it.
It helps you read reviews about crypto faucets before registering. Reading reviews about specific faucets is the best way to learn more about faucets from people who have tried them. When reading reviews, check how the platform performs regarding security, withdrawal, customer support, captcha, etc.
If you keep getting negative comments about that specific faucet, you should stay away. There are several fraudulent faucets, so you should be cautious when choosing one.
Crypto faucets are an excellent way to get into cryptocurrencies. While BTC faucets are the most common, there are several other faucets. Trying out other faucets could earn money, mainly when you earn relatively new crypto tokens.