Explained | What is a crypto faucet and what are its advantages?

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As the crypto industry has grown larger over the past few years, there are now multiple ways that you can get your hands on these new digital assets. You can buy them, trade them and even stake them. However, all of these methods would require you to expend considerable amounts of time, effort and, most importantly, money.However, what if we told you that you could get small amounts of crypto for free? It sounds too good to be true, but it is actually possible through certain websites and apps known as crypto faucets.

Tag along as we quickly tell you what crypto faucets are and how you can use them to get small amounts of Bitcoin, Ether and other cryptos for free!What are crypto faucets?If you feel like trading or staking is too big of a task or risk, you can easily use a crypto faucet to earn small amounts of cryptocurrency. Crypto faucets are websites or mobile applications where you have to perform simple tasks or play some mundane games to earn crypto. You can do this from the comfort of your home and whenever you like.The tasks are minuscule jobs like watching ads or videos, playing games, or solving quizzes.

Also, these are not substantial rewards -- you won’t be able to buy houses with them. But slowly and steadily, you can gather a healthy amount of crypto coins through these small rewards. Think of them as drops of water from a leaky faucet collecting in a bucket.

Accumulate these drops, and you’ll have a modest reservoir of coins over time. Also, this is how these websites and apps get the ‘faucet’ tag.Also read: What is a crypto pre-sale, and how to enter it?History of crypto faucetsCrypto faucets have been around since 2010. They were created right after the Bitcoin network went public in 2009.