Are Crypto Faucets A Scam? One Month Review

Well, that truly depends on your definition of a scam. In order to answer this question fully and from experience, I used 6 different crypto faucets for one month and will break down the numbers below. In addition, I will provide tips and suggestions for those of you who are interested in using crypto faucets. The links to all of the faucets I used are at the bottom of this post, including my suggested micro-wallet and trading platform.

During the month I claimed from 6 different faucets roughly 8-10 times a day, averaging about 2 minutes to claim all 6. It's worth noting that these claims were done on my smartphone allowing me to claim from anywhere. This means that on average I spent 16-20 minutes a day collecting percentages of crypto on my phone. In order to build up one coin quicker, I chose to convert all other coins to Litecoin every few days. Over the span of one month, I was able to collect and withdraw 0.03901333 Litecoin to Binance. At the time of writing this review, the price of one Litecoin is trading at $127.47. This means that my total claims for the month came out to $6.15. The time spent claiming coins over the entire month comes out to roughly 558 minutes or 9.3 hours. To put this into perspective, this means I made 0.6613 cents per hour I spend claiming coins.

So back to the question at hand, are crypto faucets a scam? Well, yes and no. No in the sense that I had no issues with the faucets I used and was able to cash out my claims with no problems. However, yes in the sense that you are getting relatively little cryptocurrency for your time and the faucets are making money off of your work. With that being said, faucets are still a way for individuals to begin building cryptocurrency without investing any of their own money. Really you just have to decide if you find it worth your time. I will provide some more information and suggestions below for those of you who are still interested.

From my experience, I would recommend starting both a Binance and Coinpot account if you plan to collect from faucets. Coinpot is a micro-wallet where you will be able to store your claims and Binance is a crypto trading platform where you can transfer your claim with no fee and begin trading with a larger list of coins you may be interested in. When withdrawing coins from Coinpot, it is very important that you make sure you have the minimum they specify for withdraws. If you do not have the minimum, you run the risk of losing your claims. Coinpot also recently started their own tokens which you receive whenever you claim and can be converted to any other coin they list. This helps you collect coins quicker and gives you the option to play their lottery.

Note: The faucets offer a referral program that will allow for you to gain coins whenever anyone you refer makes a claim. This does not affect the other person’s amount, so I recommend referring others who are interested. I have listed all of my own referral links below, please use them if you found this information helpful and want to give faucets a try.

Also, please comment and let me know if you have any questions or want to share your own experience with faucets. Before I jumped into this endeavor, I read many posts that said faucets were just a scam but did not give any reason why. So I hope this breakdown of my 1 month experience is useful to those of you who have had a similar experience researching crypto faucets.

Links:
Coinpot
Coinpot.co
Binance
https://www.binance.com/?ref=28005829
Moon Litecoin
http://moonliteco.in/?ref=aa8f87d42b69
Moon bitcoin
http://moonbit.co.in/?ref=65b88468d406
Moon Dogecoin
http://moondoge.co.in/?ref=82ea75eb33e2
Moon Dash
http://moondash.co.in/?ref=AC7CD5084FAF
Moon BTC Cash
http://moonbitcoin.cash/?ref=1B5BDA37E8EC
Bonus Bitcoin
http://bonusbitcoin.co/?ref=B4A1F022E5FB