What are Ethereum Faucets?
Ethereum Faucets are applications or websites that give rewards to their users. These rewards are usually in the form of Bitcoins and are distributed after one completes specific tasks on the platforms.
Experts in the crypto realm compare crypto faucets to automated mechanisms that pay you after completing mindless tasks on the internet, such as clicking links, signing up on websites, watching videos, and playing games.
What is Ethereum?
Like other blockchains, Ethereum has a native cryptocurrency called Ether (ETH). ETH is digital money. If you’ve heard of Bitcoin, ETH has many of the same features. It is purely digital, and can be sent to anyone anywhere in the world instantly. The supply of ETH isn’t controlled by any government or company – it is decentralized, and it is scarce. People all over the world use ETH to make payments, as a store of value, or as collateral.
Faucets are a very popular theme within the various crypto communities around the world. They receive both a lot of praise and backlash. Some people love them, others think that they are nothing more than a scam. Well, in this guide we are going to try to not only find out which group is right, but also look for the best Ethereum faucets available.
Are Ethereum Faucets worth it?
As you can already tell, Ethereum faucets allow users to earn free ethereum in small increments, often 1000 to 10000 satoshis at a time. But if you keep doing this over a long period, it will result in decent gains when ethereum shoots up in price.
A few years ago, users could earn up to a single bitcoin in 3 to 4 days through ethereum faucets. Needless to say, that would be a massive profit today.
So yes, Ethereum faucets are worth it and can be profitable in the long run, especially if you’re just getting started with bitcoin investments.