You will no doubt have heard the stories of cryptocurrencies users who could gain a lot of features due to the cutting-edge technology that cryptos possess. It seems that many are investing, trading, and started to find some other way to earn cryptos. If you are one among the persons who are in search of any alternative to traditional fiat currency dealings, then it is time to consider crypto transactions. They offer a much faster transaction and that is completely anonymous. You can now gain a few cryptos for free from certain platforms by completing certain assigned tasks or even gain from their promotional activities. Did you find it interesting, then read out the article completely to know more!
Let’s take a look into crypto faucets & crypto airdrops and their differences.
If you are a regular user of cryptos, then you could have come across the word crypto faucet and its usage. But, if you are new to this word, do not worry as it is easy to understand.
You can simply mean crypto faucet as a cryptocurrency award system, it can be considered as a website or an app that distributes rewards in terms of cryptocurrencies. The history of crypto faucets dates back to 2010 with the bitcoin faucet being the first one to be discovered by Gavin Andresen. This main idea was to spread the word about bitcoin to many common people as it was new to society at that time. The idea slowly started to enter into altcoins too. So, altcoins like Litecoin, Ethereum, and others started to develop their crypto faucets. The rewards in terms of cryptos are distributed for completing certain tasks like captcha completion, viewing certain advertisements, etc.
Crypto airdrops are most commonly used by startups as a form of marketing & promotional solutions and to build a quick community. Thus they are implemented to add new followers for a large disbursement of their cryptocurrencies. The news about the crypto airdrops posted is shared across many social media platforms thereby advertising it to the crypto enthusiast. The one who does not hold any cryptos sees the crypto airdrops as a form of free money and in some cases, they offer an immense profit to the holders at zero capital payment.
What is the difference between Crypto Faucet and Crypto Airdrops?
We can explain crypto faucets as a website or simply an application that offers cryptos when you visit. The process may be tiring at times as the task assigned could require a huge time to spend on it. The task will be like completing a captcha, solving the given puzzle, watching product videos, and much more. The name faucet has been kept since the rewards are quite small in quantity as dripping of water from faucets.
But the crypto airdrops are nothing but a one-time reward to the users to assist the start-up companies as a means of promotion and community building. Mostly, they are distributed to the people by the start-up companies themselves.
What are the Features of Crypto Faucet & Airdrop?
Features of crypto faucet:
- Since these faucets are based on cryptos there is no central authority to control your funds.
- You can access it at any time in an uncomplicated manner.
- They help to spread the usage of the number of crypto coins, by this we are adapting ourselves towards the cutting-edge technologies.
- You can earn money by creating a new crypto faucet.
Features of crypto airdrops:
- Through airdrop introduction, you can now receive a few currencies from a new project or a new team.
- Creating awareness to the common public about their project by just offering a few coins.
Even though you are quite convinced by their attractive advantages, you must consider their shortcomings too. Since cryptocurrencies are irreversible, hackers looking to steal cryptocurrencies have turned to them. Faucets aim to get users to visit them by giving free cryptos as a reward. They mostly rely on advertisements for revenue. Additionally, some ad networks pay in terms of cryptos. They end up in huge traffic but they result in poor profit margin. When we speak about crypto airdrops some are safe, but some are scams. Do your best research before entering as providing your personal information is not advisable.
Lisa holds a degree in Mass Communications. Lisa has provided her services independently and through the online platform and likes to write on ETF related news articles. Her educational background has given her a broad base from which to approach many topics. Apart from writing you can see Lisa keeping herself busy with gardening.