Overlooked, Underrated and often forgotten: Crypto Faucets

One of the most overlooked and underrated ways to accumulate free cryptocurrencies have to be the numerous crypto faucets out there. There is no shortage of them, yet you hardly hear of any serious player on the crypto scene using them. They are considered to not be worth it because they gain you real minimal amounts of crypto tokens more often less then a dollar cent per turn. This is a misconception I intend to set straight in this article, where I am going to explain the proper use of faucets to get your crypto fortune started.

Crypto faucets are the easiest way to get into crypto when all you have is time to dedicate to it. You can get a small amount of cryptocurrency by completing a “Captcha”. This will get you a few Satoshi’s(parts of a Bitcoin similar to cents in dollar) or its respective counterpart for the token the faucet is about. Usually this process can be repeated several times a day, depending on which faucet you use. If this would be the only thing you do the “naysayers,” who look down on faucets would be correct. You could do it for years and you still would only have a few bucks to show for it. But that is not how you use Faucets. Read on to find out to use them properly and understand why they are an important factor on the road to financial freedom.

Faucets are a stepping stone

Crypto faucets are not an end but the very beginning for starting  to accumulate cryptocurrency and we can use it to amass the first tokens we can use in our other efforts where the real money is made, like staking the coins we accumulated and get high “interest” percentages. We will be going into staking in detail in another article, for the purposes of this one, it suffices to state that staking will get you interest on the coins you hold which is where your real profits will come from.

The law of large numbers

The first thing you will have to consider when you start using faucets is that using one is not enough. On Buzzbookmarks.com we use more then 30 faucets and we use them each and every day! This makes us around $10 daily using all features on those websites because most of them offer alternative ways to gain more crypto like filling out surveys or other tasks which usually gives us significantly more crypto then just using the faucet itself which is mere icing on the cake,

To illustrate:

On a typical day we visit about 10 to 15 faucets and use them hourly while in the mean time we fill out some surveys, or install apps from offerwalls on them, etc.. At the end of the day we gained approximately $10 in crypto we can use. Once we transferred the crypto to our own wallet(Read here why that is important) We can start staking the coins by either swap them for the cryptocurrency we want to stake or swap them into a stabile coin which we can also stake but for percentages up to 10% per year. While the percentage of interest on stabile coins is a bit lower then on regular tokens the added value is that this is as close as we can get to guaranteeing the value of the crypto, making sure that $10 bucks we made will still be worth $10 tomorrow when we might want to use it.

In short: Swapping your crypto for Stabile coins is the safe route to go.

However, fortune favours the bold, so we are pursuing a slightly more adventurous route and stake our gained crypto into tokens that give percentages of 15% and higher(we average on 20%) in interest and of which we think will go up in value over time. The risk we take as compared to staking Stabile coins is that we could be wrong and the value of the tokens could go down instead of up. The gained interest counteracts that risk somewhat, but this is crypto after all and it’s volatile nature brings risk with it. It could decrease more then we gained in interest.

The gains we make from the interest we do swap into stabile coins so we will have the following setup:

1. Using the faucets on Buzzbookmarks.com we generate the initial crypto to use for staking
2. We stake the coins to earn interest
3. We swap the interest to Stabile coins and earn interest on that as well

As you can see; by using faucets we now have two passive income streams going on. One that stands to make significant gains and those gains we can use to set up the second passive income stream which is the safe one and end goal: Accumulating stabile coins that hold their value.

It does not take a rocket scientist to see that by doing this daily you get to build up a significant amount of crypto that will grow rapidly and if you continue to do this for a few months you will see considerable results from the gained interest in the assets you are staking. Now do it for a year and I think you see where I am going with this.