Its never to late to start a portfolio in CryptoCurrency. For those who don't want to risk there hard earned fiat currency on the countless cryptocoins, there are many other options.
The option I am gonna talk about today is a service called a faucet. A faucet is a name given to a website or app which gives away free crypto coins. Most faucet sites allow a user to claim their free coins by providing a payment address and completing a Captcha puzzle. These faucet sites usually have a set amount of time before you can claim again. Almost all the faucet site have ads this is how they can supply you with cryptocoins.
Sending very small amounts of cryptocoins is generally not a good idea. The faucet owner would have to pay a transaction fee every time they sent a payment.Most faucets will hold your coins until you reach a certain threshold, or use a microtransaction service such as CoinPot to do so on their behalf. It is therefore common for users to have to make multiple visits to a faucet before they can receive a payment.
So the first thing you will need to do is get a micro-wallet. I use CoinPot it works well with most of the faucets I will explain below. There are many others but I have not tried any of them.
The next step I took was to also get another wallet that is local to my computer. I use the program Exodus. Exodus is a desktop multi-asset wallet with ShapeShift built in. ShapeShift allows you to trade any leading blockchain cryptocurrency for any other.
So my strategy is, I use CoinPot and once I reach a certain amount I will move the coins over to Exodus. In the future, after I start trading cryptocurrency I will move larger amounts of coin for savings and storge to a Hardware wallet like KeepKey. Hardware wallets are much more secure for long-term storage
So without further ado, I will list the current cryptocoins that I use a faucet for.
Steem
For those of you that are not familiar with Steem here is a link to a brief over view.
https://steemit.com/steem/@tuck-fheman/what-is-steem
Introduced on March 15, 2017 and currently has 244,007,492 coins in circulation.
1.) Steem.Global
- In order to enable the faucet functionality on STEEM.GLOBAL you must first verify you are human. Here is the link to the steemit post to verify yourself
https://steemit.com/steemglobal/@steem-global/steem-global-human-verification-post
Bitcoin
Here is a link to bitcoins official site explaining what bitcoin is and how it works.
https://www.bitcoin.com/getting-started/
Introduced on 3 January 2009 and currently has 16,628,975 coins in circulation.
All the bitcoin faucets below award bitcoin by the term "Satoshi". The Satoshi is currently the smallest unit of the bitcoin currency recorded on the blockchain. It is a one hundred millionth of a single bitcoin (0.00000001 BTC). https://en.bitcoin.it/wiki/Satoshi_(unit)
1.) freebitco.in
- This site has a 1 hour cooldown. It has 3 different ways to withdraw the bitcoins. I use the auto withdraw directly to my Exodus.
2.) moonbit.co.in
- This site is my favorite type of site. It has a 3-5 mins cooldown but the amount of bitcoin will build up higher if you miss claiming it every couple of minutes. I think the max it holds is 7-8 hours worth. This site use CoinPot to depsoit the bitcoin.
3.) bitfun.co
- This site has a 3-5 mins cooldown it also uses CoinPot to depsoit the bitcoin.
4.) bonusbitcoin.co
- This site has a 15 mins cooldown and uses CoinPot to depsoit the bitcoin.
Dogecoin
Here is the link to the official site for more info on DogeCoin.
http://dogecoin.com/
Introduced on 8 December 2013 and currently has 111,532,372,567 coins in circulation.
1.) moondoge.co.in
- This site has a 3-5 mins cooldown but the amount of DogeCoins will build up higher if you miss claiming it every couple of minutes. I think the max it holds is 7-8 hours worth. This site use CoinPot to deposit the Dogecoins.
2.) freedoge.co.in
- This site has a 1 hour cooldown. It has 3 different ways to withdraw the Dogecoins. I use the auto withdraw directly to my Exodus.
LiteCoin
Here is the link to the official site for more info on LiteCoin.
https://litecoin.org/
Introduced on 7 October 2011 and currently has 84,000,000 coins in circulation.
1.) moonliteco.in
- This site has a 3-5 mins cooldown but the amount of Litecoins will build up higher if you miss claiming it every couple of minutes. I think the max it holds is 7-8 hours worth. This site use CoinPot to deposit the Litecoins.
Conclusion
These are just the faucets I use currently. There are many more sites for each of the coins I have. There are also many faucets for other coins I don't currently have. If you have any good suggestions please leave them in the comments.
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