At work discussion.
A coworker of mine recently mentioned bitcoin and altcoin faucets to me. I've been looking into such websites as coinpot. But I'm sceptical. What are your thoughts on faucets? Are they a good tool for learning and getting into cryptocurrency? Are they just a scam to earn themselves coins? Or are they after our wallet info? Let me know in the comments below.
Faucets are a great way to get your feet wet. I got my first two cents from a faucet seven years ago. It is worth hundreds of dollars now! I wouldn't expect that kind of return now, but it is a way to get your feet wet. I tell my friends to check out Zebra, which uses Xapo for the wallet. I haven't been on that site in a long time, but it was pretty easy to use. You aren't going to get much, and the time investment is not worth doing for the reward. More for the opportunity to get familiar with things like setting up a wallet. Sending crypto, etc.
My thoughts exactly. Thanks for the input. I looked into zebra myself and couldn't get anywhere with it. In fact many of the xapo paying faucets I try are regularly empty. I have went through with the coinpot faucets. They do pay out to coinpot, but will take another week or so to earn enough to attempt a withdraw.
It has been ages since I messed with the faucets. I am sure that it is harder to move money given the outrageous fees these days. And the volume slowing things down. It took me hours to move some money yesterday after paying a fifteen dollar fee.
One reason I'm trying coinpot. It has transfer options between bitcoin, bitcoin cash, litecoin, dashcoin, and dogecoin. I'll will attempt a litecoin withdraw when I have enough. I've hear they have lower fees right now.