Crypto faucets are being largely used by those who are not willing to put their money on acquiring cryptocurrencies, before gaining an experience of what and how it is to own and use digital assets.
In the gambling industry, the role of the crypto faucet has been a conducive one, bringing innovative, ground-breaking new digital currencies closer to potential users. But let’s see what’s the real catch with crypto faucets and how they have proven valuable in crypto gambling, especially for beginners.
The first steps of cryptos
Ever since the first cryptocurrency was launched to the market back in 2009, the world of cryptos has seen explosive growth. Even those who were really skeptical at the beginning, when they were initially presented with a digital asset that could take the role of a fiat currency for daily transactions, have come to recognize the dynamics of cryptos and their potential for creating a whole new crypto ecosystem that can fundamentally change everything we know about financial functions.
And while all the intended uses of cryptos have not yet been materialized – just think that when Bitcoin was launched it was intended to become a medium of transactions for nearly everything, from buying groceries to making investments – their growth in some industries is indeed impressive.
In the gaming industry, the impact of cryptos is phenomenal. We are witnessing an incredibly fast rate of crypto gambling site development, which verifies that there is a strong demand for betting with cryptocurrencies. In fact, it is now just as easy to find crypto bookmakers and crypto gambling sites in the USA or other parts of the world, as it is to find the more traditional online sportsbooks.
The more buzz about cryptocurrencies, the more people want to explore and experience them and finally get an idea of what is that everybody is talking about.
But cryptos and the whole blockchain technology, the digital assets’ ecosystem, and the encrypted transactions are fairly close to younger generations, which are apparently more literate when it comes to technology. For these younger people, it is much easier to handle and use cryptos, basically because they have a better understanding, familiarization, and knowledge of them.
For the older generations or simply for those who want to get acquainted with Bitcoin or any other crypto for that matter, but who are also reluctant or hesitant to make any investment in acquiring cryptocurrencies, there is one very effective and efficient solution. The thing is that many people want to experiment with Bitcoin, Ethereum, or Litecoin but don’t want to invest their money to purchase cryptos.
And the truth is that for those people, getting familiar with anything new and innovative is really important before they adopt it and use it. So, it is essential that they get to know it, without having to risk money resources.
Crypto faucets pouring cryptos to users
Crypto faucets actually exist to do this exact thing. Bring cryptos out of the shadow and make them accessible to everyone, with no financial investment, only time commitment. Crypto faucets are websites or applications that release and distribute small amounts of cryptocurrencies to users, just like water faucets drip small drops of water.
They were initially developed to help Bitcoin gain popularity faster and get to the hands of people more easily. Crypto faucets function like ‘reward’ distributing systems, where the users need only to perform certain tasks and then receive a small amount of cryptos.
The tasks involved are generally easy ones and they are designed in such a way to trigger the interest of users on the one hand, but also fulfill their purpose at the same time. Such tasks can be anything from watching particular videos to participating in surveys and from subscribing to platforms to playing games. Upon completion of these tasks, the users get cryptos transferred to their wallets.
What’s the catch?
So, what’s the real catch with crypto faucets? Simply enough, the real catch is that they facilitate the process of crypto familiarization. Since there are still too many potential crypto users, who are not willing to buy cryptos, having them earn cryptos is the best way to ‘get them in touch’! Presumably, the more people become acquainted with cryptos, the more the usage of cryptos will emerge.
Meanwhile, having cryptos ‘leaked’ to the crypto ecosystem, distributed in small -yet not negligible – amounts, makes them more widespread and popular than they already are. And making them available means that they are more likely to be diffused back into the system and used by the crypto owners.
From a gambling perspective, crypto faucets do this exact same thing. On the one hand, crypto casinos and crypto gambling sites offer gaming and betting with cryptocurrencies, and on the other hand crypto faucets pour cryptos to the potential users. Sometimes the crypto faucet casinos pour these cryptos to their users, stimulating further gambling and more betting. So, they pour cryptos to enhance gambling with cryptos.
The crypto faucet websites and applications themselves also get to leverage gainings. They become popular, have far greater site traffic (or app download rate) and they eventually get to generate revenues from advertising and marketing.
For the users, the real catch of crypto faucets is that they are introduced to something for free when others are paying to acquire it. Familiarization, accessibility, and ease of acquisition are the main things that make crypto faucets so popular among those who want to test and experiment with cryptocurrencies but without purchasing them.
For gamblers, being able to use the earned cryptos in online crypto casinos or crypto gambling sites is indeed very useful. Especially for those who either don’t want to invest their money in getting cryptos or for those who are kind of hesitant and reserve their enthusiasm only after they have experimented with cryptos, crypto faucets are a real-deal opportunity.
And even if the amount of cryptos earned through crypto faucets can’t be enough to get them going with any crypto investments or transactions they want to make, it’s enough to get them started with crypto casinos or crypto gambling sites, which at the moment constitute one of the most popular uses of digital assets.