Who does not like free coins and tokens? I guess all of us do. Although there is no such thing as a free lunch, you get some ads on your screen, as you probably already guessed.
So how does CoinFaucet work?
- You sign-up for an account and login
- You select your desired coin
- Fill in the captcha text
- and spin the wheel
So now a bit more details to it: CoinFaucet offers a huge list of coins you can play for. As per their web page it is currently 851(!) currencies (screenshot above). They offer the most popular ones like Bitcoin, Ethereum or Tether, but also less known ones like Pundi X. Have a look under “List Coin” to find you favorite.
Pick your desired coin and click “Play” or “Bet”. We look at the “Play” option today and safe “Bet” for a later point in time.
Once you are on the screen “Get your free AVAX” – I have chosen Avalanche for this example – you see the winning numbers on the left hand side on the page and also how much AVAX you get: Spin a 10000 and you get more then 80 AVAX at the time of writing. Quite a good deal for just clicking a few buttons. Although even is says “This game is probably fair”, it is quite unlikely to get that. But hey, the effort is pretty small, so I guess you have to accept that you need to press quite a few times to that. So enter the “captcha” and click “Roll” and see how lucky you are…..
I got the minimum account in the screenshot below as you see. So I will give it another try in an hour.
There is a “I don’t want to wait” link there too, but this function is currently disabled it seems. I will update this review, if things should change in the close future.
Of course you can also withdraw the coins you earned. There is a minimum of 50USD to be withdrawn – to save on transactions costs I guess – so you need either quite a few spins or at least a lucky spin.
CoinFaucet also offers a referral program where you can earn 50% of what your referrals make. You will find your link at the top where it says “Referral”.
How does CoinFaucet make money themselves? Well, as mentioned in the introduction they advertise on all their pages and earn their money via these ads and pass on these earnings to their visitors by paying out all of these tokens.
I will continue to play around with it. Although I am remain skeptical due to the high threshold of withdrawals: Getting ever to the 50 bucks sound almost like it either takes ages or you need an army of followers. Also not sure how active the team behind the faucet really is anymore… Any one knows more here?
I think there are better portals with better reputation out there like Cointiply, which I am testing at the moment. Review to follow of course.