FaucetPay Review: A Good Way To Earn Crypto? (2024 Deep Dive)

Earning cryptocurrency online can be a decent way to make some extra cash on the side, and one such platform that allows you to do that is called FaucetPay. But not only can you earn cryptocurrency, it also functions as a wallet where you can store your coins. Before you decide to sign up, you might be wondering – is FaucetPay really legit or just a scam designed to waste your time?

In this review, I will delve into the legitimacy of FaucetPay, examining its features and earning methods. I will provide a complete assessment of the platform’s reliability and potential for earning real rewards, so that when we are done, you’ll have a comprehensive picture of whether FaucetPay is a trustworthy platform worth your time and effort in the ever-evolving world of cryptocurrency. Let’s dive in!

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What exactly is FaucetPay?​

How can you start earning on FaucetPay?​

To start earning on FaucetPay, you will first need to sign up for an account. You will be required to provide your email address and choose a nickname, as registering through social media accounts is currently not possible. Once you have completed the sign-up process, you can then log in to the website and start earning on FaucetPay.

How do you earn on FaucetPay?​

When it comes to FaucetPay’s earning methods, the platform is essentially a “Get-Paid-To” website, offering numerous opportunities to earn crypto. As mentioned earlier, the website also serves as a cryptocurrency wallet. However, I personally recommend storing your crypto in external wallets to prevent potential losses in case something happens to FaucetPay, such as an unexpected shutdown where you could potentially lose your crypto.

Paid-To-Click (PTC)

One option for earning crypto on FaucetPay is through its so-called Pay-To-Click (PTC) feature. The premise is simple: you click on a specific link and, in return, receive a small amount of cryptocurrency as a reward. However, it’s important to always be careful and never click on any links that require you to spend or invest money, as these are pretty much always scams in my opinion. This method will not earn you much, but it can be a viable way to earn a small amount of currency in a pinch.

Complete offers

Another way to earn money on the platform is by completing various offers. This is a common feature found on many GPT platforms and they are essentially small tasks that require you to do things like playing games or testing various applications.

Offers are provided by “Offerwall” partners, which are third-party service providers responsible for offering these tasks. In general, you will be able to see in advance how much each offer pays and what kind of activities you must complete in order to be paid. Make sure to always read through all the rules beforehand to ensure that you are properly compensated for your efforts.

Some potential Offerwall partners include AdGate, Wannaads, TimeWall, and it’s possible that more will be added over time. Additionally, you will be paid in something called “USDP,” where 100 USDP is equal to 1 USDT ($1).

Answering surveys

Surveys on FaucetPay are another avenue for potentially earning money. However, before accessing the surveys, a requirement must be met: making a certain number of faucet payments per month, which is at least 7 payments. Now, you may be wondering how to fulfill this condition and obtain the necessary faucet payments.

To begin, you need to register on websites or apps that offer rewards in the form of Satoshi, the smallest unit of Bitcoin. In simpler terms, you need to explore other GPT sites and apps that provide Satoshis as payment through a faucet.

Once you’ve identified a suitable faucet, you’ll need to link it to your FaucetPay account. This connection enables you to participate in survey tasks offered by using those external sites and apps. But, this is highly unconventional, as you’ll need to use multiple platforms in order to just simply have the ability to answer surveys. 

So, complying with this requirement is essential to unlock the surveys. In my opinion, this is hugely inconvenient, as other platforms simply let you answer surveys right away, and depending on how much effort you are willing to invest, this just may not worth the time required. 

Staking

FaucetPay also offers something called staking, which is a process in which individuals hold and lock their cryptocurrency funds in a designated wallet to support the operations of a blockchain network. By staking your funds, you contribute to the network’s security and validate transactions. In return for your contribution, your are rewarded with additional cryptocurrency tokens. Bascially, staking provides an opportunity to earn passive income while actively participating in the blockchain ecosystem.

But, before engaging in staking, it is crucial to understand the associated risks. When you decide to stake your funds, they will be locked for a specific duration known as the Lock Period. During this period, your funds will be inaccessible, although Pooled Staking does offer an emergency unstake option. Utilizing this option incurs a penalty fee of 10% on your staked amount and forfeits any staking rewards earned. 

It is vital to consider liquidity and volatility risks as well. While your tokens are locked, their market price may experience significant fluctuations in real time. as for example, the introduction of new tokens can heavily influence prices due to market volatility. There is also a certain fee that comes with staked rewards, which is deducted upon the completion of a staking round.

So, while Staking does provide a certain way to earn passive income, it does come with obvious risks, meaning that it’s important to be careful if you do decide to utilize this feature. 

Multiply Bitcoin

Within FaucetPay, there exists a section known as “Multiply BTC.” This particular feature offers the possibility of multiplying your earnings, although it does come with inherent risks. It presents various games, including Dice, Roulette, Limbo, Crashes, and Plinko, where you can wager your earnings. 

All of these games are designed to be straightforward and easy to understand, however, if luck is not on your side, you will lose your bet. Therefore, this is essentially a game of chance, an option not really suitable for everyone, and is primarily recommended for those who enjoy gambling.

Invite friends

And finally, FaucetPay features a referral program that allows you to earn an extra bonus by inviting your friends to join the platform. The website offers commissions on various activities. For example, you will receive 15% of each Offerwall task that your referral completes and 50% of each click that your friends make. All in all, it’s not a bad referral program, in my opinion. However, do keep in mind that your referrals will have to be active users on the platform in order for you to benefit from it.

How much money can you earn?​

When it comes to the earning potential of FaucetPay, I must say that it’s not the best. Although the website offers multiple earning opportunities, as I mentioned earlier, you need to spend some time unlocking all of the features. Also, I’ve noticed that the rates offered on FaucetPay aren’t the greatest.

So, for the most part, the earning potential of this platform largely depends on your level of activity and the amount of effort you’re willing to put into it. In my opinion, there are better GPT websites out there that compensate you more for your efforts.

How do you cash out?​

FaucetPay is a platform that exclusively focuses on cryptocurrencies, so this means that there are simply no cash rewards available. To withdraw your funds, you will need to own a corresponding cryptocurrency wallet. 

Upon earning rewards, FaucetPay automatically converts them to Bitcoin, serving as the base currency. However, you have the option to convert your Bitcoin to various other cryptocurrencies through their trading platform, which is quite nice. 

When cashing out, there might be a withdrawal fee. The specific fee depends on the cryptocurrency being withdrawn and the chosen withdrawal method, so you will have to check that beforehand. Normal withdrawals incur lower fees, while priority withdrawals come at a higher cost.

And regarding the withdrawal process, two options are available. You can opt for a normal withdrawal, typically taking around 4 hours to process, or a priority withdrawal, which is usually processed in 10 minutes or less. To initiate a withdrawal, simply provide your crypto wallet address. Once done, FaucetPay will proceed with processing your request.

Frequently Asked Questions (FAQ)​

Can you use FaucetPay on mobile devices?

FaucetPay does not have a separate application available on mobile devices, but the website itself does seem to be optimized for mobile use. So, you should be able to use the platform on the go without any issues. However, for the best experience, I would recommend using FaucetPay on a desktop device.

Is FaucetPay available globally?

Yes, FaucetPay appears to be available globally, which means that anyone should be able to join the platform, regardless of their location in the world.

Is FaucetPay safe to use?

Yes, FaucetPay is entirely safe to use, and the platform does indeed reward you with crypto for completing various tasks.

How do you contact support?

You can contact FaucetPay support by clicking on the “Help” button in the top right bar of the website and selecting the “Help Desk (FAQ)” option. From there, you’ll be able to browse through their FAQ page and also reach out to them separately for assistance.

Final Thoughts

So, is FaucetPay legit or a scam?

FaucetPay is a legitimate crypto GPT website that allows you to store and earn crypto by participating in various activities. The website supports many currencies, and there’s an okay variety of earning opportunities. However, in my opinion, it does not offer a good earning potential. It’s a viable option to use as a wallet and to earn a little bit of crypto in a pinch, but overall there are simply better-paying “Get-Paid-To” websites out there.

Many thanks for reading my FaucetPay review! Should you have any additional questions or concerns please do not hesitate to leave a comment down below.