Faucet
By CoinGecko | Updated on Apr 09, 2020
A faucet usually represents a site or app where a user can navigate to for small rewards repeated over time. Certain sites that monetize faucets involve requiring users to watch advertisements, or complete certain actions before earning their rewards.Faucets are commonly used during the early days of Bitcoin where users are able to request for Bitcoin for free, or in many different altcoins as a marketing move to get users interested in the coin.
Related Terms
Wallet Address
The address in which cryptocurrency can be stored, sent to and receive.
Token
Blockchain based unit of value issued by an organization, which grants token holders a right to participate in a network.
Sim Swapping
It is a tactic where hacker overtake the mobile phone to exploit the two-factor authentication and two-step verification.
Pump and Dump Scheme
A market manipulation method to drive up the price of an asset before profiting by driving it back down.
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