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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.

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Related Terms

Market capitalization (market cap)
In Crypto, market cap is measured by multiplication of the circulating supply of tokens or currency and its current price
Whale
Someone who holds an enormous amount of cryptocurrency and has the ability to wave the market
SHA-256
Abbreviation of "Secure Hashing Algoritm - 256", SHA-256 is part of the SHA2 that allows one-way hashing of any data into a 64 character string.
REKT
A shorthand slang for “wrecked”, typically describes bad trades that results in losses.
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