What is Litecoin Faucet?

When someone offers you free money with no strings attached, your first inclination should probably be to run the other way as fast as possible. Even that helpful Nigerian prince who has been flooding your inbox with promises of unimaginable wealth is only offering to give you a piece of his sizable inheritance in exchange for your bank account info and Social Security number.

However, when it comes to virtual currencies like Litecoin, that truism doesn’t necessarily hold. The communities of enthusiastic boosters that have sprung up around cryptocurrencies have devised a creative way to bolster the userbase: Give free coins to anyone who wants them...

On sites called “faucets,” new users get hooked up with their first few coins in a way that’s simple, instantaneous, and hopefully, addictive.

The dozens of faucets, which specialize in a variety of cryptocurrencies, all work along similar lines. A user enters the address of his or her virtual wallet, solves a CAPTCHA, and then receives some virtual money. In the early days of the currency, some faucets were known to give out up to 50 dogecoins at a time. But now most only hand out one or two.

Pretty much every faucet site sets a time limit on withdrawals, meaning users can only extract money from a faucet once per day or, at least, once every few hours. Unless, that is, someone uses more than one wallet address. Making new wallets is completely free, and they can be generated in the blink of an eye.