Faucet refers to a reward system in the form of a website or an application that provides rewards in exchange for completing a specific task.
Some faucet tasks may require a client to register an email address or perform a simple task such as filling out a CAPTCHA.
Most faucet rewards are not fixed. The rewards value depends on the number of claims made by the clients on a particular cryptocurrency website or an exchange.
Faucets originated as a means to increase awareness and interest in cryptocurrencies. This technique was first used on some altcoin’s launch in the cryptocurrency market to attract more investors.