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
Open/Close
The price at which a cryptocurrency opens at a time period, for example at the start of the day; the price at which a cryptocurrency closes at a time period, for example at the end of the day.
Buy/Sell Tax
On-chain buy or sell tax rate where a percentage of the tokens bought/sold will be transferred to a set address.
Whale
Someone who holds an enormous amount of cryptocurrency and has the ability to wave the market
Explain Like I'm Five (ELI5)
To explain in such simple terms that even a five-year-old would be able to understand it.
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