News & Updates Keep up to date with the site
It's here at last, Monero [XMR]!
It's finally here, ladies and gents. Monero is now available on FaucetHub for both FOs and users! There's a few things to say about it before you dive in which are quite important.
Monero is a different type of coin to traditional coins, therefore some things work a bit differently. The first thing is that Monero offers complete blockchain privacy for transactions and addresses. This is completely different compared to Bitcoin's open blockchain design.
About making deposits
After you generate your deposit address you will be given 2 ways to deposit. The first way is a traditional address, however this address is a new format called a sub-address (starts with 8). These addresses were launched in an update last year, however many places and exchanges still don't accept sub-addresses. The official Monero GUI wallet will of course accept them.
The other way to deposit is a more traditional method of address + payment ID. The payment ID is important. If it's not included in the transaction then the deposit will not arrive in your account! Most exchanges and web wallets allow for you to provide a payment ID.
About making a withdraw
When you make a withdraw or link your XMR address, we currently only support the traditional XMR address and sub address. This means that you cannot make withdraws to Monero Integrated Addresses or places which require a Payment ID. For this reason we suggest using either a web wallet or the official Monero GUI wallet to receive your withdraws. If you send a withdraw to a place which requires a Payment ID you will lose the coins, so please make sure.
About the withdraw fee...
So, this is the bad bit which you won't enjoy hearing. Due to Monero's design the transactions are very large. This results in a higher fee per transactions than other coins. In order for us to maintain and sustain a Monero service we are forced to have high fees on Monero withdraws for both users and FOs. Because Monero offers complete privacy we hope that you understand that "you get what you pay for" when using it. It was simply not designed for any form of micro transaction. Despite this the addition of Monero on a micro-transaction platform will hopefully open it up to a new userbase.
XMR is considered in beta and may have some issues which are unforeseen due to the different design. Please open a ticket if you run into any issues.
Please do not spam referral links. You will be banned.