What is Coinpot?

coinpot-reviewCoinpot is a central microwallet service that allows a user with a single email address access to a modern cpanel console to manage all their different altcoin faucet payments from 1 central location. Currently, Coinpot supports Bitcoin, Bitcoin Cash, Dash, Litecoin and Doge. Not only ideal for users but also ideal for services such as faucet owners to pay to the central microwallet ie coinpot who then handles the users mass payments.

How to use Coinpot To Mine Cryptocurrency For Free

You don’t have to be wealthy to invest in crypto. You can mine Bitcoin and other cryptocurrencies through what are referred to as “Bitcoin Faucets”. To make a “claim” on one of these Bitcoin faucets all you have to do is register and follow the claim instructions. Claim instructions generally tell you to click on a captcha that proves you are human to make the claim.

Bitcoin Faucets are a great way to obtain cryptocurrency if you don’t have the funds to invest in Bitcoin, but still want to invest in this growing asset class. Who knows what Bitcoin will be worth in 7 years.

What are Bitcoin Faucets?

A “faucet” is a term used in the cryptocurrency world. It means a place where you can go to claim a small amount of crypto (like 1% of $.01). There are hundreds of faucets out there. Some are scams, some are real. 

At first I (like many others) dismissed this as a Ponzi scheme. It isn’t. You are investing your time, nothing else. Faucet owners get paid by advertisers and in exchange they give you a portion of those earnings. I’ve been doing it for about a month and have made a successful withdrawal of coins to my wallet. I’ve also researched these faucets and they are highly reputable.

All you need to sign up for the faucet is an email address and a computer. Never give your ID, address or any payment information to any faucet.

Yes, Bitcoin Faucet Claims Are Small, So Is This Worth It?

multicoinfaucet-ether-dice-roll-matrixEarly investors of Bitcoin paid just $.06 for a Bitcoin. A $100 investment seven years ago would be worth $28 million today. One year later at $3.19, $100 would have bought you 31 Bitcoin. In 2013, Bitcoin really took off to $724. Six months later, in June 2017, no one thought Bitcoin could go much higher than $2,500. At the end of 2017, Bitcoin was trading for $13,170.

No wonder people are fascinated with Bitcoin as an investment.

The biggest complaint about Bitcoin faucets is that “the amount of the claim is small.” If you are already wealthy or got in on cryptocurrency 7 years ago, I can understand your concern. Bitcoin faucets make small claims, but you never know where Bitcoin will be trading in 7 years. Still, this is a valid concern, especially for people with bills to pay and no extra time on their hands.

This is my response to these concerns:

1) The amount is small, but there are ways to maximize your earnings. Each faucet, like a game, has a few secrets that can greatly increase your earnings, sometimes by 500%. I’ll explain the key to maximizing your claim amount for each faucet in a moment.

2) You can’t make a decent income by yourself, you need referrals. Those referrals must be users as well. It is not enough to simply give someone else your referral code. You also need to help them optimize the claim amount.

3) Bitcoin is the front-runner in the fastest growing asset class in the world. As you can see from the chart below: the value of Bitcoin is highly volatile and tends to go up over time.

It gives anyone with an email address the ability to earn/mine crypto, just like Bitcoin miners were doing 7 years ago.

In one year the value of the Bitcoin you have may be 10x what it is today. It could also be 10x less, but at least you don’t lose any money if you “mined” your Bitcoin from a Bitcoin faucet. In other words, the value of what you hold may be small today, but the value of cryptos is going up and if the trend continues, this is a way for you (for everyone) to invest even if you don’t have the money. If you don’t have access to your own computer, go to a computer lab or a library. Use your phone. It’s also a great way to hedge against those dollars in your savings. As the value of cryptocurrencies goes up, it will be against the dollar.

4) These faucets give out more than Bitcoin. They also give out Bitcoin Cash, Litecoin, Dash and Dogecoin. You are actually earning a diversified set of cryptos. Each one of these is on the top 50 list of cryptos by market capitalization, which is to say they have a lot of growth potential.

5) Finally, think of your daily claim potential as you would interest on savings. The amount may be small, but it has the potential to add up over time. Also keep in mind, inflation is going up. The value of a dollar in savings may not be worth what it is today. Much of the interest in Bitcoin is due to a loss of interest in the US dollar.

So whats the best way to optimize your results?

optimise-your-resultsIn my research model, i conclude that you only need 100 referrals to optimize your results. Of course, you are always welcome to do more. As you grow your referral base, you may want to limit the number of people as well.

You might need to be able to answer questions and help each person, regardless of their level of understanding. In fact, if they know how to use faucets already you can show them the tips I provide.

How To Start Making Claims

You will need an email address and a computer. You will never need any ID, payment information, or password information to do a faucet. 

These are the steps you will go through at a high level:

coinpot-reviewStep 1: Sign up for a Coinpot MicroWallet (https://coinpot.co/). This is a where each faucet will send your “claim”. When you reach your withdrawal minimum, you will want to move your crypto currency from your software wallet (CoinPot) to another wallet.

Step 2: Sign up with each of the following faucets. Each one of these faucets is already connected to your Coinpot MicroWallet. As long as you sign up with the same email address you used to sign up for your Coinpot, they are automatically connected.

Play around with each faucet a bit to get a feel for how this works. Please use my referral codes to sign up for the faucets. We need it for coffee and to keep the lights on around here.

Moon Bitcoin

Moon Dodgecoin

Moon Litecoin

Moon BitcoinCash

MoonDash

Bit Fun

Bonus Bitcoin

Step 3: Optimize your claim amount on each faucet. I’ve modeled out the performance of each faucet. 

Each faucet has its own incentive structure. In general there are two different structures. Your goal is to maximize the claim by paying attention to rewards:

Moon Bitcoin

moon-bitcoin-in-reviewThis is a unique faucet. It pays out in Bitcoin. It is the only incentive structure with 5 different bonus categories. Each bonus category gives you the ability to double your claim amount. It also pays at 50% for referrals. This makes Moon Bitcoin one of the best opportunities in the Coinpot faucet network. In addition to referrals, Moon Bitcoin also rewards the following:

1) Loyalty bonus — Action: make a claim at least once a day. This is the easiest bonus. All you have to do is make a claim every day and you get a bonus. If you miss a day, it resets back to 1 and you have to walk up to 100% again.

2) Referral bonus — Action: refer at least 100 people to take full advantage of the referral bonus.

In addition to getting 50% of your referral’s claims, you also get a 1% bonus for every person you sign up — up to 100%. This bonus has a ceiling of 100 people, but your referral commission does not.

3) Offer Bonus — Action: do 10 offers to take full advantage of the 100% claim bonus. This bonus has a ceiling of 10 offers.

4) Mystery Bonus — Do nothing and earn this bonus.

5) Mining Bonus — Mine on your computer for a 100% bonus depending on your hash rate. This is new. 

There’s one other thing that is absolutely critical in your claim amount. This is true for all 6 faucets — the number of times you claim can drastically increase your daily claim amount. For example, based on the current claim rate which is published on the Moon Bitcoin site, if you claim every 5 minutes for 4 weeks you get 16,128 satoshi (assuming no referrals or bonus opportunities). However, if you claim every 4 weeks you get 111 satoshi.

The key to optimizing this faucet is to claim as often as you can, at least once a day for the loyalty bonus. You want to refer at least 100 people to take advantage of the 50% referral commission and max out on the 1% per referral bonus. You want to do 10 offers to take advantage of the offer bonus. You can also get a bonus for mining on your computer. Focusing on these actions can greatly increase your claims.

Moon Dodgecoin

moon-doge-coin-reviewMoon Dogecoin is like Moon Bitcoin, but pays out in Dogecoin. All the Moon faucets have the same basic structure, but not as many bonus options. 

1) Loyalty bonus — Action: make a claim at least once a day. This is the easiest bonus. All you have to do is make a claim every day and you get a bonus. If you miss a day, it resets back to 1 and you have to walk up to 100% again.

2) Referral bonus — Action: refer at least 100 people to take full advantage of the referral bonus. In addition to getting 25% (not 50% like Moon Bitcoin) of your referral’s claims, you also get a 1% bonus for every person you sign up — up to 100%. This bonus has a ceiling of 100 people, but your referral commission does not.

3) Mystery Bonus — Do nothing and earn this bonus.

The key to optimizing this faucet is to claim as often as you can, at least once a day for the loyalty bonus. You want to refer at least 100 people to take advantage of the 25% referral commission and max out on the 1% per referral bonus. Focusing on these actions can greatly increase your claims.

Moon Litecoin

moon-litecoin-reviewMoon Litecoin is the same as Moon Dogecoin. 

1) Loyalty bonus — Action: make a claim at least once a day. This is the easiest bonus. All you have to do is make a claim every day and you get a bonus. If you miss a day, it resets back to 1 and you have to walk up to 100% again.

2) Referral bonus — Action: refer at least 100 people to take full advantage of the referral bonus. In addition to getting 25% (not 50% like Moon Bitcoin) of your referral’s claims, you also get a 1% bonus for every person you sign up — up to 100%. This bonus has a ceiling of 100 people, but your referral commission does not.

3) Mystery Bonus — Do nothing and earn this bonus.

The key to optimizing this faucet is to claim as often as you can, at least once a day for the loyalty bonus. You want to refer at least 100 people to take advantage of the 25% referral commission and max out on the 1% per referral bonus. Focusing on these actions can greatly increase your claims.

MoonCash Aka Moonbitcoincash

moon-bitcoin-cash-reviewNewest faucet with highest claim amount. The bonus structure is the same as MoonDoge and MoonLitecoin, but pays out in Bitcoin Cash. You can optimize your daily claims by doing the following: 

1) Loyalty bonus — Action: make a claim at least once a day. This is the easiest bonus. All you have to do is make a claim every day and you get a bonus. If you miss a day, it resets back to 1 and you have to walk up to 100% again.

2) Referral bonus — Action: refer at least 100 people to take full advantage of the referral bonus. In addition to getting 25% (not 50% like Moon Bitcoin) of your referral’s claims, you also get a 1% bonus for every person you sign up — up to 100%. This bonus has a ceiling of 100 people, but your referral commission does not.

3) Mystery Bonus — Do nothing and earn this bonus.

The key to optimizing this faucet is to claim as often as you can, at least once a day for the loyalty bonus. You want to refer at least 100 people to take advantage of the 25% referral commission and max out on the 1% per referral bonus. Focusing on these actions can greatly increase your claims.

MoonDash

moondash-reviewMoonDash is the same as MoonDoge, MoonLitecoin and MoonCash, but it pays out in Dash. 

1) Loyalty bonus — Action: make a claim at least once a day. This is the easiest bonus. All you have to do is make a claim every day and you get a bonus. If you miss a day, it resets back to 1 and you have to walk up to 100% again.

2) Referral bonus — Action: refer at least 100 people to take full advantage of the referral bonus. In addition to getting 25% (not 50% like Moon Bitcoin) of your referral’s claims, you also get a 1% bonus for every person you sign up — up to 100%. This bonus has a ceiling of 100 people, but your referral commission does not.

3) Mystery Bonus — Do nothing and earn this bonus.

The key to optimizing this faucet is to claim as often as you can, at least once a day for the loyalty bonus. You want to refer at least 100 people to take advantage of the 25% referral commission and max out on the 1% per referral bonus. Focusing on these actions can greatly increase your claims.

Bit Fun

bitfun-co-reviewBitfun is slightly different. It pays out in Bitcoin at a higher rate than MoonBitcoin. You can also play games and do offers. Playing games does not increase faucet amount rate, however. You can only make a claim every 15 minutes as opposed to 5 min. with the other Moon faucets.

Referral bonus — Action: refer as many people as possible to take advantage of the 50% commission.

The key to optimizing this faucet is to claim as often as you can, but there is no loyalty bonus. You want to refer as many people as you can to take advantage of the 50% referral commission. Focusing on these actions can greatly increase your claims.

Bonus Bitcoin

Bonus Bitcoin pays out in Bitcoin. The amount you can claim varies, but you can get a bonus of 5% on all your claims and referrals for the past 3 days as long as you make a claim every day. You can only make a claim every 15 minutes as opposed to 5 min. with the other Moon faucets.

Referral bonus — Action: refer as many people as possible to take advantage of the 50%
commission.

The key to optimizing this faucet is to claim as often as you can every 15 min. You want to refer as many people as you can to take advantage of the 50% referral commission and the 72 hr loayalty bonus. Focusing on these actions can greatly increase your claims.

 

article used with permission from: Celan Bryant http://www.celanbryant.com/2018/01/bitcoin-faucet-experiment-particpate.html

Yes, we are one of his 100 referrals.