Well, it was looong since my last article. There were a few reasons. I wanted to make an article that summarizes my effects on Coinpot, but... well I did wait really long for my crypto to arrive on my exchange account, and I even started creating some other article but making it took longer than I thought (it isn't even finished yet)... and in general, I didn't do my best with Lent resolution - well at least I did keep the most important, and I'm currently I'm after a job interview which went well and I think I have a high chance of being hired... though not before one final test.

Anyway even though it may be "a little bit" late I still wanted to share it with You

My big mistake

If You think that I'm now going to take that using coinpot was a mistake... then You are wrong. The mistake was not even on how I did use it... well at the beginning I really did use it in not so efficient way - I tried to claim from the faucet as often that I can etc. That may not seems inefficient, but it was really time-consuming so it was not worth it. As described in my previous article on Coinpot it can be used to make quite passive income. And I was rather successful at that... 

So what WAS my mistake? Well, I kinda... tried too hard. I mean there was this one "challenge" for making enough conversion. As I did use all moon faucets 2-3 times a day I wanted then to perform this about 20 conversion I was lacking to the next challenge level. I didn't know how it will go with prices so I decided to do it at the very end of coinpot - on the last day, and even last hour. Of course, I did use coinpot multiplier to get also stars from that (so I have to keep some coinpot tokens to be able to do it) and definitely didn't want to convert my coinpot tokens before the last day to not lose the interest(I managed to get the bronze VIP level so twice as high interest as with base account)... 

As You may guess it was risky. I could not make it on time. And well the website wasn't worked well. In the last minutes, when I do final conversions it sometimes just wasn't working. I get errors even a few times before I get to do a conversion. And before I did all I wanted it was midnight... I was even more worried than I should as I forgot conversion still would be possible. And that would really be a shame if I couldn't convert my coinpot tokens to any cryptocurrency. I have something about 10$ in these tokens. But fortunately, it turned out I could make other conversions, so it was not that bad...

The problem was that website kinda started working after midnight. That wouldn't be a big deal... if not the fact I wasn't able to log in as I couldn't find my old smartphone with the Authenticator, which I used to secure login on coinpot (and to not have to confirm new logging by e-mail every time). When I finally find it... the token which I choose raised two times! It means I could have twice as much of it (from the last conversions which included mainly coinpot tokens)

My final conversion and what token I choose

As I said finally I was able to make conversions, but it wasn't at the best possible time. If I would do it faster I would get about twice as much Dash as I get. Yes, Dash was the cryptocurrency I choose. Why? Well first of all choice wasn't very wide - in theory 5 tokens (Dogecoin, Bitcoin, Bitcoin Cash, Dash and Litecoin) but actually, there were only 2 which I could reach the minimal threshold to withdraw. Those 2 were Litecoin and Dash. So I did some research. Knowing about the "Litebringer" game on Litecoin and initially thinking it could mean Litecoin value will raise, but... well this game isn't that good actually(if You are interested I may write some early-look review), and there are a bunch of better projects of that kind. The goal and idea of Litecoin and Dash also seemed actually quite similar to me, though with more of anonymity possibilities on Dash. Also the project was a few times mentioned here on Publish0x as coin, which may have significant raise in value. Also description of how the quick and cheap transfer is meant to be achieved was more appealing to me in case of Dash. 

So this was the coin I choose to convert all my other coinpot coins into. It was worth about 80 Euro when coinpot was closing. But as I mentioned I manage to convert coins into Dash only when it doubled it's value - so my research proves to be somewhat right... and they were telling me further rising is quite possible.

When I did convert coins (after Dash doubled its value) I received about as much Dash I have before from previous conversions. And if I have done it before I could get twice as much... which means I would have about 1.5 times as much Dash I finally have. This is how my account look just after last conversions:

If I would convert it right after it could be about 0.1 Dash instead of just 0.065 - both this numbers are small but the difference between them is relatively big... 

Long waiting and how much it was worth in the end

So as You see I get about 0.065 Dash, and I did send them to Dash address on my Coinbase account (as this is main exchange I use) on 17 February as You can see below:

So it was almost a month ago. And when did it arrive? Well, it takes some time - quite longer than 48h (withdrawals were usually within 48h, though near closing it was said this may take longer...) but of course still not near a month. But it was almost 20 days as it arrived 8 march at my account, what You can see here:

It's actually my only Dash on coinbase exchange so You can clearly see it was worth 11.84 Euro when it arrived. And it did increase value since that time as today, when I made this screenshot it was already worth 12.44 Euro(so about 14.63$). Not a very big difference bit still something. (You can also see that I have Coinbase in Polish, as it's my native language. "Otrzymano Dash" means "Dash received" and "Od" is "from". But You most likely already guessed that). 

So, in the end, did I get just about 15$ from Coinpot - though if not my mistake it could easily be over 20$. Is that much? Well considering the amount of time spent on it... not really considering I can earn that much by giving 3 hours of private maths lessons, and it was a time (about a month or something) when I do spend approximately an hour daily on the faucets... and well actually this isn't all I earn through coinpot. I did before withdraw nearly 50,000 satoshi (I can't tell for sure as the website is closed and I have no longer access to that data... and actually about 38,000 of that was thanks to task with playing Lords mobile which - despite being heavily p2w game I quite enjoyed) to refill my freebitco.in account. This would be now about 30$ more. So not that bad, but considering it was partially thanks to relatively well paid (but also time-consuming) tasks and most of this what I withdraw at the end was thanks to the "passive" income trick (which give me about few cents every day for about 3 month - so assuming 3 month (90 days) and this few is on average 10 per day it will result in... 900 cents, so 9$... it could be a little bit less I could overestimate it, but You get the picture)... it wasn't very much profitable. Sure gaining this additional 3$ a month is nice and all, but it's not a big deal.

Final Thoughts - so was it worth it?

The amount of time I spend on coinpot at my early days definitely wasn't worth the money I eventually get. But it would definitely be nice if I could continue to use it as a slight passive income. This way I would be profitable in the end, but when I get only a few months to utilize what I discovered... it was too little time to make it up for the initial waste of time. 

But well it just how it is with trying different possibilities - they not always will be really that good. Sometimes they could be waste of time in a purely financial perspective... but the well lesson that faucets are generally not worth is somewhat valuable to and I kinda did enjoy trying this out so in the end it wasn't that bad either. 

I wonder if You have similar experience with coinpot. Or maybe You disagree with me and You did actually make some decent money via that website? I wait for You're comments to learn that!

Also I wonder what topics will be the most interesting to You... and for that, I created this form. The next article will be about Freebitco.in in general (I'll publish it in few days) but most likely I'll choose what article to write after that according to Your votes. 

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