Recently I did read about coinpot and its faucet closing in near future. I use that site for quite some time and I was a little upset they're going to close the website. I wanted to write an article about coinpot anyway, but I didn't expect it would be just to let You use the best of it till it's closed.
So what is coinpot and it's faucets?
Coinpot is a kind of micro wallet, with its own stable coin - coinpot token, worth 0.0001$, in other words 100 coinpot tokens are worth one cent, and 10,000 - 1$. Other coins available on that platform are: Bitcoin (called "Bitcoin core" here), Bitcoin Cash, Litecoin, Dash and Dogecoin. The platform connects 7 faucets, all claims are automatically added to the balance, which can be managed through coinpot.co. User can convert all six tokens (5 crypto and coinpot token), and use some additional features like mining, lottery and use multiplier.
Coinpot offer 7 faucets, 5 "Moon faucets" as I like to call them (because all have the word "moon" in their addresses) and 2 additional faucets for bitcoin.
Those additional faucets are:
bitfun.co - a simply faucets with some games on its website, which let you get a some satoshi's every few minutes. It has not that bad reload time when I used it, which I recently can't do as captchas didn't work for me from some time. It doesn't have any additional features, as far as I remember (as it wasn't working I didn't use it for some time already). And as most of coinpot's faucets it accumulates what's available for claim. Of course how much is accumulated drastically changes with time. When I used it (with BTC price being at level around 10,000-16,000$) it could accumulate about 15 satoshi for whole day (and almost the same just through the night)
bonusbitcoin.co - next simple faucets, but without games, and automatic 5% daily bonus, and quite decent referral bonus - 50% of refferalls claims! It's also most unique one as it let You claim every 15 minutes and in theory You can receive up to 5000 satoshi. But actually I always get less than 10. And since some time I had problems with logging in to it...
The "Moon faucets" are:
moonbit.co.in - for Bitcoin
moonbitcoin.cash - for Bitcoin cash
moonliteco.in - for Litecoin
moondash.co.in - for Dash
mondoge.co.in - for Dogecoin
They all work the same just for other cryptocurrencies, so it would be pointless to write about them separately. Each of them accumulates cryptocurrency and lets You claim what's already accumulated, and You can't claim more often than once in 5 minutes. Of course, initially it refills quite quickly, but then it drastically slows down. For example now after a little bit less than 24 hours I've got... just 2 satoshi's to claim (but well usually it was a few times more, but with a lot lower bitcoin price). And for another example here are the claiming rates of litecoin(which refills fast as it has one of the smallest value from coinpot available coins... well expect for dogecoin of course):
What's good about moon faucets is that besides claiming an amount of crypto You get some bonuses. Firstly each claiming gives you (by default) 3 coinpot tokens(and sometimes You even can claim 0 satoshi just for getting those, those bonus applies also for 2 faucets mentioned before), a loyalty bonus - 1% for each consecutive claiming day; a referral bonus - 1% for every active referral; and a mystery bonus... which is just random. Every one of the bonuses has a max of 100%, The amount is also rounded, for example in my last claim I get:
I have no active referrals at the moment as You see... and my previous claim was within the same 24-hour thresholds, for calculating consecutive days. And before I didn't claim for some time. So I get no loyalty bonus. The main drawback of this system is that when You lose Your loyalty bonus You have to build it anew... and just a little bit more than 24 hours may be enough to break the chain of bonus days. In my opinion, that sucks... and on those faucets, You also get 50% of referral commissions.
There are also tasks to perform on moonbit.co.in, which let You earn some satoshis for installing and playing games doing surveys etc. And give some additional bonus, but considering how little satoshi you now get this bonus most likely wouldn't change much.
When will this end? How to save what's collected?
The website is closing in two steps. The First will happen at midnight 31 January since that moment:
- faucets won't work anymore
- registration of new user will be closed
- all additional features (mining, multiplier, lottery, challenges, VIP rewards - more about those last later...) won't work anymore.
So actually the only things You can do after that will be conversion and withdrawals, but that will be possible only till 28th February(after that also al user data will be deleted). If You would have anything that wouldn't withdraw will be lost. You can read more about this and why they're closing here.
The bad thing is there is minimal withdrawal for every cryptocurrency, which seems to be the easiest to achieve for litecoin (0.005 LTC) - so If You have not reached enough coins of some kind You'll have to convert it, as they didn't say anything about disabling minimal withdrawal requirement.
The minimal withdrawal are following:
- BTC: 0.0001
- BCH: 0.001
- Doge: 50
- LTC: 0.005
- DASH: 0.0002
How to make a profit from Coinpot?
As You probably know faucets aren't a very good way to make profits. They require so much time and give so little for that... but there are other ways!
Well... actually to start to use them You'll have to make "some" faucet claims first. Those are challenges and VIP rewards.
Let's start with the first one...
Challenges or how to use multiplier properly
First I must say how multiplier works. It let you stake 1, 10, 100, 1k or 10k Coinpot tokens, on the roll house edge, meaning low is for 0-499 results and high for 500-999. Well actually it doesn't seem like it really is 0% edge with no hidden mechanics to prevent players from the win as having it roll for let's say 10 hours You'll usually get about 200-300 times loss (depending on the stake - with 1 token, You'll lose 200-300 tokens, with 10 2000-3000 tokens etc.). You can also set it to change stake or on what You bet (high/low) after win or lose. And set it to the desired amount of rolls or just let it do unlimited numbers (with some boundary of max loss and/or gain).
It can seem to You that it's just a way to lose those coinpot tokens... but it actually isn't so! "
Well... when You count just the multiplier itself. But that's actually not the case!
...because here the challenges come into play! What are they? Well, they are like simple tasks, divided into 3 time categories: all-time, daily and monthly. For almost every activity on the platform, there is a task: claiming from the faucets, referral faucet claims, buying lottery tickets, win a lottery, be lottery runner up, buy exactly 999 tickets in lottery round, conversions, mining coinpot tokens, even collecting challenge stars but also... number of rolls in a day, the total amount of coins stacked in a multiplier and rolling exactly 999.
Most of them has a variant for each category, and every task has 5 level, with increasing requirements, for each You get challenge stars - 1 for the 1st level, 2 for 2nd and so on - as You can see on the screenshot above. For every star You get 100 coinpot tokens. As You can see I did already (in the moment when taking this screenshot) did 13637 multiplier rolls and... well I don't know why it says that amount stacked is bigger, but it's similar anyway. With that amount I already did 3 levels of this task and 1 of the other. That translates into 6 (1+2+3) and 1 stars, so 700 coinpot tokens! That's already about 500 gain in one day. But it won't be that hard to reach 30,000 staked/rolled, which give me another 600 tokens (4+2 stars), and maybe even next 800 tokens (5+3 stars). So as You see it's actually quite profitable (with around 1000 tokens per day being quite a realistic gain). And I'm not counting the monthly and all-time reward for that, not telling about rolling 999 - but this is sadly only for the all-time task, so only 15 stars in total for that.
But to start using this I would recommend firstly collect about 1000 coinpot tokens, to be safe - but even with half of that You may already try this, just with some risk.
Also some time ago they add an interesting feature. When rolling 3 equal digits (111, 222, 333, etc.) You get some free lottery tickets! Only downside is those tickets are valid only till the end of the day...
There is also a competition for having the most stars in the month, with the following rewards:
This is the current leaderboard. And as You see there is a pretty high amount for being in the first place... but the winner gets not that small reward - first prize is worth 1000$! But the amount of the user at 1st place is now just slightly less than my amount of collected start all time! (about 1400 - Would be much higher If I have discovered this trick with a multiplier earlier...)
Some more words about the lottery
Before I go to the VIP rewards system I wanna say something more about how the lottery works here. So it runs hourly. Users can buy lottery tickets (for the price of 1 coinpot token, they automatically used) and the amount of tickets (it stacks with the free tickets!) creates a prize pool. 1 user gets 50% of it (he is considered the winner) and 5 more users get 10% (they are considered "runner up"). Your chance depends on a number of used tickets, and well is usually low - so I wouldn't actually recommending buying tickets for that, despite it gives stars, unless... You wanna try to get a prize for the stars leaderboard. If You manage to time Your all-time rewards, and rewards for buying lottery tickets properly (and perhaps win or being runner up in the lottery with those tickets - which give next stars and some coinpot tokens too) then perhaps You could win... well I did tried it once (And get to be a winner and runner up exactly one time... which give me just) without success, but I didn't know multiplier trick that time. With that perhaps I would be successful.
Anyway using free tickets until they become invalid and get just this very slight chance of winning is a good thing to do anyway and doesn't require much more time.
VIP reward system
And now the cherry on top, which makes it possible to kinda staking coinpot tokens. In a way, as we do with other cryptocurrencies. It's Called VIP reward system and is connected to the amount of coinpot tokens in Your wallet.
There are six level of VIP reward: standard (initial variant), bronze(100k), silver(500k), gold(1000k), platinum(2500k) and diamond(5000k). The give a lot of advantages:
- 0.02% interest on coinpot tokens DAILY - beginning with standard level, and next 0.02% with each new level (to 0.12% at diamond)
- Free challenge stars daily; 0 at standard, and 1 more with each level (which also mean some constant free coinpot coins! 500 at diamond)
- 4 coinpot tokens for every claim on bronze and silver, 5 on gold and platinum and 6 on diamond (instead of default 3)
- free lottery tickets daily 0 on standard, 10 on bronze, 25 on silver, 50 on gold, 100 on platinum and 250 on diamond.
So as You can see, there is a point in having those tokens. Perhaps sometimes it's even better than keep them in crypto on that platform.
Final thoughts and what to do
Well certainly starting using coinpot now wouldn't be a good idea - there's too little time to make good use of it before it close. But if You already have coinpot account why make the best of it till it's still time for that. But how to convert coins to get the best amount of withdrawal - go all-in into coinpot tokens, or just keeping to crypto and hoping they wouldn't drop in the value... well that all is up to You. Certainly, if there would be a huge bitcoin price drop in the near future then converting all BTC to coinpot tokens now and then convert back to bitcoin would be a great idea, but it could also go in the opposite direction. You have to choose for Yourself. Just remember to withdraw at the end... and that You can only withdraw crypto, not coinpot tokens.
Coinpot - moon faucets:
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