My experience with CoinPot
CoinPot logo

My experience with CoinPot


Before I knew how to earn money and invest into Bitcoin, I was using CoinPot. CoinPot is an online microwallet that is tightly integrated with some cryptocurrency faucets. It supports Bitcoin, Bitcoin Cash, Litecoin, Dogecoin and Dash. You claim from the faucets (like e.g. moon bitcoin or moon doge) and the cryptocurrency gets credited to your account. Relatively recently they have added an internal token system, which you can use to gamble or convert them to the cryptocurrency of our liking. Also they have a limit on how little you can withdraw. Now let's quickly run over what I like and what I don't like:

Con: It takes a lot of time and is inefficient

Like with all faucets it is very hard to earn a substantial amount of money. I earned more with Publish0x in 3 days than with CoinPot in 2 months, so that speaks for itself.

Pro: Easy conversion between currencies

You can deposit any of the supported currencies (like in a regular wallet) and convert between them freely and fairly quickly, although servers can sometimes be slow at peak times.

Con: Gambling

Faucets are how most young people start out with cryptocurrency. And the ability to gamble all your money away is a con for me. Although you might disagree with me, and that is fine, I still count it as a con.

Pro: Money

Money, whether a lot or a little, is always good.

Con: Security

I stopped using CoinPot after a while. I found better ways to earn cryptocurrency and money than checking a faucet every 15 minutes. And there have been some incidents with bigger sums of money getting stolen from accounts, so I can not advise anyone to put all their Bitcoin on there.

 

Conclusion:

All in all, earning your first dollar is fun and interesting. It opens up your mind to other forms of earning money and introduces you to new horizons just by investing your time. Though if you are an adult with a job and income or looking for an opportunity to earn money, do not waste your time on faucets. You earn less tan a cent per claim and it really is not worth your time.

Hope that helps someone.

Cheers :)

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Jokes, psychology and crypto
Jokes, psychology and crypto

In this blog you will read some funny stories, how to cope with psychological problems, psychoanalysis, what this all has to do with cryptocurrency and cryptography, my experiences with bitcoin and much much more!

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