Category Archives: Faucet

Bitcoin (BTC), Dash (DASH), Faucet, Litecoin (LTC)

How Much Can You Make on Coinpot in 1 Year?

July 21, 2018 flippener

Estimates assume Bitcoin, Dogecoin, Litecoin and Dash grow at the same rate that they did last year.

[Repost] I recently wrote an article titled: Mine Cryptocurrency For Free Using Coinpot: The Bitcoin Faucet Experiment. The main question I get is how much can you make? It’s a fair question. People want to know how much they can make before investing the time. I understand.

The answer is: it depends. There’s a wide range. Based on my model you can make as little as $900 or as much as $2 million in 1 year. It depends on a variety of factors including: the original claim amount, the number of times you claim a day, the number of referrals you have, the number of times your referrals claim a day, loyalty days and a number of other factors, not to mention the price of crypto.

I had to create a calculator to figure it all out. Within the calculator I’ve created scenarios that help to understand how the different factors above can impact your daily claim amount. These scenarios are labeled min, mid and max. The min scenario represents the person who puts forth the least amount of effort. The max scenario models out the power user with the highest amount of activity. The mid scenario is somewhere in between.

Here’s a quick slide to help explain each scenario:

In other words, Min activity is just mailing it in with one click a day. Mid activity is someone with 100 referrals making between 25 and 48 claims a day, and Max activity is someone who’s maxing out every claim. I like to the think of Min as a lower limit, Max as an upper limit and Mid as an average.

Next, I annualized the daily claim amount from each faucet calculator under each scenario, made a forecast of crypto currencies one year from today and these are the results.

The Results

The first set of results provides an estimate of how much you can make if crypto prices remain the same as they are today.

As you can see from the boxes highlighted in yellow, the minimum amount you can make is around $900, the middle point is around $10K and the max is almost $70K.

1 year estimate of what you can make using Coinpot faucets based on current cryptocurrency prices

So, another way to interpret the results is:

If you’re just mailing it in with 1 claim a day for the rest of the year and have no referrals, you can make $900, providing prices remain the same.
If you make 24–48 claims per day with 100 referrals doing the same thing, you can make $10K, providing prices remain the same.
If you make max claims per day (58–288) with 500 referrals doing the same thing, you can make $70K, providing prices remain the same.

The thing about crypto is that the price does not stay the same. As much as I like free money I wouldn’t be advising you to do this for $900 a year?—?though that’s nothing to sneeze at, especially if it’s free. Early investors of Bitcoin paid just $.06 for a Bitcoin. A $100 investment seven years ago would be worth $28 million today. It is highly unlikely that crypto prices in one year will be what they are today.

What if crypto prices grew 30% on average? The following chart shows what happens to the value of your crypto holdings if crypto prices at the end of 2018 are 30% higher than they are today.

1 year estimate of what you can make using Coinpot faucets based on 30% increase in cryptocurrency prices

If you’re just mailing it in with 1 claim a day for the rest of the year and have no referrals, you can make $1,100 with a 30% increase in prices.
If you make 24–48 claims per day with 100 referrals doing the same thing, you can make ~$13K with a 30% increase in prices.
If you make max claims per day (58–288) with 500 referrals doing the same thing, you can make ~$90K with a 30% increase in prices.

This is amazing, but again, I wouldn’t be telling you to do this for $1,100. The reason people are interested in cryptos, the reason why people are taking out a mortgage on their home (DO NOT DO THAT) to invest in cryptocurrency is because of the exponential growth rates. Bitcoin, Dash, Litecoin and Dogecoin all grew by 1326%, 5935%, 5215% and 3916%, respectively, over the last year (Bitcoin Cash just started in late July/early Aug.).

This is amazing growth and there’s a chance it won’t ever happen again, but cryptos have been on a growth trend for the past five years so I don’t think last year was a fluke. Here’s a chart showing the pace of growth in the crypto market over the last 5 years.

Cryptocurrencies have grown exponentially over the last five years

As you can see, market capitalization grew from $8.8 billion in 2013 to $221 billion in 2017. 2014 was a bad year, but all other years saw phenomenal gains. Now that the word is out about the use value of cryptos, I believe the growth trend will continue to grow exponentially.

So what if the cryptos in your Coinpot portfolio grow at the same level they grew at last year in 2018? These are the results:

If you’re just mailing it in with 1 claim a day for the rest of the year and have no referrals, you can make $13K if prices grow the same rate as they did last year.
If you make 24–48 claims per day with 100 referrals doing the same, you can make ~$240K if prices grow the same rate as they did last year.
If you make max claims per day (58–288) with 500 referrals doing the same thing, you can make ~$2 million if prices grow the same rate as they did last year. Note: there is no max on referrals so this could be higher.

Cryptos may not be able to keep up the bull run they had last year, but if they do it means you could be sitting on a nice portfolio of crypto by the end of the year without spending a dime.

Here’s a quick overview slide of all three price scenarios.

The amount you make depends on the level of activity of you and your referrals

No matter what the scenario, in terms of activity level or price, Coinpot is a great way to invest in cryptocurrency without incurring any risk. It’s also great for people that are new to the cryptocurrency world. You don’t have to buy anything or set anything up. It’s all been done for you and it’s all free. All you need is a computer and an email address. To be clear, not all faucets are like Coinpot, so be careful. The reason I chose Coinpot for this experiment is due to its ease of use and credibility. I’m currently working on a few others and will send out a post when that happens.

How To Sign Up For & Maximize Coinpot Faucets

So now that you see the potential, these are the steps to sign up and get started:

Step 1: Sign up for a Coinpot MicroWallet (https://coinpot.co/). This is 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 faucet.

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

This 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.

The key to optimizing this faucet is to claim every 25 minutes or so. This is the max out time, not 5 minutes. This may change, but current claim rates show that there is no benefit to claiming at smaller time intervals. You don’t start to make less satoshi until you wait for 30 minutes or more. So you can claim more often, but you won’t make any more than if you claim every 25 minutes (I say 25 because you don’t want to wait until the last minute). This makes MoonBitcoin one of the easier Moon faucets to reach maximum claims on. If you can’t claim every 25 min, at least claim once a day for the loyalty 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 Dogecoin

Moon 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.

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 every 25 minutes or so. This is the max out time, not 5 minutes. This may change, but current claim rates show that there is no benefit to claiming at smaller time intervals. You don’t start to make less dogecoin until you wait for 30 minutes or more. So you can claim more often, but you won’t make any more than if you claim every 25 minutes. I say 25 min because you don’t want to wait until the last minute. If you can’t claim every 25 min, at least claim once a day for the loyalty bonus. This makes MoonDoge one of the easier Moon faucets to reach maximum claims on. You want to refer at least 100 people to take advantage of the referral commission and max out on the 1% per referral bonus. Focusing on these actions can greatly increase your claims.

Moon Litecoin

Moon Litecoin is the same as Moon Dash (see below), but it pays out in Litecoin. Though it has a similar bonus structure to MoonDoge and MoonBitcoin, it requires more claims to max out.

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

The key to optimizing this faucet is to claim at least once a day for the loyalty bonus. To maximize this claim you need to claim every 5 minutes or 288 claims per day which is the highest of any faucet except Moon Dash. This makes MoonLitecoin and MoonDash slightly harder than the other Moon faucets, but not by much. You want to refer 100 people to ms of the 25% referral commission and max out on the 1% per referral bonus. Focusing on these actions can greatly increase your claims.

MoonCash

Newest faucet. 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:

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

The key to optimizing this faucet is to claim every 25 minutes or so. This is the max out time, not 5 minutes. This may change, but current claim rates show there is no benefit to claiming at smaller time intervals. You don’t make less satoshi until you wait for 30 minutes or more. So you can claim more often, but you won’t make any more than if you claim every 25 minutes. I say 25 min because you don’t want to wait until the last minute. If you can’t claim every 25 min, at least claim once a day for the loyalty bonus. This makes MoonCash one of the easier Moon faucets to reach maximum claims on. You also want to refer 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 is the same as MoonLitecoin, but it pays out in Dash.

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. To maximize this claim you need to claim every 5 minutes or 288 claims per day which is the highest of any faucet except Moon Dash. This makes MoonLitecoin and MoonDash slightly harder than the other two faucets. You want to refer 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 is slightly different. It pays out in Bitcoin at a higher rate than MoonBitcoin and has no limitations on claim time. You can also play games and do offers. Playing games does not increase faucet amount rate, however.

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 around 4hrs, 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

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 loyalty bonus. Focusing on these actions can greatly increase your claims.

Step 4: Final Step

Take what I’ve written here and make it your own. You have full license to plagiarize all you want. First, replace my referral codes with your own referral codes (please let me know if you need help finding your codes). Send it out to your friends and family. Set up a seminar at your community center or library. Send it out on Facebook/Twitter/Instagram. If you do add additional faucets to your list, be sure to vet them out for your base.

You can look up the price of any cryptocurrency onhttps://coinmarketcap.com/.

Final thoughts: Crypto is For Everyone

The world of investments is largely cut off from people that don’t have the means, but crypto isn’t. I have family and friends on both sides of the wealth spectrum and this is a great way for both to accumulate coins. Those that have money, but are worried about Bitcoin’s viability, can use faucets as a no risk way to participate in the crypto boom. Those that don’t have the money can also use this as a way to participate.

Translation: If you don’t have $1 million (or even $10,000), Coinpot is a great way to build a diversified portfolio of high potential crypto. It is a portfolio strategy in and of itself.

Bitcoin, Bitcoin Cash, Litecoin, Dash and Dogecoin represent a good cross-section of cryptos available on the market today. The only one that’s missing is Ethereum and I’m looking for a good Ethereum faucet to recommend now.

I will also warn that the learning curve for crypto is steep, but you don’t have to know any of that for Coinpot. Coinpot is a wallet and the faucets it supports are already set up to deposit directly into your Coinpot wallet?—?real time. It couldn’t be any easier.

Update (1/27/18)

As a corollary I wanted to follow up with a very important piece of the crypto puzzle?—?security. You need to keep your crypto safe?—?it’s not safe in Coinpot once you make more than the threshold limits. So you have some time before security becomes an issue, and the amounts you are making are small, but don’t use that as a reason to get sloppy on security. Use the time it takes to reach the threshold to learn more about security.

The threshold limit varies for each coin. According to the website, “Withdrawal requests are processed and paid directly to your wallet within 48 hours.” In my experience, it’s much faster.

These are the current withdrawal threshold limits which can be found on Coinpot when you click on “Withdraw”:

Bitcoin?—?10,000 satoshi (.00010000)

Bitcoin Cash?—?10,000 satoshi (.00010000)

Litecoin?—?200,000 latoshi (.00200000)

Dash?—?20,000 duffs (.00020000)

Dogecoin?—?50 dogecoin?—?side note: you can only withdraw dogecoin to a dogecoin wallet (for free). Then you can transfer to your main wallet.

Once you reach the threshold, you should withdraw your coin to a safe wallet. This is the best article I’ve found on crypto wallets: https://blockgeeks.com/guides/cryptocurrency-wallet-guide/. It also recommends a few wallets and explains what your options are far better than I can.

Once you decide on one of these wallets, you need to follow that wallet’s instructions for receiving or depositing funds. These instructions are very important?—?do not skip this part.

Your new wallet will give you an address in order to deposit funds. Each address is specific to a certain coin. In other words, you have a different address for each coin. Copy the address and put it in the “withdrawal box” in Coinpot. You want to copy your address and put it in the box.

You’re not done yet. Once you make this request, Coinpot will send you a verification email to confirm your request as an extra layer of security. If you don’t click the link, the withdrawal will not occur.

Update #2 (3/22/18):

When I first started this it took a few weeks to reach my threshold, now it takes a few days (if that). Instead of transferring coins to my wallet (which can be tedious), I’ve put a 2FA code on my Coinpot account which adds an extra layer of security. I highly recommend you do the same. If you need help with this step send me a note.

That’s it. Hope it helps. As always, let me know if you have any questions.

Update #3 (5/2/2018):

This is just a quick update to let you know where I am and what I think about Coinpot so far.

Today, Bitcoin, BCH, Dash, Litecoin and Doge are all trading at the following prices:

Bitcoin: $9,163 (down from $12,326 on 1/23/18)
BCH: $1,468 (down from $1,886 on 1/23/18)
Dash: $471 (down from $881 on 1/23/18)
Litecoin: $149 (down from $200 on 1/23/18)
Doge: $0.005245 (down from $0.007962 on 1/23/18)

What’s the common theme? Prices are down across the board.

To make matters worse, I missed making a claim on day 99 and my loyalty percentage reset. I was furious.

So, why am I still thrilled about Coinpot?

Well, for starters, my inability to claim on day 99 isn’t Coinpot’s fault. More importantly, I believe crypto is the future. I echo the same belief system as Andreas Antonopoulos “Bitcoin Jesus”. (see video below)

https://www.youtube.com/watch?v=T2zH-T_hmLs

My interest and investment in bitcoin are about more than value. That said, I believe cryptocurrency, with bitcoin as its leader, has the potential to give the world an offer it can’t refuse (Godfather). In this way, the drop in price is nothing but an opportunity in my eyes.

Remember:

Bitcoin traded at 6 cents for most of 2010.
$100 in bitcoins on Jan. 1, 2011 bought you 333.33 bitcoins.
On June 8, 2011, bitcoin hit a high of $31.91, making the paper value of your $100 investment about $10,500.
Today, bitcoin is valued at $9,163 so your $100 investment in 2011 is worth ~$3 million.

How much have I made over the last 4 months? I’ve made a little over $30 by checking in once a day. I also have approximately 30 referrals on each faucet. It doesn’t sound like much. And, it’s a far cry from $900, but I’m not concerned. The potential is still there. With the drop in price, the potential is even greater.

While I won’t be optimizing loyalty points (read: making daily claims), I’ll be sure to provide another update in a few months.

Update #4 (7/11/2018): $100 milestone

Quick update, I hit a $100 milestone today and wanted to share the good news. About 75% of that is in Bitcoin and the rest is in Dash, Doge, Litecoin and Cash. Am I anywhere near $900? No, but Bitcoin has dropped in value since I started this. That would be a concern if I didn’t think Bitcoin was the new gold. So, a drop in price is an opportunity when it comes to faucets and investing. And, Coinbase just added 10 customers for its new crypto custody service. What does this mean? It means institutional investors can now get on board. Woot! Woot! I hope you’re having as much fun as I am!

Original article: Celan Bryant on CryptoCurrencyHub

Faucet

Mine Cryptocurrency For Free Using Coinpot: The Bitcoin Faucet Experiment

July 10, 2018 flippener 1 Comment

[Repost] 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.

Use Coinpot to Earn Crypto For Free (Image: BIUK)

Mine Bitcoin Directly From Your Computer

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.

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.

Bitcoin Faucet Claims Are Small

Early 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 ago, 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.

This is perhaps the most important aspect of this experiment for me. 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.

What will I be compensated for this experiment?

You will be compensated in the crypto that you earn.

Why only 100?

In my research model 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 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, but you may not want them in your 100 referral group. Not that they won’t be a good referral, but because the goal of the experiment is to help those who can benefit from this the most. This is social entrepreneurship at its best. You benefit the most from helping those that need it the most.

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:

Step 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 faucet.

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: