[Unofficial] Coinpot.co - new microwallet

[grahamlyons]

I love Coinpot. I think it's great, especially if you're new to the crypto world. You have everything you need to get started and all 7 faucets automatically withdraw into Coinpot so there's no need to set up addresses. That said, this is a hot micro wallet so I think you should transfer to your own wallet as soon as you reach the withdrawal limit.

I decided to model out how much you could make 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 at the time. Based on my model you can make as little as $900 or as much as $2 million in 1 year as long as you pay attention to the incentive structure.

https://medium.com/@celanbryant/how-to-make-900-to-2-million-on-coinpot-in-1-yr-a17b28fb3056

wow great article, not sure about the 2 million bit though!
but i can definitely see earnings near the lower end if you are prepared to put a bit of work in - nice bit of extra income in your spare time

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[Mutsuhito]

Hello,

I have a question for the most experts in Coinpot.

If Coinpot was your only way to get some coins, would you convert all the differents coins to just one coin? For instance, to convert doge, litecoin, dash, bitcash to bitcoin. Or would you wait to get every single coin? I am asking because I think that in the exchanges is quite difficult to change those smalls quantities.

Thanks

[lok8nusa]

Hello,

I have a question for the most experts in Coinpot.

If Coinpot was your only way to get some coins, would you convert all the differents coins to just one coin? For instance, to convert doge, litecoin, dash, bitcash to bitcoin. Or would you wait to get every single coin? I am asking because I think that in the exchanges is quite difficult to change those smalls quantities.

Thanks

I'm not an expert.

I convert to BCH and LTC, then move my coin.

[Bigpiggy01]

Hello,

I have a question for the most experts in Coinpot.

If Coinpot was your only way to get some coins, would you convert all the differents coins to just one coin? For instance, to convert doge, litecoin, dash, bitcash to bitcoin. Or would you wait to get every single coin? I am asking because I think that in the exchanges is quite difficult to change those smalls quantities.

Thanks

It really depends on your personal set up. If you have an exchange where you can get better than coinpot rates, not doing so is a bit silly. I withdraw the ones where I have a lot referrals a few times a month and the ones where I don't about once a month.

So for example if you're in the US (or elsewhere that has Gdax/coinbase service) and have a Gdax/Coinbase account, not withdrawing to your email and exchanging there  is a bit silly as you can save network fees etc.

Withdrawing BTC frequently from faucets to a wallet is one sure way to end up paying massive transfer fees as the number of inputs on your outbound transactions are going to increase the size of your transaction, frequently to the point where you can't spend the coins as they'd cost more in fees than their total value.

If you're in an area that does not have coinbase exchange services, converting everything to bch or ltc is very likely to make sense.

I hope this helps 

[Adam556]

Hello,

I have a question for the most experts in Coinpot.

If Coinpot was your only way to get some coins, would you convert all the differents coins to just one coin? For instance, to convert doge, litecoin, dash, bitcash to bitcoin. Or would you wait to get every single coin? I am asking because I think that in the exchanges is quite difficult to change those smalls quantities.

Thanks

It really depends on your personal set up. If you have an exchange where you can get better than coinpot rates, not doing so is a bit silly. I withdraw the ones where I have a lot referrals a few times a month and the ones where I don't about once a month.

So for example if you're in the US (or elsewhere that has Gdax/coinbase service) and have a Gdax/Coinbase account, not withdrawing to your email and exchanging there  is a bit silly as you can save network fees etc.

Withdrawing BTC frequently from faucets to a wallet is one sure way to end up paying massive transfer fees as the number of inputs on your outbound transactions are going to increase the size of your transaction, frequently to the point where you can't spend the coins as they'd cost more in fees than their total value.

If you're in an area that does not have coinbase exchange services, converting everything to bch or ltc is very likely to make sense.

I hope this helps 

Good answer but one thing I don't understand: I convert all my CoinPot coins into bitcoin then withdraw to Coinbase. As long as I'm over the threshold then it's free to do so.

I don't see where the transfer fees come in that you mentioned. Can you explain pls?

[Mutsuhito]

Hello,

I have a question for the most experts in Coinpot.

If Coinpot was your only way to get some coins, would you convert all the differents coins to just one coin? For instance, to convert doge, litecoin, dash, bitcash to bitcoin. Or would you wait to get every single coin? I am asking because I think that in the exchanges is quite difficult to change those smalls quantities.

Thanks

It really depends on your personal set up. If you have an exchange where you can get better than coinpot rates, not doing so is a bit silly. I withdraw the ones where I have a lot referrals a few times a month and the ones where I don't about once a month.

So for example if you're in the US (or elsewhere that has Gdax/coinbase service) and have a Gdax/Coinbase account, not withdrawing to your email and exchanging there  is a bit silly as you can save network fees etc.

Withdrawing BTC frequently from faucets to a wallet is one sure way to end up paying massive transfer fees as the number of inputs on your outbound transactions are going to increase the size of your transaction, frequently to the point where you can't spend the coins as they'd cost more in fees than their total value.

If you're in an area that does not have coinbase exchange services, converting everything to bch or ltc is very likely to make sense.

I hope this helps 

Thanks for your answer.

I don't have any account in Coinbase but I am thinking to do it. Anyway I don't understand which networks fees I can save, I mean. There are just only one fee in Coinpot (for btc). Are you talking about that or are you talking about the fees inside other exchange which are not coinbase?

Do you think is it a good idea withdraw my coins directly to a wallet like JAXX instead of an exchange?

I hope you understand me, I am quite new in crypto-world.

Thanks

[MR2O4]

I love Coinpot. I think it's great, especially if you're new to the crypto world. You have everything you need to get started and all 7 faucets automatically withdraw into Coinpot so there's no need to set up addresses. That said, this is a hot micro wallet so I think you should transfer to your own wallet as soon as you reach the withdrawal limit.

I decided to model out how much you could make 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 at the time. Based on my model you can make as little as $900 or as much as $2 million in 1 year as long as you pay attention to the incentive structure.

https://medium.com/@celanbryant/how-to-make-900-to-2-million-on-coinpot-in-1-yr-a17b28fb3056

Good work, I don't quite understand the min, 1 claim a day numbers though - it seems way too high for btc. Also, I thought that Bit Fun was claims every 3 minutes, not 15.

[coin_curious]

I think they are starting to be slective.

Now that i have a couple of hundred ref there they do not pay anymore. two withdrawals not paid the last two weeks.

I guess there is no use in contacting themeither. never had them reply.

I think .. after you post this .. they gonna pay you ..
 

lol. nope. I get a lot of refs via my own faucet. This was handy toppin gup my faucets. but even though i have maybe 200k satoshi there my last two payouts never came. and yes. i did receive confirmation emails and all that. just never received anything.

[jackchun]

i received a 35000 satoshis of BCH in one time, but seems BCH change its address format and I lost the blocks in its blockchain

[Bigpiggy01]

Hello,

I have a question for the most experts in Coinpot.

If Coinpot was your only way to get some coins, would you convert all the differents coins to just one coin? For instance, to convert doge, litecoin, dash, bitcash to bitcoin. Or would you wait to get every single coin? I am asking because I think that in the exchanges is quite difficult to change those smalls quantities.

Thanks

It really depends on your personal set up. If you have an exchange where you can get better than coinpot rates, not doing so is a bit silly. I withdraw the ones where I have a lot referrals a few times a month and the ones where I don't about once a month.

So for example if you're in the US (or elsewhere that has Gdax/coinbase service) and have a Gdax/Coinbase account, not withdrawing to your email and exchanging there  is a bit silly as you can save network fees etc.

Withdrawing BTC frequently from faucets to a wallet is one sure way to end up paying massive transfer fees as the number of inputs on your outbound transactions are going to increase the size of your transaction, frequently to the point where you can't spend the coins as they'd cost more in fees than their total value.

If you're in an area that does not have coinbase exchange services, converting everything to bch or ltc is very likely to make sense.

I hope this helps 

Good answer but one thing I don't understand: I convert all my CoinPot coins into bitcoin then withdraw to Coinbase. As long as I'm over the threshold then it's free to do so.

I don't see where the transfer fees come in that you mentioned. Can you explain pls?

I meant that using coinbase, you avoid network fees  It make transfers faster for you and you don't build up a ton of tiny inputs in your wallet client.

[Bigpiggy01]

Hello,

I have a question for the most experts in Coinpot.

If Coinpot was your only way to get some coins, would you convert all the differents coins to just one coin? For instance, to convert doge, litecoin, dash, bitcash to bitcoin. Or would you wait to get every single coin? I am asking because I think that in the exchanges is quite difficult to change those smalls quantities.

Thanks

It really depends on your personal set up. If you have an exchange where you can get better than coinpot rates, not doing so is a bit silly. I withdraw the ones where I have a lot referrals a few times a month and the ones where I don't about once a month.

So for example if you're in the US (or elsewhere that has Gdax/coinbase service) and have a Gdax/Coinbase account, not withdrawing to your email and exchanging there  is a bit silly as you can save network fees etc.

Withdrawing BTC frequently from faucets to a wallet is one sure way to end up paying massive transfer fees as the number of inputs on your outbound transactions are going to increase the size of your transaction, frequently to the point where you can't spend the coins as they'd cost more in fees than their total value.

If you're in an area that does not have coinbase exchange services, converting everything to bch or ltc is very likely to make sense.

I hope this helps 

Thanks for your answer.

I don't have any account in Coinbase but I am thinking to do it. Anyway I don't understand which networks fees I can save, I mean. There are just only one fee in Coinpot (for btc). Are you talking about that or are you talking about the fees inside other exchange which are not coinbase?

Do you think is it a good idea withdraw my coins directly to a wallet like JAXX instead of an exchange?

I hope you understand me, I am quite new in crypto-world.

Thanks

Withdrawing btc payouts to a wallet creates a ton of tiny inputs on that wallet. What this does is it will increase the network fee you need to pay to send those coins from that wallet (each input increases the kb size of the transaction which is what the network gets paid for), often to the point where the network fee would end up costing more than what the transaction is worth.

I'd been on hiatus from crypto for a while and claimed around 0.04btc from faucets to my wallet which was an idiotic mistake as current network fees ended up costing me almost 0.02 to send them. Back before I went on hiatus for a while, coins with over 120 confirmations were free to send 

Always be up to date on what's going on or you'll burn your fingers at some point.

[Bigpiggy01]

i received a 35000 satoshis of BCH in one time, but seems BCH change its address format and I lost the blocks in its blockchain

Those are very likely lost. It's a pain to try to recover them and an exchange is unlikely to want the trouble over such a small amount. If you do own the private key to the address they were sent to, you can use the "import private key" function in a wallet like electron and they should show up in it and you can send them to whereever you want them.

[riddy09]

Is there any update with the Bitcoin Cash deposit? I hope Coinpot will enable it sooner. Also, is there a way to send Bitcoin from Coinbase to Coinpot without having huge network fee?

[Adam556]

Hello,

I have a question for the most experts in Coinpot.

If Coinpot was your only way to get some coins, would you convert all the differents coins to just one coin? For instance, to convert doge, litecoin, dash, bitcash to bitcoin. Or would you wait to get every single coin? I am asking because I think that in the exchanges is quite difficult to change those smalls quantities.

Thanks

It really depends on your personal set up. If you have an exchange where you can get better than coinpot rates, not doing so is a bit silly. I withdraw the ones where I have a lot referrals a few times a month and the ones where I don't about once a month.

So for example if you're in the US (or elsewhere that has Gdax/coinbase service) and have a Gdax/Coinbase account, not withdrawing to your email and exchanging there  is a bit silly as you can save network fees etc.

Withdrawing BTC frequently from faucets to a wallet is one sure way to end up paying massive transfer fees as the number of inputs on your outbound transactions are going to increase the size of your transaction, frequently to the point where you can't spend the coins as they'd cost more in fees than their total value.

If you're in an area that does not have coinbase exchange services, converting everything to bch or ltc is very likely to make sense.

I hope this helps 

Good answer but one thing I don't understand: I convert all my CoinPot coins into bitcoin then withdraw to Coinbase. As long as I'm over the threshold then it's free to do so.

I don't see where the transfer fees come in that you mentioned. Can you explain pls?

I meant that using coinbase, you avoid network fees  It make transfers faster for you and you don't build up a ton of tiny inputs in your wallet client.

I get it now, thanks.

[MR2O4]

Is there any update with the Bitcoin Cash deposit? I hope Coinpot will enable it sooner. Also, is there a way to send Bitcoin from Coinbase to Coinpot without having huge network fee?

Coinbase -> GDAX -> Coinpot would be my suggestion.

[riddy09]

Is there any update with the Bitcoin Cash deposit? I hope Coinpot will enable it sooner. Also, is there a way to send Bitcoin from Coinbase to Coinpot without having huge network fee?

Coinbase -> GDAX -> Coinpot would be my suggestion.

I can't create an account in GDAX because my country is not included. Anyways, I noticed the decrease of fee at Coinbase maybe it will get lower somehow.

[Mbrktr13]

Bonusbitcoin and bitfun not working for me now. anyone else having this issue?

[Ludwig Von]

Bonusbitcoin and bitfun not working for me now. anyone else having this issue?

All the coinpot faucets are like drunk camels in the desert for the moment... .

[k00l1]

Bonusbitcoin and bitfun not working for me now. anyone else having this issue?

All the coinpot faucets are like drunk camels in the desert for the moment... .

Same issue none are working

[CatFur]

Bonusbitcoin and bitfun not working for me now. anyone else having this issue?

All the coinpot faucets are like drunk camels in the desert for the moment... .

That's one way to put it  . But I think it's more systematic. For me it started with BitFun, The Moon Cash and Dash seem to go together and then Moon Lite and Doge and later Moon Bit. Bit Fun was OK a while but now seems unavailable again.