What are CoinPot tokens?

[Adam556]

I just went to convert my bitcoin cash into bitcoin core on CoinPot and kind of did it without looking (because bitcoin core is usually automatically selected) and hit convert, only to discover that it had been converted into a new option called 'CoinPot Tokens'.

I've never seen this before and I can't find a balance/other information about this anywhere on CoinPot.

Has anyone else seen this or know what it is?

[Kam9090]

I JUST saw this too!!! It looks like it's a new strategy for coinpot to get some new users, and excited old ones! Not gonna lie I was excited when I saw this new way to earn money. Doesn't look like they have an actual faucet out yet (I'll be looking), but you can browser mine it to earn your first few. Might be a good idea to get a few early for a great conversion rate! In the future, they said that you will be able to exchange the coins regularly between currencies, and also for giftcards etc.

[grahamlyons]

From https://coinpot.co/news/earn-mine-and-win-coinpot-tokens

Earn, mine, and win CoinPot Tokens!

Today (28th March 2018) we are excited to announce a new fun way to earn, mine and win on our site...CoinPot Tokens! CoinPot Tokens are a new type of "asset" that sits alongside our existing coins - Bitcoin (Core/Cash), Litecoin, Dogecoin and Dash.

HOW CAN I GET COINPOT TOKENS?
There are several ways that you can increase your CoinPot Tokens balance...
FAUCETS: Use any of our supported faucets - for each individual faucet claim you will earn 3 CoinPot Tokens, and for each claim made by any of your referrals you will earn 1 CoinPot Token.
MINING: You can mine CoinPot Tokens in exactly the same way that you can mine any of our other coins directly in your browser
CONVERT: You can use our usual conversion system to convert from your other coins to CoinPot Tokens - the exchange rate will fluctuate similar to how it does with the other coins.

WHAT CAN I USE COINPOT TOKENS FOR?
There are also several things that you can spend your CoinPot Tokens balance on...
CONVERT: You can use our usual conversion system to convert your CoinPot Tokens into any of our other coins - the exchange rate will fluctuate similar to how it does with the other coins.
LOTTERY: We have created a new hourly lottery where you can win more CoinPot Tokens. The prizes given out each hour include all the tokens used to buy tickets plus an extra 1000 tokens donated by CoinPot to each round! AND MORE! We are working on more ways for you to use your CoinPot Tokens in the future, including being able to exchange them for gifts/gift cards and more games like the lottery!

[Adam556]

From https://coinpot.co/news/earn-mine-and-win-coinpot-tokens

Earn, mine, and win CoinPot Tokens!

Today (28th March 2018) we are excited to announce a new fun way to earn, mine and win on our site...CoinPot Tokens! CoinPot Tokens are a new type of "asset" that sits alongside our existing coins - Bitcoin (Core/Cash), Litecoin, Dogecoin and Dash.

HOW CAN I GET COINPOT TOKENS?
There are several ways that you can increase your CoinPot Tokens balance...
FAUCETS: Use any of our supported faucets - for each individual faucet claim you will earn 3 CoinPot Tokens, and for each claim made by any of your referrals you will earn 1 CoinPot Token.
MINING: You can mine CoinPot Tokens in exactly the same way that you can mine any of our other coins directly in your browser
CONVERT: You can use our usual conversion system to convert from your other coins to CoinPot Tokens - the exchange rate will fluctuate similar to how it does with the other coins.

WHAT CAN I USE COINPOT TOKENS FOR?
There are also several things that you can spend your CoinPot Tokens balance on...
CONVERT: You can use our usual conversion system to convert your CoinPot Tokens into any of our other coins - the exchange rate will fluctuate similar to how it does with the other coins.
LOTTERY: We have created a new hourly lottery where you can win more CoinPot Tokens. The prizes given out each hour include all the tokens used to buy tickets plus an extra 1000 tokens donated by CoinPot to each round! AND MORE! We are working on more ways for you to use your CoinPot Tokens in the future, including being able to exchange them for gifts/gift cards and more games like the lottery!

Thanks for posting this - it wasn't up when I made my original post - looks very interesting!

[jefharris]

I had the same experience as Adam556, also happy to see another way to collect coins.

[CappuccinoCoin]

What a great new Idea... I have seen it too in my CoinPot today 

[LTU_btc]

It's great to see Coinpot owner adding new things to his websites. And these Coinpot Tokens is something similar to reward points on Freebitco.in. We get these tokens by claiming from faucets, by mining it or getting from referrals.
Hourly lottery is also interesting thing. But it's strange that we can buy tickets only with Coinpot tokens, we can't spend other coins there. And it's not possible to buy custom amount of tickets - only 1 and 10. And they are planning to add some more games, gifts, gift cards for Coinpot tokens. But I would be happy if instead of adding new features to website they finally would hire some support staff.

[speedup-faucet.com]

It's great to see Coinpot owner adding new things to his websites. And these Coinpot Tokens is something similar to reward points on Freebitco.in. We get these tokens by claiming from faucets, by mining it or getting from referrals.
Hourly lottery is also interesting thing. But it's strange that we can buy tickets only with Coinpot tokens, we can't spend other coins there. And it's not possible to buy custom amount of tickets - only 1 and 10. And they are planning to add some more games, gifts, gift cards for Coinpot tokens. But I would be happy if instead of adding new features to website they finally would hire some support staff.

You can convert other coins into coinpot tokens and then use it to buy tickets.

[LTU_btc]

It's great to see Coinpot owner adding new things to his websites. And these Coinpot Tokens is something similar to reward points on Freebitco.in. We get these tokens by claiming from faucets, by mining it or getting from referrals.
Hourly lottery is also interesting thing. But it's strange that we can buy tickets only with Coinpot tokens, we can't spend other coins there. And it's not possible to buy custom amount of tickets - only 1 and 10. And they are planning to add some more games, gifts, gift cards for Coinpot tokens. But I would be happy if instead of adding new features to website they finally would hire some support staff.

You can convert other coins into coinpot tokens and then use it to buy tickets.

Yeah, I know that, but I'm interested why it's not possible to buy lottery tickets directly with these coins without converting it into Coinpot tokens. Anyway, it's not a problem, because there are no conversion fee on Coinpot.

[bitcoinblog]

Wonderful idea for increasing features in future.

Coinpot is really growing with good ideas. Token can be used for many purposes in future features. Hope something more interesting we will see in future.

Good luck to Coinpot team. Best of Luck

[eliascarvalho1101]

Olá todos,

Só sei que estou guardando com carinho meus tokens coinpot. Achei excelente a ideia deles, torcer para valer uns trocos no futuro, Abraço todos...

[ShayD]

I like this faucet network, absolutely my most trusted favorite.  They have it on the ball and if you do have a question that cannot be figured out easily on forums or just google searching, they will go out of their way to answer you, I promise. They must get HAMMERED with dumb questions, so many users around that it's got to be thousands a day. I have a hard time keeping up with 200 emails a day, much less a crypto faucet network business with scammers, hackers, currency changes, new coins, transfers and all the other crap they have to deal with that we don't think about.

I also don't know that we will ever see a posted value to the CoinPot token. It's just not good for business when you have faucets to post the FIAT price everywhere. Exodus wallet has the value of your entire balance and individual coins with the click of a button however, faucets are different. What if, after you were brand new faucet claimer and after a few days, saw what we all know about the actual $$$ amount when just starting "coin-collecting?" A lot of us wouldn't be here months later had we saw how much our holdings were worth then. Most people don't think about a year from now or even 2, 3, 5 years ahead when our holdings have appreciated into something substantial. Nope. It's not good to blow out the newbies immediately letting them know they almost collected $0.02 (2 cents USD) in their first full week visiting faucet after faucet, popup after popup and ad after ad.

I like the token blind, at this point because new ideas (like this token) aren't free to roll out and the token can be adjusted as the business needs to get the token on it's feet.   Well done, CoinPot.  

[Adam556]

I like this faucet network, absolutely my most trusted favorite.  They have it on the ball and if you do have a question that cannot be figured out easily on forums or just google searching, they will go out of their way to answer you, I promise. They must get HAMMERED with dumb questions, so many users around that it's got to be thousands a day. I have a hard time keeping up with 200 emails a day, much less a crypto faucet network business with scammers, hackers, currency changes, new coins, transfers and all the other crap they have to deal with that we don't think about.

I also don't know that we will ever see a posted value to the CoinPot token. It's just not good for business when you have faucets to post the FIAT price everywhere. Exodus wallet has the value of your entire balance and individual coins with the click of a button however, faucets are different. What if, after you were brand new faucet claimer and after a few days, saw what we all know about the actual $$$ amount when just starting "coin-collecting?" A lot of us wouldn't be here months later had we saw how much our holdings were worth then. Most people don't think about a year from now or even 2, 3, 5 years ahead when our holdings have appreciated into something substantial. Nope. It's not good to blow out the newbies immediately letting them know they almost collected $0.02 (2 cents USD) in their first full week visiting faucet after faucet, popup after popup and ad after ad.

I like the token blind, at this point because new ideas (like this token) aren't free to roll out and the token can be adjusted as the business needs to get the token on it's feet.   Well done, CoinPot.  

I totally agree with this post, which makes some very good points. Re people not thinking about the future - it's so true.

I find that when the bitcoin price slums the number of referrals claiming slumps also and vice versa. People should hit the claims even harder when the price is lower so they get more sats for each claim. Then (hopefully) the price will go back up again and they'll be very happy!

[reveur]

thats great news! glad to see coinpot evolving since faucethub and their greedy owners decided to be another ripoff microwallet... Coinpot tokens ftw! xD

[panthera68]

Great to see this. I m so interested what will happend with this later. Half i will exchange and half leave on hold

[jakeshadows27]

im newbie in using coinpot im curious to coinpot token how can exchange it or their has value already ? how much the value each token?

[Adam556]

im newbie in using coinpot im curious to coinpot token how can exchange it or their has value already ? how much the value each token?

You can exchange it instantly on site for any of the supported coins (Bitcoin Core, Bitcoin Cash, Litecoin, Dash or Doge) or use it to buy lottery tickets or play the new hi-lo game.

At the time of writing a crude exchange rate is: one token is worth slightly more than one Satoshi.

[dadabosade67]

Is Coinpot token an ERC20 token? I can't find any information about it on ethplorer

[creahui]

coinpot token is really great. I can convert it to btc, as if I earn another bonus

[ayuwolle]

Is Coinpot token an ERC20 token? I can't find any information about it on ethplorer

No, it is a reward you get from coinpot for claiming on their faucets. Each claim gives you 3 tokens. I collect them and convert them to btc. Atm the exchange rate is 1 token=1,06 Satoshis.