Everything
You Need To Know About CoinPot
CoinPot is a multi-crypto
currency micro wallet that helps you transfer your funds to your personal
crypto wallet without any charges. A micro wallet is a wallet that holds
smaller amounts of crypto currency. Once you reach a certain limit, it will
transfer your funds to your real crypto wallet. Why not send funds directly to
your crypto wallet? This is because if you were to do so, the fees would cancel
out the entire profit that you earned from the faucet. This is because of the miner’s fees that are charged to
users. These fees are charged to incentivize bitcoin miners to confirm
Bitcoin transactions.
The
CoinPot micro wallet holds crypto currencies such as Bitcoin Core, Bitcoin Cash, Dash, Litecoin, and even Dogecoin. Their
payout is every 7 days and is partnered with several high-paying faucets. One
of the features of their microwallet is the conversion system. Through CoinPot,
you can convert your coins into a completely different coin. For example, you
can convert Bitcoin Core to Dash, Bitcoin Cash, Litecoin, Dogecoin, etc.
Unfortunately,
there is no information in regards to who started CoinPot and why they started
it. Despite it being normal for these kinds of platforms, some consider it to
be a red flag. There are two things that a company must have if they want to be
trusted: honesty and transparency. CoinPot has neither but don’t overlook it
just yet, the platform still has a lot of pros to go through.
CoinPot
Tokens
In March 2018, the
microwallet service announced the creation of
CoinPot tokens, a new added value for CoinPot users. Alongside
their already accepted coins, CoinPot is a token and in their announcement,
they called it an “asset”. There are three ways to obtain these “assets”:
- Use a supported
faucet –
Every time you claim from one of their supported faucets, you will be
awarded 3 CoinPot tokens. You will also earn 1 CoinPot token for each
claim made by your referrals.
- Mine them – Just
like other cryptocurrencies, you can mine for these tokens in a similar
way (using a CoinPot miner).
- Convert your
coins – As said earlier, CoinPot has a conversion system that allows
users to convert their coins. The same applies to CoinPot tokens.
It’s pretty cool that this microwallet has its own tokens, right?
But what are they used for? Basically, part of the value of the token depends
on what we can spend it on. When it comes to CoinPot tokens, there are several
things you can do with them:
- Win the hourly
lottery –
When coinPot tokens were announced, the platform also announced that there
was going to be an hourly lottery where you could win tokens. You can buy
a ticket using these tokens and those tokens will then be part of the
grand prize (as well as 1,000 tokens donated by CoinPot).
- Convert your
coins –
Using the conversion system, you can also convert your CoinPot tokens into
another coin of your choice.
- You can hold
them –
Although they’re not high-priced at all, who knows? It could spike in
price soon. They’re very easy to obtain so there’s little to lose if you
hold them.
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