A quick calculation of the value of a Coinpot Token, using the Dogecoin-USD method of estimation.
100 Coinpot Tokens convert to 2.06457695 Dogecoin.
1000 Dogecoin sell for $4.64
The USD value of 100 Coinpot Tokens = $0.00957963
* the calculation is a :”here and now” value.
* the calculation does not involve possible transaction, deposit, withdrawal and transfer fees applicable outside Coinpot)
* the calculation is based on Dogecoin and USD; meaning, a Bitcoin and JPY value of a Coinpot Token might differ!
* A month ago, one could purchase almost double the amount of Doge with 100 Coinpot Tokens (a sign of strenghening Doge; not of devaluing Token!)
* After observing the value of Coinpot Tokens for a month, we cautiously conclude that
– The value of a Coinpot Token is relatively static
– The value of a Coinpot Token is strongly tied to fiat, rather than cryptos
– Coinpot Tokens’ conversion rates react to market fluctuations quite promptly, but fail to predict some trends
Q&A (yes, some questions are for real):
Q: “Is Coinpot tokens real money?”
A: Depending on your defenition of “real” and “money”. On a serious note, – no, Coinpot Tokens are even further from fiat than cryptocurrencies. However, Coinpot Tokens represent a financial asset, thus, can be “made” into “real money” or fiat very quickly and automatically.
Unfortunately, Coinpot Tokens have no value on their own outside the Coinpot multicurrency wallet system.
So, – similar to “real money”, Coinpot Tokens can theoretically be used to keep one’s savings in (this is, of course, a joke), but cannot be used to pay for goods in a shop (just yet).
Q: “How much are Coinpot Tokens worth?
A: In fiat? Right now? Roughly? You can calculate how much is a Bitcoin in your country’s currency and then see how many Bitcoin does your Coinpot Token balance convert to. Same applies to Bitcoin Cash, DASH etc.
Q: What is Coinpot Token for?
A: Whatever it can be used for. It can either be gambled away (not recommended), saved, bought or sold. It can also be used to monitor your (or your referrals’) faucet activity, it can be viewed as a bonus for visiting “less profitable” (not true!) faucets, such as MoonbitcoinCash,MoonDASH, or MoonLitecoin, or an encouragement to click the three-minute-per-cl;aim satoshi BitFun to death. Since 3 Coinpot Tokens per faucet visit are constant, the Tokens can be used for achieving faster currency withdrawals from Coinpot (keeping your savings there is not recommended!) via conversion.
Coinpot Tokens also have a somewhat “hidden” added value of granting you an easy access to purchase a bit more of every currency Coinpot operates in. Of course, this is relevant for large numbers and those willing to speculate on market prices only. Though remember, = a month ago, double the amount of Doge could be bought for the same amount of Coinpot Tokens.
What the Tokens definitely should be used for is a reminder that, guys, there are seven Faucets out there, every one deserves at least a once-a-day visit.
If you witnessed a Dogecoin price hike (the USD Dogecoin price doubled!) and think that a similar phenomenon can’t happen to Litecoin, or DASH, you are gravely mistaken. The Dogecoin surprise was a “wtf” moment because the supply of Doge is unlimited. While the supply of Litecoin, Bitcoin Cash and DASH is not. Ergo, should similar, liquidity-related news hit the market, but in connection with these three currencies, their value will not stop at a 2x increase. Which will make you regret neglecting those faucets. 🙂