How is this related to the value of a Coinpot Token, one might ask?
As we previously mentioned in the Coinpot Token Value, Price and Worth series of articles, one possible utility of the Coinpot Token balance is immediate access to acquisition of five currencies: Dogecoin, DASH, Bitcoin Cash, Bitcoin and Litecoin.
As always, we cite the important list of CT conversion terms:
There is NO FEE for conversion
The conversion rate is the CURRENT rate – this is likely to fluctuate during the day
The conversion will be done instantly. The specified amount will be debited from your coinpot tokens pot and the converted amount will be credited to your other coin pot straight away.
Let us calculate how much Bitcoin 100 Coinpot Tokens can buy today.
100 Coinpot Tokens = 0.00000171 BTC (or 171 Satoshi)
0.00000171 BTC = 0.00966162 USD (or roughly $0.01)
100 Coinpot Tokens – $0.01
The value of Coinpot Tokens is tied to fiat. Converting the Tokens to any of the five currencies takes seconds.
Now, an example: imagine if Coinpot Tokens existed last year. On the 15th of November, 1 BTC was worth $7,283.22.
Say a hypothetical Coinpot Token HODLer was meticulously grinding Tokens by visiting each of the seven partnering Coinpot faucets, saving up 1,000,000 Coinpot Tokens (which is not that difficult, as a matter of fact).
Suddenly, our HODLer had a dream… And sold his entire Token balance for BTC. As we remember, the fiat price of a Coinpot Token is stable, so for 1,000,000 Tokens, the hyppthetical HODLer would purchase $100-worth of Bitcoin.
A month later, however, when Bitcoin closed at $17,604,85… The HODLer would possess the same amount of Bitcoin he exchanged his Tokens for, however the USD value of his cryptocurrency would, ehm, significantly increase.
In short: HODLing Coinpot Tokens offers a speculative opportunity applicable to 5 currencies.
(interestingly enough, the Cointiply pseudo-Bitcoin/Dogecoin faucet’s rewards are also fiat-tied, offering similar opportunities, albeit limited by long withdrawal timeframe)
Now, what is the reason for Bitcoin‘s price plummeting is a topic for a separate article, however if the Bitcoin fell in light of the rumours surrounding the Bitcoin Cash fork… Hey, doesn’t Coinpot also feature a BCH balance?..
In any case, isn’t it an interesting time to be a Coinpot Token HODLer?
*Disclaimer: under no circumstance should any form of content published on this website be regarded as financial advice. We are not offering financial advice, we do not encourage or discourage decision-making in relation to investing or management of financial assets. All publications are written for entertainment and education purposes. We describe anecdotal experiences, state subjective opinions, report upon personal observations, quote widely available third-party sources and attempt to answer popular questions to the best of our knowledge and ability. We kindly ask our readers to employ rationality, critical thinking, analytic approach to information processing. Cryptocurrency market as a whole poses multitudes of risks, is full of dishonest operations, widespread false news.