Coins, Electronic Currency, Faucets, Guide, Selling Cryptocurrency, Tokens

FAQ: “What is the Minimum Withdrawal Amount from Coinpot”; Withdrawing, Converting and Exchanging Faucet Earnings Overview

coinpot

Minimum faucet earnings withdrawals from Coinpot, per currency (zero-fee), per currency are:

Bitcoin: 0.0001 BTC (0.39 United States Dollar)
Bitcoin Cash: 0.0001 BCH (0.013 United States Dollar)
Dogecoin: 50 DOGE  (0.0997 United States Dollar)
Litecoin: 0.002 LTC (0.11 United States Dollar)
DASH: 0.0002 DASH (0.0166 United States Dollar)

*USD prices relevant as of 09.03.2019

Coinpot Token cannot be withdrawn. Tokens have to be converted to any of the five currencies; otherwise, it holds no value outside Coinpot. 100 Coinpot Tokens roughly equate to 0.01 United States Dollar. 

Contrary to popular belief, the cheapest withdrawal method of Coinpot-partnered faucets is normally Bitcoin Cash (sometimes – DASH); not Dogecoin. Doge remains a popular choice due to the Coin‘s liquidity, minimal trade and transfer fees, stable fiat value and instant transaction times. It must be said, however, that Dogecoin withdrawals from Coinpot take a very long time, as “industry standards” go. The delay is due to Coinpot‘s procedures and the funds never take 48 Hours to arrive (as stated in the Terms). Coinpot Dogecoin Wallet-to-any Dogecoin Wallet transfers normally take 14-24 hours on average.

Tip: Delay in withdrawing Doge (or other currencies) negates the possibility to execute price speculation operations on external exchanges. However, if a hypothetical Dogecoin millionaire feels that the Coin should be sold (or bought, for that matter) right now and the opportunity might be lost due to hours-long transfer… Coinpot Tokens’ stable fiat value and zero-fee instant Doge-Token conversion might save the day. Of course, keeping large amounts of any currency in Coinpot is lunacy. So is using an asset unique to Coinpot for high-value speculative operations.

DMYF recommends storing currencies in real wallets, DMYF does not encourage speculation (or any other form of financial decision-making). Monitoring currency exchange rates and earning a few Tokens or Coins on successful exchanges using funds earned from faucets is merely an educational exercise for an aspiring cryptocurrency day trader. Remember: using micro-earnings to acquire transferrable skills and knowledge is the only real value one must expect to gain from spending time solving captcha.  

Anecdotally, a test DASH transfer to Binance from Coinpot was, to our surprise, instant.

Remember: in a volatile market, currency transaction delays might result in significant losses.

Q: Considering the fact that the minimum Coinpot withdrawal amounts are measured in cents, where can they be sold or exchanged?..

A: If a user intends to sell/purchase currencies, when speaking of selling tiny fractions of coins, exchanges such as Binance should be avoided. Minimum trade amounts, commissions and withdraw fees might leave a seller with dust, – small amounts of coins/tokens left over after a transaction, – that is, if a minimum amount of a currency withdrawn from Coinpot will meet the minimum trade amounts at all. For more information, always refer to the Fees and Limits page of an exchange (e. g. Binance Fee Structure).

A simpler way to sell/exchange faucet earnings is using a converter, such as that offered by LuckyGames, – the site’s internal currency converter allows instant conversion and access to 100+ currencies. Most importantly, any featured currency can be used to purchase another featured currency, while traditionally, even altcoin-focused exchanges (e. g. CoinExchange) offer limited purchasing options (=trading pairs). LuckyGames conveniently offers conversions between any of the 100+ supported currencies at market rates, zero deposit fees and minimal withdrawal fees. Transactions are instant and rates are updated every minute.

exchange btc to doge

In practice, that means that a Coinpot user can withdraw his earnings in Dogecoin and convert them to any popular currency in LuckyGames, since minimum conversion amount for Dogecoin is only 100 Doge. Going through an exchange would imply converting Dogecoin to USD/BTC/ETH/LTC (at best), purchasing a currency (IF being able to meet the minimum transaction amount!)… and then face withdraw fees.

At the moment, LuckyGames supports the following currencies: 0x Protocol, aelf, Aeternity, Ardor, Ark, Augur, Bancor, Basic Attention Token (BAT), Bean Cash, Binance Coin, Bitcoin, Bitcoin ABC (BCH), Bitcoin Diamond, Bitcoin Gold, Bitcoin SV, Bitcore, BitShares, BitTorrent, Blackcoin, BURST, Bytecoin, Cardano, Chainlink, Civic, CLAMs, CloakCoin, Crown, DASH, Decentraland, Decred, DigiByte, Dogecoin, Einsteinium, Electroneum, Emercoin, EOS, Ethereum, Ethereum Classic, Feathercoin, FunFair, Gamecredits, GAS, Gifto, Golem, Groestlcoin, Gulden, Holo, Horizen, HyperCash, ICON, Ignis, ION, Komodo, Lisk, Litecoin, Loopring, Monaco, MonaCoie, Monero, Namecoin, Nano, NAVcoin, Neblio, NEM, NEO, Nexus, Novacoin, NXT, OmiseGO, Ontology, Particle, Peercoin, PIVX, Populous, Potcoin, Pundi X, Qtum, Ravencoin, Reddcoin, Ripple, SALT, Siacoin, Status, STEEM, Steem Dollars, Stellar Lumens, STRATIS, SysCoin, Tether, Tron, TrueUSD, Ubiq, VeChain, Verge, Vericoin, Vertcoin, Viacoin, WAVES, WhiteCoin, Zcash, Zcoin and Zilliqa.

Q: Is it possible to quickly sell Coinpot earnings for fiat (USD, EUR…)?

A: It is becoming easier to sell popular Coins using a variety of methods. BCH, DASH, BTC, Dogecoin and DASH can be sold for fiat (PayPal, Payeer, Skrill, Neteller and many more paying systems). For best rates, it is recommended to have a look at an exchange monitor, which compares best rates available at the moment live. Rates and minimums vary; however, at time of posting, an exemplary sale of Dogecoin for USD (Perfect Money) would be possible even with a minimum of 100 Dogecoin.

sell doge for usdSummary:

Although Coinpot is a legitimate service, withdrawals can take time and thus users do not have immediate access to their earnings. It is recommended to store Coins elsewhere, or take advantage of multiple new services offering low exchange rates. Although Coinpot Faucets offer the chance to earn enough Coins to be able to withdraw earnings multiple times a day, doing so would imply a slight conversion cost. Still, holding Coins on Coinpot account is unwise and faucet users should have a plan how to put their earnings to use.

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Coinpot Tokens’s Price Today vs. One Week Ago

coinpottokenpricetoday

PREVIOUSLY ON: Coinpot Token’s Worth in August: Conversion Rates, Fiat Value… Future Price

As Bitcoin Falls as low as 6094.47 USD, and in light of our in-depth analysis based on last week’s data, more so are we interested in Coinpot Token’s Value, Worth and Price.

Conversion: Coinpot Token to:..

Bitcoin Core at the exchange rate of 0.0000000160: 100 Coinpot Tokens would buy us 0.00000160 BTC. (a week ago – 0.00000135฿.)
Bitcoin Cash at the exchange rate of 0.0000001778: 100 Coinpot Tokens would buy us 0.00001778 BCH. (a week ago – 0.00001380 BCH)
Dogecoin: at the exchange rate of 0.0413776707: 100 Coinpot Tokens would buy us 4.13776707 DOGE. (a week ago – 3.41933771 DOGE)
Litecoin: at the exchange rate of 0.0000017325: 100 Coinpot Tokens would buy us 0.00017323 LTC. (a week ago – 0.00012928)
DASH: at the exchange rate of 0.0000005927: 100 Coinpot Tokens would buy us 0.00005927 Duffs (a week ago – 0.0000004724)

We do not believe we need to comment upon the difference in value of an asset, the acquisition of which is automatic.

If you are thinking “fiat”…

Have a plan. Consider low fees: Changelly and EXMO. While EXMO is an exchange, with all its pros and cons, Changelly is good even as a source of information as to how much fiat your Coinpot Token balance is worth.

changely

We will, however, mention that Changelly is an excellent exchange service with a \ transaction fee. A wallet-to-wallet direct exchange will convert anything and everything into fiat.

EXMO is an established cryptocurrency exchange with 0% deposit fees for all five Coinpot currencies.

P. S. By no means are we recommending making any financial decisions. Please contact your financial advisor regarding such matters; DMYF is a portal dedicated to entertainment and education.

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Q&A: How to Convert Coinpot Tokens to Dogecoin?

A: Converting Coinpot tokens to DOGE is the most viable option of Coinpot Tokens withdrawal to an external wallet in order to trade, invest or, through an exchange, convert Coinpot Tokens through Dogecoin to USD, Bitcoin, or any other currency.

Step A: Login to Coinpot.co

Step B: On your Coinpot.co Dashboard…
Coinpot Dashboard Tokens Convert to USD
Step C: Click the Downward Arrow next to “View Token Summary”...
Convert coinpot tokens to
Step D: Click “Convert Coinpot Tokens To”…”
convert coinpot tokens how much is oinpotpot token
Step E: Choose “Dogecoin” from the dropdown menu…
Screen Shot 2018-07-24 at 07.13.34
Step F: Choose the amount of Coinpot Tokens you wish to convert to Dogecoin.

(sidenote: as you can see, today, one Coinpot token is worth 0.02806342 Dogecoin and the Coinpot Token to Doge fee-free conversion rate is 0.0280634233 – not bad, considering how easy it is to earn Coinpot Tokens!)

Step G: Choose the amount you wish to convert, enter your password and click “Convert”!
convert coinpot token to dogecoin convert coinpot token to usd convert coinpot token to bitcoin how much is coinpot token worthStep H: Finally, confirm the conversion by clicking (surprise!) “Confirm conversion”

convert coinpot token to dogecoin
Done!
coinpot tokens how to convert
P. S. The same steps are to be followed should you wish to convert your Coinpot Tokens to Bitcoin, Bitcoin Cash, DASH, or Litecoin.

P. P. S. Want to know how to easily convert Coinpot Tokens to USD, GBP, RUB, EUR or any other fiat currency? Stay tuned!

Important

Faucetgate (or Coingate?) – the hacking scandal.

Well, now that the Oscars are over and Harvey Weinstein is undergoing therapy…

BREAKING NEWS! SHOCK! DRAMA!

About 16 hours ago, Faucethub has released the following:

coinpit hacked, says Faucethub
End of the world, according to Faucethub

Coinpot did not react immediately, about four hours ago they did respond in a calm and polite tone, as we have reported earlier.

Perhaps, they only found out that they were hacked from the message on Faucethub.

A simple Google search will, of course, leave it up to the reader to decide whether Coinpot was indeed hacked or not:
Screen Shot 2018-03-09 at 11.41.41Coinpot hackedCOinpot hacked“A bunch of logins was released” is a really compelling evidence in favour of Coinpot being hacked. Most likely, at least half the users use the same password and login for both Coinpot and Faucethub.

An example of what actually happened (about a month ago):

“It appears that their (Coinpot’s) SSL certificate expired today and they have either reverted back to a self signed certificate automatically or they haven’t fully setup their new one or have not done it correctly.” – https://steemit.com/cryptocurrency/@bitcoinminer25/coinpot-hacked-whats-happening

That was reposted and made (fake)  news:

“I was way off, coinpot was not hacked. The user @vencero shared some links to coinpot and it works fine. I want to apologize for making a post that was misleading and lacked sufficient research on the topic.”

(source: https://steemit.com/cryptocurrency/@bitcoinminer25/coinpot-hacked-whats-happening)

What actually happened this time:

…some services were offline and/or not working as good as others. A simple change of browser and some cookie cleaning solved the problem for us. For the rest, the Moon Faucets, BonusBitcoin and BitFun were operating perfectly and all the balances remained up to date.

Now, if an organisation would want to hack a multicryptocurrency wallet holding a lot of coins, would it go for the coins, or for disrupting login issues to some of the faucets? The remaining question is: why did Faucethub so readily warned its users about Coinpit accounts being hacked, while every second  website featured on Faucethub faucet injects a mining script into your browser, at the very least?

We will keep you posted as more light is shed on the situation.

P  S.

We do recommend you to use individual passwords for faucets and, ideally, create a separate (secondary) e-mail address for those purposes. 2FA is not a bad idea at all either. Also, please do refer to our Helpful Tips section: pop-ups and ads can be the main source of harm to your PCs and they can be killed with fire.

P. P. S.

Faucethub has not yet been reviewed on this website, mainly because our main focus is cryptocurrency investment and trading.

Facethub is a multicurrency walet, exchange, social network, beta-test platform for faucets and a mining portal with a repulsive interface in addition to that. Faucethub is not evil and definitely has its uses, but, unlike Coinpot, it attempts to do everything while excelling at nothing.

Coinpot focuses on improving on what it is doing best. Coinpot’s recent enormous reduction in minimum Bitcoin withdrawal amount and removal of transaction fees was a customer-oriented, intelligent market move and has hardly made any of the wallet’s competition happy.

To be continued.