Free Mining of Cryptocurrency Using Coinpot: The Bitcoin Faucet Experiment (2)

How to Start Making Claims

You will need an email address and a computer. You will never need any ID, payment information, or password information to do a faucet.

This is perhaps the most important aspect of this experiment. It gives anyone with an email address the ability to earn/mine crypto, just like Bitcoin miners were doing some years ago.

In one year the value of the Bitcoin you have may be 10 times what it is today. It could also be 10 times less, but at least you don’t lose any money if you “mined” your Bitcoin from a Bitcoin faucet. In other words, the value of what you hold may be small today, but the value of cryptos is going up and if the trend continues, this is a way for you (for everyone) to invest even if you don’t have the money. If you don’t have access to your own computer, go to a computer lab or a library. Use your phone. It’s also a great way to hedge against those dollars in your savings. As the value of cryptocurrencies goes up, it will be against the dollar.

These are the steps you will go through at a high level:

Step 1: Sign up for a Coinpot MicroWallet. This is a where each faucet will send your “claim”. When you reach your withdrawal minimum, you will want to move your crypto currency from your software wallet (CoinPot) to another wallet.

What is CoinPot?

CoinPot is a cryptocurrency microwallet, designed to collect and combine faucet pay-outs and earnings which includes faucet claims, referral commission, dice winnings and survey/offer earnings from a number of different faucets/sources.

How does CoinPot work?

CoinPot supports multiple currencies: bitcoin, dogecoin and litecoin initially Withdrawal options include XAPO, Faucet Hub, Faucet System and direct to your wallet via the blockchain. (NOTE: Each of these options has different withdrawal thresholds and some may incur a withdrawal fee) 

Other benefits of CoinPot are: 
1) Increased security - optional 2FA 
2) Instant conversion between your coins

Step 2: Sign up with each of the following faucets faucet below. Each one of these faucets is already connected to your Coinpot MicroWallet. Sign up with the same email address and Password you used to sign up for your Coinpot, they are automatically connected. Play around with each faucet a bit to get a feel for how this works.

Below are the faucets connected to Coinpot Wallet. Click on each and sign up to start earning.

1. Moon Bitcoin 
2. Moon Dodgecoin 
3. Moon Litecoin 
4. Moon BitcoinCash
5. MoonDash 
6. Bit Fun 
7. Bonus Bitcoin

How each of the above operates is explained in detailed separately. Each faucet has its own incentive structure. In general there are two different structures. Your goal is to maximize the claim by paying attention to rewards:

Step 3: Optimize your claim amount on each faucet. The performance of each faucet have been modeled out

Free Mining of Cryptocurrency Using Coinpot: The Bitcoin Faucet Experiment (1)

Use Coinpot to Earn Crypto For Free

Bitcoin Faucets are a great way to obtain cryptocurrency if you don’t have the funds to invest in Bitcoin, but still want to invest in this growing asset class. Who knows what Bitcoin will be worth in 7 years.

Mine Bitcoin Directly From Your Computer

You don’t have to be wealthy to invest in crypto. You can mine Bitcoin and other cryptocurrencies through what are referred to as “Bitcoin Faucets”. To make a “claim” on one of these Bitcoin faucets all you have to do is register and follow the claim instructions. Claim instructions generally tell you to click on a captcha that proves you are human to make the claim.

What are Bitcoin Faucets?

A “faucet” is a term used in the cryptocurrency world. It means a place where you can go to claim a small amount of crypto (like 1% of $.01). There are hundreds of faucets out there. Some are scams, some are real.

At first I (like many others) dismissed this as a Ponzi scheme. It isn’t. You are investing your time, nothing else. Faucet owners get paid by advertisers and in exchange they give you a portion of those earnings. I’ve been doing it for about a month and have made a successful withdrawal of coins to my wallet. I’ve also researched these faucets and they are highly reputable.

All you need to sign up for the faucet is an email address and a computer. Never give your ID, address or any payment information to any faucet

Bitcoin Faucet Claims Are Small

Early investors of Bitcoin paid just $.06 for a Bitcoin. A $100 investment seven years ago would be worth $28 million today. One year later at $3.19, $100 would have bought you 31 Bitcoin. In 2013, Bitcoin really took off to $724. Six months ago, in June 2017, no one thought Bitcoin could go much higher than $2,500. At the end of 2017, Bitcoin was trading for $13,170.

No wonder people are fascinated with Bitcoin as an investment.

The biggest complaint about Bitcoin faucets is that “the amount of the claim is small.” If you are already wealthy or got in on cryptocurrency 7 years ago, I can understand your concern. Bitcoin faucets make small claims, but you never know where Bitcoin will be trading in 7 years. Still, this is a valid concern, especially for people with bills to pay and no extra time on their hands.

The truth about rising concerns:

1) The amount is small, but there are ways to maximize your earnings. Each faucet, like a game, has a few secrets that can greatly increase your earnings, sometimes by 500%. I’ll explain the key to maximizing your claim amount for each faucet in a moment.

2) You can’t make a decent income by yourself, you need referrals. Those referrals must be users as well. It is not enough to simply give someone else your referral code. You also need to help them optimize the claim amount.

3) Bitcoin is the front-runner and the fastest growing asset class in the world. Bitcoin is highly volatile and tends to go up over time.

4) These faucets give out more than Bitcoin. They also give out Bitcoin Cash, Litecoin, Dash and Dogecoin. You are actually earning a diversified set of cryptos. Each one of these is on the top 50 list of cryptos by market capitalization, which is to say they have a lot of growth potential.

5) Finally, think of your daily claim potential as you would interest on savings. The amount may be small, but it has the potential to add up over time. Also keep in mind, inflation is going up.

The value of a dollar in savings may not be worth what it is today. Much of the interest in Bitcoin is due to a loss of interest in the US dollar.

What will I be compensated for this experiment?

You will be compensated in the crypto that you earn.

Why only 100?

In my research model you only need 100 referrals to optimize your results. Of course, you are always welcome to do more. As you grow your referral base, you may want to limit the number of people as well.

You need to be able to answer questions and help each person, regardless of their level of understanding. In fact, if they know how to use faucets already you can show them the tips I provide, but you may not want them in your 100 referral group. Not that they won’t be a good referral, but because the goal of the experiment is to help those who can benefit from this the most. This is social entrepreneurship at its best. You benefit the most from helping those that need it the most.

Click Here for further details