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I’ve had a lot of people ask for an update to my original article. Instead of updating the original chart, I wanted to provide you with a calculator for you to use/share/edit. It’s available in GoogleDocs here: Coinpot Faucet Calculator.
The model is very simplistic, but gives you an idea for what you can earn in one year. It then gives you the ability to see how much that would be if prices go up by the end of the year. Finally, it provides a way to see how much the crypto made from one year using Coinpot will be worth based on growth rates like the ones we’ve seen over the past 10 years. (Click here for a snapshot of historical prices from 2013. Bitcoin is up over 4000% while Litecoin is up over 1000%.)
The spreadsheet provides a calculator for each faucet based on current claim rates. The final spreadsheet is a chart (shown below). It provides a summary of all three calculators.
Keep in mind, the calculator only looks at one year. It also does not include the mystery bonus, offer bonus or mining bonus. I wanted to err on the side of extreme caution, so each calculator only assumes one claim per day.
The base rate assumes no referrals, 1 claim per day and an average of 50% loyalty. The mid rate assumes 100 referrals, 1 claim per day and an average of 75% loyalty. The max rate assumes 500 referrals, 1 claim per day and an average of 100% loyalty. Note, the max rate is not a maximum. It is only used as a max case. Theoretically, there are no limits.
I can personally attest to the mid case. I have around 80 active referrals and only make one claim per day. I’m on track to make more than $235, but that’s because the values above don’t include the mystery bonus or Coinpot tokens, which add up. On average, I get around 3000 tokens per day. Again, I wanted to be very conservative here so those tokens are not included.
You can play with a number of scenarios around loyalty and referrals. While I don’t want to dissuade anyone from doing this, I think referral activity is critical. This way, even if you can’t make daily claims, you’ll still have a growing Coinpot. If you don’t get referrals, this isn’t going to payoff. So, I’ve created a contest for the best referral idea.
Now it’s time to look into another one of favorite faucets — Cointiply. This is an amazing faucet. To learn more, read the article: How Much Can You Make On Cointiply’s Bitcoin Faucet? There are so many ways to boost your earnings that I think you can make even more on Cointiply than Coinpot. I’ll keep you posted!
One final word
A reader recently asked me how to convince people that this isn’t a scam. My answer is: you can’t. But you CAN point out that a scam generally requires you to spend money. Coinpot will never ask you for money. The only thing you are required to give them is an email address.
Also, remember that bitcoin is still the world’s fastest growing asset. And, Coinpot is a great way to “get your feet wet” (as one person commented) in the world of cryptocurrency. The learning curve can be steep for some. It’s also a great way to earn bitcoin without having to worry about price fluctuations, providing ID or paying any fees. When the price goes down, the claim is higher. And since I know the price is going back up, it’s an opportunity.
Finally, the goal here is not to make a quick buck. You will be disappointed if that’s your goal. This is not a get rich quick scheme. Put simply, this is a great way to earn small amounts of what I believe will be the next reserve currency for the world. It may not be worth much now, but the goal is to hold onto this asset for the long-term (at least 10 years). All you’re risking is your time. Even if you just do it for one year, you’ll always have it and its value will grow over time.