Popular free bitcoin microwallet CoinPot is now publishing daily transaction lists for all supported coins in a bid to add even more transparency to what is already a highly respected service.
The world of bitcoin faucets and microwallets is plagued by accusations of scams, with many people asking whether they are legitimate services or out to defraud users.
While there are undoubtedly some nefarious players in the arena, CoinPot is not one of them. The service, which launched in June 2017, provides a straightforward way of managing faucet claims and instant conversions between coins.
Since July 18, 2018 a new option has appeared on the main page of each supported coin, entitled ‘View recent [coin name] payouts’.
Clicking this will take you to another screen showing all the recent payments that have been made by CoinPot to its users. Here’s an example of what you’ll see:
If you were concerned about whether CoinPot was a scam or legit before, this clearly demonstrates that you shouldn’t be.
Despite what you might read from people who’ve been caught out and banned from CoinPot, the service is 100% trustworthy and pays generous amounts of coin to those who follow the rules.
CoinPot is designed to aggregate faucets claims from seven connected faucets, namely:
Since then, the service has expanded to include browser mining, an hourly lottery and a hi-lo wagering game.
It has also introduced ‘CoinPot Tokens’ which are awarded each time a user claims from one of the faucets above. This is a neat way of adding an extra incentive for people to keep on claiming.
These can either be spent on the lottery or converted into one of the supported coins. The owners of CoinPot have also hinted that they may be able to be redeemed against goods and services at a later date.
In case you’re wondering what a microwallet is, here’s a quick explainer: A microwallet is a repository for the tiny amounts of Satoshi (fractions of bitcoin) you collect with each bitcoin faucet claim.
Rather than having to wait for these to add up on individual faucets you can use a microwallet to group them together so you can secure a usable amount sooner.
By usable, we mean a quantity of coin that can be withdrawn to your wallet and then spent or traded. An example of a wallet for this purpose is Coinbase, one of the most popular services out there.
If you sign up for a free account and buy or sell more than $100 of coins you’ll earn an extra $10 worth of bitcoin. Full disclosure: So will we!
There are plenty of guides on this site to get you started with faucets so have a look around and enjoy. If there’s anything you like to ask, please drop us an email or fill in the contact form and we’ll respond as soon as possible.
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