Most people tend to forget cryptocurrency faucets are still a thing in 2017. Although very popular years ago, the concept of a faucet has lost its appeal in recent years.CoinPot is one of the few companies which still tries to provide this service in a meaningful manner. The platform recently added support for both Bitcoin Cash and DASH. An interesting choice, considering how both currencies have seen major pumps as of late.
Running a cryptocurrency faucet system is not easy by any means. This is mainly why Coinpot is both a microwallet and faucet service in one. The platform focuses on a few different altcoins and Bitcoin first and foremost. In the latest development update, this list has been expanded upon by focusing on Bitcoin Cash and Dash. Giving users more options to earn money in a semi-passive manner is never a bad thing.
An Interesting Update From CoinPot
To avoid confusion, Bitcoin is now labeled as Bitcoin Core. Many people seem to confuse BCH with the actual Bitcoin these days. Then again, it is good to make things more clear now and then. A smart decision by the CoinPot team, that much is certain. Users can claim small amounts of all supported currencies every few minutes. This money will be deposited into the CoinPot wallet over time. Money can be withdrawn once a certain threshold has been met for individual coins.
Another new addition is how currencies can be exchanged through the Dashboard. This applies to all supported currencies. Converting everything into one currency will help users withdraw money quicker and in a cheaper manner. No faucets have been added for Dash and Bitcoin Cash yet. Not entirely surprising, as it is doubtful either currency even has a working faucet platform right now. Users can convert their other balances to these currencies, though.
It will be interesting to see how things will play out in this regard. Most cryptocurrencies can still benefit from faucet services. Unfortunately, there is always a need for donations and other financial support to keep things going. Otherwise, the faucets dry up pretty quickly, which is rather annoying. CoinPot is certainly doing something right, as many people like their service. In fact, it is a great way to introduce people to the different cryptocurrencies in existence today.
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