As the site is offline (good start!), the information we have about this intermediate wallet is from CoinPot.co partners - Moon Bitcoin, Moon Dogecoin, Moon Litecoin, Bonus Bitcoin and Bit Fun.
Bonus Bitcoin states:
"As of 6th July 2017 ALL payments from Bonus Bitcoin are made instantly and directly into your CoinPot account. This includes faucet claims, referral commission, dice winnings and survey/offer earnings.
How does CoinPot work?CoinPot is a brand new cryptocurrency microwallet, designed to collect and combine faucet payouts and earnings from a number of different faucets/sources - such as Bonus Bitcoin.
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 (COMING SOON!)
What happened to my previous earnings?Don't worry, your account balance and all your previous transactions have been transfered over to CoinPot automatically. You simply need to manage these earning via CoinPot from now on.
From now, Bonus Bitcoin will show your total CoinPot bitcoin balance - including Bonus Bitcoin earnings combined with those from other sources."
A cryptocurrency microwallet makes a direct connection between faucets and users' wallets like Blockchain, XAPO or other wallets defined by users.
As the withdrawal options include Faucet HUB and Faucet System, which are cryptocurrency microwallets, CoinPot.co is, in fact, an intermediate wallet that might add additional fees as Bonus Bitcoin states.
What brings CoinPot.co in its launching form?
- For faucet owners: the possibility to implement a single API instead of implementing an API for XAPO, an API for Faucet HUB, another one for Faucet System, etc.
- For cryptocurrency users: higher fees
Moon Bitcoin, Moon Dogecoin, Moon Litecoin have announced the following:
"If you are happy to continue receiving free weekly payouts direct to your wallet as before then YOU DO NOT NEED TO DO ANYTHING"
meaning you don't need a CoinPot.co account for receiving your earnings.