QoinProWith home mining of cryptocurrencies pretty much dead, unless you’ve got access to free or very cheap electricity, what can the Bitcoin and Altcoin enthusiast do to earn some free coins?

Faucets have always provided a means for getting meagre amounts of coin but they’ve required your time to click buttons or do some action before you get rewarded. And when I say meagre, rewards are in the fractions of a $0.01 (cent) range. Still, if you have the time and the inclination, you can play severa faucets during your online hours and hopefully start building small holdings in various altcoins.

You can then either sell what you’ve earned on some of the exchanges or try your hand at day trading in the hopes of boosting your profits.

QoinPro is a newish faucet. They’ve been around for about a year in Beta release but they’re now accepting new members. What sets this operation apart are two things:

You don’t have to log in and click anything to earn coins (in fact, all you have to do is sign up)

They give you 12 coins daily (actually, it’s fractions of a coin but you are getting something of the best coins out there).

Being Realistic

Simply signing up won’t get you enough coin to do anything meaningful with. Taking Bitcoin as an example, your signup bonus is 0.00000250 BTC ($0.000675 with 1 BTC being worth $270). Each day, your account will accrue 0.00000002630 BTC.

To put that in context, if you were to receive a year’s worth of payments, that would amount to 0.0000095995 BTC. Added to your signup bonus, that gives a figure of 0.0000120995 BTC ($0.003266865 at a USD/BTC exchange rate of $270). So less than a third of a cent after 1 year.

You can withdraw your coins any time you want, but the transaction fee is 0.0001 BTC which is 8 times the amount of the coin you’d have accrued.

So what’s the point?

If you simply sign up, none. Where this faucet comes into its own is with its referral program. For each person who signs up under you, you get a percentage of their daily earnings – they’s still get their 0.00000002630 BTC per day, but you’d also get a percentage of that amount added to your account. The percentage rises the more who sign up under you.

For your first signup, you get 7.5% (0.0000000019725 BTC). On your third signup, that rises to 9% (0.000000002367 BTC). And by the time you get to your 10th signup, you’re earning 12% (0.000000003156 BTC) per referral. So, with 10 people under you, your account would be earning an additional 0.00000003156 BTC per day (total per day: 0.00000005786 BTC).

But, this program pays 7 levels deep, and for each additional level you also get a percentage, starting at 5% for each level 2 signup, 3% for each level 3 signup and 1.5% for level 4 signups.

Here’s a chart showing the referral percentages:

QoinPro Referral Percentages

It’s when these levels start filling that your earnings will start to rise sharply, so this is a system you need to promote. It’s a waste of time if you’re just going to sit on your hands.

Isn’t This Just Another Ponzi Scheme?

Yes, it is. However, since new members are not paying any fees to join, there’s nothing to lose. You simply sign up for free and promote the system however you want. It doesn’t require any daily input of your time to click buttons and such. And it gives free money; now much depends on how well you promote it.

Where Do The Coins Come From?

No idea. There’s no info on the site about this. Maybe they generate coins through mining and divvy them out to members.

Is It Worth Your Time?

Potentially, yes. As I said above, you need to promote this program if you want to make any substantial amounts of coin.

As an example, let’s say you can only sign up two people, and that person can only sign up 2 people themselves, and so on. And looking only 4 levels deep, because referral percentages for only those first 4 levels are known, here’s what you have:

# Referrals Percentage Bonus BTC
You 0.00000002630
Level 1 2 7.5% 0.000000003945
Level 2 4 5% 0.00000000526
Level 3 8 3% 0.000000006312
Level 4 16 1.5% 0.000000006312
Total 0.000000048129

Here’s an example where 3 people sign up per person per level:

# Referrals Percentage Bonus BTC
You 0.00000002630
Level 1 3 9% 0.000000007101
Level 2 9 6% 0.000000014202
Level 3 27 3.5% 0.0000000248535
Level 4 81 1.7% 0.0000000362151
Total 0.0000001086716

…and this example is where 10 people sign up per person per level:

# Referrals Percentage Bonus BTC
You 0.00000002630
Level 1 10 12% 0.00000003156
Level 2 100 8% 0.0000002104
Level 3 1000 4.5% 0.0000011835
Level 4 10000 2.2% 0.000005786
Total 0.00000723776

…and, finally, where 25 people sign up per person per level:

# Referrals Percentage Bonus BTC
You 0.00000002630
Level 1 25 13.5% 0.0000000887625
Level 2 625 9% 0.000001479375
Level 3 15625 5% 0.000020546875
Level 4 390625 2.5% 0.0002568359375
Total 0.00027897725

So, to start making “decent” money, you need to have a referral tree like the last table above. Assuming all those people in your tree stayed for a year, you’d earn about 0.1 BTC.

Is that realistic?

Only you can decide. I’m in myself as it’s completely passive income. It all depends on how those who sign up under you are at getting signups themselves. You could get someone who can’t sign anyone up or you could get someone who can sign up 1,000 people.

QoinPro have said they intend to increase the daily amounts earned each day and that other bonuses may be added.

It’s a lottery (with a free ticket) but if you’re not in, you can’t win!

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Filed under: Crypto-Currencies