A Review of CoinAd

Author's note: This article is part of an ongoing blog about my adventures in the world of alternate currencies.

CoinAd used to be a faucet website where you could earn a tiny amount of Bitcoin by visiting it once every twenty-four hours. If you registered an account, then you could visit the site and request Bitcoin once every hour.

Recently CoinAd decided to take off in a new direction. It is now a site where you can get paid for viewing web pages. It is similar to BitVisitor in that respect. However, while BitVisitor requires a five minute view of each site, CoinAd only requires views that last on average ten to twenty seconds. The longest view time an advertiser can purchase at this time is 120 seconds, or two minutes. Another difference is that BitVisitor has more sites available to visit in one day with the pay per site ranging from 8 to 48 or more uBTC. I have never actually counted the number of sites which can be visited in one day, but I think it's around fifteen. Most of them pay on the low end. CoinAd at this time only has three to five sites available to view each day.

At first glance, there doesn't seem to be a whole lot on CoinAd, mainly because the number of websites to visit is so small. However, this appearance can be misleading because it takes such a short time to get through all the ads since they typically only last for ten or twenty seconds. The pay per ad is much higher than it is on BitVisitor. This morning I viewed five websites for ten seconds and each one paid 40 uBTC for a total of 200 uBTC. For just under a minute of ad viewing this is a very good payout. BitVisitor, on the other hand only pays 8 to 48 (sometimes 56, rarely more) uBTC for spending five entire minutes on one site. It can easily take over an hour to accumulate the minimum amount (100 uBTC) to get a payout. If BitVisitor pays 40 uBTC for a website view, that is still less in terms of time than what CoinAd pays when it offers 40 uBTC for a ten second view. You have to spend 1/30 of the time on CoinAd that you would have to spend on BitVisitor for the same payment.

When CoinAd can attract more advertisers, to the point where one can view ten to twenty ads a day, and where new ads are appearing at different times during the day, it will become a great website for people seeking to easily earn some Bitcoin. The question that remains to be seen is whether or not advertisers will find it to be effective. It would seem again at first glance that an advertiser would rather have a visitor spend five minutes on its website than only ten or twenty seconds. On the other hand, it may not matter much. There are statistics out there which say that a website has about three seconds to interest a visitor in the content. If the visitor is not interested in the first three seconds, then he or she is not going to be interested at all. Perhaps CoinAd is capitalizing on that, and it could be that an advertiser will find little to no difference in positive results between CoinAd and BitVisitor.

The main job of an advertiser is to interest the visitor in learning more and ultimately buying the product. I know that many of the advertisers on both sites are hoping to sign up more users or customers through their affiliate links. So they put up the home page of a website and hope people will sign up. Usually, that is not the most effective way to do it because there is no targeting to the audience. An advertiser should carefully consider how to turn someone like me who is viewing his site to collect the payout into a more interested potential customer. If a site interests me within five minutes, it is just as likely to interest me within twenty seconds.

CoinAd has a simple account page which allows you to determine when you want to cash out your earnings. The minimum payout is low at 100 uBTC. You can cash out as soon as you hit the minimum, or you can stockpile your earnings for a while before cashing out. When you register you are also automatically enrolled in CoinAd's affiliate program. When others sign up for CoinAd through your link you earn half of what they earn from visiting websites. So having just two of your friends become active users is as good as you yourself spending the time viewing the ads!

When you sign up for CoinAd, do be sure to choose a payment address that is associated with a wallet that you own (not an address associated with an account on a trading website, for example), and also choose the password and contact email address carefully. The reason is that in order to change the payment address or any other item in your profile, you have to use the contact form and someone on the other end has to make the change manually. It's not like BitVisitor where you can simply log in with a different address if you want to direct your payout somewhere else. Automating the process of updating profile information is an area where CoinAd could improve.

Whether the website in question is a faucet or an earning site, one important feature to evaluate is the payout threshold, or minimum payout amount. It doesn't matter too much what the threshold is as long as you can meet it within a reasonable amount of time. Faucet sites which use CoinBox to pay out are more attractive than faucet sites which pay the same amount but which will require you to visit them fifty times using the same address before they will pay out. The reason is that by aggregating payments from all the faucets you visit, you can get paid out within hours rather than weeks. In a similar fashion, an earning site needs to allow the user to meet the minimum payout threshold within a reasonable amount of time, less than one week and preferably less than one day (in my opinion), to be worth spending time there. CoinAd passes this test with flying colors. While writing this, I just clicked on five active advertisements netting me a grand total of 0.0002 BTC which is twice the minimum payout threshold.

In short, I am really pleased with CoinAd's transformation from mere faucet to paid to view ads site, and believe it is a great earnings site to register an account with and visit regularly. I'm also hoping it really takes off and attracts many more advertisers.

Devtome Writers | Bitcoin | Earning Cryptocoins

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