As I have decided to keep my blog completely free from advertising and data tracking, there are not many ways of website content monetization left to use. However, a new method that has quickly attained my attention and excitement over the past few months is Coil.
Having it integrated into this WordPress website enables me to receive tiny micropayments streamed to me in real time as visitors are reading my articles — provided they have an active Coil subscription.
While it is also possible to receive those payments in US dollars, I am receiving mine in XRP, which is a cryptocurrency used for different use cases.
This Month’s XRP Balance
My XRP balance for January 2020 that I received through Coil
In the first month of 2020 I received a total of 3.141017 XRP, which on the last day of that month was worth roughly 0,67 €.
While this amount for sure doesn’t look like a lot, I am very happy about it. Coil is still completely unknown among the general internet audience and my blog is even more invisible. Therefore, starting my first month with more than nothing is already very exciting.
On top of that, the price of XRP is still very volatile at the moment due to speculative trading and limited utility volume, therefore this value might be very different when you are reading this article.
This Month’s Traffic Analytics
Chart of my blog traffic analytics for January 2020
To be able to measure this income against my website traffic development I will include a monthly overview of my analytics with every report.
As you can see above, I had 331 unique visitors on my blog in the past month. Divided by the amount I earned through Coil makes 0,002 € that I earned per visitor.
The actual amount might actually still be a lot lower, since I am also receiving payments from Coil when I’m browsing my own website or while editing articles. Unfortunately, I couldn’t find a way to avoid that yet. Chrome only allows to enable extensions either on all websites or on specific ones, but there is no option to exclude an individual site as of now.
I’m also publishing a few articles on Coil’s own blogging platform aside from linking to my blog, which also counts towards this earnings amount diluting this metric further.
I’m looking forward to see how that metric is going to develop over the course of this year, especially since I’m expecting an increase across all of the three relevant metrics — my website traffic, the adoption of Coil, and the value of XRP.
If you have any questions, feel free to drop them in the comments below this article.
If you are curious to find out how to integrate Coil into your own WordPress website or blog, check out my step-by-step guide on how to do it.