Welcome to the fifth edition of my Coil income reports, which I publish monthly.
Having Coil 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 and many other fiat and crypto currencies, I am receiving mine in XRP, which is a cryptocurrency used for different use cases.
This Month’s XRP Balance
My XRP balance for May 2020 that I received through Coil
Last month I received a total of 37.39811 XRP, which corresponds to an increase of +378 % compared to the previous month. With the exchange rate of XRP/EUR on the last day of the month that was worth roughly 6,96 €. That corresponds to an increase of +354 % compared to the previous month.
This Month’s Traffic Analytics
Chart of my blog traffic analytics for May 2020
Let’s measure it against my blog traffic analytics from last month.
I had 530 unique visitors on my blog in the past month. That’s a decrease of -18 % compared to the previous month. Divided by the amount I earned through Coil makes 0,013 € that I earned per visitor.
I need to mention at this point, that I receive payments via Coil not only on this website, but also from content I publish elsewhere. This includes the Coil blogging platform and also the Cinnamon platform, where I published my first video last month.
Therefore, it’s not really correct to compare only my blog traffic against the XRP I received. For now, this is sufficient enough for me, until I find a better way to track this development.
On top of that, this month many creators — including myself — had to change their payment pointers to point to a new wallet provider, which caused some hiccups in the beginning.
That makes me even more surprised about this month’s balance being so much higher than last month’s.
Another Coil Boost
This month’s payout from the Coil boost program blew me away. Seriously.
On May 23, I received an extra 2742.827318 XRP, which was worth $ 551.45 at that moment. I am so grateful for this and happy that there is some real support from Coil towards people who are curious and experimenting with web monetization.
This really motivates me to keep putting my energy into finding ways to grow the awareness of this new technology, knowing it is more than appreciated by the team at Coil. Thank you so much!
I haven’t been posting a lot of articles here last month, but I published a few posts directly on Coil.
Finally, I managed to upload my first video to Cinnamon — a walkthrough video for the recently published Coil plugin for WordPress. I also uploaded it to YouTube, as Cinnamon is currently only really known among people who know Coil already.
We have to keep spreading the word where the people are!
I am currently putting a lot of thought into what kind of content that I want to create. I want to find the right balance between documenting my progress and sharing what is currently going on in my life.
Let’s see where it goes!
You can check out all my monthly Coil income reports, which I create to track the development and perceived adoption of Coil.
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.
That’s a huge increase in ILP profits! Probably in line with the quality how-to-guides you produce lately – very helpful!
I was surprised as well, maybe it is also not really reflective, due to issues with the Uphold migration.
I keep having more and more thoughts around Coil and Web Monetization lately. Thinking of new use cases, but also of some obstacles that it might face on the way of adoption, that I can’t figure out in those moments.
What is your gut feeling so far? Do you think it is a viable business model for the web on a big scale? ?
Really interesting stats! Thanks Benny!
Thanks for your feedback! ?