Welcome to my CoinSpace Review!
First of all, don’t be mistaken with this MLM opportunity to the CoinSpace Wallet you’ll see online once you’ll search about CoinSpace. For CoinSpace Wallet is a legit cryptocurrency and it has nothing to do with Coin Space, which we will be tackling in this review.
Coinspace Ltd Review Summary
Name: Coinspace Ltd
Founders: Not Disclosed
Product Type: Multi-Level Marketing
Price: Approximately $324 To $12,900+ (€300 to €12,000) For The Packages
Quick Summary: CoinSpace is a business opportunity that incorporates multi-level marketing (MLM) with cryptocurrencies. It’s one of those digital currencies that is said to be used anywhere. CoinSpace utilizes S-coin that is said to be a stronger competitor of the famous bitcoin.
However, there are a lot of red flags with this company such as having too much focus on recruitment and lack of transparency with regards to its owner and many more. That’s why I won’t recommend you to this opportunity!
Overall Rating: 1/10
As we know, the cryptocurrency world is quite taking a scene in the business. For your information, a cryptocurrency is a virtual or digital currency such as the famous bitcoin. Well, a lot of people are trying their aces on investing with such platforms.
And now we will be discussing a cryptocurrency that incorporates a multi-level marketing (MLM) scheme and it is CoinSpace -the MLM and not the CoinSpace Wallet (as mentioned above). Yes, we will discuss more of this in detail in this review. Try to see after going through this review if it’s a legitimate company or is it a scam.
What Is CoinSpace About?
CoinSpace is one of those multi-level marketing (MLM) companies in the cryptocurrency niche. Being a cryptocurrency MLM, it markets itself as a strong competitor against the famous cryptocurrencies Bitcoin and Ethereum, both of which are already recognized and legit cryptocurrencies in the industry.
They claim to have launched a new cryptocurrency called “S-coin” which they say as a stronger contender and which only they will be mining.
Basically, CoinSpace works as most cryptocurrencies operate. Opportunities like this are a way for people to earn money just by increasing their digital coins. It can be then converted to money.
And just like such opportunities, they probably want to entice you with the idea that you’re buying into the same program where the people went into years ago and are now millionaires or billionaires because of cryptocurrencies.
In their website, they stated that to create a valuable and widely accepted Cryptocurrency, the markets must be ready and prepared. Coinspace will do this by performing specific steps to prepare the markets to the best of our ability and to create the demand by building our own community of potential consumers.
The necessary steps are:
- Software APP
- Merchant Program
- Payment services FIAT and Crypto
- Unique Cryptocurrency
And also they say that "You become part of your own success by using the new digital economy: We allow you to join the revolution of the digital business world. Our model connects consumers and merchants directly with each other by providing them the safest and easiest technologically advanced security and transaction solution on the market utilizing Coinspace as the link.”
And they do claim that they’ll do the rest of the work for you.
CoinSpace’s official website was registered in March 2015. The registered address was in Malta.
However, there was no official information as to who runs the company. The only mentioned name was Daniel Pawl who was listed as the domain owner. Other than that, his relationship with CoinSpace is unknown.
Malta is a Southern European island country. That's why the company is using Euro (€) conversions.
CoinSpace Product Line
As a CryptoMLM, there are no physical products or services incorporated into CoinSpace’s business opportunity. However, they sell investment packages for those who want to become a member and participate in their MLM opportunity.
Here are the following packages: (With an S-coin cost. FYI: each S-Coin is claimed to be at €0.5 or that’s about $0.55)
- Minimum Mine – 30 S-Coins
- Basic Mine – 100 S-Coins
- Quarter Mine – 250 S-Coins
- Half Mine – 500 S-Coins
- Full Mine – 1000 S-Coins
- Double Mine – 2000 S-Coins
The only difference between the packages is the income potential. With such investment schemes, the higher the investment, the higher the earnings.
FYI: The Double Mine Package is valid for 24 months(2 years) and the rest of the packages expire after 12 months (a year).
How To Make Money With CoinSpace?
Basically, you’ll earn in CoinSpace through a monthly ROI(return of investment) and commissions from recruitment.
Direct Commission- you’ll get 12% upon recruiting someone into CoinSpace and you’ll earn 20% when you join the Micro Mine Package.
Binary Commission- you’ll earn 50% of the Points in your weaker leg, which could make you €3,000. To qualify as an active member and be eligible for Binary Commissions, you’ll have to recruit 2 people.
45 Days Challenge
Recruitment Commissions - You’ll get this for recruiting new members to join in CoinSpace’s crypto MLM opportunity and your commission will depend on what package they will choose to invest in.
- Minimum Mine – €35
- Basic Mine – €84
- Quarter Mine – €180
- Half Mine – €360
- Full Mine – €720
- Double Mine – €1440
Passive ROI (return of investment) you’ll receive a monthly ROI as follows:
- Minimum Mine – €36.50 a month for 12 months
- Basic Mine – €84 EUR a month for 12 months
- Quarter Mine – €182.50 EUR a month for 12 months
- Half Mine – €365 EUR a month for 12 months
- Full Mine – €730 EUR a month for 12 months
- Double Mine – €1520 a month for 24 months
Here are the following Ranks in CoinSpace and qualifications:
- Coordinator - 1Left/1Right downline, 6000points, 1000EUR/day
- Team Leader -1 active member, 12000 points, 2000EUR/day
- Supervisor - 2 active member, 36000 points, 3000EUR/day
- Executive Director - 2 Coordinator downline, 12000 points, 5000EUR/day
- Diamond -1 Team Leader and 1 Supervisor downline, 300000 points, 8000EUR/day
- Blue Diamond - 2 Supervisor Downline, 500000 points, 10000EUR/day
- Black Diamond -1 Supervisor and 1 Executive downline, 1000000 points, 15000EUR/day
- Royal Diamond - 2 Executive Director, 2500000 points, 20000EUR/day
- Crown Diamond - 1 Diamond and 1 Blue Diamond, 5000000 points, 25000EUR/day
- Crown Ambassador - 2 Black Diamond Downline, 10000000 points, 40000EUR/day
Here are the following recognition and prize rewards for each rank:
- Coordinator - Silver coin recognition+300 career coins
- Team Leader - Ipad Mini+600 career coins
- Supervisor - iPhone, BMW 1 car+1800 career coins
- Executive Director - Macbook Air, BMW 3/ BMW4+6000 career coins
- Diamond - Luxury Trip + Rolex Watch, BMW 5/X5+15000 career coins
- Blue Diamond - Luxury Trip, BMW6/7/x6+25000 career coins
- Black Diamond - Luxury Trip, BMWi8/ TESLA/ Maserati/ Porsche+50000 career coins
- Royal Diamond - Luxury Trip, BMWi8/ TESLA/ Maserati/ Porsche+125000 career coins
- Crown Diamond - Luxury Trip, Villa or Supercar(Ferrari, Lamborghini, Bentley)+250000 career coins
- Crown Ambassador - Luxury Tropical Villa with Infinity Pool Ocean View and Private Beach+500000 career coins
See more about their compensation plan in this video:
Is CoinSpace A Scam?
I totally can’t say if CoinSpace is a SCAM but there are a lot of red flags in this MLM opportunity. With no physical products or services and with too much focus on recruitment, it can be a pyramiding scheme. However, we don’t have proof of that. Nevertheless, it can still be really suspicious of something. With no owner information and lack of transparency, definitely not recommending you this one.
As mentioned, you can become a member of their MLM opportunity by investing in one of the following packages:
- Minimum Mine – €300
- Basic Mine – €700
- Quarter Mine – €1500
- Half Mine – €3000
- Full Mine – €6000
- Double Mine – €12,000
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I could say that their pretty big rewards can be enticing but frankly, I’m not that much captivated because it can be a deception. With that, in my point of view, there’s really not much to like about this business opportunity.
Maybe A Pyramid Scheme
CoinSpace appears to be a pyramid scheme. It’s just that the majority of the red flags in being a pyramid scheme happen to be present in CoinSpace.
- no owner information (no way to make anyone liable for their legalities sake)
- not regulated by any financial authority
- focus on recruitment
The fact that there is no mentioned owner or other vital information and its lack of transparency are enough reasons to avoid this kind of platform. When things go wrong, it will be hard to find anyone liable. Their website is not even that informative on how they really operate and it’s even hard to manipulate.
Regulation And Policy Issues
CoinSpace is not regulated with any of the financial institutions which are a taboo since they’re operating as an investment and trading platform. They ought to be registered and regulated.
The Malta Financial Services Authority (MFSA) even announced that the company is not registered under them and are not permitted to carry out any of the investment services advertised. It’s even stipulated in CoinSpace’s website.
So with this, something really is fraudulent and you can just anticipate legal concerns and as well as it is closing in the future.
And also, CoinSpace policies are unclear. Their policy mentions that the platform permits the members to purchase CoinSpace products from other members. With this, there’s a high chance of dealing with fraud. Such investment schemes should always have the members dealing with the brokers and not with each other.
Too Much Focus On Recruitment
Being an MLM in nature would definitely require you to recruit. And recruiting alone will be another burden. Not to mention the cryptocurrencies that you are already concerned about. In this kind of scheme, you will have higher ranks if you do well in recruitment. Taking as well as the consideration that your downlines should be as well active.
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Who Is It For?
It's a business intended for those who are skilled with crypto MLM. It also for those who are too enthralled with these cryptocurrencies and for those who would want to make money from the comforts of their home of course with a stable internet connection since you have to check your investment online.
As a member, you are basically given access to their back office where you can monitor everything. As to support, they say that they do all the work and that they provide comprehensive services all supported and maintained 24/7 by IT professionals.
Well, we can’t totally conclude if CoinSpace is a Scam. It’s a crypto MLM that may entice you with the promise of bigger ROIs. However, there are many red flags. The fact that there is no owner information and its lack of transparency is already enough reasons to make me not recommend you to this program.
It’s also coined as a pyramid scheme due to its focus on recruitment. With such investment schemes, the higher the investment, the higher the earnings. So you will probably opt to invest big as well.
So If I were you better not buy into this program and instead save your investment for something good and reliable. And also the idea of easy money is never always a good thing. So better skip this platform!
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Thank you for reading my CoinSpace review! I hope this has enlightened you and if you have any questions or clarifications, please drop it down below.