Last Updated on September 26, 2016 by Tim
The Internet has drastically changed the way we live our lives. Not only does it provide you with many ways to learn and entertain yourself, it also offers you ways to generate income. If you’re looking for ways to earn a living, there are a number of Internet-based companies that can provide you with the opportunity that you’re looking for.
One of these companies is CoinSpace. If you’re interested in generating some income off the Internet, you should check out the business opportunities being offered by this company.
CoinSpace Background Info
There is no available information about who owns or runs CoinSpace. However, what you can get learn online is that its domain coinspace.eu was registered on the 11th of March, 2015 and “Danjel Pawl” of CoinSpace LTD was listed as its owner. The website is also said to be based in Malta.
Pawl’s name is connected to CoinSpace (the company) only through the firm’s website domain registration. Who he is or what relationship he has with the company itself is not made available.
Product Offerings and Business Opportunity
Unlike other multi-level marketing companies or MLMs, CoinSpace doesn’t sell any product or service. What it offers instead is affiliate membership you can make money from. Similar to Bitcoin, what the company does is mine cryptocurrency and then trade them for you. When you sign up, you become a CoinSpace affiliate and are able to invest in packages offered by the company.
To get started, you can purchase one of these six investment packages:
- Minimum Mine – €300
- Basic Mine – €700
- Quarter Mine – €1,500
- Half Mine – €3,000
- Full Mine – €6,000
- Double Mine – €12,000
Depending on the package that you have chosen, you’ll automatically get S-Coin points. One S-Coin is worth €0.5.
- 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
You’ll also get passive return on investment (ROI) according to the investment package you have chosen. They are as follows:
- Minimum Mine – €36.50 a month for 12 months
- Basic Mine – €84 a month for 12 months
- Quarter Mine – €182.50 a month for 12 months
- Half Mine – €365 a month for 12 months
- Full Mine – €730 a month for 12 months
- Double Mine – €1520 a month for 24 months
In addition to receiving passive ROI every month, you can also earn money through commissions when your recruit new affiliates. The amount of commissions you’ll receive will depend on how much the person you have recruited will invest in CoinSpace. Please refer to the list below to determine the recruitment commissions:
- Minimum Mine – €35
- Basic Mine – €84
- Quarter Mine – €180
- Half Mine – €360
- Full Mine – €720
- Double Mine – €1440
However, do take note that you must reinvest the 25% of all the commissions given to you by CoinSpace back into the company.
Apart from the recruitment commissions you’ll receive, you’ll also get residual commissions. Residual commissions are paid out through a binary compensation structure. In the binary compensation structure, an affiliate is at the top of a binary team. Then the succeeding positions are generated by splitting previous level positions into another two positions and so on.
To determine residual commissions each affiliate will receive, investment volume among binary teams is carefully monitored, with each CoinSpace package generating the following point values:
- Minimum Mine – 50 points
- Basic Mine – 120 points
- Quarter Mine – 250 points
- Half Mine – 500 points
- Full Mine – 1000 points
- Double Mine – 2000 points
Each point is equal to €1 and depending on his or her position on the team, each affiliate must follow a specific weekly cap.
For example, for the coordinator, he must recruit at least two affiliates and generate an accumulated 6,000 binary points on both binary sides to receive €1000 a day. The team leader, on the other hand, must maintain one active affiliate and generate an accumulated 12,000 binary points on both sides of their binary team to receive a residual commission of €2000 a day. The supervisor must maintain two active investors and produce an accumulated 36,000 binary points on both sides of the binary team to get €3000 EUR a day.
The highest position on the ladder is the Crown Diamond. The Crown Diamond must maintain one Diamond and one Blue Diamond-ranked affiliates and generate an accumulated 5,000,000 binary points to earn €25,000 daily.
Apart from the monetary gains, you’ll also receive certain perks if you’re able to convince others to invest in S-Coin points. The rewards are as follows:
- Coordinator – 300 S-Coins
- Team Leader – 600 S-Coins and an iPad Mini
- Supervisor – 1800 S-Coins, an iPhone and the use of a BMW 1 car for six months
- Executive Director – 6000 S-Coins; a MacBook Air; and a BMW 4 car for 6 months
- Diamond – 15,000 S-Coins; a “Diamond Luxury Trip;” a Rolex watch; and BMW 5 car for 12 months
- Blue Diamond – 25,000 S-Coins; a “Blue Diamond Luxury Trip;” and a BMW 6, 7 or X6 car for 12 months
- Black Diamond – 50,000 S-Coins; a “Black Diamond Luxury Trip;” and a BMW i8, Tesla, Maserati or Porsche car for 12 months
- Royal Diamond = 125,000 S-Coins; a “Royal Diamond Luxury Trip;” and a BMW i8, Maserati or Porsche car to keep
- Crown Diamond – 250,000 S-Coins; a “Crown Diamond Luxury Trip’” and a villa or Ferrari, Lamborghini or Bentley supercar.
There are a number of criticisms lodged against CoinSpace. One of them is the obvious lack of company information. Also, there have been allegations that it runs a Ponzi scheme.
On the upside, the income, commissions, and perks you’ll receive from CoinSpace are indeed very attractive. However, since the company makes money only through affiliate investments and not through the sales of products and services like most MLMs, it would be wise to weigh your options carefully before deciding to make money with this company.