I was introduced to cointellect.com by a post on blogjob by @Sadie_Marie and I decided to give it a try though with caution, because there were some blanks in the way the site conducted its business, hence the red flags for getting scammed if someone invested in their high returns mining contracts.

After signing up an account with the site and downloading their miner software, nothing looked very fishy even though the miner seemed to have issues, whereby the trouble shooting indicated that my computer had the mining capacity less than the minimum requirements of the expected hashing power.

Initially, it indicated that I was able to mine the coins worth less than 1 euro per day, and I was happy with it given that it was all passive income and I could withdraw through the PayPal account when attained the minimum of 10 Euros, or collect the earnings through doge coin wallet.

Since I did not want to risk my cash by buying their contracts, I decided to invest more time in promoting the referral link through my posts on different sites, so that I could earn 10% of the earnings/contract investments if any active referral signed up under me (or just watch how it puns out).

Fortunately, I was able to have 3 referrals who purchased 3 contracts. One demo contract and 2 starter contracts; the demo contracts cost 14.95 Euros while the starter contracts cost 299 Euros. Where by the referrer earns 10% which was in my case, 1.5 and 60 Euros respectively.

The referrer is able to access the affiliate earnings after the expiry of 14 days after the purchase of the contract by the referrals.

Before long, the terms of use by the site had been changed in order to restrict the PayPal withdrawals, from 10 Euros to the minimum threshold of 50 Euros (all the signs of a scam showing)

And that the users should have the minimum hash power of 20M/h in order to rent their mining power/ solomine, else left with the only option of buying the contract. This meant that most of the users’ mining through their own GPU or CPU was reduced to 0.0001 Euros per day.

A few days ago, I could not access my earnings and always ended up with an error page explaining that my account was suspended due to having logged in using several different IP addresses, hence suspected for use of bots, and that I had to verify the account using my credit card so that I could access the earnings and withdraw.

Though I was scared about it all, I decided to give it a try when I my credit card had a balance $2 dollars, just expecting anything, and guess what?

I was able to withdraw all the earnings that had accumulated amounting to 62 Euros ($76 dollars) to my PayPal account shortly after successful account verification.

Two days later, I cannot now access my cointellect account, with the usual password rejected.

Do you see how daring lucky I was to successfully earn $76 USD from the site many online people suspect to be scam?

Do you want me to shout that you should stay away from cointellect.com?

7 Comments on My short-lived success of $76 dollars earnings with cointellect.com, the bitcoin online cloud-hashing site, considered scam

  1. I don’t know much about bitcoins and how they’re used, but I know when websites are questionable. Not in the beginning of course, or else I wouldn’t feel the need to blog about my experiences and discovering. I’m a little confused if you think this website you’re discussing is worth it or not since you did make some good money from it but then got locked out of your account. I definitely would avoid it personally, but would you recommend it as a one-shot deal?

    • I do not recommend it, for it has started showing some signs that there is high probability that it can lock in the peoples’ investments by simply hiking the minimum withdrawal amount.

    • As I mentioned in the post, I was lucky to invite the referrals ended up buying the contracts, where I earned 10% of the investments, which mature in 14 days and the referrer is able to withdraw.

    • Cointellect is a scam, a ponzi scheme and they are vanishing with people’s money. Actually, you are just one of the victims who got into their net. Sorry about it, I also happen to be the victim too for I was able to earn through my affiliates but lately have not been able to withdraw the cash amounting to 391 euros which has been under paypal process since 17th Jan. If I now try to collect the remaining balance, I end up on the error page indicating that, the solo mined earnings can only be used to purchase contracts. Don’t expect anything more from cointellect, they are big scam.Of course they are now packing. Only lose excuses left behind to confuse the loyalists.

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