Have you heard anything about earning money online? Sure, yes. Moreover, now, for some reason, methods of generating income online are actively imposing on us in various media, on Internet sites, forums, seminars and advertising media. It feels like online earning is something affordable for everyone and capable of making big money.
Cryptocurrency Earnings
One of the ways to earn income on the Internet is cryptocurrencies. Surely you heard about Bitcoin and how it made many people around the world millionaires because of its rise in price.
Cryptocurrencies appear due to the use of computing power of computers - the “mental” resources of various servers running on the network. This means that everyone with a sufficient number of generating capacities can get them.
This means that everyone can practically generate money for themselves using a computer more powerful. It is not surprising that this area has attracted so many people. As a result, projects like Cointellect started to be created here. Reviews about him, as well as features of his work, we will describe in this article.
Mining - mining currencies
So, let's start with the general definition of mining. This term comes from the English language ("mining") and translates as "mining". As you might guess, this word is used to mean the development of ore or minerals in mines.
Of course, cryptocurrency mining has nothing to do with mines and quarries. It consists in connecting a powerful server (with impressive graphics capabilities) - simply put, with the strongest possible graphics card, to the network with the further work of the client program. In the process, the computer solves complex crypto tasks, thanks to which it receives currency packets. Actually, this is the same prey.
In the future, the received electronic currency (whether it is Bitcoin, Doge coin or any other) can be easily exchanged for money that is familiar to us, which is in the public domain.
Services for making money
As already noted, in the field of cryptocurrencies, along with an increase in demand for mining, the number of various support services that provide exchange rate monitoring services, trading (trading) in received currency values, as well as investment projects allowing to increase funds by investing in the rental of computing power of one or more other companies.
As one of these projects, Cointellect was positioned. Reviews of it indicate that the service allowed you to earn by simply mining Doge Coin (another type of cryptocurrency). The earnings scheme is quite simple: you need to install the project program on your computer, run it and wait until this software saves money in the process. Of course, it is not worth expecting that in this way you can make at least some serious amount. So, according to participants, Cointellect allowed you to earn up to 1 euro per day. However, it all depends on the power of the computer and its performance (this determines the speed of production).
Cointellect.com: working conditions
Of course, installing the program is not the only condition. Website http://cointellect.com reviews characterize as an investment project. Its essence was as follows: the person who launched the software for mining could earn, say, no more than 1 euro. At the same time, if he bought a special contract worth 15 euros, he could earn more - the program removed restrictions and production was calculated at other rates.
Cointellect had such investment plans (the reviews of those who worked there confirm this) had several - worth 15, 100, 600, 1000 and 3000 euros. Therefore, by purchasing one or another tariff, the user could earn much more. Moreover, the final profit increased as investments became more expensive - thus, the organizers, obviously, attracted new participants and stimulated them to make investments.
Site device
The site https://cointellect.com (reviews of those who worked with it, confirm this) had a fairly simple organization, intuitively clear to each participant. Here, each was assigned a special “working zone”, which indicated the speed of production and the rate at which it is serviced. Thus, the user could calculate how much his profit will ultimately be after a certain number of hours of computer operation.
In addition, the site provided a convenient calculation of investments. With its help, everyone could calculate how profitable it is to make purchases of the following packages of additional services. Finally, there was also a referral system. About her - in the next paragraph of our article containing reviews on the Cointellect website.
Referral system
What is a referral system, probably everyone knows, who at least once encountered earnings on the Internet. All services use it to attract new members by encouraging referrers - those who brought a new member to the service.
The Cointellect website (its second address is http://cointellect.ee), the reviews of which we review in this article, also used a reward system for attracted users. This happened according to the following scheme: a simple participant had access to a link with his unique identifier, which he was free to post anywhere. After another user registered using the link, he was “attached” to the person who brought him in. Thus, a hierarchy of those who are attracted and are involved in the project.
According to the conditions under which the Cointellect program operated (user reviews confirm this), each participant received a percentage of the funds invested by his referral. Thus, material stimulation acted to attract new people to the site.
Earning methods
Given the above, it can be noted that the project could earn in several ways. The first is a simple cryptocurrency mining using a specialized program. It would be a small, but guaranteed income, which does not require additional investments. The second option is intended for those who have the funds to invest in an additional "pumping" account. This refers to the purchase of the following packages (we talked about them above). If we analyze the reviews on the site regarding cointellect.com, we can conclude that most participants considered this method more interesting, since it could have earned a lot more. True, the minus of such earnings is the need to make investments.
The third way to generate income on Cointellect is to attract partners. A person who has his own resource (website, blog or forum) about making money on the network could easily publish an advertisement containing a referral link and earn on deductions - a percentage of the investments of the participants cited by him.
Payment Terms
According to information published on cointellect.ee (reviews confirm it), payments are made in DogeCoin and PP. Withdrawing, of course, is more convenient through PayPal, but the money withdrawn through DC can be left on your account and accumulate, hoping for a further increase in the rate of this currency. At least now, a large number of people are engaged in trading speculations with cryptocurrencies. Given their independence and decentralized nature, we can confidently say that such operations can bring good profit.
As for Cointellect, according to information from users who have already withdrawn funds from the system, the minimum amount for payment was 10 euros. After ordering a payment in this amount, it was necessary to verify your wallet (this is done simply: if you work with PayPal via Qiwi, then you just need to receive a message with the code that you need to enter). For DogCoin, you don’t need to go through such a procedure.
Cointellect.com: reviews
In general, the project as a whole can be described as an interesting approach to making money on cryptocurrencies. And if it really worked as it was originally stated, then this service would surely be able to attract a wide range of investors and participants providing the power of their computers to solve complex crypto tasks.
However, as you may have noticed, information about the project is provided in the past tense. Yes, as you probably guessed, now the Cointellect service (reviews confirm this) does not work. It was closed after a fairly short period of time after launch, as a result of which many participants lost their invested funds. As you might guess, no compensation or refunds were made by the site organizers, which suggests that the service was originally planned as a banal financial pyramid “in a beautiful wrapper” of an investment project in the field of cryptocurrencies.
Actually, the absolute majority of the latter characteristics on the part of the participants states the same thing: Cointellect is presented as a HYIP project. About what it was, read on.
The collapse of the project and the status of "Not Paying"
They are confirmed by numerous screen shots, on which transaction information and payer data are clearly visible. It would hardly have occurred to anyone to fake such a number of screenshots, since this is simply not necessary. We can conclude that Cointellect really paid, although it was a long time ago.
True, there is another side - perhaps these payments were made from funds that were simultaneously received from other users. This is the nature of the HYIP structure: the first participants really received their money from the deposits of the second; the second - at the expense of the third; and those at the expense of subsequent ones. And, in general, the resource worked until the amount of the administration’s obligations to the participants grew to such volumes that they were not able to repay them. So the site was closed. It is noteworthy that this happened on all domains at once, and not just on cointellect.com. The feedback from many program participants contained all the desperation of people who had invested considerable sums to buy new tariff plans for DogeCoin production. And, as a result, it turned out that everything was done in vain.
The meaning of deception
The essence of such a project, in fact, is quite obvious - the organizers simply collected enough funds from the participants and “disappeared” in order to create something similar again in the future. Naturally, a part of investors (mainly those who were in the first waves of investors) did receive the promised profit, thus returning their investments with profit. Perhaps those who advertised the project on various sites and forums also managed to get their money as a percentage of the contribution of referrals. This, too, can be said a very beneficial role - to attract people, earning income depending on how much they have invested. Of course, in this case there is no need to risk your own funds, so there is nothing for such a user to lose (even in the event of a project crash).
As for the last invested, then, most likely, they did not expect an enviable fate in the form of financial losses. If you look at topics containing reviews about Cointellect.com (MMGP or any other financial and investment forum is the platform where they are posted), you can find a lot of information about such people. As a rule, they make up the majority of investors in such projects.
How not to fall for a bait?
So, how can one avoid the dubious programs of Cointellect? How to know that investing money, you will not lose it?
In fact, a proven method to find out has never existed. The essence of investments in such programs lies precisely in the risk that the investor bears, wanting to make a profit. Therefore, if you do not want to become a victim of such a scam, then just do not mess with highly profitable risky programs, wanting to make a profit. And then, of course, you will not lose anything.
Workable analogues
Are there really workable programs of a similar nature? Of course. True, it is impossible to know for sure how long such a project will work, and whether it will close immediately after your contribution. Remember that the feedback of the first investors was also quite flattering on the cointellect.com portal - they referred to the fact that the site pays and makes it possible for everyone to make a profit. However, the situation soon changed dramatically.
When investing in such programs, remember that you risk losing them. Therefore, do not pursue profits in this form, because no one guarantees that such sites will always function smoothly. So in the future you can lose much larger amounts.