Is Coinspace a Scam Or Will It Make You a Millionaire? – Read My Honest Review!

//Is Coinspace a Scam Or Will It Make You a Millionaire? – Read My Honest Review!

Is Coinspace a Scam Or Will It Make You a Millionaire? – Read My Honest Review!

Bitcoin, Ethereum, Ripple, Litecoin, OneCoin and so on and so on. You have probably heard some of the most famous cryptocurrencies. The next one coming is S-Coin by the company called Coinspace?

There has been a lot of buzz recently about this new cryptocurrency. Will it become as popular as Bitcoin? What are the differences? Is Coinspace a scam? Find out answers to all of these questions in the next 1-2 minutes by reading my informative article.

Coinspace Scam Review 2017 – Video Version

Before diving into the article, I want to provide you an opportunity to have a look at my video review of Coinspace. I believe you’ll enjoy and find it helpful.

Coinspace Review

Name: Coinspace

Founders: Jerry Plesko. Current Base in Malta (Tax-Free Area)

Type: Cryptocurrencies

Short Review: In my eyes, Coinspace looks just like a Ponzi scheme. I don’t see there any new value compared to other cryptocurrencies. I recommend staying away from it and concentrate on more reliable ones like Bitcoin.

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is coinspace a scam

What Is Coinspace? – New Bitcoin!?

Coinspace wants to be related to other reliable cryptocurrencies like Bitcoin and Ethereum. One of the leaders of Coinspace says that Coinspace works like any other currency in the world but it’s only digital. If you don’t know yet the idea behind cryptocurrencies, you can read it here or you can have a look at the video below.

Coinspace is being marketed in the following way, “Imagine if you would have bought Bitcoins in 2009. Now you would be a millionaire… But don’t worry! You have the same chance again through buying S-Coin through Coinspace.” We all probably know somebody who earned quite a lot of money with Bitcoins. I didn’t bet so much but at least I earned a few thousands. Many times I have fallen into thinking, “What if…”

What if I would have bought more and now I would be a millionaire. Anyhow, it’s done and we can’t go back in time. It’s better to live in the moment than in the past.

But Bitcoin wasn’t the only successful cryptocurrency. There have been many others and people who joined early have become multimillionaires. Ethereum was one of them. I made a research about them and found it an interesting opportunity to invest money as well. However, I probably missed the best boat.

Is Coinspace another chance for us? Is it a “new Bitcoin” that will make hundreds of millionaires all around the world? Or is it just a scam? I’ll let you know in a moment.

Click the Picture to Get Started.

Coinspace vs Bitcoin – They Are Totally Different

As you saw in the video above, Bitcoin is the first decentralized digital currency. It means that one company or institution doesn’t run the show. It’s decentralized and the code is open to see for everyone in the world.

Coinspace is a different story. Their product called S-Coin is run by their own company and they decide what is happening there. You can’t buy S-Coins through any reliable cryptocurrency broker because only Coinspace is selling them. The idea is similar to Onecoin where an individual company is running the show.

This brings us many questions. What if the company isn’t reliable? What if they just take our money and run?

The fact that Coinspace is centralized is not a problem itself. You may know the third biggest cryptocurrency in the world right now called Ripple. That currency isn’t centralized either but it’s still legit. So, it really depends on the team that is working there in the background.

You can pay with Bitcoins in numerous places all around the world: Subway restaurants, hotels, when buying flight tickets and so on. Sometimes you even get a discount when you pay with Bitcoins.

But where can you pay with Coinspace’s S-coin? Nowhere.

The idea of Coinspace is to invest into the system and get more money out. You can do it through Coinspace packages. Let’s have a closer look.

Coinspace Packages – “Give Us Your Money!”

Have you heard what is the most common investing advice in the world? It’s called, “Give me your money.” Salespersons in the bank are giving their advice that sounds nice and cool but after all, they want to say is, “Just give me your money.” The same principle applies to numerous other investing “gurus”.

In the picture below you can see different investing packages of Coinspace. The idea is the same like in other Ponzi schemes: the more money you invest, the bigger ROI (return on investment) you are going to get.

is coinspace a scam

Coinspace Packages. There are 3 more up to 24,000€ per package.

If new people join the system, those who invested early on will most likely get a good return on their investments at least in the beginning. But if new people stop joining the program, the pyramid will collapse.

I believe that first, the value will go up for a while when they are doing aggressive marketing. But at some point, it will most likely just collapse if they are providing good value.

Where Is the Value of Coinspace? – I Can’t Find It!

It’s hard to find a great value in Coinspace. As its best, it’s just a duplication of Bitcoin on many other coins that enable immediate payments and transactions.

It seems that Italian officials don’t see the value of either. Italian Securities and Exchange Commission stopped Coinspace sales activities and promotion in Italy.

Do you know if promoting Coinspace has become illegal also in other countries?

Conclusion – Is Coinspace a Scam?

In my eyes, it seems nothing more than a Ponzi scheme. It will be very interesting to see what happens after their launch. Will the founders just take the money and leave or will the value go higher for a while?

The important question to ask is, “What kind of value is this system giving?” When you invest your money you need to understand what is the main reason the cryptocurrency/company/gold/whatever will grow in value. It seems that Coinspace is just a cryptocurrency with packages like in network marketing.

My recommendation is to stay away from Coinspace and look for better investments.

I believe that Bitcoin value will still go up in the future and I’ll give you $10 free Bitcoins through my link.

If you are interested in making a living (or extra income) online, I highly recommend taking a look at my #1 recommendation. That program has taught me and thousands of other people worldwide how to earn money online. If I can learn it, you can learn it too.

What do you think about Coinspace? Do you own other cryptocurrencies?

Have you also learned other ways to earn money online?

Let’s discuss in the comments below! 🙂

If you have any questions, feel free to ask and I’ll be sure to come up with an answer.



Overall Ranking

By | 2017-12-18T16:29:35+00:00 December 17th, 2017|Categories: Bitcoins|28 Comments

About the Author:

Roope is the founder and creator of He has created this website in 2015 to help you to create a successful online business. If you have any questions, don't hesitate to contact us by leaving a comment below! We hope you enjoy!


  1. VICKI BRAKESPEARE January 10, 2018 at 11:02 am - Reply

    I bought three coinspace mines. and have had no return. they have even locked my account so I cannot assess it.

    What is happening

    • Roope Kiuttu January 10, 2018 at 7:48 pm - Reply

      The system is just collapsing like expected. I recommend that you “do your homework” carefully next time before getting involved with a shady system like Coinspace. I highly recommend staying away from this kind of programs.

  2. Sh November 18, 2017 at 12:30 am - Reply

    S coin is a ponzi scheme through and through….maltese based , flagged by their own govt….
    Sadly a few mums and dads tyoe investors will be burned badly whilst the scammers enjoy the great life. Sad

    • Roope Kiuttu November 18, 2017 at 11:34 am - Reply

      That’s true. Thank you for sharing your opinion.

      I think that it would never be worth it to be part of the Ponzi/pyramid scheme even though the system would make big money. Fooling innocent people is so bad action that should be punished.

  3. Ali October 30, 2017 at 7:51 pm - Reply

    Hi what do you think about Firstcoin?

    • Roope Kiuttu October 30, 2017 at 8:04 pm - Reply

      I am not familiar with Firstcoin. Personally, I have mainly concentrated on the biggest coins like Ripple, Bitcoin and Ethereum. I recommend making the research carefully before investing lots of money. I’m sorry but I don’t have the knowledge of Firstcoin yet.

  4. Macieju October 8, 2017 at 12:59 pm - Reply

    SCAM !!!
    does not pay the money.

    • Roope Kiuttu October 8, 2017 at 1:04 pm - Reply

      Thanks for letting us know!

      • Kate January 11, 2018 at 5:35 am - Reply

        I’m trying to take Coinspace to court in Malta but I don’t like my chances, a lot of people have already have class a class action happening, so I’m hoping the courts can some how make them pay every one there money back.

  5. vinaya September 1, 2017 at 8:32 pm - Reply

    I have heard about Coinspace, I have seen it advertised on some dubious sites like traffic exchange, PTC etc. The only crypto currency that I can trust is Bitcoin. I use Bitcoin in payment as well as while sending funds.

    However, I have never taken any interested in other crypto currencies. When I was introduced to Bitcoin it was $400, how one Bitcoin worths more than $2000. I once had $600 worth Bitcoin. However, I spent all my Bitcoins and now I have nothing. I wish I had known the true value of Bitcoin.

    • Roope Kiuttu September 1, 2017 at 10:28 pm - Reply

      It’s very interesting to see what happens to Bitcoin and other cryptocurrencies in the future. I believe that prices will still go significantly up. I have still quite lots of coins compared to my whole equity. That’s why I’m happy to see the value rising. Will 1 Bitcoin be worth $50,000 or even +$100,000 after a few years? The time will show.

      By the way, would you like to have $10 of free bitcoins through my link on Coinbase?

  6. Wizkha1 August 19, 2017 at 9:13 am - Reply

    I’m not used to working with cryptocurrencies yet, but when I start in this business, I’d never change my actual solid currency in another but Bitcoins, that’s why I’d never use Coinspace as my cryptocurrency in the day today basis. I trust so much more in Bitcoin. And I think the fact that you should become millionaire buying a bunch Coinspaces and later have a fortune, it’s not always like that, maybe you don’t, and lose a lot of money on a project that you don’t know if in the couples of days ahead it might disappear.

    I’m not interested in Coinspaces, I prefer something more trustworthy like Bitcoin. Excellent article Roope!

    • Roope Kiuttu August 19, 2017 at 9:44 am - Reply

      I’m happy to hear that you don’t invest money on Coinspace but rather concentrate on Bitcoins.

  7. Wizkha1 August 19, 2017 at 6:27 am - Reply

    I think Coinspace could be worth it. But, as you said, maybe not, so when it comes to your money, a solid currency that you earned working on the internet or at your office, when you want to buy some CC, you want them to be legit and valuable.

    I don’t feel this with Coinspace, I feel maybe someday you wake up and Coinspace disappeared, and your hard-working money? That’s something we don’t want to happen ever. I’d not buy any CC unless its value and quality are totally worth it. Excellent article Roope!

    • Roope Kiuttu August 19, 2017 at 9:34 am - Reply

      That’s true Wizkha!

      Bitcoin seems to be much more reliable and there’s still lots of potential for growth. Recently I just bought even more bitcoins.

  8. Joselito August 9, 2017 at 6:11 am - Reply

    New idea means new hope for cryptocurrencies. I do believe on that. many have become millionaires (as stated on the internet), and also many had regrets because they decline the importance of cryptocurrencies. Am very glad finding this website, very informative.

    • Roope Kiuttu August 9, 2017 at 2:26 pm - Reply

      Hi Joselito,

      it’s true that many people have become millionaires with cryptocurrencies but Coinspace is a different thing as I wrote in my article.

      In my opinion, it’s better to stick to more reliable coins.


  9. Jason Greene August 8, 2017 at 6:14 pm - Reply

    As soon as a CC hits the trade market & can be equally exchanged with BTC it becomes a tangible investment opportunity – even if you see minimal gains of 1-2% that can fluctuate & calculate to massive gains over time, sometimes, even short periods of time. I’ve managed to make a decent coin with the CC market this past few months – would love to see more people get involved & take the risk.

    • Roope Kiuttu August 8, 2017 at 6:51 pm - Reply

      Hi Jason,

      when you talk about CC, do you mean Coinspace? What are the main benefits of Coinspace in your opinion compared to Bitcoin or other cryptocurrencies?


      • JP January 4, 2018 at 4:41 pm - Reply

        I think he meant the cryptocurrency market rather than Coinspace itself.

  10. kingcool52 August 7, 2017 at 9:30 pm - Reply

    I think a lot of companies are trying to create these new crypto currencies because they think that they can then rival Bitcoin but personally I think that most of these companies aren’t going to be successful and will end up just taking your money and running.

    There are currently only a few top crypto currencies out there, other than that I would not invest in any of the others. It’s just too risky and not worth the investment.

    • Roope Kiuttu August 8, 2017 at 6:09 am - Reply

      Hi Kingcool,

      I have researched different cryptocurrencies and some of them have very creative applications. It’ll be interesting to see what will happen in the future because the value can still rise hugely in the future. There’s so much potential and the story of Bitcoin could have only started.


  11. Jo August 3, 2017 at 3:58 pm - Reply

    Wow, I did not know that. I thought it was the same as Bitcoin. I guess the lack of transparency (not decentralized and no open codes) is a red flag. I am sure there are still people that will try it, hoping to be the first or cash-in fast. The available packages do look like a Ponzi scheme and we all know how those end. Great article.

    • Roope Kiuttu August 4, 2017 at 4:28 am - Reply

      Hi Jo,

      yeah, packages also looked a bit suspicious to my eyes. Other cryptocurrencies don’t have such things.

      It will be interesting to see in the Autumn what happens with Coinspace after their launch.


  12. Rosette August 2, 2017 at 9:38 pm - Reply

    I heard a bit about Coinspace but I wasn’t really aware of how it worked. After reading your review I must agree that it looks like a Ponzi scheme, specifically the bad kind where the owners just take the money after a while and scam everyone faithful enough to have made an investment.

    And even if they don’t run away with the money, I believe it’s a matter of time before it crashes and burns; I don’t think it’ll last a lot in the market.

    Thanks for your review and your suggestions, people have to watch out when they try to look for “the next Bitcoin”!

    • Roope Kiuttu August 3, 2017 at 6:26 am - Reply

      Hi Rosette,

      true. Now people have awaken to see the potential of cryptocurrencies and the prices are going higher. Then many people say, “I should have bought Bitcoins in 2011 or 2012.” When we can’t go back in time it’s always possible to look for new investments.

      Many cryptocurrencies want to advertise themselves as a “new Bitcoin” even though they wouldn’t even provide any new value.


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