Welcome To My Coinspace Review!
Bitcoin, Ethereum, Ripple, Litecoin 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 Review - Quick Summary
Name: Coinspace
Founders: Jerry Plesko. Current Base in Malta (Tax-Free Area)
Type: Cryptocurrencies
Summary: 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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Coinbase Latest News 2018
UPDATE 14/5/2018:
Many people have reported that they lost money with Coinspace. Now they are asking from me how could they get their money back.
Well, I warned you also beforehand from not falling into this. My best recommendation is to learn the lesson and go for more reliable ways to make money online like I do.
Coinspace Scam Review 2018 – 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.
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.
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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 decentralized 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.
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?
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.
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What do you think about Coinspace? Do you own other cryptocurrencies?
Have you also learned other ways to earn money online?
Let me know in the comments below!
If you have any questions, just leave a comment below and I will be more than happy to help you out.
I was persuaded by a colleague to join Coinspace – started to smell a rat when they kept postponing the launch and I couldn’t get any straight answers from the people that did the sales pitch here in New Zealand. Can’t get my money out (was told by the sales pitch people I could at any time which proved to be bullshit). I just wrote the whole thing off when Coinspace wanted everyone’s personal details put on a supposedly secure website of theirs (not the official Coinspace site). There’s no way I was going to put my personal details (passport details, driver license, bank details, address, photo etc) online. So have written that money off and chalked it up to experience. Thank God I only purchased one small mine!
Hi Lyne,
thanks for sharing your experience.
I’m happy to hear that you didn’t fully fall into their trap! Some people said under my YouTube video that they had fallen into Coinspace and are now trying to get their money back somehow. Must be a painful process…
Anyway, have you checked out my Ultimate Make Money Online Guide?
There you’ll learn 100% legitimate way to make money online that I am using myself. Feel free to ask me if you have any questions and I’ll be happy to help you out!
-Roope
Roope, just like you said, I also think Coinspace is a complete scam because since it is centralized there is no guarantee that you will get a good return on in your investment. If the company does not have a good reputation, then what’s the point? I would rather invest my money in more predictable cryptocurrencies such as Bitcoin.
Yes, now I think it is already confirmed that Coinspace is a scam. Many people have been asking me below my Coinspace YouTube video that how could they get their money back from this system.
I have said them that it is a better to learn the lesson from this one and never fall into Ponzi schemes anymore. By following my 5 principles, nobody should fall into online scams anymore.
It’s a mother fucking scam from Europe. One of my friends invited me to invest this stupid things, well i trusted him cause he’s my friends not because of this bullshit cockspace.
My entire information filled up was sold to the fucking scamming market and i received call from Europe 24/7 for marketing advertisement ( i live in Asia ).
So i decided to withdraw my coin you know what they said, sorry it’s not launch yet so i cannot sell my S for shit coin.
They promised to launch by 2016 Oct and now look mother fucker 2018. There’s goes my 300 Euro and my reputation.
I’m sorry for your loss.
Well, at least you can use this as a learning experience and be more careful in the future.
Any hope, Any chances, to get back any cash,
I guess chances are quite slim if you have voluntarily invested in Coinspace. I recommend being more careful next time and treat this like a learning experience.
I bought three coinspace mines. and have had no return. they have even locked my account so I cannot assess it.
What is happening
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.
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
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.
Hi what do you think about Firstcoin?
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.
SCAM !!!
does not pay the money.
Thanks for letting us know!
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.
Yes, I hope for the best for you!
Hi Kate have you any more information on were it’s at? Would luv to get involved with the class action if there is one. I have invested a lot into this and would like someone to be accountable for this loss.
I really hope you find something for this who was accountable of scamming people.
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.
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?
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!
I’m happy to hear that you don’t invest money on Coinspace but rather concentrate on Bitcoins.
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!
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.
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.
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.
-Roope
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.
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?
-Roope
I think he meant the cryptocurrency market rather than Coinspace itself.
Ah, okay 🙂
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.
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.
-Roope
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.
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.
-Roope
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”!
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.
-Roope