Coince Review – Is It a Scam? Read This Before You Invest
What is Coince? Is it a scam? It is another High Yield Investment Program (HYIP) that promises an unrealistic ROI. Read this Coince Review and find out if it is worth investing your money with them.
What is Coince?
Website address: coince.com
Price: minimum is $10 and the maximum amount is $500,000.
Overall Rank: 0 out of 100
Owner: Joseph Miller
Status: SCAM – The website is closed. Find out how the other HYIP works better than Coince here.
Coince is a British-based investment company. Coince is a so-called Bitcoin cloud mining company, an online resource of Power Supplies & Equipment Limited working in the UK, whose main investment is focused on the provision of facilities for cryptocurrency mining.
It has a professional-looking website. They have provided a fair amount of details on their homepage and some video testimonial with a professional video presentation. My first impression was pretty good when I saw Coince for the first time. I like this kind of business template with sign of professionalism.
Min. Deposit: $10. It is interesting that there is no extra graphic element to show the investment plan, just the calculator on the main page. The calculator works perfectly, no pop-up window like in case of basic GC script.
Withdrawing is interesting. You should enter the amount and your e-Wallet ID as well. Then, the next step asks for PIN code. Then the confirmation message shows 24h time frame for processing.
Although it is a stretch too far to call them an obvious scam, there are some warnings regarding any business openly advertising cloud mining these days.
There is a lack of details on how they invest your money. It tends to be vague about the strategies used in their investment programs.
I have tried very hard to find out their investment strategies but they do not give adequate information on how their financial instruments work.
Let’s investigate the investment plans available on Coince. Well, Coince is less complicated as compared to many other HYIPs on the market.
Should You Trust Coince?
You should not trust this investment company.
The Coince is a high-yield investment program (HYIP). If you have read the definition of HYIP on Wikipedia, It is s a type of Ponzi scheme, an investment scam that promises unsustainably high returns on investments (ROI) by paying previous investors with the money invested by new investors.
The Coince is a fake investment company. From the official website, one can notice it is an HYIP investment scam that aims to steal your hard earned money. Why? There are a few red flags I managed to pick up.
#Red Flag 1 – New Site and Unknown Identity
Coince is very new and looking at the date of registry.
The registrant’s name shows up as JOSEPH MILLER. I have tried to search for that name on the internet and nothing shows up. This is a clear warning that the scammer does not want to reveal his or her real identity to avoid detection.
#Red Flag 2 – Ponzi Scheme
Coince offers offer referral commission program. It is a good way to make extra money. By inviting more people to their investment programs, you will instantly receive some ref commission from every deposit your referrals made.
For a real investment company, this would equal giving away the entire (if not more) profit margin. This is a typical trick from most of the HYIP on the market. They offer to reward “referral fees” to investors for bringing in additional members.
Coince pays affiliates a smallcommission on funds invested by recruited affiliates in their unilevel team depending on the investment plans.
That’s how a Ponzi scheme is operated. They recruit new members to sustain the pyramid scheme. They need “new” money to generate “returns” for the older investors by acquiring new investors.
It is a fraudulent investment scheme where they pay returns to its investors from new capital paid to the operators by new investors, rather than from profit earned through legitimate sources.
It is a pyramid scheme that typically collapses in the end because it requires exponential increases in participants to sustain the business model. That simply means the scheme cannot go on forever.
The Coince probably still pays their investors for now as the program is still relatively new on the market. When there is insufficient investment fund from the new recruitment to the older investors, the entire structure will collapse.
#Red Flag 3 – Vague Investment Information
Obviously, there is a lack of details on how Coince manage the money from the investors. Coince tends to be vague about the strategies used in their program.
I tried to look for more information “About” Coince, all I got is just a vague information. Furthermore, they are not backed by a real and verified trader. There is no proof and information at all on who are running behind the scene.
Given that Coince is an Investment Service, it should be regulated by the Financial Conduct Authority (FCA). There is, however, no record of the company in the public register.
This is your hard earned money, please do not be afraid to ask questions. A genuine financial professional will usually be happy to explain in detail the investment program they are marketing. Unfortunately, Coince fails to do so.
#Red Flag 4 – High, Unsustainable Yields
I have years of experience in investments. Historically, investments in most large corporate stocks return less than 10% per year. Usually, HYIP scams offer between 1 percent to 2 percent daily profits to its members.
The Coince discloses their investment plans with no aim to hide its absurd and unsustainable returns. The provided calculator shows how it earns you a 18% daily ROI under their only investment plan. To me, it is a total nonsense.
The funny thing is the investment plan returns a perfectly steady positive income percentage regardless of any external variable such as price volatility. Don’t you think this sounds a little fishy?
The ROIs that they claim on the official page clearly indicate that the investment is actually a Ponzi scheme or a junk bond that may never increase in value and has a high rate of default.
I am not a huge fan of HYIP programs because I am a low-risk taker.
I have tried some of the HYIPs before and I have been scammed once. I hence did a thorough research and only discover some of these “investment” scams operate and steal our money.
My advice to HYIP investors is always set a budget for investment. Many people regard HYIP investments as a form of gambling and approach the investment with a similar strategy.
It is also recommended to determine how much money you can realistically afford to lose, and never place any more than this at risk. In addition to setting an overall investment budget, many people like to establish “stop limits” as well, which means that when your profits reach a specific plateau, you will take down all of your investments and profits.
Diversify your investments. With HYIP being such a volatile investment, it is important to spread your investment capital around.
Placing all of your investment dollars into one HYIP programs puts you at risk of losing all of your investment at once. Having the money distributed across several HYIPs will increase the likelihood that sustainable programs will offset the ones that close.
In addition to that, I also wrote an article on How to Invest Online Without Being Scammed. This should serve as a reference when you look for a legitimate investment company on the internet.
For those who are high-risk takers, some high yield investment programs have the ability to generate exceptional returns, but only because the risk of loss is great. If you are willing to invest your money with high profit and high-risk investment scheme, Forex Paradise is another stable HYIP you can try. You can read the full review of this HYIP here.
There are many fake reviews on these HYIPs on the internet. You should never ever trust them as most of them are written by the affiliates who want to convince you to join as members and make new deposits to sustain the entire pyramid scheme.
I don’t like the reliance on a HYIP in order to make money. Instead, I do affiliate marketing (it’s different) and rely 100% on myself to build an income online. If you are interested in alternative ways to generate a real passive income online, you might want to consider running your own legitimate online business.
One powerful way to do this is through an approach called affiliate marketing. Affiliate marketing lets you earn money by promoting products from other companies. Any product you promote is going to be based on your opinion, and you are not required to stick with just one company.
If you’re looking for a legitimate way to make money online without trying to qualify for online surveys or getting scammed by HYIPs then Wealthy Affiliate might be what you’ve been looking for.
When I carried out my initial investigation on Wealthy Affiliate, it was purely to see if the company was legit for a few friends of mine, however, I didn’t imagine that I was going to make much or ANY money with them when I first got started, but as it turns out – I did.
Well, I’m happy to say that I’m not the ONLY one making money in Wealthy Affiliate, as you can see from the pics below, and you’d be surprised at HOW many other people are making money too.
If this is an area you’re interested in, you could learn more about this through my 7-day free email course or you could join the program here. The guide is an excellent way to learn all the ins and outs of affiliate marketing and to get started in the field yourself.
Extra Income as an Affiliate of WA
Just like Amazon, WA allows you to generate income as its affiliate member. Meaning, that if you make a sale, you receive a commission. If you don’t make a sale, you don’t make a commission.
The monthly investment to gain access to all the bells and whistles of WA is $47/month. You have the option to pay upfront and gain access to a yearly membership while saving on the total investment.
Here’s the commission breakdown for the sale of each membership.
- $175 upfront and recurring yearly commissions for the sale of an annual membership
- $22.50 upfront and recurring monthly commissions for the sale of a monthly membership
Here is a hypothetical breakdown of “monthly” income statistics for you based on just a 4-month recurring monthly membership commissions.
- 1 sale per day= $2,700/month
- 5 sales per day= $13, 500/month
- 10 sales per day= $27,000/month
I personally find I make more commissions through WA than Amazon as the training modules are solid and most of them stay with WA for more than a year.
Here are my recent affiliate commissions rewarded from WA. I generated $5,886 in my last 7 days and it’s actually ramping up over time.
As long as people are still a member of WA, I get rewarded the recurring monthly commissions. This is what I meant by sustainable income. There are more than three billion internet users around the globe. Making 1 sale per day is not difficult at all with the blueprints and the step-by-step guide from WA.
It’s Your Turn Now
Please share this article with your friends and family members so that they do not fall into the trap of another HYIP scam, Coince.
If you have any questions or comments, let me know in the comment box below.