I was introduced to cointellect.com 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
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.
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.
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?
