Frequently Asked Questions – All your questions answered
Q. Can you furnish details on who owns and runs CoinSpace?
A. Coinspace is a fully taxable EU company with reg. No: C70466 and VAT number: MT22473219
The director of the Company is Mrs. Mojca Plut. She is the main supervisor of our EU mining plant where initial profits for the mining are generated. Until today it was invested more than 900.000 EUR into the EU mining facility itself and a lot more will be invested in near future.
The other member of the board is Jerry Plesko with a lot of experience in a classic business as well as multilevel marketing. He built his own printing and publishing house Tiskarna.NET with approx. 50 employees. Achievements in MLM: established a group of once almost 5.000 and later around 15.000 distributors in less than 1,5 years in his former network marketing companies he used to work for.
The rest here are the people who are solely building the network and helping in expansion of new markets. Some of them have various functions very beneficial to the company, that is why they are also put under NDA and their role is mainly connected to market expansion or managing or servicing the mining operation.
The rest of the company consists of the accounting department, support department, financial department, marketing department, IT and design department and compliance department.
Coinspace Support Team
Triq Il-Kappar Mosta MT, MST-4003 Malta
Q How old is the company and where is it registered?
A. The company were registered in May 2015. The registered office is in Malta Europe.
The company also operates 3 operational offices handling, support, legal and administration out of Munich Germany, Istanbul Turkey and Ljubljana Slovenia.
Q Who are the people behind the company?
A. A consortium of private investors and industry leaders.
Q Why isn’t the company management made available on the official website?
A. Some of the owners behind the company are currently involved in other ventures and are restricted from disclosing themselves at this point in time. The company will however announce it’s core management team in the near future.
Q What’s the company vision?
A. To become one of top 10 traded crypto currencies within a 5 year period.
Q How many mining facilities does the company operate?
A. The company currently operates 4 mining centres in Europe and Asia
Q Can you give me the exact location of your mining centres?
A. To maintain sensitive information from our competitors, we do not disclose such information.
Q Will the company open more mining facilities?
A. Yes, as demand grows so will the amount of mining facilities.
Q Will I be able to mine Scoins myself?
A In the near future Coinspace will release its own Block Chain, allowing its members to mine the Scoin
Q When my mining contract finishes after 365 days, will I need to renew my mining contract?
A. Mining power, obviously cost money as there are lots of costs involved such hardware, electricity, location and maintenance. Each contract runs for a full year and should you wish to continue renting the mining services from Coinspace, you would need to renew your mining contract.
Q How does Coinspace make profits at this stage as it’s yet to release its own blockchain?
A. Coinspace mines on average 5-7 of the most profitable crypto currencies that’s available on the open market, ensuring it’s members the highest potential profits.
Q What determines the Scoin’s value increase or decrease?
A. Essentially Supply and demand. However as the Scoin is promoted throughout the world by our referral marketing partners, demand increases.
Q When will Coinspace list it’s own Scoin on the open crypto currency exchange market?
A. To secure it’s members best interest, the company will do it’s public listing based on company liquidity, merchant facility infrastructure and market demand .
Q What’s the difference between my available coins and my held coins?
A. Your available coins can be sold back to the company twice per month. You choose the amount and there is no limit to how many of your available coins you may sell.
Your held coins are coins you have chosen to not sell during a trading period (2 times per month) and choose to save until the company goes on a public currency exchange where you may sell them all or continue to hold them in your savings account.
Q Can I sell the minded coins in my available account at any given time back to the company?
A. Yes, you may. There are two trading periods per month: 1-14 and 15-28. Any time you choose to sell the coins in your available account, your coins will be sold at the end of each trading period and the funds will be placed on your “sold coins account”. You may then use the funds to buy additional products and services or withdraw the funds to your debit card.
Q Is Coinspace an investment opportunity?
A. No. We are not an investment opportunity! You are purchasing a legitimate cloud mining service which may produce profits. You may also earn additional profits promoting our referral program.
Q Can I buy multiple packages under the same position ?
A. Yes, you may buy multiple packages from the same position. Each package will run for a 365 day period Support
Q How can I get in touch with support?
A. In your back office, you can click the support icon and go from there or you can email support at firstname.lastname@example.org
Q Can I change my email address or password?
A. Yes , you can change your email and password . log into your backofice , select your personal information under profile, change and save!
Q I have forgotten my password and am unable to log into my back office, what do I do?
A. Click the Forgot Password link on the webiste, type in your username or e-mail address, answer your secret question and an email will be sent to your registered email with your account information.
Q What languages do you currently support?
A. The company currently supports English, Italian, Russian, Slovenian, Croatian, Serbian and partly Spanish, French and German.
Q What will determine you supporting additional languages
A. Depending on growth in a specific market the company shall add adequate support.
Q How long should I expect to receive an answer to my email request?
A. The company will endeavour to answer all emails within 48-72 hours. However some requests that may involve several departments could take longer.
Q Why dont you provide phone support?
A. We do offer phone support in terms of payments, however all other support requests are handled via email support.
Q Do you offer a mobile/cell phone supported website?
A. This is in the process and will be launched during Q4 2016.
Q How do I pay for my products and services to the company?
A. You may chose between 3 methods: Wire transfer, Bit coin transfer and Credit card payment
Q Are there any additional charge when paying with a credit card?
A. Our current payment provider is one of the mayor Banks in Thailand, meaning all payments are currently charged in Thai Baths. So, unless you live in Thailand there will be a currency exchange fee that your local bank may charge you.
Q When will you support other currencies for credit card payments?
A. During Q4 or before, the company expect to offer several of the main currencies
Q I have enough funds on my credit/debit card but my transaction wont go through, why?
A. Coinspace and it’s payment merchant provider uses 3D to reduce credit card frauds. If your card have not been registered for 3D secure payments, you wont be able to use your credit card.
Contact your local bank if you have questions in relation to your credit / debit card being registered for 3D secure online payments.
Q Where do I find the payment information if I like to do a wire transfer?
A. Log in to your back office, select the tool key in the menu and then select Payment instructions, where you will find the information you need
Q How long will it take before my mining starts after I have paid for my package?
A. If you use a credit card, it will start the following day. If you pay using a wire transfer, it will happen the day after your payment has been received by the company. To expedite the process,
we advice you to take a screenshot of your wire transfer and then email it to
email@example.com with the following subject line: ID XXXXXX (your Coinspace ID number) payment proof – Please active mining package.
Q Can I sign up directly with the company?
A. No, you will need to find a personal sponsor. Your sponsor will be your point of reference in terms of leadership and support
Q Is there any age limit in terms of joining your referral program or to buy one of your mining
A. Yes, the minimum age is 18 years of age.
Q Will my registration information remain private with your company?
A. Yes, any and all information shared with our company will be protected according to international privacy standards. We will not disclose, share, sell or rent your personal information to a third party.
Q Will I need to personally introduce other people to the company website in order to earn any money?
A. No. However promoting the opportunity may increase your earnings.
Q How do I qualify for commission?
A. If you like to benefit from the Different team bonuses, you will need to personally buy a “minimum mining package” (300 EUR) or higher and personally introduce 1 minimum mining package on your left team and 1 minimum mining package on your right team.
Q Are there any monthly autoship requirements?
A. No there are no monthly autoship requirements.
Q How much does the company pay out in commissions to it’s distributors?
A. The company have a 50/50 revenue share model , where for every Euro that comes in from it’s products and services in sales, the company will share up to 50% of it’s sales revenues with it’s distributors participating in it’s referral marketing program.
Q How are commissions calculated and when do I get paid?
A. Commissions are calculated from 00:00 Fridays to 23:59 Thursdays PST and paid the 8 days later on a Saturday.
Q How do I receive my commissions?
A. All commissions are deposited into your ewallet and from there, you can request a commission withdrawal to your debit card that you can apply for from the company.
Q How do I get my ATM debit card?
A. Log in to your back office, select the banking icon in the menu and then select “apply for debit card”. Fill out the required application form and upload the documents along with your passport/ government issued ID / drivers license and a utility bill that’s no older than 3 months. A utility bill must prove your address and could be either a water bill, electricity bill, bank statement or credit card statement (mobile phone bill will not be accepted). Remember that your address and name
must be the same as the account holder in Coinspace.
Q Is there a cost for the debit card?
A. There is a 17 Euro fee, that will be subtracted from your first commission payout.
Q How long will it take for me before I receive the debit card?
A. Provided you have submitted the correct information to the company and you have earned your first commission that’s above EUR 17, the company will process your application and send it to your registered address. Expect anywhere between 7-30 days, from processing your application.
Q How long will my debit card be valid and are there any costs associated with using the card?
A. The card have a validity of apps 2 years, where after you will need to renew your card. There is a 2 EUR transfer fee when transferring from your eWallet to your debit card. Depending on your debit card (Papaya, Union Pay or Investment Bank Master card) there are certain card fees that you can see when logging into your debit card account.
Q I can see from the website you offer 3 different debit cards, what card should I apply for?
A. If you reside in Europe, select the Papaya card. If you reside in Asia we suggest the Union pay card and the rest of the world would either be an Investment Master card or a Union pay card, depending on your preference.
Q How often are commission numbers updated and displayed in the back office?
A. Twice per day
Q During the weekend I see that my daily commission updates are displayed slower than normal, why is this happening?
A. During weekends when commission calculations are done you may need to wait to see updated numbers. As the “computers” are taking a snapshot of your commissions, whatever happens during this period, all sales are filtered, accounted for and updated in our database until the final commission runs have been completed, whereafter you will be able to see updated numbers (normally on Mondays or latest Tuesdays)
Q May I promote the Coinspace opportunity worldwide?
A. Yes you may except from the countries not mentioned in the drop down menu in the sign up form.
Q Am I tax liable?
A. You will be tax liable to the country and state you reside in. It is your responsibility to file your taxes with your local government and we strongly suggest you do so on time according to your local governments requirements..
Q. Is this a (MLM) Multi-Level Marketing?
Ah! That’s an interesting question, I could answer YES! It is! But! I would suggest that it’s more like affiliate marketing, affiliate marketing is where you use the system to generate an income, the system supplies and delivers everything.
MLM or Multi-Level Marketing infers we need to buy, store and deliver a product and CoinSpace is not about that. But CoinSpace does use some Multi-Level Marketing ideas because they are the very best way to help develop the business and more importantly YOUR business.