Coingrid is a website that is paying users up to 25% on a daily basis when they register and buy one of their products. The virtual products are purchased and then returns on the money spent on buying them will be credited to the user on a daily basis and can readily be withdrawn immediately the user hits the minimum threshold. The problem, however, is Coingrid is an “investment site” and all such platforms are not legit in any way judging from the nature of the project.
In this article, we will go over some important details about Coingrid, the earning methods, the pros and cons of the project and finally, reasons why you should be careful if you have plans to join. Without wasting more of your time, let’s dive right into it!
What is Coingrid, and How Does It Work?
Coingrid is an “investment site” in the sense that users have to register and spend money on the site in order to earn extra rewards on a daily basis. What makes the whole thing enticing to most, is the fact that the so called interest is credited to users on a daily basis and as such, people who spent more money to buy one of the products tend to earn the most.
However, platforms like Coingrid don’t always go as planned. So for that reason, it’s usually advisable to participate with caution bearing in mind that things may not always go as planned. Sorry for digressing for a bit, when it comes to how the platform works — the general idea is to register, fund your account with money from your bank account to earn up to 25% interest on the amount spent on a daily basis.
You fund your wallet, use it to activate one of the products and then, earn some returns on the money spent on purchasing the plans or products. That’s basically, how it works.
Other Earning Methods
Apart from buying one of the products on Coingrid, you can also earn more money on the platform by referring others. As expected from an investment site like this, users who refer others to invest as they like to call it, earn more money for doing so.
According to the information on the site, users who refer others get 25% of any amount spent by their invitees immediately the user funds his or her account and purchases a product.
The referral program also extends to the second level. You earn 25% from your own direct referrals spendings and 10% from the second level referrals. Therefore, being able to build a large, active team is a very beneficial move as it will boost your overall income on the platform.
Coingrid Green Flags & Red Flags
Like I stated earlier, there are certain green flags or things about it that are good and there are many others that are considered red flags especially for those who are just about to join the platform and they are as follows;
1. Coingrid is a ponzi scheme :– if you have been following my reviews for sometime you must have seen me on various occasions, mention what ponzi schemes are and why they can never be regarded as legit sources of income. Well for the sake of those just stumbling on my reviews for the first time, a ponzi scheme is an investment scam that promises to pay users huge amount of money when they deposit their own monies.
That’s exactly what Coingrid is and for that reason, it can’t be regarded as legit and it’s also risky because, all ponzi schemes no matter how long they last will eventually crash. There is no two ways about it and there isn’t really much anyone can do about it besides steering clear of them entirely.
2. Lasted for a while :- if you are the type of person who understand the risks associated with joining a ponzi scheme like coingrid but still join them as an early bird, then it’s also not safe for you at the moment. Reason being that, the site has been around for up to a week and for a ponzi site to last for up to a week, it certainly means it’s significantly gotten weak and could crash at anytime.
Therefore, joining Coingrid at this time might be a monumental mistake as the site is obviously weaker and closer to crashing than it was when it newly launched.
3. Coingrid is designed in a hit-and-run manner :– the high Payout structure, the enticing referral program and the registration bonus of 1,000 naira are all factors that should be considered before joining any so called investment site. Reason is, all the earnings they intend to pay users would be gotten from other users deposit.
So the higher the payout, the higher the risk associated with participating; because such sites crash within a very short while unlike sites that are less rewarding.
On the flip side, the few green flags or benefits I uncovered while conducting my research are;
1. Low minimum withdrawal pegged at 1,000 naira at the moment. Though most of these sites tend to change the rules as time goes on i.e. when they are no longer finding it difficult to meet up with the demand of paying huge interests on a daily basis.
Regardless of that, the low withdrawal threshold is a plus for anyone who’s currently checking to know if there’s any thing positive about the platform.
2. The registration bonus though a red flag in another way is a positive sign and smart individuals could utilize it to lower their risk levels. If you buy the 3,000 naira plan and get the first 750 naira reward, you can simply add it up to the registration bonus of 1,000 naira and withdraw.
That way, your risk will be greatly reduced, then you work towards withdrawing the remaining balance.
3. High Referral Incentive makes it possible for users who have the means to refer others make good money on the site. Therefore, the high referral incentive could be considered a plus for people who can refer others to the platform.
Final Verdict
Coingrid.site is not a legit earning platform giving that, users have to deposit money and purchase a so called, investment plan.
The fact that, there is no guarantee that anyone will be paid along the line and also, for the fact that, there is no known or declared owner of the platform are key indicators that the site is not legit. Any platform that has to do with people’s money should be formally registered and also, have a known owner, users can run to Incase things go south.
For the fact that, it lacks all these are key indications that the site is a scam and also, the fact that it’s been around for a long while further increases the risk of anyone who may decide to participate regardless.
Conclusion
We’ve come to the end of this review. If you are yet to join coingrid.site, I believe we’ve played our part to educate you on the reasons to probably reconsider your stance but if you still want to join and fund with your money despite all we’ve discussed in this piece, then by all means, feel free.
The only thing is for you to hope that things don’t finally go south after you’ve made deposits and also, participate with money you can afford to lose.
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