What is Cointower.biz? Is Cointower Scam?
This article provides a distinctive review about Cointower.biz. Is Cointower scam? Or Is Cointower legit? Or is cointower fake? For today, these are the major questions we should concern ourselves with. Unfortunately, Cointower is a Ponzi scheme, well designed to siphon money from you in the long run. Continue reading if you want to find out more information about their scheme.
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How does Cointower work? Why we do not recommend it?
Cointower is a cryptocurrency company. Like any other cryptocurrency business, Cointower legit occupation is to offer Bitcoin mining services to the public. Their main economic activity is buying wholesale power at a cheaper price and then later on being able to retail it at a profit. It is this profit that the company claims that they are able to fund their payouts with. The basic concept is that you deposit your Bitcoins with them and you get to earn a very high interest rate on your principal deposit. Currently they have three broad investment packages The first one is a 10% package which you can be able to invest with a minimum of 0.001BTC or a maximum of 10BTC. The second investment package is a 12% daily package which you can purchase with a minimum of 10.001BTC or a maximum amount is 50BTC. The last package is a 15% package which you can invest with a minimum of 50.001BTC or a maximum of 300BTC. These interest rates are extremely high considering that they are offered on a daily basis. Maintaining such a high payout would render the company bankrupt in less than a month.
The true reality is that the company is running a Ponzi scheme rather than a genuine business. When you register with them for the first time they will use your principal deposit to pay off existing members. If done correctly, the Ponzi scheme will appear to be working smoothly with no one being the wiser. When the number of existing members becomes more than the new members, the company closes shop and makes a run with the members’ money. Cointower scam happens when they stop paying you all at once. The whole scheme is dependent on the availability of new members. That is the reason why they have two levels of referral program with one paying a 1% and the other paying as much as 5%. This is a clever way to acquire more new users.
This fact can also be seen on their homepage. The company is barely a week old yet the number of total accounts opened is 3467. This number may seem high, but there are some people who are aware of the scheme, but would rather take advantage of it rather than fight it. At first, the company will honor their payments to gather good will and this is where the clever ones get in on it, at the beginning to take advantage of the payouts then bail a day or two after benefiting from the interest. Making payments in the beginning will also encourage current users who are naïve enough to up their deposits. The more you put in, the more you will stand to lose. This is a website which should be avoided by all means.
As we said before, Cointower.biz is a ponzi scheme which will be collapse very soon. So, We recommend you to stay away from this site. If you are looking for good companies to make money online then you can find list of those companies by clicking this link https://onlineincomeresources.com/legitimate-work-at-home-opportunities
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if you have any question about Cointower or want to ask about any other companies, then please feel free to ask by dropping your comment below. We are happy to help you.