StatusCaution / Not Paying ( DO NOT INVEST / DEPOSIT )
(Check updates about CoinPower, below)
Coinpower is a hybrid Bitcoin faucet, where users can register, earn free Bitcoin, and optionally there is chance to invest and upgrade account to earn satoshi at higher rate.
It takes 6 hours to fill the 5 power units, and then the earning stops. So it's possible to claim the produced Bitcoin as long as every 6 hours, and then timer is restarted. Anyways, it can be claimed once a power unit is filled, which occurs at 72 minutes.
In Coinpower referrals commissions start off at 10%.
Optionally, it is possible to invest by upgrading Coinpower account: by depositing funds or using already earned balance.
More than one upgrade can be working on, though they do not add up in some benefits, like the referral income percentage. Yet, upgrade packages do add up in the extra satoshi provided by each package. Besides, there is limited stock and some upgrades are forever, but in the future there could be released upgrades with expire date.
For example, take the powerup 1 upgrade that will let:
- Add 142 satoshi per block, so that every 6 hours and extra of 710 satoshi is collected
- Raise the percentage you earn from each of your referrals Bitcoin claims ( to 15%)
- cost is 0.005 BTC
When purchasing an upgrade, the highest upgrade level's referral commissions percentage will always be kept on user's account.
Payments are sent out by an automated system in Coinpower, short after starting the process. Minimum wihtdrawal amount is 0.0008 Bitcoin, and 0.0002 BTC will be taken from withdrawal amount as a fee.
Register at Coinpower and start earning free Bitcoin!
-It looks like the basic power income has been nerfed. Investing in upgrades NOT recommended
- On May the 30th the basic power per block has been restored to 250 satoshi/block, but by other hand, the minimum withdrawal amount has been raised from 0.001 Bitcoin to 0.005 Bitcoin. This stops the withdrawals of small balances. Despite that it has been set an extra bonus week of 1000 satoshi/block (in the end of the week it will provide 175,000 free satoshi),in the end this is clearly insufficient to reach the min withdrawal amount. Therefore, ECoinLand recommends to do NO invest, to make no deposit to purchase any upgrade level. Just go on with free standard package and watch what happens in the next days.
- On June the 15th a withdrawal process was started, which has not been completed after 56 hours: https://www.facebook.com/ECoinLand/photos/p.1178993215478270/1178993215478270/?type=3&theater
Besides, ECoinLand's forum account can't post, reply or access private messages anymore: https://www.facebook.com/ECoinLand/photos/p.1178993715478220/1178993715478220/?type=3&theater
Despite 2 support tickets have been opened at CoinPower to address the two issues explained above, after 22 hours there is no answer.
At the same time, the extra bonus week has been extended, till the withdrawal limit is set back from 0.005 Bitcoin to 0.001 Bitcoin. It was promised that minimum withdrawal would be set back to 0.001 BTC by June the 13th, but so far it has not happened: https://www.facebook.com/ECoinLand/photos/p.1179017685475823/1179017685475823/?type=3&theater
- June the 20th:
The 2 support tickets to deal about: a) the payment delay, and b) question about why ECoinland access to forum has been limited/banned - have been removed, with no answer.
- The Bitcointalk forum thread opened by CoinPower admin is locked ... to avoid negative reviews and scam warnings? Another sign that Coinpower is preparing an exit scam:
As for now, investing/depositing funds in CoinPower is strongly discouraged, it smells like it will go as (exit) scam.