Cointellect Review : Some Shortcomings That Need To be Addressed But Not a Scam

Cloud mining services remain an interesting topic as the Bitcoin price makes up its mind on whether to move horizontally or vertically. Several cloud mining providers have halted their services for the time being, while others are fighting tooth and nail to remain (somewhat) profitable. Cointellect on the other hand, does not seem to be too affected by the Bitcoin price changes, although they are battling different issues of their own.
Note from the author : I am a paying Cointellect customer myself. The review of this service does not condone the services provided by Cointellect, as we are not telling you to ‘invest and get rich’. These are my personal experiences from using their service, and should not influence your decision making at any point.
Cointellect : A Brief Introduction
Ever since the inception of Cointellect in 2014, a lot has been said and stated regarding the company and how they operate. There is a huge camp of happy customers who have no issues whatsoever, and there is an equally sized camp of customers who are complaining about payment issues and not getting the mining software to work. None of that has influenced my decision to become a Cointellect customer though.
Cointellect has a simple mission : making cloud mining easy and profitable for all of their customers, regardless of their technological expertise in regards to cryptocurrency mining. In order to do so, Cointellect brings two different options to the table : mine yourself with their custom created software, or buy one of their mining contracts. Both of these topics will be covered in-depth in a few minutes.
The team behind Cointellect, according to their website, comprises of experienced industry professionals with extensive backgrounds in computer science, network security and finance. Three very important factors when it comes to creating and managing a successful (cryptocurrency cloud mining) business. None of their team member’s profiles are made public on the website, but more on that in a bit.
Regular payouts can make or break a successful digital currency cloud mining operation. If users are not paid on time, they will complain, which creates bad publicity for your company. Cointellect is struggling in that regard, but I personally do not see a reason to panic yet. I will explain why later on.
How I Became a Paying Cointellect Customer
In October of 2014, both Serge and myself attended Belgium’s first Bitcoin conference, called BC2B. One of the exhibitors at that conference was Cointellect, which was a new name to me at that moment. I did like their banners though, as it seemed to revolve around Dogecoin mining. I made a mental note to check out their website soon and see what they had to offer.
However, I did not become a paying customer until a few weeks ago, after going through a stack of business cards collected while attending various Bitcoin conferences in 2014. After opening up the website, and reading up on some of the feedback posted on BitcoinTalk (which is far from positive), I decided to purchase a Demo Contract, which was only 14.95 EURO. After all, never spend more money than you afford to lose, and I can spare 15 EURO just fine.

This post was published at Crypto Articles on February 2, 2015.