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QoinPro Review – Free Coins – Really?

QoinPro is one of the crypto currency faucets which are called scams by some, but the actual scam/legitimate status of which is difficult to define. The description which fits this operation best is arguably one provided by one of the bitcointalk posters, who chimed in on the thread about QoinPro. He called it a “waste of cyberspace” and indeed, from a profit-oriented crypto currency enthusiast’s perspective, that’s precisely what it is.

The operation itself is indeed legitimate, in the sense that the company listed in the About Us section of the site does in fact exist. Other than that though, nothing at QoinPro makes any sense.

qoinpro.com

What exactly does QoinPro offer?

In name at least, it is a wallet service, which hands its clients some virtual currency for free every day. That’s right. One isn’t even required to make use of the wallet service. Signing up is free and as soon as one completes the registration process, he is ready to start receiving minute, trace amounts of Bitcoin, Feathercoin, Dash, Litecoin, Peercoin and Virtacoin every day. Digitalcoin, Dogecoin, Earthcoin and Infinitecoin unlock once a specific period of time passes. To unlock the final coin the Worldcoin you must get credits.

According to qoinpro.com, “credits can be used for unlocking features or coins. For every SMS you sent, you will receive 10 credits in your account. You can send as many SMS messages as you like. The cost for the SMS is automatically charged as a one-time fee to your phone bill.”

Free Coins at QoinPro

That’s not the only way one can earn virtual currency through QoinPro though. Following registration, every QoinPro member gets a unique referral link, which he can use to bring others into the fold. For such referrals, one will then receive a given percentage of the coins his referred peers earn. This referral system goes 7 levels deep, but its earning potential shouldn’t be overestimated: according to forum posts from actual QoinPro “clients,” nothing ever amounts to anything with any sort of significance at the site.

Overview of QoinPro's Referral and Payout Structure

About QoinPro

In the “Our Mission Statement” section of the site, QoinPro state that they’re aiming to introduce new people to the crypto currency scene, to spur the adoption of crypto currencies and to educate those interested in this vertical. Exactly how they aim to accomplish all these goals is something of a mystery though, because nothing they do seems to actually move things forward in this direction. Listening to feedback from the community is another one of their stated goals, but given how nowadays their support staff hardly ever replies to those seeking assistance, this angle is a write-off as well.

The future goals of the operation are unsurprisingly murky though. In the section dedicated to this subject, the above covered mission statement is essentially repeated. It’s obvious that these guys don’t plan on doing anything differently in the future from what they’re doing right now.

QoinPro Reviews

The funny thing is that back when the bitcointalk.org thread for the operation was launched, in February 2014, some users actually asked about the business model of the faucet. The main promoter then told people they had very concrete monetization plans for the future and that the money they were handing out on a daily basis, came from certain private investors. Unfortunately, nothing became of that dangled business model and people slowly but sure grew disillusioned with the operation, for several reasons.

First of all, the pace of accumulating crypto-currencies through this obviously unsustainable model, was too slow for most. Secondly, no one seems to have ever withdrawn any coins from QoinPro. Whenever someone attempted to make a withdrawal, the wallet address to which the withdrawal was supposed to head was deemed to be “not validated.” The bottom line is that even those who have a “balance” at QoinPro, only have it in name. There is no actual money there. That would indeed explain how the operation has managed to survive this long, and how its business model is in fact indeed sustainable.

The question inevitably arises though: what exactly do the people behind QoinPro stand to gain from this setup then? Some have speculated that the operation is nothing more than a funnel to collect the email addresses of those interested/involved in the crypto currency vertical, to then re-sell them for targeted marketing. Logically, that may indeed be the driving force behind it all, as nothing else seems to make any sense.

Bitcointalk.org has provided an accurate picture of the evolution of the operation over the years. From its beginnings, when people were still enthused about its offering, to present day, when it is widely regarded as useless at best and as a scam at worst.

Reddit has a few threads on QoinPro too, and none of them are kind to the operation. The conclusion drawn through all these channels seems to be that QoinPro is indeed utterly useless.

So is QoinPro a Scam?

While the main pitch of the site may seem to be too-good-to-be-true at first glance, at a closer look, it is not really that. There is no cloud mining, HYIP or pyramid scheming involved, and it doesn’t look like these guys are out to steal people’s money.

The QoinPro site does feature an About Us section, which offers plenty of information on the company and people behind the operation.

Based in Hong Kong, QoinPro Ltd. has been launched in February 21, 2014. The company address is 1206, Eastern Commercial Centre, 397 Hennessy Road – Wan Chai, Hong Kong S.A.R. QoinPro Ltd. is in fact registered in Hong Kong, under the business registration number 62774936-000-02-14-0. The Managing Director of the operation is Wouter S. van der Schagt, who had founded a couple of webhosting companies in the Netherlands and Hong Kong, before QoinPro.

First registered in January 2014, the qoinpro.com domain name does indeed belong to Wouter S. van der Schagt, and the registrant information is public. The global Alexa rank of the site was 94,556 at the time of writing, which makes it surprisingly popular indeed, especially in Nigeria, the US, India, Russia, and Brazil among other countries.. The authority rank of the domain is 35/100 and it doesn’t seem to have a spam score attached.

QoinPro Review Conclusion

QoinPro is in a special league of its own when it comes to legitimacy. The operation is not a scam is the classic sense of the concept, as it doesn’t actively steal people’s money. It is quite useless however, and as some have speculated, it may be nothing more than an intricate ploy to collect email addresses from those involved in the crypto currency industry.

Update (November 12, 2017): New feedback we received from QoinPro users strongly indicates that QoinPro is a SCAM. They may be stealing money from their users. Remember, even if you do open a free account with them, we would NOT recommend sending them any money!

Review Verdict: QoinPro is a SCAM!

Blacklisted Site: QoinPro.com

If you feel like you’ve been scammed by QoinPro, please leave a comment below sharing your experience.

Now, if you want to make real money with Bitcoin, you’re invited to visit our Day Trading Guide to learn about legit cryptocurrency investment routes to consider.

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41 Comments

  1. the-bitcoin-journal.com

    Was clearly a kind of ponzy… never deposited anything there. Just wanted to se where this was going. No surprise once again.

  2. RON ACORD

    I opened an account with Qoinpro and began depositing Bitcoin since they said they would back pay for the hard forks. I never received those then when I tried to withdraw my Bitcoin they wanted a huge fee. Finally I decided to go on and pay the fee but I got a message that they couldn’t verify the bitcBitcoin wallet. No one else has a problem, now the website is down and supposed to be up today, but so far nothing.

  3. duna lili

    The website is currently undergoing a massive upgrade and will be back online on or before March 30 (Friday). This is a week later than expected, apologies for that. All issues relating to forks / withdrawals and faucets will have been resolved. Thank you for your patience. If you need any withdrawal processed quickly, please contact [email protected]

  4. Marc

    I joined qoinpro back in the beginning I had always felt like it was a scam had made it to sr ambassador level cpuldnt do withdrawals . Tried to log in a year ago the site was gone decided to look at thee site aagain 2 weeks ago had all these coins in their site just new design .never spent a dime on it sso decided to withdraw all the coins . Granted I’ve been screwed in many different programsx before well some coins withdrew fast took 9 days for my doge and 11 days to get my bitcoin. I’m shocked I actually got all my withdrawals by day 11 . So shocked now just more confused then ever

    • dagstar

      Hi,

      I deposited 1.28148 BTC, end of December 2017, on their platform on my account.
      I have been sent several mails since December 28 to claim the tokens LBTC, UBTC, SBTC and B2X and I have not seen anything appear on my account.

      In addition, I received nothing for the following ranges:
      B2X – Bitcoin SegWit2x – December 28, 2017
      BCO – Bitcoin Ore – December 31, 2017
      BCP – Bitcoin Cash Plus – 1st January 2018
      BTA – Bitcoin All – 1st January 2018
      BPA – Bitcoin Pizza – 1st January 2018

      Excited not to receive the forks, I made a withdrawal of my bitcoins on January 09, 2018.
      The payment has never been made.
      I contacted QOINPRO several times on the support and the tweeter and I have absolutely no news of this withdrawal.

      Do you think it would be useful to launch a cybercrime group procedure with the Hong Kong authorities?

      Report Cyber ​​Crime:
      police.gov.hk/ppp_en/02_er_room/index.html

      Dagstar

  5. Denozavr699

    they are swindlers, they lure “free coins” that can not be accumulated even to pay for the commission, and the charging of coins from a fork Bitcoin, in the end, the coins that you will get to the purse of Qoinpro will be stolen, and you will not get a feedback. Contact the police.

  6. Pary

    same problem.I processed a withdrawal on 23rd NOV AND ANOTHER ON 28TH NOV.Now Dec 8th and nothing received in my requested wallet address.I have emailed support numerous times and to their twitter account.No action but will update if there is action.be very careful….

  7. SEKHON HARPAL

    I WANTED TO WITHDRAW MY 0.1 BTC FROM QOINPRO, BUT EVEN AFTER 10 DAYS NO TRANSACTION IS COMPLETED. WHEN I SEE MY TRANSACTION IT SHOWS AS WITHDRAWN BUT I DID NOT RECEIVED IN MY WALLET. I SUBMITTED NUMEROUS TICKETS, BUT TO NO AVAIL. PLEASE TELL ME WHAT SHOULD I DO AS I RECEIVED NO RESPONSE FROM THEIR SUPPORT DESK AS WELL. I THINK THAT THEY ARE FRAUD.

    • terry

      hi thomas,i would also like to join the class acton suit.hk police made a warning about this site 2-3 weeks ago.they are definitely criminal, they will steal any deposits made.the fool has no idea about creating bad karmas.we might meet him in hell one day.

      • Paul

        Hi Terry.
        Can you please put me include on the list for joining the class action suit if you hear from Thomas.I would appreciate any help you can give me on this.Thanks very much. Pary

  8. Mario A Brito

    They stole 0.52 BTC from me. QoinPro is either a scam. The owner, wouter van der schnag, is either an incompetent fool. Or both. He doesn’t respond to emails. Support tickets are useless. Withdrawals are handled manually. It is a horrible place.
    Please watch this video:
    youtube.com/watch?v=SAY5ssDjZYc&t=375s
    Do NOT deposit your BTC with QoinPro. You may be sorry. You’ve been warned.

  9. aak47

    Hi,
    Update on this issue > I did end up receiving my my bitcoin from the qoinpro withdrawal,
    These are the steps that I followed before I received it:
    (1) Emailed [email protected] from the email address that I used to register on the qoinpro website. I received no response for a few days
    (2) Registered to support.qoinpro.com with the email address that I used to register on the qoinpro website. Then I clicked on Tickets to get my support ticket reference number.
    (3) Sent a tweet to twitter.com/QoinPro containing my qoinpro userid, support ticket reference number, and withdrawal date and time, stating that my withdrawal did not come through please resolve.
    (4) Approximately 12 hrs later I received a response via twitter and received my bitcoin into my wallet. Transaction was successfull.

  10. aak47

    WARNING!!! WARNING!! STAY AWAY !!! STAY AWAY !!! I also decided to give them a try a while back because they were offering 25% bonus on Bitcoin Gold. Bitcoin Gold never showed up, and no bonus!!!!! I also tried to withdraw my Bitcoin, and it disappeared from my account! No transaction details, and Bitcoin never arrived in my address!! It’s now been 5 days since I attempted to withdraw. I have sent emails without any responses. I’ve also emailed the CEO / Managing Director listed on their website: Wouter van der Schagt . Still no response!! Appears to be a scam and I also would NOT recommend. I will post any positive updates from Qoinpro here.

    • Ron

      They got me when they said they would pay the hard forks. I guess I got greedy and got bit, transferred the majority of my Bitcoin to them.

  11. TulasiKrishna Inturi (@tki92)

    1. I had opened a Qoinpro account on user id ‘intutkri2’ around six months back

    2. I had received many promotional emails from [email protected] regarding deposit of BTC for claiming BCH and BTG.

    3. ***At last I think I had fallen prey to their emails and deposited some amount of BTC to claim my BCH and BTG and that’s it after that I never received a promotional mail from them after the deposit

    4. ***I had sent many BCH and BTG claim mails to [email protected] and [email protected] and contacted them on email, Twitter and Telegram many times but no reply or response from them.

    5. ***I had submitted support tickets also at support.qoinpro.com under user id ‘intutkri2’ but they were closed without any proper resolution

    6. ***After checking my qoinpro BTC address 1K5JDqh7LVWEV1uvmQhbdKBdyN86iTZWfm on blockchain it is showing zero balance whereas the amount is supposed to be X BTC and there were also many transactions which I had not carried out. May be they are carrying out insider trading with the BTC deposited bt people like me and generating profits for themselves.

    7. ***I had withdrawn X amount of BTC from my Qoinpro (user ; intutkri2) BTC address 1K5JDqh7LVWEV1uvmQhbdKBdyN86iTZWfm to my personal BTC address 154UWpunPRyVT9LPfgrdcQKWj6276rrnMB but till now I had not received it.

    8. ***Websites : qoinpro.com and vdschagt.com (is never working)

    9. ***Company Office Address :
    QoinPro Limited
    1206, Eastern Commercial Centre
    397 Hennessy Road – Wan Chai
    Hong Kong S.A.R.

    10. *******Will update this post once I receive a positive reply from Qoinpro or Mr. Wouter

    11. ***So, Dear Friends ! Please decide whether this is scam or legitimate on your own diligence. I had put down my own genuine experiences with Qoinpro.

  12. TulasiKrishna Inturi

    I had sent many mails and many support tickets to qoinpro and even wouter regarding my BCH and BTG claims but there is no response even they had closed my support tickets without any resolution. My user id is ‘intutkri2’

    • TulasiKrishna Inturi

      I had sent many mails and many support tickets to qoinpro and even wouter regarding my BCH and BTG claims but there is no response even they had closed my support tickets without any resolution. My user id is ‘intutkri2’ Will they keep their promises?

  13. RW

    Contacted support several times. No reply for 18 months. Eventually got a message saying/showing coins never sent. Coins sent from old ‘coinwallet.co.uk’ website that was about to close because of attempted hack.

    Other altcoins sent from ‘coinwallet’ at same time were transferred without a problem so not sure what happened. As it was relatively small amount decided to ‘write it off’.

  14. Robert wyatt

    Thought I deposited small amount of Feathercoin with Qoinpro. Money ‘never arrived’/dissapeared. Not sure what happened?

  15. nmrn

    I failed to get a withdrawal. After depositing crypto into QoinPro and then setting up a withdrawal, I am still waiting for them to appear in my wallet…

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