Saturday, March 15, 2008

Have you heard of HYIP?


Have you heard of HYIP? It stands for High Yield Investment Program. It is basically an investment program that seems too good to be true. By offering high interest rates return for money invested, such program easily attract people who want to strike it rich instantly. The interest rate may range 5-250% a month. Originally such program is conducted in real life but with the recent advent of making money online craze and e-currency facilities, more and more of HYIP programs are emerging on the internet.

Did I not mention that the offer of HYIP seem too good to be true? I found an online HYIP program, that pays 1.1% daily interest for investment of 5-1000USD during 180 business days. By doing simple calculation, I found out that with an initial investment of 5USD, I can get raw profit of almost 200% after 180 business days! Before you start asking me to provide you with the URL of this program, you have to take note that many HYIPs have been proven to be scams, they either disappear with your money or make it difficult for you to withdraw your earnings until the big day of their disappearance. Therefore you can also associate HYIP with high risk investment plan.

There are probably some genuine, stable and interesting HYIPs out there. Their business models are usually based on investing customers' money on forex, sports betting, metal trading and other profitable businesses.

How are the scam HYIPs operated? The scam HYIPs are usually Ponzi schemes, they do not really invest customers' money on any businesses but they will create an illusion that they are generating revenue by investing in undisclosed business ventures. The truth is, they will pay high interest rates to existing customers from newest members' invested money. This is done initially to gain members trusts, to create a stable image for themselves and to encourage even more investments from the greedy masses who want to make easy money. In the end, they will encourage members to invest the interest earned too and almost all the members at the bottom of the scheme will not be seeing their hard earned money anymore.

E-currencies has made it possible for new HYIP to emerge on the internet and attract members from countries all around the world. The collection and payment of funds have also been made simpler, there is simply no contact between members and HYIP runners. Undoubtedly, the security risk is also higher in this scenario because the average web users certainly wouldn't enjoy tracing scam HYIP runners.

Therefore, when it comes to e-currencies and personal information on the web, you ought to be more careful. Be especially cautious when you are promised something out of the ordinary, because all scams sound that way.

Take note that I don't mean that all HYIPs are scams. I have found some HYIPs sites and also some HYIPs monitoring sites, and apparently there are a few stable and honest HYIPs on the internet now. However I am reluctant to share the details here lest I unintentionally lead you to scam programs. Besides, I could not vouch for any of these programs as I myself do not really have the funds to invest. I may run a review of the HYIPs monitoring sites, if the respond to this post is good.

Before ending this post, I ask that any readers who have experience in HYIPs to come out to comment on this post and share your experience. You can share the genuine paying HYIPs or caution other users from joining a program that smells of scam. Would really appreciate that! Thank you and happy investing :)
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Money said...

I have lost at least $5000 from my credit card and now im paying the loses. Don't ever trust this HYIP, Autosurf, Forex (most of the platform only take the money). Do money from your blog. That is the best you can do in online. For me, HYIP is a perfect scam. 99% of the companies will run away within 3 month of operating. The balance 1% will last for 6 months.

borakbola said...

i agree with money.hyip is scam.i was once addicted to this pyramid things.once there was a autosurf program called 12dailypro.i made big money from there lasted almost a year :):)

Search Engine Panel said...

Good post.

HYIPs are part of the scam-world and fall in line with MLMs and pyramid schemes.

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BobbyT said...

hi money, borakbola, and search engine panel, thank you for the feedback

as for the rest of you, you can see an example of HYIP scheme has been posted here without invitation, I wonder whether the person who posted that comment even read this article! If he does, couldn't he smell my cautiousness towards HYIP scheme to try to promote here?

iCalvyn said...

i tested before a HYIP, and get my self burn, loss about $1K

BobbyT said...

Wow, there's so much bad experience with HYIP, guess I won't be posting any link to such program then... said...

Those early birds might be able to earn some money, but this is SCAMS for sure, and people who join later will definitely get burned.

Dont promote this kind of stuff...there isn't such free money falling from the sky.

Home Business Blog said...

They are all shady if you ask me. Great way to lose 100% in 30 days :D

BobbyT said...

Yeah, indeed there are more safe ways to invest one's money with the initial capital plus returns guaranteed.

At first, I was going to review a HYIP site I thought was rather professional-looking and honest but now I would not do it for fear of leading some internet users into a scam.

If you need some ways of making money online, forex with honest companies is recommended but you need to research and learn carefully before throwing your hard-earned money into it.

Anonymous said...

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