Hey everyone,
I have been involved here in the cryptoscene for some time and wanted to give a run-down of one of the more interesting aspects of the cryptosphere.
So lets do it!
Lets make a boatload of cash without doing anything!
I am going to explain how I am doing it, with as little sarcasm as humanly possible.
What is a HYIP?
HYIP is a fancy acronym for High Yield Investment Program. This is easily googlable but to save you the trouble I will lay it out.
So the thing here to keep in mind is that these are Ponzi schemes or MLM (multilevel marketing techniques). While we all know that in the USA and probably other nations these are illegal and immoral to be involved in, especially without the consent of investors. the crypto scene has been fraught with these types of things since the beginning.
These are highly lucrative if you get into it early and take profits as you go. Now these aren't without some risks as these websites are probably not backed by much and whatever business plan they lay out may or may not be a real thing.
These are all things to keep in mind.
There are actually huge communities of people who love these things and are willing to risk a ton of cash to be able to turn a quick buck.
The one I will be focusing on today is Laser.online, as this is a perfect case study of one.
In the sake of transparancy and community I would like to disclose that this is my referral link and if you don't want to use it, I have provided a non referral link at the bottom, but I would quite appreciate it if you did! It's no cost to you and helps to feed a starving college student
Why should I care if its a scam?
Well because its a profitable scam. Same reason that anyone would invest in something that offers insane returns.
For example, as a case study, I have included one of the HYIPs I have been involved in for a little while now. It offers 12% returns on your deposit over 12 business days. For example, I invested 118 dollars.
photo from my account
As you can see, this is actually going to mature in 16 days total. That is because from today's date (9/10/17) there are exactly 12 business days until that time (sucks it doesn't payout on weekends, but oh well).
So 12% on this amount of money is exactly 169 dollars and change.
This is insane returns. You would never get this in a bank, and while all the crypto is down right now if you are looking to make some money in the downturn. Especially since china is all up in the air.
What are the benefits?
So that's approximately 50 dollars from doing exactly nothing. Just sitting by and watching as money grows. Now there is a large level of trust involved here but that's where risk mitigation comes in. More on that later.
They have live support (sometimes) and private chat rooms that allow me to ease my mind when concerned about my investment.
I will be updating my Steem as I go if something goes south but for the mean-time, Ill show you some of the other aspects of this program.
I have actually already received a payout from this company and reinvested in (started with 100 and 5). As the smallest amount of money that can be invested is 5 USD. I personally started with 5 dollar investment and saw that it did indeed pay me 0.60 cents for each business days. After my second deposit of 100 dollars I got 12.60 which I reinvested to bring me to the current balance that I intend to let mature.
The security on the website is actually quite robust or at least it seems that way. To be completely honest, they have higher security than most exchanges as they require bound IPs, a special color to withdraw your dividends along with the normal insane password and such. They also offer anti-key logger on screen keyboard for the password and withdrawal pin, which I have never seen on any other platform. As I am not a security expert, I have no idea how secure this thing actually is - but it seems stronger than an exchange which gives me some peace of mind.
Lastly they have an amazing referral program, which gives you like 5% of a user's initial deposit and 3% of their referrals deposit to 1% (I believe) of those people's deposit.
Whats the catch?
So heres the issue. The website uses a lot of mumbo-jumbo to say that they do a lot of different things. There is no telling what they actually do to acquire these funds, but I always go into these things assuming that they are just re-distributing funds. While that sounds horrible, really I'm just being skeptical so as to not be disappointed if they cut and run.
What I am really saying is the catch is there is a huge amount of risk. This is way above investing in a promising coin or participating in an ICO with a little known dev team and no community. This is truly trusting that a website is doing what they say they are going to do. However, I have indeed had success here, and wouldn't endorse it unless I believed in it.
However, I would like to say that this company has quite the web presence, as they advertise on whattomine.com along with some other pretty significant banners. Also, they do have a community with which you can engage in in the chat through their website.
Another interesting aspect for this project is that they seem to have pretty solid reserves and transparency. This is unlike any other HYIP program I have been involved in, as they usually just payout until they don't and then all of a sudden disappear. On the dashboard they have these graphs that seem very convincing. I have blurred out all the usernames for their own security
As I said before, I have been in a few of these things, been ripped off by them, and also lost a ton of cash trading coins. This one is by far the most convincing one to date. I honestly have never seen anything like it. Providing how much investments they have per day and then actually how much they distribute. Its quite fascinating at least to look through even if you aren't going to invest.
The Bottom Line
Basically, and I hate to burst your bubble, but if you want to make money by not doing anything you're going to have to do something.
That something is take risk. We all risk things daily, such as storing our passwords in our chrome browsers (if you do) or leaving your coins on an exchange. Either way, its trusting in something that it won't get hacked or scam us out of our hard earned money and/or way of life. Even participating in an ICO or buying a cryptocurrency is a terribly risky endeavor. If you want to make tons of money doing nothing and take no risk, you may want to consider giving up. Even the most immoral things such as robbery or selling drugs involve doing something and large amounts of risk.
This is simply another, admittedly risky venture. But the risks are balanced by the rewards, in my humble opinion. Please dont take my word for it. Do your own research, the choice is yours!
As I said, I am invested in this program, but I highly encourage you to do your own due diligence to decide if you can take the risks and if the potential profits will satiate that risk.
So quick calculations to give you an idea, if you invest 1000 dollars you will make 12% on every business day. So that's 120 dollars a day. You can even divest (withdraw) daily, or reinvest which is inherently more risky.
In comparison, consider you make anywhere from 0.01-0.06% per YEAR at large banks such as Chase or Wells Fargo. Which is (0.06/12=0.005%) that same 1000 dollars would net you 5 dollars a year. Mind you, these institutions are backed up by fiat and FDIC and such, but there's a reason you make these terribly low yields. They get to gamble with your money and you make pennies.
In my opinion now its my turn to do the same, and make my own mistakes.
As always, I would encourage you to not invest more than you would be willing to lose, especially because there is no telling how long it will last - but you may as well turn some profits in the mean time. At least I am doing it!
(https://laser.online/?referrer=togethercrypton)
This post contains my referral link (if you do not wish to use it feel free to delete my username from the referrer section but I would quite appreciate it if you didnt!
If you liked this post please throw me an upvote, follow along, or try out my referral link if you are interested in investing. Please note, I am not by any means an expert on crypto or this program and am currently invested in this as well. As always don't be dumb with your money, do your due diligence, and make informed decisions.