This is why I am all about multiple streams of income and have been building an online portfolio for the past 18 months. I started with my first revshare and built up my account there for the first 6 months. I then added a second program which I funded wtih my first withdrawals from my first program. This enabled mw to start making passive income from 2 sources without the need for an extra expense. I then applied that method to my next programs that I added and this is the main process in my online portfolio building.
Mistakes to avoid when working with HYIPs
June 20, 2016 / Leave a comment
I usually avoid High Yield Investment Product programs but I have worked with a few in the past and I have had my fair share of being scammed by some. This is why I stopped working with ANY of these scams. They all are.
Hopefully those who read this will take note of these mistakes and like me and others learn from those with experience in this arena.
Mistake 1: Spending too much too soon…
Some hyips are known to open for business and just a day or two later they vanish with all the deposits so you might be better off starting really easy. That could help but unlike revshares, with hyips a single test spend isn’t enough. Some HYIPs will pay you for small spends, but when it comes to real (larger) spends you won’t see a cent of profit. And you can’t rely on rating sites feedback because sometime they get better treatment from HYIP admins!
Mistake 2: Not testing the withdraw function: Has this ever happened to you: you’ve invested in an attractive HYIP, your profit is growing day after day, everything is going nicely … until you decide to withdraw some of your profit. Either the withdraw function doesn’t work at all, or your withdrawal is forever pending. After I make my initial test spend with any HYIP I do a test withdrawal. I don’t invest any more funds until the withdrawal is successful.
Mistake 3: Focusing on individual programs instead of the overall plan.
You really cannot trust these programs so you have to spread your risks between a few.
Focus on the overall plan and not on individual HYIPs. To me this is a fantastic philosophy for managing a HYIP portfolio. When you think about it, putting our faith in one, two or three individual HYIPs doesn’t make any sense given the nature of these businesses. So taking this philosophy I would much prefer to have 10 programs paying me $100 each to a total of $1000 than having 2 programs paying me $500 each. It would be even better to have 30 programs paying a little bit each. Obviously it’s a lot harder to find 10-30 solid programs instead of focusing on 2 beloved HYIPs. But to me focusing on the overall picture and building multiple income streams helps me sleep at night.
Mistake 4: Not getting your original spend back quickly: I’m sure you’ve heard this a number of times before. Always get your seed money back as soon as possible. Given the fact that most HYIPs tend to fold within 6 months, this does make sense. Figuring out when to start withdrawing your profit is more of an art than a science. For example, should I deposit a large amount and start withdrawing straight away? Or deposit a small amount and start withdrawing after one month? This really depends on how long you think the HYIP is likely to last and how long it takes to get your original spend back. To date, all HYIPs tend to either slow right down: like one of the original cyclers that has been around for 2 years and now have a 200 day+ cycle time; or they go out of business within 2-6 months.
Mistake 5: Getting greedy: Making money with HYIPs isn’t really the problem. It’s keeping the money in our pocket that becomes difficult. The temptation to reinvest every single cent to keep our profits growing is so great… My ideal HYIP is one that isn’t in the spotlight but has been paying successfully for a while (4 months or more).
Mistake 6: Saving up for one big withdrawal: Some HYIPs seem to struggle when making large payouts. I recall a HYIP that became very popular all of a sudden after being rated high on one of the rating sites. Within 3 weeks a number of large investors had started requesting withdrawals. It quickly became apparent that the admins didn’t have the funds available to make the payments. It’s possible that they were scammers who weren’t really investing the funds, but it’s all possible that they’d invested all the funds and didn’t have enough liquid funds to honour the withdrawal requests. Either way rumours flew and things spiralled badly. They were out of business within a week after. I find that making small, regular withdrawals is often better for everyone. At the end of the day, making money with HYIPs is as much an art as it is a science. By setting and following your own rules you can dramatically reduce your risk of losing money and hopefully significantly tip the balance in your favour to make some serious returns.
Mistake 7: By far the biggest mistake people do when approaching hyips is that they think that because it is currently paying, then it is not a scam. People seem to think that something becomes a scam only when it shuts down and stops paying.
This is not true. A scam is in fact anything that has been set up in such a way that at some point it will fail to provide the results it has promised and the inability of any given program to be sustainable and to live up to expectations qualifies it as a scam. Of course there are businesses that fail due to external circumstances, but when the whole structure of the system is wrong and depends purely on new money for payouts, there is really just one word for this and that is simply: SCAM.
Unfortunately 99% of all HYIPS are in effect Scams.
Mistake 8: Very important lesson to learn is that NO program that is purely automatic or passive in its structure will ever be reliable enough. There is NO such thing as Easy Money, even though many people seem to pretend that being in revshares or online marketing of any kind is really easy money, don’t fall for this. Those who are really successful and making good money online are the ones who spend all of their time working on their business, promotion, research and building their networks, so if you believe that you can just dump 1K into a hyip and it will make you rich in a few months, just remember this post. Nothing will make you rich on automation. You can only achieve this if you’re dedicated, work your butt off and become a leader. So with this in mind, good luck with these ultra high risk programs and don’t say you weren’t wanted.