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Written by
4 weeks ago

I ran into this BNB project this week and gave it a try.

The project has started on the 16th of August this year (2021).

Let me first warn you: This is a high yield, high risk project. The ability to claim your BNB rewards is dependent on the BNB balance of the project (see also the project’s contract code) and thus of participants.

However I deposited some money in it (money I am afford to loose). Until I get my rewards and compounding some of it (this is re-investing part of it) I am fine with this.

The project itself is fairly easy to manage and use. Basically the following high level steps are needed to participate:

  • Connect your Wallet

  • Choose a plan

  • Deposit your $BNB

  • Get those $BNB rewards coming !

I have written a how-to article about connecting a MetaMask wallet and this story can be read here: Using and configuring MetaMask

On the landing page you can see the following numbers:

  • The total amount of $BNB deposited

    Note: This is not the current balance

  • Total referral earnings

    This is the total amount of earnings from referrals

Note: This is not from your referrals but from all participants

Furthermore there are links to the Dashboard, the project’s Contract and the Telegram chat group. So the UI looks pretty simple.

Let’s deposit some $BNB on the dashboard!

Dashboard

When you click on “Dashboard” you will get to the following page.

Here you can connect to you Wallet and you will also see an overview of the different packages or plans of the project in which you can invest.

As you can see there are 4 different plans:

  • “forever” earning 2% each day

  • 40 days earning 4% each day

  • 60 days earning 3.5% each day

  • 90 days earning 3% each day

Note: You can deposit multiple times into the same plan. The timer for that deposit starts at 0 days and for that deposit you will earn x% for y days again. In fact the deposits run in parallel.
For example you make a deposit of 1 BNB in the 40 days plan. You will earn 4% for 40 days. When 6 days later you deposit another 2 BNB in this 40 days plan, you will earn 4% of that 2 BNB for 40 days again.

You can click on a plan and deposit your amount of $BNB into the plan:

Just fill in the amount $BNB you want to deposit and hit “Stake”. Approve the MetaMask transaction and you are ready to earn some $BNB.

Note: The minimum amount of $BNB is 0.05

You can also click on the +/- icon to see the APY based on compounding once a day

Overview

On the top right corner you will see your earnings and your history of deposits and withdrawals.

You can harvest your earnings by clicking on “Harvest”. You can re-invest this again (note in case it is higher than $0.05 BNB).

History

When you click on history you will get an overview of your deposits and withdrawals.

Affiliate program

There is also an affiliate program where you can share your referral link to your crypto friends.

Note: In case you want to invest in this project you can use my referral link: https://bnbfactor.com/?r=0xf28404eeC38e9a7e1669Ac95D9CDD3664cbDB7c2

Balance

With such BNB Ponzi projects I always look at the current BNB balance. You can see its current balance here: https://bscscan.com/address/0x68ACdE780C94901b0Ab1d149FE27f3cAe2228677#analytics

And then click on the “BNB Balance” tab.

As you can see the balance is still going up at the moment of this writing and that is good. However when you plan to invest I advise you to check the balance first!

Conclusions

  • The UI and project is very simple to use

  • There is not much documentation about it

  • I was able to withdraw my earnings

  • The BNB balance is still good at the time of this writing

  • 1400 members on Telegram

  • Not much marketing around this project yet? Looks like a one man’s job

  • Sponzi scheme, your earnings are paid from additional investors

  • Initial deposits are not returned, only through 2% dividends you will earn your initial deposit back!

Summary

Last words

As always this is not financial advice! But just some crypto investment platforms I currently use and have experience with. Do your own research before investing and never deposit money you cannot afford to lose.

Feel free to ask me questions.

In case you want to participate within this project you can use my referral link: https://bnbfactor.com/?r=0xf28404eeC38e9a7e1669Ac95D9CDD3664cbDB7c2

To sponsor / support me you can use my BNB wallet address: 0xf28404eeC38e9a7e1669Ac95D9CDD3664cbDB7c2

Other interesting links: https://linktr.ee/rvdkimmenade

Join my Telegram group:

https://t.me/crypto_and_defi where we all can learn from each other!

or shoutout channel: https://t.me/crypto_and_defi_shout

Thanks, happy days and be safe !

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Written by
4 weeks ago
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Comments

Bookmarked this for now. But I know I need to learn more about this ASAP. Thanks for this advice.. 😁😁😁😁 . just kidding... Thanks for the information.

$ 0.05
4 weeks ago

Happy to tell you more about yield farming and dapps on BSC and Polygon !

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4 weeks ago