HYIPs – What Are They? My Experience and Their Negative Impacts on Cryptocurrencies – A MUST READ

DISCLAIMER: I am not a financial advisor. All contents on this blog are solely my own personal views and for Cryptocurrency Trading education/entertainment purposes only. Cryptocurrency Trading is very risky. Losses can exceed deposits. Enter with discretion.

“It ain’t what you don’t know that gets you into trouble.

It’s what you know for sure that just ain’t so.”

The very words of the great American writer Mark Twain used as intro excerpts of the 2015 The Big Short movie that punched me to the face. I should have seen this first and taken these words seriously. I had to explain a lot of what happened with my journey in HYIPs.

Image courtesy of Marktwainstudies.com

I need to write this article, I need an exit and freedom. I consider this a very personal diary. A closure to end my HYIPs journey!

Before I became who I am right now as a crypto enthusiast both blogger and a trader, before I met XRP, HYIPs are my dark past. Everybody has one! ;-)

I am going to assume that everybody that reads this article right now has no idea or just new to HYIPs. So let’s get into it first.

What are HYIPs?

HYIPs is the acronym for High-yield investment programs. I won’t discuss the full details about it but you may visit the 2 references here:

https://en.wikipedia.org/wiki/High-yield_investment_program

https://www.investopedia.com/terms/h/high-yield-investment-program.asp

HYIPs usually in forms like investment programs in the span of 30 to 100 days ROI (return of investment) and they usually or most of the time requires you to invite a lot of people as your referrals to earn you more money. In fact that is the core of HYIPs to invite people for money making!

In my own saying, HYIPs are portals for easy money. Ponzi scheme-inspired programs no matter how they add spices to it. When I say they add spices to it, I mean they will put variations like they use advertisements as products, they don’t need to invite referrals, etc. etc etc, they are still the same. Time will come that the bottom level will explode and can’t be sustained anymore. Then they disappear. Then a person who entered cries in despair and suffer depression when he or she has put in a lot of money!

HYIPs email you a lot. They are relentless.

Image screenshot of my email just this morning at the time I am writing this article

Until you block them they will keep sending. Just a matter of refuse refuse refuse!

In my hometown, I personally saw the negative effects of greedy HYIPs on people. Who can forget the The Aman Futures pyramid scam! This happened in 2012 when the scam company was in its final bubble bottom month.

At least 100,000 families are duped. Watch the video below:

https://www.dailymotion.com/video/x7g61s5

Why people fall into these programs?

I even ask it to myself a hundred times. Is it because of ignorance? Yes. But ignorance is bliss! Yeah but not all the time. This is one of the examples that ignorance or simply lack of knowledge especially in financial sections can people fall. To be financially literate is just the same as to be wealthy. Health is wealth is also the same.

When money talks, everybody listens. Always 90% at the time. Agree? ;-) This world made money as the god more than the living God already. I’m not preaching here.

Why I fall into HYIPs?

Now I go to my self again, why I fall when I knew more than those ignorant people do? My answer is survival. I have to earn for a living and I see HYIPs can give me that, I became lowly. I have to swallow my pride when your own stomach is hungry and your family is on the line. I just need a capital out of my savings wherein the endless battle with my wife started (all peace now by the way) ;-). Because of HYIPs my relatives lose confidence on me, some of my friends have joined and I lose their friendship too because of HYIPs.

I worked as a normal Virtual Assistant from the year 2011 until 2019 just last year where I lost my biggest client. That gave me stress, I went into depression, how can I provide for my family? I haven’t finish college and I don’t know other type of work except online. My family is growing and I lose a job. I had one actually left but it’s not enough. I blame my lack of work drive and responsibility! I spent most of the time playing online games as the results/time of my work went lesser and lesser. That’s it. I had to move on.

Before I became a crypto enthusiast, I never heard or know these coins exist but I do heard Bitcoin before and I was like they are just a joke. All of them! Actually, on the good side, I should be thankful that I have joined and learned HYIPs because I have learned and got fascinated about cryptocurrencies. I can’t go on more about how I learned crypto, that would be my another article soon! :-)

HYIPs have opened the doors for me to learn more and more about cryptocurrencies.

Okay, alright, I need to become more serious now as this article I am writing is a very sensitive topic and I know people that are in these right now may hate me and say bad things against me. But I am only going to state my personal experiences and the websites that I have joined only.

The slogan or an example of an HYIP website shows below. They say very good things. They are promising. They are wolves in sheep clothing and they are worst than the Crypto Whales or just the same.

STAY AWAY! Period. Better find a real job.

There are hundreds of them, no there are thousands, no again, hundred thousands or even millions!!! God save us all.

I will now share in details the list of HYIP sites that I have joined. Please fasten your seat-belts. :-)

I will categorize them into 2 Types. My winners and losers. ;-)

My Winning HYIPs – Paying Ones

I will not discuss who’s the owners, how the earnings are made, their FB groups, etc.

MyBitcoinTube

Mode of cryptocurrency transactions are in BITCOIN.

They are still open but not paying anymore. I invested capitals here. I deposited across my 2 accounts, 1 for my main which is me and 1 for my wife’s account as my referral.

The deposits I made from the start was last October 13, 2019 to the last one on February 21, 2020. A total of $327.80 US. Please refer my excel image above.

Meanwhile, my total withdrawals for my main account as you can see in the history logs below.

And my wife’s account as my referral which I also included the money deposited in the image.

A total withdrawal of the 2 accounts resulted to $582.36 US.

In fact I still have some money left on my main account but it turned into purchasable balance not eligible for withdrawal!

I just left it there as a remembrance! ;-)

Conclusion:

Total Capital: $327.80 US

Total Withdrawn: $582.36 US

Net Profit: $254.56 US from July 2019 to May 2020.

Result: WINNER

MyRrevTubePTC

Mode of cryptocurrency transactions are in BITCOIN.

They are still open and paying but I discontinued. I have decided to stop joing HYIPs anymore!

I show here also the total capital deposited across my 2 accounts, 1 for my main which is me and 1 for my wife’s account as my referral.

So a total of $200 US capital deposit.

Total withdrawn in my main account is $194.64 US.

Total withdrawn in my wife’s account is $68.58 US.

Conclusion:

Total Capital: $200 US

Total Withdrawn: $263.22 US

Net Profit: $63.22 US from November 2019 to August 2020.

Result: WINNER

My Losing HYIPs

Again, I will not discuss who’s the owners, how the earnings are made, their FB groups, etc.

PTCSHARE

The site is still open but to make the long story short, DON’T JOIN!

Mode of cryptocurrency transactions are in BITCOIN.

Conclusion:

Total Capital: $11 US

Total Withdrawn: 0! A HYIP turned into gambling site. Hard to explain.

Net Profit: Negative $11 US. :-(

Result: LOSER

luckyfish.io

Mode of cryptocurrency transactions are in BITCOIN.

This site is a special case, they are not HYIPs related in any case but a gambling site, you can see there that I still have my crypto balances intact like DOGE coins. The site is still open and legit. I love playing poker here and that’s the reason I joined. Sadly, gambling is bad so I repented and stay away from this now. Thank you LORD! :-)

Conclusion:

Total Capital: $12 US

Total Withdrawn: 0! A gambling site.

Net Profit: Negative $12 US. :-(

Result: LOSER

neptune-mining

This site is the most controversial one from all the HYIPs I joined! At first they paid me including my friend whom I have invited, to my dismay, as we put bigger money into their website, they suddenly vanished leaving without a trace! :-(

This is why I mentioned earlier that my reputation was hurt and some of my friends turned their backs on me. Damage has been done. I need to continue with my life. Joining HYIPs have been a great lesson to me…

They are dead since my last attempt to withdraw my earnings!

Their mode of transactions are in BITCOIN and Payeer.

These are the proofs of my withdrawals at first. They pay instantly specially when using Payeer!

So I keep rolling my capital as it gets bigger then suddenly I wasn’t able to withdraw my last earning!!! This is the moment where depression starts to occur, sleepless nights.

This is the screenshot of my last deposit. They are so clever! They even put my name besides the “current depositors” which are all fakes. Brilliant guys! I fall on their traps!

Screenshot time was December 18, 2019 before their vanishing. :-( huhuhu

Conclusion:

Total Capital: $70 US

Total Withdrawm: 0! A scammer cloud mining site!

Net Profit: Negative $70 US. 😦

Result: LOSER

Here’s my personal video I created just before they became a scam last December 2019. I spoke in my native dialect but I manage to put some captions below my video. I think this video is their only review on the planet.

Hello! I’m Ken and here’s my son Nathan.

In this video, I am going to make a review about Neptune Mining.

So this site is about cloud mining, a type of an investment website.

They have started since, as you can see now it’s moving, last June 3, 2019. As you can see now, days online they are 198.

Then you can also see the total accounts as well as the active accounts.

Actually they are very updated. You can see right now the current deposits as well as the recent withdrawals.

I will try to refresh the page so that you will see the latest update and indeed it changed.

Someone just deposited right now a total of $600.

So what is this website about? That is the first question that comes to our minds.

Actually I already heard about them last August 2019 but I didn’t joined yet at that time because for me they looked like a scam.

The minimum deposit to invest is $10 only.

So if you ask me how they are going to use all the money that have been deposited?

That’s a big question. To answer that, the Neptune Mining Company is like a Cryptocurrency Mining platform and moreover they focus on mining Bitcoin through the total money deposited by the total active accounts.

So what are the payment methods to make deposits here? Answer is a lot.

We can choose Payeer, Litecoin, Dogecoin, Perfect Money, Bitcoin, BitcoinCash, and Ethereum.

Paypal can’t be accepted because it won’t accept Cryptocurrency at the moment.

Personally, I have tested the Neptune Mining using Payeer. This is my Payeer account.

I have also used 2 Bitcoin wallets, one is Coins.ph here it is which I used right now and the other one is Blockchain.

Actually I have tested the said 3 wallet portals. I made 6 times deposits to this site and so far so good. Stop at 3:22 mark…

MyAdsFactory

This is the last HYIP that I put some money with. Mode of cryptocurrency transactions here are in BITCOIN.

They are now dead. So dead!

The last screenshot I have from them before their disappearance was on New Year’s Day, January 1, 2020. A big bang of scam!

Luckily, my nature of not accumulating earnings (letting the balance go bigger and bigger) has saved me from this another scam site!

I was able to withdraw $11 US just before they disappeared. :-(

Conclusion:

Total Capital: $15 US

Total Withdrawn: $11 US

Net Profit: Negative $4 US. 😦 Even small, it is still some money. Money is money.

Result: LOSER

Closing thoughts:

Actually, I have joined a lot of other HYIP sites but I didn’t include them here. For a simple reason that I didn’t invest or put some money on them. They will just take some space on this article now that we are heading to 2,000 words now! :-)

I have another HYIP website that I will feature on a separate article so stay tuned in the future!

My Verdict:

STAY AWAY FROM THESE TYPE OF WEBSITES! PERIOD. Some are legit but most of them are scammers in the long or even short terms. Trust me please, I would have not written this article if I haven’t experienced all these.

I tally my grand total deposit at $635.80 and total withdrawn was $748.58. My grand net profit is a positive $112.78.

Even though I didn’t lose a dime in my overall experience with HYIPs, I wasted a lot of time from July 2019 to August 2020. I could have find better jobs. But at least the experience is priceless! It paved my way in better understanding how cryptocurrencies and blockchains technology work! I got insights beforehand after joining HYIPs.

Image courtesy of Technofaq.org

I repeat once again. I turned my $635.80 to $748.58 by joining HYIP sites from July 2019 to August 2020. I could have earned more if I knew Crypto Trading at that time-frame.

Stay away from HYIP sites at all cost! Crypto Trading is better than HYIPs. You have full control over your fund in Crypto Trading while you literally give your money to someone else by joining HYIPs.

We lose money and waste a lot of time by joining HYIPs!

Their Negative Impacts on Cryptocurrencies

Now here we go. The usage of cryptocurrencies as means of dealing transactions online or even offline is legit and legal. In fact, it is trending now that the world is suffering COVID19 pandemic.

A person that has 0 idea or new to cryptocurrencies, in layman’s view, will automatically judge the cryptos as a SCAM because of HYIPs. That is the hard truth! People will judge by their experience.

The king coins Bitcoin, Ethereum, and the rest of the altcoins gang led by XRP are helping us in a way to transact off the governments reach/control and protect our identities as individuals. But to the point that illegal transactions are made using cryptocurrencies, that is hurting the crypto world! These lured the bad guys in doing their nasty yet illegal things! That concerned the governments across the world.

One of the best example of using cryptocurrencies illegally is the Silk Road black market! I don’t have time to expound it.

Even the famous Satoshi Nakamoto didn’t see his invented and famous Bitcoin to be like this, I am sure of that! He should have put that in his whitepaper. Or he knows it already but he didn’t include this as cautions on his famous digital coin’s whitepaper?

This concerns me a lot because HYIPs are using the blockchains and cryptocurrencies technology to do their illegal things! They lure those poor people especially those who don’t know much about cryptocurrencies. I give kudos to the IMF on their video tweet telling people about them. Good job.

People must be FINANCIALLY LITERATE right at this moment, at this hard times!

Please feel free to share this article of mine to your friends and family.

Thanks a lot for reading until the very end of this article.

Have a great day ahead and as always, keep safe and God bless! :-)