HYIPs Investments or Scams?

High Yield Investment Programs (HYIPs) appear at first to be the secret to unlimited wealth and fortune, but as you can guess that quickly changes. However, I have found myself still using them in a very limited fashion as a generator for my digital currency exchange. I will discuss that in a later article. First, you need to understand the concept of e-currency. It is a digital currency that is traded and used for purchases on-line. In fact, it has no national boundaries, is handled in many different currencies and is very liquidible. While all of these factors make it a very versatile tool for the investor, it also makes it anonymous and therefore very attractive to the scammers and thieves. Be warned it is almost impossible to know whom you are dealing with or what they are actually going to do with your money. There are many types of e-currencies but I prefer e-gold for many other endeavors than Help.

Hopefully, my experience with HYIPs will help you to make wise decisions about your use or non-use of them. I was very hesitant when I first came upon HYIPs but the rewards were so tempting that I had to learn more. I surfed through site after site before opening my e-gold account. Then, I was ready to jump in and just like anyone who jumps in headfirst I ended up with a headache. Most of my initial investment of a hundred twenty dollars went to two sites I believed to be professional and well-maintained. As the old saying goes looks can be deceiving, after investing fifty dollars in each site I waited with the extreme anticipation for my first pay out a week later. I could not wait for my hundred percent plus profit. The week came and went and needless to say, I am still waiting to this day. In Fact I never received a penny nor even had an email return from either site. I licked my wound and decided not to give up. After about two more weeks of research, I came upon a forum that let investors rate the HYIPs. It was called the Ministry of Gold (MOG). I monitored it for a couple of more weeks, and then I was ready to try another hand. This time I invested another hundred dollars. However, unlike previous time, I invested five to ten dollars in twenty different HYIPs. To my surprise, all of these paid me. In fact, my initial investment doubled in the first week. YES, I was excited, too. But please continue to read this before you run out and invest in HYIPs. Over the next two months, I continued to invest ten to forty dollars in twenty-five different sites. Also, I kept investing extra money into one site, TradeInvest. It had been around over a year and paid an eighty percent profit for four weeks. Two months later, my original two hundred dollars had grown to over six hundred dollars. Soon, many of the HYIPs I was investing ten to thirty dollars in started to disappear. This did not phase me because of my sustain profits from TradeInvest. Low and behold come one-day tradei9nvest did not pay me. I checked the MOG forum and found that they had stopped paying everyone. To this day, they have just completely disappeared.

I was left with only about fifty dollars less than one fourth of what I originally started with. It was all in one HYIPs called prime fund. There is a silver lining to this story. Prime fund is still paying me one to three percent of my initial investment which is about sixty percent a month.

In conclusion, the many hours I had to spend in research, analysis, and follow-up for HYIPs was not worth the rewards. I do think there is money to be made with them but it will take someone devoting all of his/her time on a continuous basis to adjust to all the scams. I only recommend HYIPs as games not investments.

Steven Parsons, The Savvy Investor
http://business-investments.cashhosters .com/index.htm

---

Bearish or Bullish?

If you are interested in stock investing and the stock... Read More

Maniac Investment

Let's first understand what maniac means. According to Webster a... Read More

Overbought/Oversold

Has your broker ever told you that a stock is... Read More

Retirement is Never Urgent Until

If you're like many people, your retirement savings have not... Read More

401(k) Plans

I've been in and interested in the stock market so... Read More

Larry, Moe and Curley, Investment Brokers

Larry, Moe and Curley were sitting in their favorite restaurant... Read More

Six Principles of Successful Investing

1. Begin investing immediatelyProcrastination is the number one enemy of... Read More

Preparing to Invest: How to get started

Investments can be a source of great potential earnings. The... Read More

Investing in Car Dealerships: How to Do It Right

The financial characteristics of the automobile dealership are attractive:". .... Read More

Numismatics are for Collectors, Not Investors

As a precious metals investor, you may heard much about... Read More

Pros & Cons of Investing in Bonds

What are Bonds?A bond is a debt security, by which... Read More

Art Investing for a Financial Future

When we think of investing we probably conjure images in... Read More

Remembering TEOTWAWKI and Learning from It

Its only been about 5 years since we had major... Read More

Mutual Fund Returns May Not Be As They Seem!

Arthur Levitt, during his tenure at the SEC, experienced many... Read More

When It Comes To Investing, Asking The Right Questions Can Help You Make The Right Decisions

Are you ready to open your pathway to financial independence?Well... Read More

Profitability And Stock Turn Rate

The inventory of the typical store represents the largest single... Read More

Now is the Time to Invest for Your Retirement!

Yes, it's the time we've all been waiting for?tax season!... Read More

Rules of Simple IRA Your Business Needs to Know

A Savings Incentive Match Plan for Employees plan, better known... Read More

The Differences Betweeen the Wealthy and Everyone Else

I recently received an e-mail from a young lady who... Read More

Keep Stock Market Investment Profits

Have you had one of those huge investment winners ?... Read More

Invisible Mutual Fund Fees Erode Your Returns!

Many investors think that investing in mutual funds is free.... Read More

Annuity Investment - The Whole Truth

Do you ever feel like you haven't been told the... Read More

Volatile Oil

The Light Crude Continuous Contract fell from $67.70 a barrel... Read More

The Demise of Buy & Hold

Based on consistent results I think Buy & Hold should... Read More

Focus Your Investments on the Long Term

"All human power is a compound of time and patience!"... Read More

Variable Annuities

You know all the articles you read about annuities that... Read More

Hedge Fund 101 - Make Money with Hedge Funds

Investors are always looking for the best investments that will... Read More

What If You Absolutely Positively Could Not Lose - Would You Play the Stock Market?

Seniors on fixed incomes face a unique problem. Where do... Read More

The 8 Biggest Mistakes When Designing Portfolios - and How To Avoid Them

Are you as good an investor as you think? Do... Read More

Approaches to Investing

Here is a small summary of the three major approaches... Read More

Will a Falling Dollar Derail Your Plans for Retirement?

How much are you willing to pay for a tank... Read More

How to Setup a Profitable Trading Business

In my opinion trading is the most exciting and best... Read More

Find a Methodology and Minimize Investment Madness

There are many reasons to be investing these days, and... Read More