For those of you who don't know what these are they are also known as "HYIP's" online. The famous HYIP's are flashy sites that offering big payouts for little investments, of your E-Gold usually.
I am pretty new to these programs but have for the last few months been investing in a few of these myself. Nothing big usually just $1 worth of E-Gold. Now most of these sites offer different plans for example "Orient Investment" which I just finished investing in, offers a number of different plans but mine was 300% profit in 8 days for my $1. When my plan was finished I got $3 total back. Not bad considering I did nothing right? Wrong. I know how these programs work now. Usually, not always but most of the time first time investors will be paid once, maybe twice or 3 times before they lose their investment.
The crooks running these sites want people to feel secure in their program, until they make a large deposit then boom its gone. Also they take your investment to pay the next person waiting for payout. Sounds familiar right?
The old pyramid scheme back up and running again. Although the temptation of easy money is hard for some to pass up or at least it was for me so if your going to try one of these programs, then I recommend the following steps to lessen the chances of you being ripped off big.
These are a few things to follow IF you are going to try these programs out:
- Don't invest in pay pal investment plans. Pay pal has strict policy against this and will freeze your account.
- Your more likely to get payed if you invest in a HYIP that is pretty new. The reason for this is they want more investors to join so they have to be paying for a period of time before a lot of people will join.
- Only invest what you can afford. You have to remember these are not exactly legal programs so if you invest a ton and lose it then your pretty much out that money.
- If it sounds to good to be true then we all know it is!
Thats about it when it comes to the do's and don't. You have to keep in mind these are illegal programs because if they weren't then everybody in the world would be investing in these but if you can't resist and have to try one out them I recommend no more then $1 investment and follow the tips above.
