HYIP is actually the acronym for high yield investment program and these so called HYIPs are usually ponzi schemes where early investors profits are paid from the deposits made by new investors.
What are HYIPs?
HYIPs are investment schemes, hedge funds, investment pools offering a very high return on investment. Some are legit and managed by professionals. However, an investor can’t know for sure what program is legit and what investment programs are ponzi schemes.
So, it’s good for the investor to do some research before deciding where to invest. Contact the HYIP Admin and ask for support, ask questions about the company by email or by phone. See how fast the support is and if you’ll receive the desired answers.
Check whois.com for the domain name of the website. Search on different discussion forums to see what other investors think about it, consult a hyip monitor and read various HYIP blogs.
How to invest in HYIPs
High yield investment programs are usually accepting online payment systems and sometimes Bank Wire.
When a HYIP accepts bank wire it can be a sign that that investment program is legit because you need to have a real company and provide identification documents in order to open a bank account.
Ego Pay and Perfect Money are the most used payment processors in the HYIP industry. Solid Trust pay is also used by investors.
Is investing in HYIPs safe?
No, investing in HYIPs is very risky and there is also a so called golden rule: “do not spend more than you afford to lose.”
The main reason is because the majority are ponzi schemes so you never know when a HYIP might turn into a Scam. This is why is recommended to do a serious research to findout more information before deciding to invest in a high yield investment program. It is recommended to use Perfect Money because you can withdraw money from your Perfect Money account directlyinto your Bank Account. There are many e-currency exchangers that you can use but always choose from the list present on the Perfect Money website.
Don’t forget to register an account on different related discussion forums and always read what others have to say about an e-currency exchanger or about a high yield investment program.
Check your local laws to get information about Tax. Perfect Money is a payment system from an offshore jurisdiction so you will not pay taxes for your money kkept in your Perfect Money account.
However, when you will withdraw money from Perfect Money to your Bank Account you may be eligible to pay taxes in your country.