Ummm… I was a bit lost for words when I first came across BitExCon, and still am, but it seemed reasonable and I invested my bitcoin anyway. It’s been paying for over a week now, but the question is should you invest bitcoin or not?
Well, as BitExCon is clearly a HYIP, whether it is actually run by an ex-con (former criminal, for those that don’t know) who really cares. All HYIPs are scams, and in any case, it seems that maybe the name was an oversight, or simply a little joke from an experienced admin.
Many of my regular readers would have already noticed it on my HYIP monitor, and many have even invested. However, as it is clearly a HYIP, as HYIP investors we must keep in mind that one day it will simply stop paying and disappear with the bitcoin. If you are new to HYIPs, check out my basics page for more info.
There are 3 plans available based on how much you invest, but only the first plan is feasible. Up to 10 BTC will get 3.0% daily which will see you get to 100% ROI in about 33 days. It is possible it will run for that long, but probably best to aim for a lower return and release your deposit. There is a 5% fee to release your deposit, but keep in mind that there is a also a minimum of 0.01 BTC for this fee, so you really need to think about how much you want to invest and whether this HYIP is worthwhile.
The site is bitcoin only, and the minimum investment is only 0.001 BTC which is designed to trap lots of low principal investors as you can’t release the principal due to the fee as previously discussed. Profits are paid hourly into your account and the minimum withdrawal is 0.0001 BTC.
I rate BitExCon as average, but I still feel it is investment worthy; however, probably only for the more experienced investor who understands compounding, and the principal release fee structure. I feel the risk is high, mainly due to the overall downward trend in the HYIP industry (which seems to be improving) as well as the low investment minimum versus the high fee for principal release. This is a sign of admin more interested in trapping investors than building reputation the hard way; i.e.- paying solidly.
As always, you can track the progress of this and all my investments on my bitcoin HYIP monitor and never invest bitcoin you can’t afford to lose