22nd May 2016: Scam – DO NOT INVEST!
No messing around here, BTCHourly proudly announce on their website that they are “The best bitcoin investment“. However, with investment plans that are essentially impossible to understand, let alone work out how much you will get paid, you can’t help but wonder if it’s true.
Well, no, of course it’s not true. Putting your bitcoin into a HYIP is probably the worst way to invest bitcoin, but it is a fun way. I assume that if you’re reading this then you already knew that. If not, read my HYIP basics page before going any further.
The Investment Plans
As for the plans on BTCHourly, there are 3 to choose from:
- up to 0.75% per hour forever (min 0.001 BTC, principal included)
- 6,000% after 45 days (min 0.2 BTC)
- 9,000% after 60 days (min 0.1 BTC)
The second and third plans sound too good to be true, and sadly, with HYIPs, if it sounds too good to be true, it is! So, let’s take a look at the first plan.
Initially, 0.75% per hour sounds good which works out to 18% per day, so 100% ROI happens in about 5.5 days which is certainly reasonable to expect. However, you will need to invest over 100 BTC to get this return. Bummer. When you sign up you can see the actual rate you will get and it’s only 0.2% per hour (4.8% per day) for up to 1.5 BTC. I wouldn’t recommend investing any more than that unless you really know what you’re doing.
Once you have deposited, you’ll see your active deposit earnings increasing. Your account balance is updated periodically and this is what is available to withdraw. Your principal is included in the profits and the minimum withdrawal is 0.0001 BTC, so make sure you withdraw often.
The website is fairly basic and doesn’t overwhelm the user with fancy sliders or pictures of buildings – what you see is what you get. The members section is a little tricky to work out, but all the information is there.
The extensive use of green on the website seems a bit overdone, but I have to say that as someone who actively trades, seeing green everywhere is a good thing – it’s takes you to a happy place. But, let’s not get too carried away and remember what we are doing.
BTCHourly is a basic HYIP which doesn’t pretend to be anything it’s not. The site is well laid out and fairly easy to use. It is a little hard to understand some of the content, but at the end of the day, it’s a HYIP which is basically a scam website, so you can’t be too precious about details. Overall, BTCHourly is average and is probably a bit higher risk than normal.
You can follow my progress on my bitcoin HYIP monitor, and always remember the risks and don’t invest bitcoin you can’t afford to lose