22nd May 2016: Site Dead!
Hot-Coin is another HYIP joining the long list of HYIPs simulating cloud mining. It has a fantastic name, a sweet looking interface, accepts lots of different coins, and is slowly building up it’s reputation. But should you invest bitcoin in it?
Well I did, and I am pretty confident I can at least get my investment back. It also has an introductory offer of 2,500 Dogecoin when you sign up, which is really what made my decision easier.
No tricky plans to try and understand here – just deposit money and you get 100% ROI in 2 months. This works out to approximately 1.67% per day, principal included, which is a little bit higher than the majority of the cloud-mining HYIPs. As a comparison, Topmine pays 1.33% per day.
To get started, just sign up to the site and log in. You can deposit Bitcoin, Litecoin, and Dogecoin. Each deposit you will need to convert to ‘Hot-Cloud‘ which is the fictitious mining unit. The more you have, the more mining power you have which determines your earning power. Keep in mind that regardless of how much you purchase you still only get the 1.67% per day.
Once your deposit is available, you can select which coin you would like to mine. You can select from Bitcoin, Litecoin, Dogecoin, Reddcoin, and Ethereum. You can also ‘mine’ Hot-Cloud to increase your mining power.
The minimum investment is 0.0005 BTC and approximate equivalents in the other currencies. The minimum withdrawal is 0.001 BTC and equivalents. As for the majority of cloud mining HYIPs, your principal can’t be withdrawn so you need to wait for 100% ROI before you see any profits.
There is also a faucet which you can claim 50 Dogecoin from every 24 hours. You can purchase more Hot-Cloud mining power with this, or withdraw once you have more than 3000 Doge.
The website is very slick and nice to look at. It is fairly minimal, which is refreshing. The admin seem to know what they were doing and have clearly spent some time developing this site. The members section is easy to use and all the information is clear to see. There is even an integrated Chatango chat interface if you want to see people spamming ref links.
Overall, I rate Hot-Coin as excellent due to it’s professional look and feel. This, for me, generally translates to a lower risk rating as it is an indication of the commitment of the admin. One concern is that not many other HYIP monitors have hot-coin listed, but it is slowly building a user-base. This may help it be more sustainable in the long run which is ultimately what I am after in a cloud mining HYIP.
Always remember the risks, and please don’t invest bitcoin you can’t afford to lose. You can check my progress on my bitcoin HYIP monitor.