ToolBit is the latest poorly-named HYIP from the crew who has brought us some shocking performing HYIPs, namely NanoBit, GoodlyBIt, and SolidBit… feel free to click away now if you invested in SolidBit, or stick with me and find out why I feel this one is much lower risk and that instant scam is unlikely to happen again.
The company is apparently involved in bitcoin mining, nothing new there, but offers nothing in the way of proof of operations or any other substantial evidence that may actually convince anyone. But, as a HYIP it offers an enticing principal return plan paying 3.5% daily for deposits up to 5 BTC. I am a big fan of this type of HYIP and for all I care, they could be growing potatoes, I’d still invest. If you are new to investing in bitcoin HYIPs check out my basics page for more info.
|0.001||3.5%||1||3.5%||Insane||Yes, no fee|
The first plan is 3.5% daily which is bang on average for this type of HYIP. The minimum deposit is 0.001 BTC and maximum is 5 BTC for this plan. The second plan is 4.5% daily but requires more than 5 BTC, and the third plan is 5.5% daily and requires more than 35 BTC – just go with the first one.
The site is bitcoin only to keep it nice and simple. The minimum withdrawal is 0.0001 BTC for all plans and withdrawals are instant at the time of writing. To get started simply sign up to the site, (remember to use a different password for every one) deposit some bitcoin, and sit back and withdrawal until it scams.
This is a principal release HYIP which means you can invest bitcoin and then withdraw it at your discretion (after the first 24 hours) This type of HYIP is ideal at the moment due to many early scams in other types of HYIP. The highest risk is a very early scam in the first couple of days, and although this is a real risk, I feel it is unlikely to occur as it is a lower paying HYIP than SolidBit and investors generally invest less in the first week or so. As such, I offer the following strategy:
- Initial investment in early for only the first plan of 3.5% daily
- Run for no more than 10 days before releasing principal. This will see a 35% return on your investment. Hardcore risk takers can probably push to 15 days. Watch my log below for updates
- Do not invest again
|Type||Details (if given)|
|Date Started||20th September 2016|
|Original Plans||1. 3.5% daily up to 5 BTC
2. 4.5% daily from 5 to 35 BTC
3. 5.5% daily from 35 BTC
|Hosting Location||Rostov, Yaroslavskaya Oblast', Russia|
|Company Address||10 Greycoat Pl, Westminster, London SW1P 1SB, UK|
|Registrar Details||Companies House, 31st August 2016|
The website is the standard offering from this admin (or group) and is professional looking and functional. It does have a very lame presentation video which goes on and on about nothing in particular. The testimonial videos are there purely for comic relief, so do watch if you need a good laugh. Many of you may have a bit of deja vu when you first arrive as it looks a lot like SolidBit. *shudders* Although, it is an entirely different HYIP and carries a lower risk of instant scam.
|20th September||Sign up and add initial investment. Alexa rank: 2,377,735|
|21st September||Payment received, instant withdrawal. Alexa rank: 2,159,214
Add second deposit
|22nd September||Payment pending, some problems, so early. Alexa rank: 1,093,886
|23rd September||Payment still pending, not good. Alexa rank: 859,542,
|24th September||Payment still pending - scam
Sadly, not much to analyze on this one, it came, we deposited, it scammed – very frustrating and instant scams are hard to pick – especially the ones that go all out with the fake company info and Comodo install. Oh well, we live an learn