There are literally hundreds of websites about HYIPs, and each one will give you information about how to make money investing in HYIPs. Some will tell you how to beat the HYIPs at their own game, and some will gladly tell you how much money they’ve made doing it. Then there are the sites that simply lie about HYIPs. It can be hard to get the information that you need, and when you think you have what you need, how do you know what to believe?
Well, it’s really simple – ask yourself, does it make sense? If you read or hear something and have any doubt, try and work out what is making you doubt it. Quite often you will need facts to prove it right or wrong, which may not be easy to get.
Ultimately, to get your answer, you need to question yourself. Ask yourself, why would someone say that? If you can understand the motivation of the person, you are a long way into working out what is true and what is not.
So, in light of that, and rather than give you information on how to beat the HYIPs, I thought I would share the three things I keep in mind when investing in HYIPs.
1. Never forget what a HYIP is
This one is pretty easy, but can easily be overlooked when you work out how much money you will make at 10% per day. It gets even harder when you read about how much other people are making. A simple tip which might save you is to try and use the word scam instead of HYIP.
The thought of a “High Yield Investment Program” conjures up the image of fast money, and you instantly think about how you will spend your money rather than what you will do if you lose it after being scammed. It helps if to try and understand the motivation of a HYIP admin – are they risking time in jail to make you rich?
2. Have realistic expectations
Just because you made 200% on a previous HYIP, and you are pretty sure a new one is the same admin – you may have even read it is the same admin – don’t think that you will make the same again. If you simply assume that you will gain from every HYIP, then you are in for a big shock.
I find the best way to approach each HYIP is to think of every possibility and be comfortable with all of them. If you do make it to 200% again, that’s great, but remember to reset your expectations for the next one. If you do lose, ask yourself whether you were truly expecting it? If not, you may need to think back to what motivated you to invest in the first place.
3. Think about what you will lose
A bit like the first one where you sort of forget what a HYIP is and only think about the last HYIP you made money on. It’s all too easy to only think about what you will gain. Instead, take a minute to think about losing all the money you are about to invest.
If you can honestly say to yourself “If I lose, I won’t be upset” then you are ready to invest in HYIPs. If you say something like “I need this one to pay for another week” then you may need to invest a bit less. However, if you say something like “If I lose on this one, that’s it, I’m broke” then you need to stay away from HYIPs. Simple.
At the end of the day, HYIPs are a simple way to make some bitcoin, but you need to remember the risks and be prepared to lose. If you can keep these three things in mind next time you are about to send bitcoin into the never-never, then you may end up investing less, but I believe you will be further ahead in the long run.