Scams to Avoid – Bursting the HYIP Bubble (By Luthando)

Any High Yield Investment Program — or HYIP as it is commonly known — is nothing more than a scam in the making.

We are here to make money online, but every now and then we are bound to come across sites offering illogical sums of payment for a short-term deposit. Some of these sites offer ludicrous sums of money, in some cases as much as 275% for a three-day deposit. Once the lure has been set, all that the scam needs is for dumb fish like us to take the bait hook, line and sinker. HYIPs are in the business of conning gullible Internet users and getting them to deposit some of their hard earned cash with the promises of high returns.

Then, reality bites back and bites really hard at that. Want to take a guess where it bites us? Yup! That is the place.

HYIP schemes are ponzi schemes, designed to lull us into thinking that the website is actually going to provide us with the high returns when the truth is that it is not going to do so. These sites are set up in such a way that we can actually see our deposits grow by the day and when it comes to payment date, a delay or two would occur. More often than not, we will get a email from the webmaster saying that he has some account issues with his bank and it should get sorted out in a day or so. Then, in a matter of few hours the website gets closed up; at times, it is removed altogether.

HYIPs do not pay up and the few that do so are basically rotating the funds from other ‘gullible’ members to us. But no HYIP scheme lasts for more than a few days and with even some running for a few hours only. There is no rational way for the site/company in question to invest the money and provide such huge returns, not even if they are into something illegal. Should make us think, right? But sadly, the thought of earning 200% and more on a three-day deposit is enough to get us ‘gypped’ by these guys.

Sites that offer high returns on a one-day, three-day, or even one-month deposit for extremely high returns are considered to be HYIP sites. It is much better to give such sites a wide berth, at least if we are planning on not throwing our money into a bottomless well. These sites are there online only for one reason, and that is to make money not for us but for the Webmaster.

There are any numbers of methods through which we can earn money online and HYIP definitely does not happen to be one of them. The only thing that we should be doing if we are to come across such sites is literally run for the hills — our moneybags included!

Source: www.askpaccosi.com