Beware of HYIP

by Gily Tenorio on July 25, 2010

in Scam Alert

There are many online or internet scams circulating around the internet. One very popular scam is called HYIP or high yield investment program. One characteristic of this scam is their offer a high rate of return for your deposit usually 20-30% per month. Other internet scams are called autosurf and mostly PTC or Paid-to-Click.

Normally, you need to open an e-currency account such as Liberty Reserve, AlertPay, SolidTrust Pay, Perfect Money, Strict Pay and other e-currency accounts. You need to convert your cash to this e-ccurency by using your credit card or cash before you can participate in HYIP.

When I was stumbled upon in HYIP last year, I used credit card for deposit to my HYIP account. HYIP is like Ponzi scheme wherein the scammer will pay you the interest from other depositor’s money. So once there are no deposit or money coming in, it will be the start of scamming.

That’s why you need to avoid this type of internet investment. It is better to invest in sure income than desiring for a quick and high return from HYIP which is a scam. There are many legitimate investment that will give you good return and safe for your principal money. I know this because I’ve experienced it but good thing I stopped now. It’s a lost of money and time.

Comments on this entry are closed.

Aaron Wakling July 25, 2010 at 06:16

Do you do blogroll exchanging? If you want to exchange links let me know.

Email me back if you’re interested.

Gil July 25, 2010 at 10:29

Sure, we can exchange links. Please add my blog.
My anchor text: Learn Financial Education
URL: http://learnfinancialeducation.com/
Thanks!

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