TOP-10 mistakes when investing in HYIP-projects
At the beginning of exploring any field of activity, a person encounters a multitude of mistakes, which significantly slows down their progress in the new direction.
This article will help you avoid the most common mistakes made by beginners in the HYIP industry.
TOP-10 mistakes when investing in HYIPs
Let's highlight the most popular mistakes investors might face at the beginning of their journey in the HYIP industry or in the future.
There's no ranking by the importance of mistakes since every individual is unique and situations will vary.
1. Investing money in just one project
For experienced investors, this might seem like an obvious mistake, but a beginner might think it's a great idea to invest all their money in one project. No need to overthink, ponder, or search.
Let's explain what will happen. Since you're a beginner, it's unclear at what stage you entered the project, and you might be dazzled by the percentage profit from the project. Sooner or later, the project will close, and you'll be left with nothing, unless an insurance helps you out.
Therefore, it's essential to wisely use the diversification strategy and distribute funds across projects. The more projects, the better.
2. Don't invest more than you're willing to lose
If you don't want to wake up one day with the thought that you've lost everything, don't invest more in investment projects than you're willing to lose.
3. Borrowing money/loan/credit to invest in HYIPs
In our beloved HYIP industry, anything can happen, and borrowed money, which you can't afford to lose, has no place here. There's a high chance of losing money and ending up in debt.
Refer to point 2.
4. Accumulating profit in the account balance
Don't be lazy; withdraw money from the project as often as possible if the minimum withdrawal amount allows it. Carefully study the information before making a deposit.
5. Not studying the project's terms
At some point, you might find out that you can't withdraw the deposit anytime, withdrawals are only for verified users, or there's a -20% commission for withdrawals. Situations vary, but the essence is the same – study the terms of the project in which you're investing.
6. Admin's past reputation
You need to remember the following expression – a good job by the admin in the past cannot guarantee success in a new project.
7. Blindly trusting insiders
This point could be related to point 6, but still, if you read an insider about the admin, it doesn't mean that in his new project he will be able to replicate the success of his past work or won't scam the project quickly.
8. Endless reinvestment
Don't engage in endless reinvestment in any project, especially if you're a beginner. In HYIPs, try to set a profit bar, upon reaching which you'll exit the project, at least with your initial deposit.
9. Believing in legends
Legends are created for people who don't know about HYIPs, so forget about them. HYIPs always operate on the financial pyramid principle, and there are no exceptions. There are no real forex, car rentals, cloud mining, etc., that would pay you percentages from your deposit.
10. Bonus: not investing with RichMonkey.biz
Remember, we can create investment portfolios for our team, provide advice, tips, and our blog has a plethora of useful articles.
So, this is the list of mistakes to avoid when starting in the HYIP industry.
Don't think that we're the smartest and have never lost money in HYIPs. Thousands of dollars were lost, but the profit gained by avoiding these mistakes can cover everything and provide you with a good passive income in the future.
Write in the comments what you think about the mentioned mistakes. Maybe you have something to add.
Invest successfully and profitably with RichMonkey.biz! Wishing you successful and profitable investments!
- Instructions for using the personal account on the RichMonkey.biz blog.
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