Smart contracts how to participate in them?

As you know, the HYIP industry has a certain spontaneity and its own dynamics of development. Financial pyramids have existed for a long time and their essence is the same, but their appearance changes from time to time. Therefore, such projects will never die, they only change into something new. Back in April - May 17, everyone admired the possibility of the cryptocurrency market and the profit inherent in it. Everyone believed that the era of HYIPs had passed and it was time to rush to the crypt, so as not to be left without the last dollar in your pocket! And now, finally, a mix of crypts and Ponzi schemes really appeared - hyips on smart contracts :) The spirit is new and interesting: who knows, maybe this is what will revive the hype world?

What are smart contracts?


Smart contracts are provided in the Ethereum network instead of transactions. In fact, the creators of the ether wanted their cryptocurrency to be not only a unit of account, but also something more that allows people to establish any automatic operations. For example, if we talk about real-life applications, this could be the purchase of an apartment, the payment of fines / fees, the receipt of any documents. Smart contracts allow you to prescribe any executable code inside you. This is what clever HYIP admins took advantage of.

How do HYIPs work on smart contacts?


HYIPs on smart contracts work without a personal account. Their site represents only a set of beautiful (or not so) html-pages with various information. The rest of the functionality is incorporated in the Ethereum smart contract. Therefore, it will have to be removed only by broadcasting.

Initially, such projects are inherently “honest”. That is, the administrator refuses access to the entire cash register of the project: he cannot at some wonderful moment take and take all the money. The profit of the creator of such a hyip consists only of% of the cash register. The users themselves can watch the flow of funds on the project wallet. You can check this via Etherscan (https://etherscan.io/). Wow, isn't it? Before you is a real "holy" model of a financial pyramid! But such a situation is possible only if the project administrator has renounced possession of the smart contract. It is also important that such a project has a third-party audit! All such information, the project owners are required to place on their website. If there is no refusal to own or audit, then when investing additional risks arise not to return their contribution.

Pros and cons of HYIPs on smart contracts?


Despite the beautiful principle of operation, such a system has a fairly large number of ambiguous nuances that can be both a plus and a minus depending on the situation.

  • Investments are made using ether only. For an ordinary investor, this can be a plus if the rate of a given crypt is growing - then he receives not only dividends on the deposit, but also profit from the growth of the rate. Minus, if the ether rate began to fall strongly, then some fiat losses can be incurred. But remember, the profit or minus from the growth of the cryptocurrency comes only when you have fixed it! (that is, withdrawn into fiat money). And with active investment, you should not constantly look at the ether rate, because the cryptocurrency market is quite volatile: therefore, consider your profit from investing in such projects solely in the number of ethers.
  • Anyone can see the real balance of the project wallet. As a result, users can conclude about the stability of the inflow and the growth of the cash register: if the inflow covers the amount of payments, then you can think about the deposit in more detail. At the same time, this gives grounds for false panic: one of the inexperienced newbies can take a small and temporary minus in the cash register for the beginning of a disaster and suffer panic in all chats. Therefore, we analyze correctly and use this cool feature of HYIPs on smart contracts to the fullest!
  • The complexity of perception from the ordinary investor: the project does not have a personal account, which means you need to learn new technical tools to work with it.

What are the features of investing in HYIPs on smart contracts?


There is no need to register in HYIPs on smart contracts. You just need to immediately send your deposit to the project's wallet, after which the smart contract automatically "remembers" you and will make payments to the address from which you made a deposit. You shouldn't make a deposit from a cryptocurrency exchange, otherwise you get the opportunity not to get your money back. Therefore, it is worth using ethereum wallets: MyEtherWallet, Jaxx or MetaMask.

HYIPs on smart contracts use two types of payments: instant and automatic. With automatic, the system itself sends charges without your participation. With the instant method of processing applications, it is enough to send 0 ethers to the project wallet and your payment will be instantly delivered.

There are also certain features with referral program. Some projects do not use it at all. Detailed information you need to look at the site. If the referral program is used, then when transferring funds to the project wallet, you need to specify the inviter's wallet in the additional field. After that you can get your refback.

Instead of a conclusion


As you can see, the structure of HYIPs on smart contracts is new and has several features. In this article, we outlined the main methods for choosing such projects. To simplify the task, answer the questions for yourself:

  • Is there a referral program here? Will I be able to get after refback from my upline?
  • Did the administration refuse to own the contract?
  • Is there a security code audit?
  • What percentage of replenishment does the administration charge for creating and promoting the project?
  • What is the dynamics of deposits on the project wallet?

What are the HYIPs on smart contracts: a new step in the development of financial pyramids on the Internet, or the fleeting “movement” of investors, will be seen later. In the meantime, it is worthwhile to look closely at this phenomenon! :)

Join the discussion in the comments: give your opinion and ask questions!

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  1. AlexanderKudrya8027
    01.01.2021 10:49
    #10
    Thank you for the article. Useful for beginners
  2. Robin2020
    06.11.2020 17:44
    #9
    Thank you for the article!
  3. delix
    15.07.2020 13:57
    #8
    Thank you for the article!
  4. NikitaPuchkin2000
    18.06.2020 22:31
    #7
    Thank you for the article. It was useful to read
  5. 4difeer666
    03.12.2018 14:58
    #6
    As for me, the safest on the one hand, and unpredictable on the other. Here everyone is honest, who came before he will almost always be in profit !!!!!! But there may be holes in the codes, an unpleasant thing ....
  6. udimka
    02.12.2018 23:42
    #5
    As for me, the topic of smarts is raw, a big minus is that when you see a drawdown in the checkout, no one is investing anymore, so an open system is also not always good.
    1. 4difeer666
      03.12.2018 14:55
      #4
      But on the other hand, everything is honest, who came before and received it, and so, if the project does not work for a long time, we don’t invest in it, and the possibility of withdrawing funds is also excluded if audits are completed!
      1. udimka
        09.12.2018 02:05
        #3
        Well, the fact that the entire cash desk in the palm of your hand is a minus on the one hand, since when it starts to sink, people no longer invest in the project and the scam comes sooner.
        1. LegenDa
          05.02.2019 10:23
          #2
          Only one conclusion: if you go smart in the front row, otherwise the risks are very high
  7. Lavr
    12.10.2018 14:03
    #1
    As always, everything moves in a spiral. The higher the technology, the more interesting the new trends. HYIP as he was, and remained, only a turn higher up) Instructive article, thanks for it !!
  8. Newf
    08.10.2018 13:48
    #0
    As an inexperienced investor learned new information. I hope that I will apply it in practice if I find the necessary information about the project. All profit! Thank you!
  9. Alex2601
    08.10.2018 08:12
    For me, these are the same old HYIPs, only on ethereum-wallets, each admin wants to show something new. but the principle is the same.
  10. Roslik
    08.10.2018 04:22
    Very interesting information. Thank you now I will know))) well done that bring information for people)))