High yield investment programs have become highly popular in the cryptocurrency industry. The rapid price movements of 1,300 or so different cryptos on the market today create an environment that can deliver fast profits, but it’s necessary to spend a significant amount of time observing and reacting to market changes in order to succeed.
High yield investment programs, or HYIPs, offer time-poor investors the opportunity to generate significant profits from the crypto market without expending a significant amount of effort, but come with their own risks- it can be difficult to determine which HYIPs are legitimate, and which are fraudulent.
One of the biggest risks of any crypto investment scheme is that it may collapse. In the case of HYIPs, this commonly occurs due to fraudulent HYIPs using new investor capital to pay out withdrawal requests from older investors, which is essentially the same in function as a Ponzi scheme.
When investing in HYIPs, it’s important to carefully weigh the risks and perform your due diligence. As a general rule with HYIPs, it’s best to get in early and get out fast. There are also a number of platforms that are similar to HYIPs, but instead of offering a guaranteed return on investment, offer a “guaranteed” method of trading cryptos and crypto trading advice.
In this article, we’ll take a look at CryptoAllDay, a new crypto-based HYIP/trading platform and find out what it offers to help you make an informed decision on whether it’s the right investment opportunity for you.
What Is CryptoAllDay?
CryptoAllDay is a relatively standard crypto HYIP that offers investors four different investment account types. There are a number of red flags on the CryptoAllDay site to consider that must be incorporated into any risk assessment, namely the fact that CryptoAllDay appears to be using a website template as evidenced in their account types page:
“…our Light account is ideal for you. This is because you will be able to activate your CompanyName account using the smallest amount of deposit possible 250 USD or 0.04BTC”
As the above quote demonstrates, it doesn’t appear that the creators of CryptoAllDay have even been bothered to correctly proof and update the template they are using for their website.
CryptoAllDay Investment Plans
CryptoAllDay offers four different investment plans. The first, a Light Trading Account, is limited by a minimum deposit of $250 USD, or 0.04 BTC, and delivers daily and weekly market reviews. CryptoAllDay states that new Light Trading Accounts receive a 20% welcome bonus, as well as an additional 10% redeposit bonus.
The CryptoAllDay Standard Trading Account has a minimum deposit of $500 USD or 0.07 BTC, and provides investors with a 30% welcome bonus and a 20% redeposit bonus. Standard Trading Account users are also provided with three trading tips daily, and live chat advice from professional market analysts.
The CryptoAllDay Premium Trading Account is limited by a $2,500 USD minimum investment, or a 0.36 BTC deposit, and like the Standard Trading Account provides the same features as well as two one-on-one financial trading training sessions with experts every month.
Lastly, the VIP Super Account has a minimum $5,000 USD, or 0.73 BTC investment, and a 100% welcome bonus. Further deposits benefit from a 50% redeposit bonus.
CryptoAllDay doesn’t really deliver a clear picture of what they are actually offering, and raise a number of concerns regarding the quality of their site. If you’re looking for a professional exchange on which to trade cryptocurrency, you’re probably better off going with a more legitimate platform such as GDAX.