Often asked by many readers of Daily Investing Tips; how many times did you get scammed before you learned legitimate investments such as stock market and mutual funds investing. Way back 2013, before I got married, I got scammed 2 times. The first one is about work abroad and the second one is high yield investment programs or HYIP.
HYIP are very risky. High yield investment programs can help you earn more than 100% per week for your return on your investment. I get lured to the promised I have read in the HYIP website. I registered, deposit funds via payment processors (SolidTrustPay and sometimes I used Liberty Reserve). AFter I deposit funds to the HYIP website, it closed. Woah! I read a review about it and many members of the HYIP watchlist forums said it is a scam and considered as “Not Paying”.
I laugh out loud. But inside of me it was hard. Yup! It’s hard to lose even a single penny in an investment. But sometimes, you have to lose hundreds, thousands just to make yourself a skillful investors. At least I have learned a lessons in few dollars for my HYIP experience.
Should You Invest in HYIP Even If the Program is Paying
Still, there are many people who are making serious cash in investing in HYIP. High yield investment programs are good for few days to one week only. When you spotted a paying HYIP, make sure you spotted it right after it was started. And it is not recommended to invest in HYIP if it is older than a week.
First, HYIP owner collects funds and when they collects funds, they will closed their website and they make money. The members then will lose money since the HYIP is already closed. How come members are interested to put money in HYIP?
It is because they know it is paying and they will refer more and more people to invest in HYIP so the program have funds to pay for the first depositors or investors.
It is not advisable to lose money first just to know the legitimate investments. You can learned the different types of investments like stocks, mutual funds, bonds and forex if you are willing to give them a try. Invest even a small amount of capital and in the long run, you will eventually master and learned how to invest money wisely.
What about you? How many times did you get scammed before you learned legitimate investments? How much money did you lose before you invest in stocks, mutual funds or bonds? Share your investing experience in the comment box below.