9 mistakes novice investors make in HYIP projects
They say that the biggest human mistake is the fear of making a mistake. Yes, it is fear that often acts as a kind of stop-crane that slows us down in everything. In the matter of investments, this is especially noticeable, especially if a beginner is thinking about investing money. If you want to make a profit on the Internet, but do not know anything about it, you have to take risks. And to keep the risks minimal, I will tell you about 9 of the most common mistakes novice investors make.
By the way, do not think that investing is an occupation exclusively for businessmen and wealthy people. No, it’s not. If you have at least a little free funds (start-up capital), you can increase them through the MikiAlex blog. How exactly, I will tell you next time, but for now let's talk specifically about the mistakes of beginners.
ERROR #1. Inability to tell the difference between true and false reviews
Never get involved with projects until you read reviews about them. There are many scammers around who are just waiting for your money. Reliable reviews are not easy to find. If you are looking for them on thematic forums, pay attention to the rating of users and the number of posts from them. Do you prefer social media? Check out the author's page - it shouldn't be new and empty. Don't trust people who have virtually no friends, photos, or personal information. Their recommendations can easily turn out to be fake or paid advertisements.
ERROR #2. Believing everything that HYIP project administrators tell
There are dozens or even hundreds of different HYIP projects on the network. It is difficult to figure out without experience which of them really work and which are fake. Do not trust unknown site administrators who will tell you tales. Their goal is to emphasize their honesty and decency by any means. But in reality this is not always the case. Having invested in a dubious project, you can not wait for a profit. If you need up-to-date information on this subject, you can find it on the MikiAlex blog.
ERROR #3. Being limited to one communication channel
Have you chosen a more or less interesting project for investment, but noticed that you can contact the administration only by mail? Run away from him. Most likely, you are caught by scammers. Communication channels should include not only email, but also pages on social networks. It is advisable that technical support is provided 24/7 through a messenger or an online consultation form on the website. If you have any doubts, you can always get good advice in our chat.
ERROR #4. Using unverified currency exchange
At first glance, it might seem that exchanging one e-currency into another or transferring money between different payment systems is as easy as shelling pears. But this is only at first glance. Practice shows that future investors are often tempted by a lack of commission or low interest rates and give money to deceivers. If you haven't worked with EPS (electronic payment systems), I will teach you how to make the right choice. This will help avoid trouble and not lose the entire amount of money.
ERROR #5. Doing like everyone else
The herd instinct is bad, because a person's brain immediately turns off, and he begins moving with the crowd. The path chosen in this way is far from always correct. And the fact that someone praises a specific place and runs there does not mean anything. Even a trusted investment fund can go into a scam and stop payments: in whole or partly. As a result, your deposit will burn out. Therefore, you need to always stay sharp, analyze and monitor the market, for example, through the MikiAlex blog.
ERROR #6. Diversifying risks incorrectly
It is common situation when an investor, in order to minimize risks, diversifies them. In other words, he distributes investment funds among several financial instruments - for example, various types of HYIP projects. Such a solution will only be effective in experienced hands. Beginners, on the other hand, often do it chaotically and thoughtlessly. They believe they are reducing risks, but in fact they are only increasing them. It is necessary to split the portfolio even into two or three projects only after careful study of the issue.
ERROR #7. Lapping long-term deposits up
The more long-term tariff plan the HYIP project administrator offers, the more profitable the interest on the profit is. This is only logical. However, it may happen that the project simply does not make it to the designated time. There are actually many potential reasons for the closure: from a banal loss of interest on the part of the owner to unprofitableness (especially if it is a startup). It is better to invest free funds on the terms of urgent withdrawal of money as soon as necessary. Have you suspected a scam? Close the deposit.
ERROR #8. Immediately reinvesting the interest earned
Every investor wants to get as much profit as possible, and there is nothing wrong with this desire. Many novice players do this through reinvestment. What does it mean? Reinvestment is the subsequent investment of the profit received from the investment, that is, the interest on the deposit. Seeing beautiful numbers in front of us, we forget about safety. It is correct to do the following: withdraw the body of the deposit, and then work directly with the interest received. Thus, you are guaranteed to stay with your money.
ERROR #9. Calculating profit for years ahead
Even if you gradually began to understand investing in HYIP projects, and you are already earning something from this, I do not recommend calculating profit for a year, two, or even three in advance. This market is developing very, very dynamically: some projects are closed, others are launched. By placing a bet on one or several directions, you risk. Be sure to keep in mind that this is not one hundred percent passive income. Any investment requires careful study and constant maintenance.
And finally, one more piece of advice: never take investment loans from banks. Use only the money you have on hand. And before you do anything, just check out the investment blog MikiAlex - you won't regret it.