This program moved to CLOSED! Do not invest there!
Introduction.
In the way of an introduction to Octoin, I am going to repeat what I wrote in the First Thoughts article that we published a few days ago. It provides an overview of our take on how the company operates as well as a few preliminary impressions on the Octoin investment plans. If you prefer not to read this again, please skip ahead to the next section entitled “Analysis of Octoin’s “Trading” Investment Plan.”
We just began a “Gold” listing for Octoin on the Emily News monitor. The Company has been online since early this month. So, it is a fairly new “kid on the block.” According to its website, “Octoin is an international company founded in the beginning of 2016 as a result of the merger of the strongest traders team from the UK and Singapore, and the creators of the largest mining pools from the northwestern provinces of China. Due to the merger, it became possible to realize the main idea of Octoin, i.e. the pooling of capitals for professional trading at maximum volumes, investments in proven ICO companies, and the use of efficient technologies in the mining of the main cryptocurrency, as well as a number of promising altcoins.” So, it is one of many companies that offer online investment plans that are involved with both crypto currency mining and trading. Generally, I am skeptical about companies that claim to be involved with both these activities as they would appear to requite expertise in significantly different areas. However, Octoin addresses this concern where it enumerates a total of NINE different departments in its organization. Addressing my concern, there is the Trading Department which is involved with “conducting trading on top-level cryptocurrency trading grounds” and the Mining Department that provides “technical support of existing mining farms, support of computing capacity, replacement and upgrade of equipment, expansion of computing capacities and farm areas.” So, Octoin appears to be a very large operation. Unfortunately, like most HYIPs registered as a corporation in the UK, Octoin is a one man show. It has one director who also serves as the corporation’s secretary (there is no treasurer?) and this person also holds the single share of stock issued by the company. Although it is certainly not impossible, this would seem to be a strange way for a company supposedly of this magnitude to organize itself. I have set up a few non-profit corporations and we at least had officers and a board of directors listed on our incorporation papers.
But, all this aside, Octoin has a truly remarkable website. There is so much information in it that it can easily overwhelm the reader. It appears that a person can invest in Octoin’s trading activities or mining activities as separate transactions. Octoin even has its own cryptocurrency called OctoinCoin that can enter the picture. When we review the program (which will be in a few days from now) I will limit the scope of the review to the investment activities that a person can get involved with by means of Octoin. After all, this is the purpose of a HYIP monitor. As far as Emily News is Concerned, we always emphasize the two things that we feel are the most important to the investor: information about the company and information about the profitability and reliability of the investment plans that it offers. Although Octoin has a lot of “bells and whistles,” we will try not to let the peripheral information obscure what we are really interested in.
I have already commented on the company. In the way of a very brief introduction, Octoin really only offers a single investment plan. Like many investment plans, it pays interest on a daily basis and returns your principal at the end of the plan. However, the plan has a number of unique features. Most significant is that YOU can choose the length of the plan. You can select 30, 60, 90, 120, or 150 days. The longer the plan, the greater your interest will be — but only by a very small amount. This is additionally complicated by the fact that the interest you are paid varies slightly on a day by day basis. However, it remains in the neighborhood of 1% per day. So, looking at the investment aspect of the program from a distance, you would probably classify it as a conservative medium to long-term pan, conservative because the interest rates are rather low. We will carefully examine the profitability of the Octoin investment plan when we review the program. At that time, we will also take a look at how the investor can earn money with the mining aspect of the program. Please stand by for the review.
Analysis of Octoins’ “Trading” Investment Plan.
My take on Octoin is that there are two primary ways in which an investor can make money with the company. These are by means of its “Trading” activities and by means of its “Mining” activities. As I indicated above, you can choose whether you would like to invest for a 30, 60, 90, 120, or 150-day long trading period. The daily interest you will receive for any length of plan will be in the neighborhood of 1%. However, it varies from day to day. The website does give you the interest that each of these subplans made in the past 30 days, so you can get an idea as to how profitable an investment might be. For example, right now, it indicates that the 30-day plan earned 29.11% in the last 30 days. This also means that, in 30 days, if, for example, I invested $100 in the 30-day plan, I would earn $29.11 in profit. If you divide 29.11 by 30 (and multiply by 100), you get the average percent earnings per day which is 0.97%. Since your principal is returned to you at the end of the plan, this is your DNI or daily net interest. If you do the same arithmetic for the other length plans you get the following results:
Days in Plan % profit in 30 days DNI %
30 29.11 0.97
60 30.49 1.02
90 31.88 1.06
120 32.57 1.09
150 33.26 1.11
Looking at this little table, a few things should be clear to you. First, the DNIs are all very close to 1%. As we pointed out in HYIP Insights #12 (that you can read here), programs with investment plans in range of 1% or less should have a very good chance of long-term survival. Programs with plans having DNIs greater than 2% might not survive. And, programs having plans between 1% and 2% could go either way. Well, all the Octoin plans are very much on the safe side. So, investing in Octoin’s Trading investment plan has the potential of being a safe long-term deal.
Now, COMPARING the earnings of one length plan to another, there really isn’t very much difference. You have to ask yourself if it is worth tying up your investment for five times longer just for the chance of earning, at most, an additional 0.14% (1.11-0.97) per day in interest. My opinion is that it is NOT. Of course, this is up to you. Even with the best of programs (and Octoin looks like it will be one of them!), 150 days is still a very long time to put your investment at risk. In case, I’m not absolutely clear on this, Octoin will pay you your 1% +/- earnings on a daily basis. But, the company will not return your investment to you until the plan ends. If you are interested in a long-term investment with Octoin, my suggestion would be to do it for 30 days at a time so that you don’t tie up your investment for an extended period.
Octoin DOES have an option whereby you can withdraw your deposit early. However, you have to sign into that option when you enroll and it looks like you will take a 30% penalty in your earnings because of it. That’s a lot. Again, my feeling is that it is far better to think 30 days at a time, see how the company is doing, and, if things continue to look promising, reinvest.
OK, maybe this is enough on investing with Octoin by means of their “Trading” activities. In Part 2 of this review, we’ll take a look at making money by investing with Octoin’s “Mining” activities. Stay tuned…
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