This program moved to CLOSED! Do not invest there!

Introduction.

We originally reviewed the BitGainex investment program on August 26 (you can read that review here).  Now, only two weeks later, the company has made major revisions to its program, so major that we feel it’s necessary to almost do another complete review of the program.  The way I will handle this is to repeat major information from the original review and then add the changes to it, of course indicating wherever the changes take place.  To emphasized where there is a change, I will put the new material in italics.  Please be patient if this means repeating a lot of old material.  However, if I only discuss the changes, I feel that most readers will wind up reading through the original review again to see how everything fits together.  So, I might as well put everything together in one place and save you this added leg work.  With this in mind, let’s begin…

The BitGainex Investment Plan.

The BitGainex investment plan is an unusual one.  Whereas most HYIPs have a number of investment plans with different terms and interest rates, BitGainex only has one.  However, you can actually set up your own investment plan by CHOOSING these parameters yourself.  It is sort of a “mix and match” kind of thing that can have many outcomes.  Here is the way we introduced the BitGainex investment plan in our “First Thoughts” article:

Concerning their investment plan, the claim is that you can earn up to 57% per month by means of their cryptocurrency trading program.  This comes to 1.9% per day and this amount depends on “on the trades results, bonus size for trading task adjustment and for helping to train the neural network by BitNode installation.”  (Actually, you can earn around 59% for a 31-day month).  The bonus can be up to 0.7% per day and depends on the duration of the plan you invest in, the amount of your investment, and whether or not you install “BitNode” on your computer.  So, maximum daily earnings without any bonuses is 1.2%.  I checked with BitGainex support and the daily earnings can range from 1.1% to 1.2%.  This isn’t very much variation.  A very important feature of the program is that your investment is returned to you at the end of the program.  This wasn’t too clear to me after I reviewed the website.  However, again, BitGainex support clarified this for me.  The BitGainex investment plan is unique in that YOU more or less design it yourself.  You choose the length of the plan and you decide the amount of money you would like to invest.  This is what BitGainex refers to as “creating your task.”  You also decide whether or not you will opt into BitNode.

Now, let’s take a closer look at these bonuses…

When you “create your task,” you first must select the duration of your investment plan.  This can be 90, 180, or 360 days.  So, right off the bat, we can say that BitGainex is a long-term investment program.  Possibly, the 90-day option might be classed as medium-term.  If you select the 90-day option, your daily bonus is zero.  If you select 180 days, it is 0.1%.  And, finally, if you select 360 days, it is 0.2%.

Here is where major changes have been made.  There are now two additional options to chose from when it comes to duration of the investment plan.  Shorter term periods of 30 days and 45 days have now been added.  In addition, the bonuses associated with all the different length of plan options have been radically changed.  Now they are:

30 days     0%
45 days     0.08%
90 days     0.53%
180 days     0.63%
360 days     0.73%

Next you select the size of your investment and this will determine the amount of your second bonus.  It is zero for investments of $300 and less.  It is 0.1% for investments from $301 to $1,000.  It is 0.2% for investments between $1,001 to $5,000.  And, finally, it is 0.3% for investments of $5,001 and up.

In addition, BitGainex has something called “BitNode.”  I don’t fully understand this.  However, it appears to be code that you can install in your computer that will enable their system to learn the “neural network” which, in turn, will improve system profits.  Anyway, if you opt into this and install BitNode, you can increase your daily earnings by another 0.2%.  If you’ve been adding these bonuses together as we go along, you can see that you are able to add up to 0.7% to your base earnings due to the results of system trading.

Now, if you add the bonuses together, you can add up to 1.23% to your base earnings, quite a bit more.

What are the base earnings?  This isn’t too clear on the website.  However, I called support and this can vary slightly — between 1.1% and 1.2% per day.  If you base your earnings estimate on 1.2%, the maximum daily earnings you can reach is 1.9%.  If you base them on 1.1%, the maximum is 1.8%.  Of course, for all practical purposes, the online investor will never reach these earnings levels as they require an investment of over $50,000!

So, now the maximum you can earn is 2.33% or 2.43%.  This is a major increase.

One final thing.  BitGainex returns your deposit at the end of the investment period.  I wasn’t clear on this after reading the website.  Once again, the support people provided the clarification I needed.

Analysis of the BitGainex Investment Plan.

The BitGainex investment program is almost impossible to analyze — at least in the way in which we have been analyzing HYIPs in the past — because of the many different forms it can take.  So, I will make a few assumptions in an effort to bring all this under control.  These assumptions will determine the bonuses that the program will pay the investor.  I will make an effort to “create a task” (meaning design an investment plan) that might be typical of the average online investor.

Here are the assumptions that we will make:

First, the base earnings of the program can vary from 1.1% to 1.2% per day.  Let’s take the worst case scenario — 1.1%.  The idea is that the results we come up with will be safe.

Second, let’s assume that you opt into the BitNode option.  This painlessly adds 0.2% to your daily earnings.  However, before doing this, I would double check with BitGainez to be sure that allowing this function to have access to your computer does not provide any threat to it at all.  I have not done this.

Third, let’s assume that your investment is between $300 and $1,000.  Although this might be high for some investors, many can afford it.  This will give you a 0.1% bonus.  If this level of investment is beyond your reach, please keep it in mind when we start calculating results for all this.

Fourth and final, we will let the investment period “float.”  By that I mean that we will determine results for all three bonus possibilities for length of investment term: zero for 90 days, 0.1% for 180 days, and 0.2% for 360 days.

Now, we have FIVE bonus possibilities for length of investment term.

So, our basic plan will pay a daily interest of 1.4% (1.1% for base earnings, 0.2% for BitNode, and 0.1% for investment amount).  On top of this we will add either zero, 0.1%, or 0.2% for the length of the term.

Now we will add the following as indicated above:

30 days     0%
45 days     0.08%
90 days     0.53%
180 days     0.63%
360 days     0.73%

So, we really have three investment options to deal with as follows:

#1.  1.4% per day for 90 days
#2.  1.5% per day for 180 days
#3.  1.6% per day for 360 days

Now there are FIVE options as follows:

#1  1.40% per day for 30 days
#2.  1.48% per day for 45 days
#3.  1.93% per day for 90 days
#4.  2.03% per day for 180 days
#5.  2.13% per day for 360 days

First of all, let’s quickly determine when each of these options will break even.  That’s easy to do.  You simply divide 100% by the daily interest that the option pays.  For option #1, you divide 100% by 1.4% and find that the 90-day option breaks even in around 72 days.  Doing the same arithmetic for the other two options, you get the following results:

#1.  72 days
#2.  67 days
#3.  63 days

Now there are FIVE options with the following break even points:

#1.  1.40% per day for 30 days     72 days**
#2.  1.48% per day for 45 days     68 days**
#3.  1.93% per day for 90 days     52 days
#4.  2.03% per day for 180 days     50 days
#5.  2.13% per day for 360 days     47 days

So, all of the options break even in the neighborhood of two months, option #1 being slightly longer.

Now the third through fifth options break even in less than two months. 

**But, there is something wrong with all this.  The plan for option #1 is only 30 days long.  So, the plan will break even when your investment is returned at the end of the 30-day period, not after 72 days.  Similarly, the plan for option #2 will break even in 45 days, not in the calculated 68 days.

Next, let’s take a look at the profitability of the three options.  We’ll do this by making a very big assumption.  We’ll assume that the BitGainex program will NOT close before the term of any of these options is over.  In the case of the 180 and 360-day options, this is a big assumption simply because most HYIPs do not survive that long.  But, to keep this analysis moving along, let’s assume that BitGainex is one of the very rare programs that has an exceptionally long online presence.  With this assumption, and since your deposit is returned at the end of the investment plan, your daily earnings are all pure profit.  We call this daily net interest (DNI) and it is the best measure of the profitability of an investment plan as well as the probability that it will be a long-term survivor.

So, the DNIs of the FIVE options are now:

#1  1.40%
#2.  1.48%
#3.  1.93%
#4.  2.03%
#5.  2.13%

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In Part 2 of this revised review, we’ll discuss all this and try to draw some useful conclusions about the pros and cons of the program as it now stands.

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