This program has STOPPED paying! Do not invest there!
Some Background Info.
It’s been a few days since we published our “First Thoughts” article on TripleTheDaxx (you can read it here). At that time we promised you a detailed review of the investment plans offered by TripleTheDaxx. However, before we get into that, let me repeat what I said about the procedure for investing in TripleTheDaxx and add a little bit to it as it certainly is unusual — especially for a guy like me who is not at all a guru in the land of cryptocurrencies…
TripleTheDaxx recently purchased a “Sticky Diamond” listing with Emily News. The program has only been online for a week or so and already it seems to be of interest to a number of HYIP investors. Perhaps this is because it functions both as an HYIP investment platform as well as a means of investing in a relatively new digital currency called DaxxCoin. There are a few tricky procedural things about this company (that took me a while to get used to). The most significant is that you make your investments in LiteCoin but your earnings are paid in DaxxCoin. So, if the value of DaxxCoin should go through the roof, there is the possibility for the investor to make profits far beyond the normal yield of TripleTheDaxx as an investment platform.
With that as a review, in order to invest with TripleTheDaxx, the first thing you have to do is register with DaxxCoin and enter your wallet number in the TripleTheDaxx account area. This is where your earnings will go. Next, you should open an account with Cryptopia. This is the exchanger by means of which you can convert your funds between DaxxCoin and other currencies. Remember that deposits are made in LiteCoin. You can actually deposit in BitCoin but such deposits will automatically be converted to LiteCoin as this is the official “deposit currency” of the website. All this is a little confusing to me. However, if you are used to working with digital currencies, you might be more comfortable with it than I am. Once you open an account and see everything posted in LiteCoin, BitCoin, and DaxxCoin, things DO become a lot clearer.
An interesting thing about TripleTheDaxx is that it is essentially a one page website. When you click on the additional tabs at the top of the page for “About Us,” “How It’s Work” (terrible grammar!!), etc, you are simply taken back to the section of the home page dealing with this subject. Since these tabs get you no new information, why not simply eliminate them? Simplicity is beautiful! Something that IS missing (unless I missed it!) is a FAQ page. This is always VERY helpful in providing answers to the detailed questions that inevitably come up when working with a new program. There IS a help button on the account page but, at least when I tried to use it, it wasn’t working.
The Investment Plans.
TripleTheDaxx offers three investment plans. All of them run for 150 days and they return your investment along with your earnings. Here’s a summary of the information on the plans as supplied in the website. However, even though the website deals exclusively with cryptocurrencies and gives investment limits in LiteCoin, I am going to convert everything to US dollars using the approximate conversion of $50 = 1 LTC. I think this might be more meaningful to most investors. You can always refer back to the website in case you would like to rework the arithmetic I do here in LiteCoin. I fully realize that the conversion between the two currencies could change radically in a short period of time.
Double Plan
1.33% per day
$150 – $1,500
Racer Plan
1.66% per day
$1,500 – $3,000
Triple Plan
2.00% per day
$3,000 – $30,000
A quick look at the three plans immediately tells you that they are not for the casual investor. With a minimum investment of $150, a person cannot play around with small $10 or $20 investments like many online investors do. Personally, I like this approach of TripleTheDaxx. The minimum amount isn’t obscene by any means and it is in the neighborhood such that earnings might be useful to the investor. This is hardly the case in many other programs where some folks make very small investments where their earnings are in fractions of a dollar. What can you buy nowadays with $0.50?
Looking at the three plans, it is also apparent that it is simply a single plan that changes the interest earnings you receive in proportion to the size of the deposit that you make. This is typical of many HYIPs and is a wise practice on the part of the company as it limits the number of people that can afford to participate in the higher interest investment plans and thereby decreases its obligation to make higher interest payouts. This is a great help in improving the likelihood of long term survival of the program.
In Part 2 of this Review, we’ll make a detailed analysis of the TripleTheDaxx investment plans as well as take a look at a few other features of the program. Stay tuned.
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