This program has STOPPED paying! Do not invest there!
First Thoughts on BitDragon.
BitDragon recently purchased a “Gold” listing on the Emily News Monitor. It’s a new company that was launched on September 30 — barely a week ago. They are one of the ever increasing number of groups that are involved with BitCoin crypto-currency trading. In addition, they also claim to be involved with BitCoin mining. The way I understand things, that is a very different field of expertise from crypto-currency trading. However, if they can handle both activities, diversification is always a wise course of action to take. According to the website, “BitDragon Limited uses only modern mining equipment and trades at the most stable markets, which minimizes the risk of financial loss to customers and guarantees them a stable income accrued every day.”
BitDrangon offers three investment plans. They are all very high interest plans offering rates of 9%, 10%, and 12% per day. In general, Emily News has favored investment plans paying a net daily interest of around 2% of less. This is the limit for what we feel might be sustainable in the long run. So, BitDragon’s plan offerings are a lot higher than this. This certainly doesn’t guarantee disaster. However, it does imply that the folks at BitDragon who are managing the funds will have to be extremely careful in the very important work they are doing. They will be paying more than 50% interest per week! Sustaining such payouts must be very tricky business.
In addition, these are what we refer to as “perpetual” investment plans. The way this works is that, once you make a deposit, it earns interest for you forever; the term never ends. That’s the good part. The bad part is that your investment is never returned to you. However, considering the high interest that BitDragon is paying you, this is a very small sacrifice.
A very nice feature of the website that I simply must point out is the “How to Start” section. It contains a very detailed and complete listing of procedures for setting up BitCoin wallets on a number of different websites, in addition to procedures for buying and selling BitCoins — also on a number of different sites. Especially for the newbie, this is priceless information. A person can spend hours trying to sort through these procedures if he has to do it on his own. This information should do wonders in making all this much much easier.
We will post a complete review of the BitDragon program within the next few days. As usual, it will contain a very detailed analysis of the BitDragon investment plans. Please stay tuned…
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