This program has STOPPED paying! Do not invest there!
Analysis of the Investment Plans.
In Part 1 of this review, we outlined the essential features of the BitDragon Investment plans. Now, let’s look at them more closely.
One advantage of high interest plans such as the ones that BitDragon offers is that they break even quickly. For example, the Starter plan that pays 9% daily will break even in only 12 days (100/9) — in less than two weeks. After that, everything you earn is pure profit. Considering that the BitDragon investment plans go on forever, a person could theoretically make a LOT of money.
OK, let’s do some arithmetic! To start with, let’s assume that BitDragon has a very short life span and closes in roughly two weeks (15 days) after a person makes his deposit. Averaging things out, how much profit would he have earned on a daily basis? This, of course, is what we refer to as daily net interest or DNI. Starting with his gross interest of 9% per day, his total gross interest for the 15 days would be 135% (9 x 15). Subtracting 100% from this to account for the fact that his initial deposit isn’t being returned, his total net interest (profit) would be 35%. Averaging this out over the 15 day period, you come up with a DNI of 1.67%. This isn’t too bad.
To put some dollars and cents on this, suppose that you invest $200 in this plan (I’m going to use dollars rather than BitCoin in this example to make the calculation more meaningful), by the end of the 15 day period, you would have made a profit of $70 (.35 x 200). This is quite a bit. The point is that, with perpetual high interest investment plans such as this, you can make a lot of money even if the program closes very quickly.
But, let’s be kinder to BitDragon that this and see how these numbers would work out if the program stayed around for longer periods of time. Making the same calculations for these longer time periods, here’s what you would come up with all the way out to a full year in the future. The dollar values still refer to the $200 investment.
Days DNI % Total Profit % Total Profit $$
15 1.67 35 70
30 5.67 170 340
60 7.33 440 880
90 7.89 710 1,420
120 8.17 980 1,960
150 8.33 1,250 2,500
180 8.44 1,520 3,040
360 8.72 3,140 6,280
Looking at these numbers, you can quickly see the magic of a “perpetual” investment plan. If, by some miracle, the program stayed alive for six months, your $200 investment would have yielded a profit of over $3,000. If it stayed alive for a full year the profit would be over $6,000! These numbers, of course, are “through the roof.” You be the judge as to whether or not they are a real possibility…
On top of this, BitDragon offers the possibility of compounding your earnings. In case you’re not familiar with how compounding works, the program permits you to have some or all of your earnings automatically added to your deposit. There is a pro and a con to this. The “pro” is that your daily earnings will increase along with the potential for greater total earnings later on. The “con” is that, reinvesting a portion of your earnings increases the length of time it takes for you to break even and, therefore, increases the possibility of losing money in case the program closes more quickly than you anticipated. Some investors choose a middle road which is NOT to compound until they break even and, after that, to compound partially. This said, with such a high interest program as this, as our arithmetic shows in the preceding paragraphs, returns might be more than adequate without injecting the risks associated with compounding. A while back we published a detailed HYIP Insights article about the pros and cons of compounding which you can read here.
Other Features of the Program.
Since all transactions use BitCoin, both deposits and withdrawals might be delayed by the confirmation process. However, processing by BitDragon is promised to be instant.
BitDragon has a decent affiliate program that pays you 5%, 1%, and 1% of deposits made in the first three levels of your downline. For industrious recruiters who might be interested in the BitDragon representative program, these percents are increased to 7%, 2% and 1%. There is an application procedure in order to become a Rep. Representatives are listed in the BitDragon website along with their contact information, languages spoken, etc. and even a link to the Rep’s replicated website. This is a very serious representative program that could go a long way in helping Reps to grow their downline as quickly as possible.
Support is by means of an email address or the standard contact form. These can be perfectly satisfactory if there is a quick turnaround time for response. There is a phone number that I think is in the UK. Perhaps someone living there should try it and let us know how it works. I’m never optimistic about phone support from HYIPs.
In summary, BitDragon is a high interest program that might appeal to the more adventuresome investor. It is probably a rule that, the higher the earnings, the higher the risk. However, high earnings cut break even times way down. But, if a person gets into a program like this shortly after it gets off the ground, the potential for profit is always there while the risk is significantly less. Again, if you’re adventuresome, you might want to make BitDragon a part of a diversified investment portfolio. And, as we always advise, never invest more than you can afford to lose. Good Luck!
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