First Thoughts on Octoin.
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 cryptocurrency mining and trading. Generally, I am skeptical about companies that claim to be involved with both these activities as they would appear to require professional staff 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 myself 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 get 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 the Octoin website 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 its length. 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 plan, 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.
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