First Thoughts on Bitify Limited.
We just began a listing for Bitify Limited (Bitify for short) on the Emily News monitor. Bitify launched its online program on February 21, almost exactly three weeks ago. In this short time, they have attracted over 1,000 users who have invested over $100,000. That’s equivalent to attracting well over 300 users per week who have each made an average investment of over $100. Pretty good progress I would say.
Bitify claims to be in the business of applying blockchain technology to applications other than cryptocurrencies. This is somewhat “over my head” as I don’t even have a good understanding as to how blockchain works in normal cryptocurrency applications! But, according to the website, “BITIFY LIMITED is engaged in large-scale analytics of the investment prospects of startups, developing in the field of introduction of blockchain technologies in finance, real estate, medicine, aviation, energy and information protection.” Specific examples are given as to where in each of these fields blockchain technology can be applied. Here are the examples that were given in the website:
FINANCE: Cryptographic currencies, ICO tokens and commercial smart contracts
ENERGY: Energy transactions without intermediaries, trade in excess energy
DATA PROTECTION: Data protection from cyber attacks and increasing the level of digital security
MEDICINE: Storage and analysis of medical data, contracts for the provision of services
REAL PROPERTY: Registration of property rights and related transactions
AVIATION: Air flights safety systems, control of technical qualifications
But, perhaps of more interest to readers of EmilyNews are the investment plans that are offered by Bitify. There are a lot of them, eight to be exact. Three of them are called “Daily” plans because they pay interest on a daily basis and also return your deposit at the end of the investment plans. The interest rates paid in these plans are slightly high but not unreasonable. The next three plans are referred to as the “After” plans because both your earnings and deposit are given to you after the plan ends. The interest paid for these plans appears to be higher than that paid for the Daily plans. Finally, there are two VIP plans. One of these plans pays a phenomenal 1,000% interest after the plan ends while the other pays an even more amazing 5,000%. There will probably not be too many takers for these plans, however, as either the minimum investment or the length of the plan is very high. Both would serve as deterrents for investing in these plans. There is a lot to discuss about these investment plans and that’s what we’ll do when we review the Bitify program. Please stand by for the review which should be available here in the Emily News blog within the next few days.
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