This program has STOPPED paying! Do not invest there!
Analysis of the Bitify Investment Plans.
In our recent “First Thoughts” article about Bitify, we attempted to summarize the company’s activities as given in its website and also introduced its investment plans. To repeat, here’s what we said about the investment plans.
But, perhaps of more interest to readers of Emily News 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.
With that as an introduction, let’s take a look at the three Daily plans first. Here’s the information that is given about them in the website:
Trial
2.2%/day for 15 days
$10 – $2,499
Commerce
2.6%/day for 30 days
$2,500 – $14,999
Business
3.0% for 45 days
$15,000 – $50,000
The website also gives the total gross interest for these plans. However, we can easily determine it ourselves from the other information that is given. For example, in the Trial plan, if you multiply 2.2% by the 15 day length of the plan, you get a total return of 33%. This is a NET return because your principal will be returned to you at the end of the plan. So, the total GROSS return will be 100% more than this or 133% — which is what is given in the website. To emphasize, since your principal is returned to you at the end of the plan, the 2.2% daily interest that you receive is NET interest — daily net interest, or DNI.
To determine when a program will break even, you divide 100% by the interest that is returned to you on a daily basis. For this plan, we divide 100% by 2.2% to get around 45 days. The plan is only 15 days long. So, in this case, you won’t break even until the plan ends and your principal is returned to you,
The arithmetic goes just the same for the other two Daily plans, except that, in the case of the Business plan, you will break even BEFORE the plan ends — in 34 days (100/3). Summarizing this information for the three Daily plans, we have:
Trial
DNI = 2.2%
15 days to break even
Commerce
DNI = 2.6%
30 days to break even
Business
DNI = 3.0%
34 days to break even
Now, let’s move on to the three “After” investment plans. Here is the website information on these plans:
Active
Total gross return of 160% after 20 days
$100 – $4,999
Optimal
Total gross return of 240% after 40 days
$5,000 – $24,999
Imperial
Total gross return of 340% after 60 days
$25,000 – $75,000
Let’s take a look at the DNI for each of these investment plans. For the Active plan that pays you a total gross interest of 160% after 20 days, your total net interest will be 100% less than this (because the gross includes your principal). So, the total net interest will be 60%. Dividing this by the 20-day length of the plan, we get a DNI of exactly 3.0%. Doing the same arithmetic for the other two After plans, we get the following results for DNI:
DNI
Active 3.0%
Optimal 3.5%
Imperial 4.0%
As far as breaking even is concerned, since you don’t earn a penny from these investment plans until they end, that’s when you will break even.
Finally, let’s take a look at the two VIP investment plans. They work the same way as the After plans paying you both your earnings and your principal back at the end of the plans. What distinguishes them from the After plans is the very high interest return. Here’s the website information on them:
Special
Total gross return of 1,000% after 100 days
$10,000 – $50,000
Individual
Total gross return of 5,000% after 200 days
$1,000 – $100,000
In exactly the same way as we did for the After investment plans, we can also determine the DNI for these plans as well. For example, for the Special plan, the total net interest would be 100% less than the given total gross interest of 1,000% and is 900%. Dividing by the 100-day length of the plan, you get a DNI of 9.0%. Working in exactly the same way, you will get a DNI of 24.5% for the Individual plan.
OK, now we have the “facts” on all of the eight Bitify investment plans. Let’s see what all this means to us as potential investors in this program. There is a lot to digest here and this is what we’ll do in Part 2 of this review which should be available in a day of two. Stay tuned…
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