Ultra-Mining — Review

This is  SCAM project already! Do not invest there anymore!

As the name of the company implies, Ultra-Mining is involved with cryptocurrency mining, specifically the mining of Bitcoins.  The company “has been engaged in software development and computer engineering since 2010.”  They explain that their “investment model, which until recently was only available in several Asian countries for a small number of corporate partners,” is now being made available to a broader audience due to their long experience and “innovation.”

Ultra-Mining is a Chinese company and is registered in Hong Kong.  This might explain the roughness of the English version of the website which is a little hard to understand at times.  We at Emily News count this against a company for a number of reasons.  For a discussion of this, please refer to HYIP Insights #2 that you can read here.  However, it is nice to see a company come along registered elsewhere than in the United Kingdom, often with articles of incorporation that cast doubt on the legitimacy of a company.  You may have noticed that we discussed this in reviews we made of a number of other HYIPs lately.

Ultra-Mining’s investment plan is unusual in that your investment is never returned to you.  It becomes a part of the company’s working capital and you receive earnings on it forever.  In a sense, this is like buying stock and then receiving dividends for the life of the company.  There are three levels of investment that pay from 0.8% to 3% daily interest for every calendar day.  The amount of interest that is paid depends on the size of your investment.  Here’s a summary of the three investment plans:

0.8% Plan
min: $10
max: $500

1.2% Plan
min: $501
max: $2000

3.0% Plan
min: $2001
max: $5000

I will note in passing that these investment limits are much more realistic that those posted by many other HYIPs.  In the case of Ultra-Mining, an investor might actually come along who will invest a few thousand dollars.  In contrast, the investment limits in the hundreds of thousands of dollars listed by many other HYIPs are a joke.

Let’s work a few examples to see how these different plans would work out for you:

0.8% Plan.  For an investment of $100, you would earn $0.80 daily (.008 x 100).  You would break even after 125 days (100/.08).  This is quite a long time, around four months.  The time to break even would, of course, be the same no matter how much you invest between the limits of $10 and $500.

1.2% Plan.  For an investment of $1,000, you would earn $12 daily (.012 x 1,000).  You would break even in 84 days, somewhat less than three months.  This is a little better than the 0.8% plan.  Again the breakeven point is the same for any investment between $501 and $2,000.

3% Plan.  For an investment of $3,000, you would earn $90 daily (.03 x 3,000) and you would break even in 34 days (3,000/90), around one month.  If you have over $2,000 to invest, from the point of view of the breakeven point, this plan is the way to go.

It is important to realize that, once you make an investment to Ultra-Mining, you will never see it again.  Yes, you will earn daily interest from it for as long as the company survives.  However, it is impossible to withdraw it or even a part of it.  Likewise, it is impossible to add to your deposit.  So, if you would like to invest more, you must make a new deposit and all of your deposits are treated separately.  The point is that you can’t add to your initial investment to bring it up to a higher interest rate.

Earnings are posted every 24 hours.  All deposits and withdrawals must be made by means of Bitcoin.  This implies that there might be delays as transactions are being verified.  Deposits can be posted in as little as one half hour but could take as long as 24 hours.  No time limit is given for processing of withdrawals.  As indicated in the investment plan summaries above, the smallest investment allowable is $10.  The smallest withdrawal is $0.10, although I can’t see why anyone would like to make such a small withdrawal unless he is just checking how the system works.  After all, what can you buy nowadays for $0.10?

Bitcoin is the only payment processor that is presently used.  I guess that makes sense for a company that is involved with mining Bitcoin.  However, it appears that additional payment processors will added in the foreseeable future.

Ultra-Mining has a respectable referral program.  It pays you 5% of deposits made by people that you refer (on your first level), 3% of deposits on your second level, and 1% of deposits on your third.

Assistance is by means of the standard contact form or email, which I assume both go to the same place.  There is also a Hong Kong address and phone number.   I didn’t try to call the phone to test if it is functional.

Everything said, Ultra-Mining might be worth considering adding to your investment portfolio.  However, as the saying goes, “don’t put all your eggs in one basket.”  Diversify your investment portfolio and never invest more than you can afford to lose.  Good Luck!