This program moved to CLOSED! Do not invest there!
The BitWave Investment Plans.
In our recent “First Thoughts” article about BitWave, we summarized their investment plans in the following way:
For the online investor, BitWave offers three very easy-to-understand investment programs. They are what we refer to as “perpetual” investment plans, meaning that you receive interest from your deposit forever — the same as you would from a bank savings account. Also like a bank account, you can withdraw your deposit at any time after a 48-hour waiting period. A fee of 5% of your deposit amount is charged if you choose to do this. An interesting feature of the investment plans is that they pay interest on an hourly basis rather than on a daily basis. There is certainly nothing wrong with this and cautious investors might like the idea of being able to withdraw their earnings a number of times per day. Depending on the size of your investment, the plans pay between 0.15% to 0.20% per hour. This translates to from 3.6% to 4.8% per day, which makes the BitWave program a very lucrative one. We’ll attempt to determine the pros and cons of these investment plans in our review of the program which should be available in the next day or two. Please stand by…
Here is the complete information on the three BitWave investment plans as it appears in the website, I’ve also converted the hourly interest rates that are given into daily ones — since most readers might be more used to thinking in those terms.
Plan #1
0.15% per hour
3.6% per day
$10 – $999
Plan #2
0.17% per hour
4.08% per day
$1,000 – $4,999
Plan #3
0.20% per hour
4.8% per day
$5,000 and up
Analysis of the BitWave Investment Plans.
When analyzing a company’s investment plan offerings, we typically determine two quantities that we believe are essential to know about when deciding whether or not to invest with the company. These are when the investment plans break even and what the average daily net interest (DNI) that you can earn from them will be.
Breakeven points are very easy to determine and let’s begin there. Looking at Plan #1, if you divide 100% by the 3.6% gross daily interest that you will receive from the plan, you find that you will have recovered your investment — broken even — after around 28 days. Doing this same calculation for the other two investment plans, you get the following results:
Plan #1 28 days
Plan #2 25 days
Plan #3 21 days
Determining DNI is a little more difficult as it depends on the length of an investment plan as well as on the interest rate that it pays. Since these are “perpetual” investment plans, the best we can do is to ASSUME different lengths of time that the program might survive and determine DNI for each of them. Let’s do this assuming 30, 60, 90, 120, 150, and day survival times for the program. Naturally, we hope that the program will be around for much longer than this. However, the results that we get for these sample calculations will give us a very good idea as to how much money you can earn from this program.
We’ll start by looking at Plan #1 and assuming that it will survive for only 30 days (that’s only a few days more than when the plan breaks even). Making this assumption, the total gross interest that you would earn in this period would be the daily gross interest of 3.6% times the 30-day period. The result is 108%. If you subtract 100% from this, you will get a total net interest (profit) of 8%. Finally, dividing this by the 30-day assumed length of the investment plan, you get an average daily net interest (DNI) of 0.27%. Repeating this arithmetic for the other longer assumed lengths for this investment plan, you get the following values for DNI:
Plan #1
Length of Plan DNI
30 days 0.27%
60 days 1.93%
90 days 2.49%
120 days 2.77%
150 days 2.93%
180 days 3.04%
So, you can see that, even only a month or so after the plan’s breakeven point, this becomes a very lucrative investment plan. But, more about that when we discuss the investment plans later on in the review…
Next, let’s do the same set of calculations for the other two investment plans. If you do this, here are the results that you would get:
Plan #2
Length of Plan DNI
30 days 0.75%
60 days 2.41%
90 days 2.97%
120 days 3.25%
150 days 3.41%
180 days 3.52%
Plan #3
Length of Plan DNI
30 days 1.47%
60 days 3.13%
90 days 3.69%
120 days 3.97%
150 days 4.13%
180 days 4.24%
OK, we have a lot of information to discuss now. And, that’s what we’ll do in Part 2 of this review of the BitWave investment program. Part 2 should be available in a day or two. Please stand by…
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