This program moved to CLOSED! Do not invest there!
The BittAce Investment Plans.
In our recent “First Thoughts” article about BittAce, we summarized the four investment plans that they offer in the following way:
For the online investor, BittAce offers four medium-term investment plans ranging from 24 to 45 days long. Two of the plans pay interest daily and return your investment as part of your earnings while the other two retain both your earnings and investment until the conclusion of the plan. You will remember that we often remark that investment plans of the first type are the least risky because, from the beginning, the portion of a person’s investment that is at risk (in case the program closes prematurely) is rapidly decreasing. On the other hand, plans of the second type are the riskiest because a person can lose everything if the program closes early. BittAce appears to compensate for this by offering very high interest rates in these two high-risk plans. However, the rates that are offered might be SO high that it will be impossible for the company to sustain them.
We will take a closer look at the BittAce investment plans when we review the program in the next day or two. At that time, we will come up with some numbers such that we will be able to make a very logical determination of both the profitability and risk associated with this investment program. Please stand by…
Here’s the detailed information on each of the four BittAce investment plans as it appears in their website:
Ace Clubs Plan
5% daily for 30 days
$10 – $1,000
Ace Hearts Plan
7% daily for 24 days
$50 – $10,000
Ace Spades Plan
300% after 30 days
$10 – $10,000
Ace Diamonds Plan
600% after 45 days
$10 – $10,000
Analysis of the BittAce Investment Plans.
Let’s begin our analysis by determining average daily net interest — or profit — that each of the investment plans pays you. We refer to this as DNI and it is simply the total net interest that an investment plan pays you averaged out over the length of the plan. For the Ace Clubs Plan, the total gross interest that you will receive is the 5% daily gross interest times the 30-day length of the plan. The result is 150%. Subtracting 100% from this to account for the fact that it includes the return of your investment, the total net interest that you will receive is 50%. Finally, dividing this by the 30-day length of the plan, the average daily net interest (DNI) that the plan pays you will be 1.67%. Similarly, for the Ace Hearts Plan, the DNI works out to be 2.83%.
For the Ace Spades Plan, the arithmetic is a little bit different. The plan pays you a total gross interest of 300% when it ends. To get the total net interest, you must subtract 100% from it to get 200%. Finally, averaging this out over the 30-day length of the plan, you get a DNI of 6.67% (200/30). If you do the same arithmetic for the Ace Diamonds Plan, you get a DNI of 11.1%.
In summary, here are the values of DNI for all four of the BittAce investment plans:
Plan DNI
Ace Clubs 1.67%
Ace Hearts 2.83%
Ace Spades 6.67%
Ace Diamonds 11.11%
Next, let’s quickly determine how long it will take each of these investment plans to break even. For the Ace Clubs Plan, you simply divide 100% by the portion of your investment that you are recovering on a daily basis. For this case, you divide 100% by 5% to get that the plan will break even in 20 days. If you do the same arithmetic for the Ace Hearts Plan, you will get that that plan beaks even in 15 days. For the Ace Spades and the Ace Diamonds Plans, there is no arithmetic involved since you don’t receive any return at all from these two plans until they end. So, that’s when they break even.
Here are the results for breakeven points in summary form:
Plan Days to Break Even
Ace Clubs 20 days
Ace Hearts 15 days
Ace Spades 30 days
Ace Diamonds 45 days
In Part 2 of this review we’ll take a close look at these numbers in an effort to be able to say something concrete about the profitability and risk of the four investment plans. We will also try to draw a few conclusions — pro and con — about the overall BittAce program. Part 2 should be ready in a few days. Please stand by…
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