This is SCAM project already! Do not invest there anymore!
Anyone who knows even a little about Bitcoin mining is aware that the cost of power to operate the huge computers that are required for this sort of enterprise can very quickly get out of hand. I am aware of one Bitcoin mining operation that set up shop in Iceland because power there is very cheap as it all comes from renewables — in their case due to their never-ending resource of geothermal energy.
EcoCoins has taken this concept a step further and is using other forms of renewable energy as the power source for their Bitcoin mining operation. Specifically, it appears that they are primarily using solar photovoltaic (PV) panels as the means of generating power. This is probably a good choice as the cost of PV has dropped radically in the last 10 to 20 years. This is evidenced by the appearance of solar “farms” in many locations, not to mention the common use of PV for household power generation.
Of course, the trade-off is always the relatively high initial cost for a PV farm. While the power generated is essentially free, the initial investment in equipment can be considerable. This is where the private investor comes into play with EcoCoins. They need the funds for this upfront investment and are willing to pay the investor attractive interest rates in order to get it. And this brings us to the investment plans offered by EcoCoins…
First of all, some of the written material, including the FAQ, refer to “JuniorPlus” and “Guru” investment plans. However, in the investor’s account section, these plans don’t seem to exist. So, I am ignoring them in the following comments. The Admin of the program should clarify this.
There is also another point of confusion. In the listing of the investment plans, it states that the principal is included in the percent return (your interest earnings). However, in the investor account section, it states that “We will return Deposit amount back to your balance at the end of Investment period for withdrawal or reinvesting.” This is extremely confusing. On one hand, the investor is lead to believe that he will receive daily interest earnings (that he can withdraw) and that his deposit (principal) is returned to him by that means. This is the typical procedure for this type of investment plan that pays daily interest earnings. On the other, it clearly states that the deposit will not be returned till the END of the investment term. This is very confusing. Rather than analyze this further, I am going to assume that the FIRST interpretation is correct. Perhaps the second interpretation refers to the “JuniorPlus” plan that doesn’t appear to be in use anymore. This is another area in which the Admin should clarify things.
But, on to the EcoCoins investment plans. There appear to be five of them. They all pay you daily interest earnings and your initial deposit is included in these earnings. The difference between the plans is the interest rate paid and the investment term. It looks like the minimum and maximum investments are keyed to Bitcoin. However, in fine print, the corresponding dollar amount of given. Since I don’t “think” too well in Bitcoin, I’m going to use the dollar amounts. However, be cautioned that they might change when the exchange rate between dollars and Bitcoins changes. But, I don’t think this will influence what I say here at all. Here is a summary of the investment plans:
Starter
8.03% per day for 14 days
Gross earnings percent: 112.42%
Net earnings percent: 12.42%
Days to break even: 13
$6.08 minimum and $30.41 maximum
Standard
5.85% for 21 days
Gross earnings percent: 122.85%
Net earnings percent: 22.85%
Days to break even: 18
$18.24 minimum and $121.63 maximum
Master
4.70% for 28 days
Gross earnings percent: 131.60%
Net earnings percent: 31.60%
Days to break even: 22
$60.81 minimum and $608.15 maximum
Advanced
3.63% for 42 days
Gross earnings percent: 152.46%
Net earnings percent: 52.46%
Days to break even: 28
$121.63 minimum and $6,081.50 maximum
GuruPlus
3.85% for 46 days
Gross earnings percent: 177.10%
Net earnings percent: 77.10%
Days to break even: 26
$6.081.50 minimum and unlimited maximum
In this listing, in addition to information in the EcoCoins website, I’ve added gross earnings percent and net earnings percent. The first is simply the daily interest rate times the number of days. Since this includes your deposit (principal), your TRUE profit or net earnings percent is 100% (your principal) less than this. Finally, I’ve included the number of days to break even. This is simply 100% divided by the daily percent you are paid. Don’t worry if this sounds confusing. We’ll work a numerical example next.
Let’s take a look at the “Standard” investment plan to get a feel for how all this works, assuming an investment of $100. The plan pays you 5.85% interest per day which, for a $100 investment, is $5.85 per day. So, after the 21 days are up, you would have a gross return of 122.85% or $122.85 (5.85 x 21). Since $100 of this is your initial investment, your pure profit would be $22.85 (122.85 – 100). The days to break even can be taken as the initial investment divided by your earnings per day or 18 days (100/5.85 — which is only slightly over 17 days, but we call it 18 days to be on the safe side). So, you break even only three days before the end of the plan. All of this information was in the listing above. This is a review of where the numbers come from.
As you compare the five plans, you will observe that, as the term of the plan increases, the interest rate decreases. However, the numbers are carefully chosen such that the percent of pure profit increases as the term increases. However the minimum deposit also increases. So, the carrot for greater profit comes with increased risk. You have to invest more and you have to wait longer to break even and start earning pure profit. This is the nature of the HYIP world. If you are a gambler and are willing to take risks, there is a chance for greater profit.
The GuruPlus is an exception to these observations as the interest paid is HIGHER than the preceding plan. This makes it exceptionally profitable. However, the minimum investment is over $6,000. That’s a lot of money to put at risk in a HYIP.
As I already indicated, even though it isn’t completely clear, it is probable that the interest is paid on a daily basis and that you can withdraw it as soon as it is posted in your account. The minimum that you can withdraw is .0001 BTC which is roughly equal to $1. EcoCoins says that it usually takes “a couple of hours” to process a withdrawal, but that it can take up to a maximum of three days. This is quite slow, but it gives EcoCoins a little bit of slack if, for one reason or another, they are unable to process a withdrawal request right away.
Deposits and withdrawals are by means of the following payment processors: Bitcoin, Perfect Money, and AvdCash. However, plans are in place to add more processors in the future.
EcoCoins has an elaborate three level affiliate program. The first level is open to anyone who registers, whether or not he has an active deposit. It’s the typical HYIP affiliate program and pays commission on the deposits made by people in the first three levels of an investor’s downline. Starting at the first level, the commission rates are 3.15%, 2.21%, and 1.18%. These are lower than commissions offered by most other HYIPs.
Requirements for the second level of the affiliate program are a bit complicated. You have to have an active deposit of at least 0.5 BTC (around $500) and at least 15 registered members in the first level of your downline that have a total investment of at least 2.5 BTC (around $2,500). If you fulfill these three conditions for a period of four weeks, you are eligible to receive the benefits of the second level of the affiliate program, also for four weeks (so, you can be put back to level one of the affiliate program if your performance slows down.). The monetary benefit of this level of the affiliate program is a percent of the INCOME of people in the first three levels of your downline. Starting on the first level, these commission rates are 2.4%, 1.9%, and 0.7%. This is a nice addition, but it should be clear that we are not talking about large quantities of money here. For example, suppose that a person in the first level below you has an investment of $100 and he earns 3% of this, or $3, per day. Your commission on these earnings would be 2.4% of this or $.07 (3 x .024), around seven cents. If a person on the third level beneath you had earnings of $3, you would only earn 0.7% of this or $.02 (3 x .007), around two cents.
Requirements for the third level of the affiliate program are still more stringent, starting with a personal deposit of 5 BTC (around $5,000). The other requirements as well as the benefits of this level of the EcoCoins affiliate program can be found in the website.
Support is by means of email as well as the standard contact form. I suspect that they go to the same place. There is also a chat feature that only operates during business hours: 0900 – 1600 (I am not sure of the time zone!). It was off when I wrote this review but, assuming it is on during the company’s business hours, this is a wonderful plus as a means of contact.
All in all, EcoCoins has a unique concept that I think is a first in the HYIP industry. Given the high cost of energy in many locations, it makes good sense to power a Bitcoin mining operation with alternate energy sources. If the company can generate the start up cost of the solar farms required for this purpose, this could be a winning program. All this said, you might want to invest with EcoCoins. As usual, our advice is to diversify your investments among a number of such programs and, most important, to never invest more than you can afford to lose. Good Luck!
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To the Admin: We always welcome comments on our reviews — pro or con — and we will be happy to publish them in the Emily News blog.
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Please don’t forget that you can post your screenshots of payment, scam, or other proofs related to a program by clicking on the “Details” button in the Emily News monitor. Also, don’t forget that you can add your referral link when you post your proofs — another way to build your downline.
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