Since posting this I’ve come to the conclusion that a lot of this is complete shit. The returns are unrealistic and not sustainable, and some of these guys are downright scammers. It doesn’t necessarily mean they are all scammers but I can only comment on the one’s I’ve tried. It’s basically a ponzi scheme. There might be some value in putting a little money in and taking back your intial investment before the scheme collapses, but I get the feeling that they get a few people in and return some great returns to get the momemtum going. They could well be taking a loss on this. But eventually after those first people put in $50 and get some returns, some others will put in $5000 and a few “whales” will eventually put in $500000 and then they’ll close and run off to the bahamah’s. Best advice I can give you is invest in these only WITH MONEY YOU CAN AFFORD TO THROW AWAY.
Here’s something new, that I’ve been getting into a bit of lately. I’m going to be honest here and say I still don’t fully understand what crypto staking is. My limited understanding is that in order to process some kind of crypto transactions they need to verify the transactions against other crypto of the same kind. So in essence you leave your crypto in the care of another entity and for your troubles you get a return.
I’m going to say I was skeptical at first as I didn’t understand this at all. The research I did indicated this is indeed legal and does work. So I found a couple of companies and started work with them. First up you need a crypto account. I used Coinspot (as I already had an account with them) but really that doesn’t matter too much, just use who you already use if you have an account already. You first have to transfer the money into the wallet provider and then into the wallet of the company offering the services. This is where the risk is I guess, you have to hope the company you are dealing with is legit. I have no idea how you’d get your deposit back if the company was a scam. Which let’s face it, 90 of the internet is bullshit anyway, it should always be in the back of your head this stuff could be scam.
I went with two companies, one called Hargay and the other called Quopi
Hargay required a minimum investment of $100 USD worth of crypto (which isn’t a lot in the scheme of things) and promised to return 1.2% per day. The deposit took a while to propagate as an investment but it did so after a few days and the website showed my investments starting to grow. Cool enough. I still didn’t believe this stuff was legit so after the first week or so, I tried to withdraw $5. Would you believe it actually came back into my wallet? Hargay has a bunch of reps which help you out with the transactions, which is cool of them. They could also just list the terms and conditions on the website so you can read in your own time and figure this stuff out. I’m in Australia and my reps are in the UK, so as you can imagine the time differences make things difficult. I tried a few weeks later to withdraw and couldn’t get any success. either way my money was stuck there so no point stressing about it. The terms Hargay offered were 90 days (this counts working days not weekends) so the deposit term is in effect 4 months. After my initial deposit matured, I put in a request to withdraw. I was a still a bit dubious for a few reasons but again I got the money and made a cool $90 on top of my initial $100 and it came back to my wallet once I got my upline to the case. Hargay seem honest if they’re actually paying out, that’s cool but the system is a little convoluted and I can’t help but feel they could be a lot more transparent on how this system works. Either way I got paid so really at the end of the day, and let’s face it, that’s what we’re here to do.
I re-invested my $100 with Hargay and added another $40 out of my $90 payout, so in essence I kept $50 for myself and reinvested the $140. May as well keep this thing going! However now I’ve been told I have to start another account or up my investment to $4000 which seems a little snarky in my opinion. I guess If I have to start the account again and can just put in the $140 that’s cool. Bit of a jerk around, but if that’s what it takes to make some money so be it. The company reps defs try to get you to deposit some large sums of money, which again I don’t feel is ethical. Just put in what you can comfortably afford.
The second company I went through, Quopi. Quopi had a more streamlined interface and was pretty easy to figure out. I made a deposit with them as they only required a minimum of $15 ish USD (its acutally 0.0005 BTC but obviously this can fluctuate with the price of BTC) and the deposit loaded itself the next day and off it went. I was committed to 30 working days with these guys. To keep things on the level I should state I’m not sure if these guys are crypto staking trading on the Crytpo markets using AI technology. Either way, I like this better as you don’t have to wait as long to see if the company is legit. About 12 days in I noticed I had around $3.40 USD in my “available to withdraw” section from the income earned. I put through a request and got my money back into my wallet within 30 mins. This was superb form on their behalf. I didn’t have to bug some guy on the other end of the planet and wait days for it to return. So I put through another deposit of around $15. I find this system much easier to use so I’m definitely going to keep persuing this. I now have 2 x $15 stakes and I would appear to be making almost $3 per week off this already. If this keeps going, I’ll be making some serious money shortly and keep feeding back a portion of my profits to keep this thing expanding.
I’ve now been with quopi for 6 weeks and requested 4 withdrawals. I’m pleased to say these withdrawals landed back in my wallet in around 30 mins each time I requested it. I’m seriously impressed with this company. I’ve put in a little more money and now making a regular little side income from this this. I’ve got my income upto $15 a week, out of which i’ll keep $5 and re-invest $10. I will definitely be putting more money into this as I can to build up an even better income.
I will put some words of caution here. I don’t know if the game will change and the returns on these investments start drying up as more people get involved. Just take the money while it’s there and as always DON’T punt money you can’t afford to loose. Let’s face it if the companies decide to shaft you or go bankrupt you have no way to get your money back. Also what if laws change and this stuff becomes illegal?
I aslo make a point of pulling out regular income from things like this. You don’t know how long they will be around for so you don’t want to keep re-investing only to have the company vanish and you get nothing. At least this way I can say I pulled some money out of the whole thing even if it does vanish into thin air. Let’s face it, this is always on the cards with this type of thing.
Either way for the time being I’m going to keep throwing any spare change Into this Crypto Staking thing. I will also try and find more companies to work with, so I have multiple streams of income incase some of these companies “Disappear”. I look forward to seeing where this stuff goes. I’ll definitely keep you all updated too!
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