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by Raiel Schwartz
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Everyday about three dozen new HYIP sites come out offering to be the solution to your financial dreams and promise you a life fulled with riches and satisfaction. I'll tell you right off the back there lying. Yes, these HYIP sites are straight out lying to you. Studies show that %99 of HYIP sites are scam, and from my experience this statistic holds true. HYIP stands for High Yield Investing Program. When we think of investing we think of Wall Street, Stocks, Bonds, and all that good stuff but on the internet HYIP is just a coverup scam sites use to take away your money. Most HYIP sites are Ponzi Scams. The name Ponzi comes from the man Charles Ponzi who scammed millions of dollars from his Friends, Family, Coworkers, etc. Charles Ponzi paid out his original investors from the investment of others, the same type of scam happens today. The basic setup for scams is that a new HYIP site comes up claiming they are backed up by Forex Trading. They say all these words to draw you in there trap and at first they probably do pay you, however a few weeks later the site will run away with all the money from investors and you will be left in the dirt. Hundreds of new HYIP sites are made every week and people still fall into their scams, I wouldn't be surprised if it was just a group of a small individuals just massively making new HYIP's due to the fact that people keep investing (and losing) money in them. Now by reading the first couple of paragraphs, your probably now scared into investing anything online, which is okay, HYIP's are usually run as games and when the payout reaches a certain percentage they stop paying and start a new round. People usually get carried away because they see there making money so they invest all the money they make back into the same program, that's mistake number one. First thing you DO not want to do with HYIP's is reinvest your principal money, take that out ASAP and play only with your profits. There are many more common mistakes and I will discuss them in the upcoming paragraphs.
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