6/11/2010 CherryShares and Recent News

Hello Everybody, before I get started with today's review on CherryShares, I want to remind each of you to make sure that you read the Recent News which will be at the bottom of today's review. Sometimes I will post it at the end of a review and other times it will be a separate posting or both, depending on how much news there is that day. And today seems like there is plenty of news and a lot going on, unfortunately!

As I mentioned yesterday, I am doing a review on CherryShares today, which is a long-standing HYIP that has been running for over a year now. In fact, they are in their 15th month as they started in April 2009. I have been watching it now for around 6 months now and it seems like the most stable one out there right now. It also seems like they are very prompt payers and they always e-mail right when they get done with day's payouts. I always get an e-mail letting me know when they are done which is kind of nice. I always like to know when my money is available or has been credited.



On the CherryShares website, it says that they have 3 investment plans, but they recently added a new one so there is now 4. They have the information for all 4 plans listed and a way to deposit in all 4 so that is just a statement that needs to be updated. I will discuss all 4 investment plans here, but I think that most of us would be investing in the first 2 as the last 2 can get a bit pricey.

The first plan is called the Short-Term plan and it pays 5.8% interest weekly. The minimum to invest is $50 and the maximum is a whopping $10 million per week!! Interest is available to be withdrawn anytime and 50% of the of the short-term balance is available for withdrawal after 2 week pay periods. 100% of the short-term balance is available for withdrawal after 3 week pay periods. It is stated on the website that the week pay period covers 7 days and that interest payments are processed from each Friday at 5 AM EDT to each Sunday night for any investment plan. The rate of interest here is not an enormous one like were used to seeing in some of the shorter term HYIPs but this one is probably one of the best ways to do a test spend to make sure that you are happy with the performance of CherryShares. For the most part I think that this HYIP was meant mainly as a long-term investment. So it is nice that they offer something for the person that does not want to commit long-term but still wants to test it out.

The next plan offers a way to make a bit more money but is a much longer commitment. It is called the Daily Plan and the rate of interest is 1.1% daily and like the last plan requires a minimum of $50 to start and a maximum of $10 million per week. On the website, they really throw around some high numbers and I don't know about you but it really shocked me at first. Do people really invest this kind of money in investment websites like this? I don't think so but I have heard of the occasional higher roller but never as high as the numbers here. Back to CherryShares though, the 1.1% interest that is paid daily is available for withdrawal anytime. The commitment here is quite long as it is 315 days but at the end of those 315 days, they refund your principal. The nice thing with this plan is that compounding is allowed and the compounding cap is set at $50 million. I don't think that one will affect too many people either lol.

If you go to their balances page, they have a spot on the right hand side where you can go to their calculators page to calculate daily interest and total interest and it gives you a list by the day which is really nice. I decided to put in $100 to see what it would come out to be. If I made a deposit on June 12, 2010 of $100, the investment period of 315 days would end on April 21, 2011. I decided to put a tick mark in the compounding box to see what I would end up with after compounding. The total came up to be $3,002.61 which doesn't include the $100 principal that would be returned as well. That's a pretty good investment but that's assuming that the program made it the whole 315 days. CherryShares has made it well past that already and I'm sure the ones that have invested using that option are very happy today. I did read of quite a few that did invest with that option on some of the well-known forums as they left their comments and then there payment proofs. It's something to think about at least. One could always withdraw their interest to get their principal money back and then decide to compound after that and take a chance. If it worked out it would be a nice payday, wouldn't it?

The 3rd plan is called the Medium Term plan and it is a weekly plan that pays 8.7% weekly and it lasts for 50 weeks. You can withdraw your interest anytime but the balance will stay in until the investment period ends. The minimum investment is $5000 and the maximum is the same as in all 4 plans at $10 million per week. I am assuming not many will be considering the last 2 plans but I will go through them briefly for those that are interested.

And the final plan is called the Long-Term plan and states that CherryShares used to only offer this plan to a limited amount of people but it has become increasingly popular due to the financial crisis of the last year. It talks about the huge profits you can make with this plan and the financial difference it can make in your life, which is very true. But also true would be the big difference it would make in your life if you lost that kind of money. The minimum to invest is $20,000 and the max is the same at $10 million per week. The interest rate is 9.9% weekly compounded. Yes, I said compounded, so that means that you would not get any interest money until the end of the investment period which is 75 weeks! That is quite a term there. The total balance with principal and interest would be paid at the end of that period. I would urge all of you to really think about it before you did something like this as it could really affect most people's life terribly if it didn't work out. Definitely, do an amount that you are comfortable with first and then if you feel like raising it, then do it at that time. I truly think that these amounts are too large to invest in a HYIP, but there may be some highrollers out there that can afford it. I know I definitely cannot though and would be sick if I lost that kind of money.

Just for the heck of it, I did the calculator at $20,000 compounded with a start date June 11, 2010. It said 75 weeks later would be November 18, 2011 and the total interest made on that $20,000 investment would be $26,092,870.66!! At that point, you would still be getting your $20,000 principal back to add to that. Is this possible? They say it is but I do not think so. I think that if this were entirely possible that there would be a lot of people doing this as $26 million is a lot of money.

Now, I am not trying to discredit this HYIP at all, as I think they have done a wonderful job in lasting 15 months all while maintaining an impeccable payment record daily. The forums all rave about CherryShares and there are pages upon pages of posts all with the payment proofs from quite a few reputable posters, so I do know that they have had a great past. How long will they last into the future? I am thinking that this has got to be one of the most stable HYIP's out there and that they have perfected a way to invest their funds just because of the length of their run.

It is stated that they have changed their original investment of Forex and real estate and now they have found a way to make a high profit by converting certain currencies. They stated that this is completely legal and does not have any negative side effects. I'm not sure but I do think that they must be doing something besides what the traditional HYIP does which is use new money to pay off old deposits, which we all know eventually ends program when the funds are not enough to pay.

They do have quite a group of people and businesses alike promoting them from forums, blogs, monitors and customers and quite a few of them are listed on one of their pages.

As for their payment processors, they have 3 to choose from and they also offer Bank Wires. I was really glad to see that AlertPay was among the mix. You can pick from LibertyReserve, PerfectMoney, AlertPay and Bank Wires. If it were me, I would be picking AlertPay. I will be talking a little bit more about AlertPay in the Recent News section today and why they are so important in this field.

As far as security goes, CherryShares is definitely up to snuff. They have SSL encryption and are hosted on a dedicated server. They have went to the extra expense of getting an excellent DDoS service provider, which is BlockDos. They are well known in the industry for thwarting any DDoS attacks as they happen, leaving the attacked website unaffected and unharmed. Definitely a good sign there.

Cherryshares is listed as a Brooksell Universal Limited Company that is located in Hong Kong. The website lists their registration number as No. 2164408 but I did not verify it. It is entirely possible that that is all true as it is not very hard to become incorporated or registered etc. The managing director is listed as Dane W. Wolf and I have seen him quite active in the forums and other websites and when he sends e-mails he uses this name.

If you should need any help or support, they have a help section and if you cannot find your answer there, you can go to their contact page where they have a form. Fill out a support ticket there and they will get back to you fairly quick. They actually answered one of mine in less than 3 hours yesterday so I was glad to see they were still as responsive as they seemed a few months earlier.

All in all, Cherryshares looks to be quite stable as their record proves and there are a lot of options to mull over. One especially is whether to compound or not. I for one, would be inclined to compound after my initial principal was recovered through the interest payments. After that you could let it accrue as it really does mount up as time goes by. Check out the calculator page and be sure to make the right choice that fits your situation. Please treat this as it is, a high-risk game but one that can yield high profits. That it has done but I do not want to see anybody lose more than they can afford to lose and of course I wish you all the best of the best as with any of your HYIP investments.

Recent News-

There have been a few shocking closures lately and the one that upset me the most was StaunchFinances which had e-mailed just a few days prior to that saying that their financial state of affairs was great. I guess every HYIP admin says that because if they didn't, then nobody would reinvest with them. But still it is dishonest, and I think it would be better to just not say anything at all rather than to lie to us. I was very surprised when I learned of this closure and have become quite disenheartened at all the obvious scam that has been running amuck throughout the HYIP industry lately.

There are a few different things you can do to minimize your risk and even though I have mentioned them a few times lately, I am going to mention them again for those that are not aware. I do not mean to sound redundant or like a broken record but I want those that are new to be aware and be able to minimize their losses so that they can be in profit like those of us that are more experienced with HYIP's.

First of all, I would look for and only invest in HYIP's that accept AlertPay, at least until the summer is over. If you find an HYIP that looks exceptionally good, it may be worth it to break this rule but only if it is exceptional in all other areas. The reason that I suggest AlertPay is because in order to use this payment processor they must be verified through several different areas by faxing their identity, banking statements, ID's etc. As a business it is a much more rigid verification than a personal account but even personal accounts go through verifications. AlertPay is one of the few processors that have options to get your money back in case of a scam. They have been known to freeze a HYIP's account if they know or realize it is a scam and then refund monies back to the customer. They also have other avenues to get your money refunded in the case of a loss/scam and have become known for this.


Most administrators that cannot verify their identity or if they are using a fake identity will often shy away from AlertPay and tend to use LibertyReserve and PerfectMoney only. These processors do not verify anything and once you spend your money with them, then it is a done deal. It's gone and they will not do anything about scams or do any type of reversal ever. That is how they work.

I'm not saying that I will not ever use these processors as I'm sure I will if the HYIP passes all the other criteria that I use when deciding if I will personally invest. I think that this industry will get stronger towards the end of summer/beginning of fall and that there will be better opportunities for financial gain then. However, that does not mean that you cannot make money now but it is important that you use extra safeguards to make sure that you do.

The 2nd thing that I would do, would be to invest a lower amount if I thought the program wasn't as stable as the rest of the programs in my portfolio. And then I would make sure that I would have my funds invested across a group of 10 to 20 HYIP's. By diversifying your funds, I think you have a better chance at being and staying in profit even in lean times. Say you have your money invested in 20 programs and 10% of them end up failing which could be very likely. Out of those 20, assuming 10% or about 2 of them fail leaving you with 18 making a profit to fall back on. This will not affect you as much if you have diversified like that. I realized 20 sounds like a large number but that doesn't mean that you have to invest $200 in each one. A lot of HYIP's have lower amounts for minimums, so maybe you could try $20 in each one. That would be a total investment of $400 over all 20 and if that sounds too much, you can even find ones that will let you start out with $10 or even less until you can work up your profit and raise it to $20.

Another good idea, is to find someone that is experienced and is making a continual profit in this industry. Ask them if they care if you follow them. A lot of times they will give you advice and a coach you a bit, especially if you agree to sign up through their affiliate links. It doesn't cost you anything by doing that and you would benefit from their experience. If you pick a wise coach you should be making a good profit within a short period of time. I will try to expand upon these things as time goes on to help some of you that are new to the HYIP industry.

I have been writing an e-book in PDF form about this topic, so if you are interested in receiving it, I will be sending it free to all on my e-mail list and RSS feed list. All you have to do is be on one of those lists and you will get it when it comes out (hopefully soon). You can sign up in the right-hand sidebar on this page or on the main page of my blog in the sidebar.

There are a few programs I want to warn you about: the first one is GoldWayMoney. They went by way of scam fairly early. I think they might have made it 4 cycles but they were only three-day cycles so definitely do not deposit there. I read somewhere I had to do with AlertPay blocking the account when they suspected scam which pretty much did the program in. The 2nd program I would stay away from is a Group Universal. The last I heard they were still paying but I suspect they are on their way to closure/scam. Their website has been out most of the night which could be due to a DDoS attack but I am suspecting that they won't be online much longer. We shall see.

And of course, as I mentioned earlier in this post, do not deposit into StaunchFinances. After issuing a glowing financial report by e-mail a few days ago, they went by way of the usual HYIP scam 2 days after that e-mail was sent. I'm still pretty surprised that it even happened as the administrator there really had me fooled. Usually, I can suspect when most of the programs are ready to scam but that one did not have any of the telltale signs and it really caught me off guard. I hope that none of you lost any money in that program but I most likely there are some of you. I hope you guys get lucky and get refunds or that the losses were not too much.

I will be back again later this evening to check in. I hope today's post wasn't too long and that it helps some of the new people form a better plan of action to help maximize their profits. For those of you who haven't already, please make a plan of action to follow for due diligence when considering the HYIP programs. You'll find it will help you when you are trying to pick that next winning investment. I hope to see you all again later and thanks for reading.


Jeff

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