June 29, 2010

CashMiner Review

2010/06/29 CashMiner Review -

It has been kind of bleak lately with all the talk of trouble and closings among some of the HYI programs, so much that a lot of us have been wondering what is around the corner? I myself have been asking a lot of questions but even more so, I have been tightening up my guidelines for due diligence in regards to HYIPs. From now until situations seem to improve quite a bit, I am going to go by these tighter guidelines when I consider a new HYI program to invest in. In the next week or 2, I will be talking a little bit about some of the things I will be changing, just for the interim until things improve. Everybody needs to make these decisions themselves because they will decide what kind of risk they are willing to take them for each person it will probably be a little different. With that in mind, I wish each of you the best during these rough summer months.

There have been a couple decent looking long-term HYIPs that have recently emerged on the market in today I would like to talk about one of them named CashMiner. this program features 3 different investment plans that are all perpetual plans or continuous plans. In HYIP terms, they are usually called "no expiry"which typically means that the plan will continue to pay as long as you leave your investment in or for as long as the program lasts. And we all know that someday they will all end. Even the good ones that lasts a year or 2 have a life span. But when we come across a good program that can last that type of term, there is quite a bit of room to make some pretty nice profits before the program goes its way.

There is an early principal withdrawal feature just in case you need to get your principal back early. CashMiner does have an early withdrawal penalty but the penalty reduces the longer you are in the program. This should probably help ease anybody's mind that has a fear of joining a longer-term program, especially in this current HYIP crisis. Some will probably not like the fact that I call it that but that is what I think it is. But I also think that within time this will all be over and the HYIP industry will take a full recovery and possibly be even better because of it. I will get on with the plans and explain the early withdrawal feature later on in this post.

The first plan in CashMiner is called The Bronze Plan and pays 8% interest weekly. The minimum to join is a mere $1 and the maximum deposit in this plan is $500. With a low minimum like this to join, it should make it easy for most everybody to be able to get in. Starting with the 13th payment, you should have your original investment recouped plus a little extra and then it will be profit from there on out. At this point, you may leave and request to have your principal returned without any penalty. I would think at this time you would want to stay and make profit of course. And as I explained earlier you can stay as long as you like or until it closes. With all 3 plans, compounding is allowed so that is something that you may want to think about ahead of time because you set the percentage rate.

The next plan is called The Silver Plan and it pays 9% interest per week. The amount to join this plan rises sharply at $500 with the maximum being $5000. According to my calculations, you should be in profit after 11.11 weeks with everything after that being pure profit.

I'm betting you can guess what the next plan is called. And of course, it is The Gold Plan. It's a bit expensive to join and starts with a $5000 minimum investment and the maximum is capped at $50,000. It will definitely take a highroller to get into this plan but it pays nicely at 10% per week. Right now, it might not get many investors but after the program proves itself, you never know. With this one, you would have made your initial principal back in exactly 10 weeks so the 11th payment would be all profit.

My first look at the website was an impressive one. They have a very nice design and layout and the look is easy on the eyes. I even think the colors were well chosen as it gives the website a rich look. CashMiner is on a dedicated Stamina server and the hosting provider is DdoSWiz. There is SSL encryption throughout.

I have read on a couple forum sites and also on one blog that the website resembles one closely that ran last year and that some of them are wondering if that could possibly be the same administrator. Well, if it is maybe that wouldn't be all that bad as the program that they are referring to had ran for almost a year which really isn't all that bad when you compare it to most programs. Nobody knows for sure except the administrator I'm guessing but I wouldn't worry about that for too long because it looks like it would be a good thing if it was so.

The script is custom made and one can tell that there has been a lot of time put into this project and probably a lot of cashola as well. It looks as though if they put their own wording on there and I would say that the chances of them sticking around for a while are a lot better when the administrator has gone to these lengths with their website. I've noticed that of all the HYIP's that have had great success, most all of them had custom scripts and had good-looking, well laid out websites. So hopefully this will be a good sign.

As far as payment processors go, I was glad to see AlertPay added to the list. As everybody knows by now, they are my first pick since things have turned awry in the HYIP program industry. These are the ones listed: AlertPay, c-Gold, PerfectMoney, StrictPay, and LibertyReserve. I was quite surprised to see c-Gold listed in there and had to think about it for a minute but I do remember them. It's quite unusual to see them listed.

Instant withdrawals are done for AlertPay, LibertyReserve and PerfectMoney. For StrictPay and c-Gold the withdrawals are not instant. The minimum you can withdraw is set quite low at $1 but it said on the website that the minimum for bank wires is $500. With all of the allowed payment processors, I wouldn't think there would be too many bank wires as everyone will probably find one they like out of the 5 allowed.

If you are in need of any support or have any questions you can fill in the support form on the website or you can e-mail CashMiner directly at support@cash-miner.net. They have an address listed on the website as MMG Tower, 16th Floor, 53rd. E Street, Urbanizacion Marbella, Panamа and it lists their phone number as +5078321875.

I did not verify either of them and I'm not sure if you would find their business at that address or if it is a typical maildrop business etc. A lot of times these businesses are registering in Panama because of the lax laws there and sometimes they just use the address of their registered agent which is just another business that signs for all their legal documents and mail for a fee. I have no idea which it is but I am just stating what happens with a lot of other HYIP's.

One thing worth mentioning is that the referral commission for referring other people to the website is listed as a low 1%. Some people may not like that but it does not bother me as I think it shows that the admin is trying to stay on the frugal side of things to keep his business profitable right from the start. I did notice that he has had a lot of advertising put out there and that is a considerable expense but one that might be excused as it will probably bring a lot of new money into the program which, as we all know, extends the life of the program. I couldn't believe how many monitors that have been added. I didn't count them but there was an awful lot. Sometimes that can eat up some revenue but it can also send a lot of traffic to the site and if they are good monitors, they will keep their customers updated right as things happen, so that nobody invests in a program that is paying selectively or not paying. Let's just hope that we do not have to hear of any of those issues for a long, long time to come.

To explain the early withdrawal feature: the sooner you withdraw, the less you get back. Every week longer that you stay in the program, you're available principal gains by a certain percentage rate. I will use The Bronze Plan as an example as that is the plan I think that a larger percentage of the people will invest in. If you requested your principal back the first week you would forfeit 100% but if you waited until the 2nd week, it would be reduced by 8%, so you would forfeit 92% of your principal. Every week that you wait, it will be reduced by 8%, so the 3rd week you would get back 84% and the 4th week you would get back 76% and so forth.

Another thing I will mention, is that if you opt to use a compounding rate when you invest, it will affect the early withdrawal penalty. If the situation should arise, I would suggest contacting the administrator of CashMiner and he will explain exactly how that will affect your situation. I do think that the early withdrawal feature is nice as a lot of others do not allow this feature so it might help to ease some of your minds, if the need should arise. But as I mentioned above, if you can wait until the 13th week then there is no early withdrawal penalty and it is up to you if and when you request it to be returned.

My opinion would be that CashMiner is in it for the long haul and that we will see them in blogs, forums and monitors for a long time (in relation to HYIP's). It's one of the better programs that I have seen come along for a while now (just in my opinion) and I am wishing them much success as well as us investors who deserve it as well. The admin definitely seems motivated and these are all things to consider. For those who do not have many long-term programs in their portfolio, this might be a good one to add. I would definitely suggest that you have a good mix of HYIP's so that you are evenly diverse. That includes short to middle to long term programs and try to have a good mix of each.

A while ago, a guy e-mailed me and suggested that he was well diversified because he had 90% in short-term and 10% and long-term. I explained to him that if the bottom of the market fell out in the short-term programs and he lost the majority of his investments there, then he would only have around 10% or a little more love to his total investments. He understood then and wrote to me later to let me know that he reallocated his investments and said that he had never done better in HYIP's. It's definitely a fine line and I will be discussing it quite a bit in the coming month so you may not want to miss these posts. If you want to make sure that you don't mess them, go over to the right sidebar and fill in your first name and e-mail address. After you do that, it will send my posts to you via your e-mail and you will be sure not to miss them. That way, if you are busy that day you do not have to go to my website to check if there is a post yet. Your e-mail will let you know and then you can visit if you want.

I would suggest that you have fun when doing this and treated as if it was a game or as if you are gambling at your favorite casino. Just remember not to spend more than you can afford to lose. That way it always stays fun and then you can use the money forextras and for splurges. Thanks for reading everybody and have a good one!

Jeff