Monday, September 25

OscarBit – Cloud Mining


Hello money maker,

Looking at the homepage feed of DavidNews.com I can say it has been a crazy week after pretty silent summer time. We already can notice that admins are back from their summer vacations and so are the investors. The last review was a short break for all cryptocurrency fans, but today we are reviewing another cryptocurrency HYIP. OscarBit joined Standard listing on DavidNews.com monitor 5 days ago. In total, it has been online for 6 days and we can assign it a blank page status like any other program, which has been a week old. Now I have reinvested into this program $200 and will keep you updated with the payment status of this program on our HYIP monitor. Keep reading to find out more about this program.

I’m positively surprised about the website right after the first load. In fact, most of the time I see HYIIP’s with either very generic or very poor design. This is something quite unusual for a HYIP and attraction to my eye as well. I mean, color scheme, graphics, logotype, and fonts – it all gives a very good first impression. However, let’s not get swayed by the visual appeal and see what it has under the hood.

OscarBit positions itself as a company, which “is engaged in the classic Bitcoin mining with using the latest ASIC hardware and trading at the worlds cryptocurrency exchanges. We don’t only mine cryptocurrency but also professionally use it on the stock exchange with the aim of increasing our profits”. In one of my previous reviews about BITTANK LTD, I did include some thought on BitCoin mining, but all you need to know about this process is that mining process gives value to the coins and miners are rewarded for doing it. In this case, OscarBit admin claims that they make money from mining.

I wonder if admin’s name is Oscar. Name OscarBit should be related to a men’s name Oscar. Moreover, the admin has also registered a UK based company named OSCARBIT LIMITED. Company registration details on Companies House register seems valid and they are matching the company details on the website. At least, we see that administrator has done a great job by placing UK company registration information on the website, same address as on the registration details and UK phone number. Seems logical for you? Well, take a quick read of my previous reviews and you will see that from time to time there are global HYIP projects with the registered company and phone numbers in different countries. So far everything looks smooth but remember that nice view doesn’t guarantee the safety of your investments.

On Twitter, we can spot a shortcut -  4 tweets with a few likes, but the overall amount of 272 followers. Facebook is not much different, but posts on the Facebook have attracted already a few comments. Reviews… Well, I’m not going to review the validity of Facebook reviews. Moreover, some of them are in Russian and I won’t be able to translate them correctly, but 20 reviews for a HYIP look like fake stats. Would you leave a review on a HYIP Facebook page, so all your friends now that you are investing in a HYIP?

You can add balance to OscarBit with BitCoin, Ethereum, Dash, LiteCoin, PerfectMoney and Payeer, but withdraw only with BitCoin. This approach looks odd to me, but most likely there is a reason behind it. I believe it’s not because the admin is BitCoin fan. Investors can withdraw profit as soon balance reaches 0.0005 BTC. I find it irrelevant to convert all amounts to USD since withdrawals are BTC only anyway. In fact, we all know that rate is not fixed and changes all the time. Unfortunately, there is a commission fee for withdrawals, which is a good thing for an admin to keep more money in the HYIP, but inconvenient for the investors.

The minimum amount of deposit is 0.003 BTC, but maximum – 100 BTC. I believe folks here shouldn’t be complaining about the too low maximum. It’s about 3,7 million, so you know… OscarBit has one plan, which has interest rate based on the amount of your deposit. There are different interest rates, but they are assigned according to the deposit. Most realistic plan with more accessible deposit minimum 0.0030 BTC and maximum 0.0999 BTC is called CLASS 1. It has 5% daily interest rate. What else do you need to know before we calculate a potential benefit from this investment plan? All investment plans have a term of 30 days and the initial deposit is included in the payments, so you will not receive it back at the end. However, it’s not always a bad thing, because it prevents users from making large withdrawals at a time. Unfortunately, the withdrawal charge of this HYIP can work the same way and motivate people to make fewer withdrawals, which basically has the same effect on the cash flow as the return of the deposit at the end of the term. Of course, my comments make sense only in case this program survives the first investment cycle, which we will see in the next 30 days.

Let’s move to the potential profit. Investment of 0.053 BTC fits the above-mentioned CLASS 1 interest rate of 5% a day, which is approx. 0.0027 BTC. What if the HYIP stops paying in the middle of the 30 days term? You always need to know break-even point, which in this case can be reached after 20 days. Moreover, if the HYIP survives the whole term, you could make 0.0265 BTC profit, which is approximate $100 on the deposit of $200. Most likely rates have already changed, but I gave this example to give you a better understanding. Of course, there are many “if’s” before making the profit.

In conclusion, I would like to point out that this HYIP can be still called a blank page, because there was not too much information out there except the visible things like I mentioned in this review – website design, social media profiles. I also checked a couple of forums and there were only random conversations about it, but without any references to other programs. Interest rate looks attractive and I would say it’s a little bit above the average, but still looks very realistic. Unfortunately, the admin has assigned withdrawal fee to keep the money in the HYIP and motivate making fewer withdrawals, which makes sense from admin’s standpoint, but is an inconvenience for the investor. There are still 24 days left to reach the end of the first investment cycle in case you were the first guys to make deposits. Anything could happen overnight. Remember, HYIP’s deserve their name and are unpredictable. Therefore, if you ever decide to make any investments, don’t invest more than you can afford to lose! In case I haven’t mentioned something that seems important to you, drop a message in the chat box.

- Project details -

DavidNews.com investment: $200

Investment plans: 5% up to 10% daily for 30 calendar days, initial deposit included in the payments. Profit accruals in real time.

Payment processors: Perfect Money, Bitcoin, Payeer, AdvCash, Litecoin

Investments starting from: 0.003 BTC

Cash-out: Instant

Technical status: SECURE

  • SSL: COMODO RSA Extended Validation;
  • Hosting: Ovh Sas  hosting;
  • DDoS protection: Ovh Sas;
  • Script: Custom Script;

Support: Contact form, e-mail

Affiliate reward: 7-3%

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