18/04/2010. Rags2Richness Review and Other News

BEWARE! THIS PROGRAM HAS STOPPED PAYING! PLEASE DO NOT INVEST!

Hi guys! After publishing this afternoons interview things have been a bit quiet on the news front. Typical for a Sunday I suppose, though I will get to what updates I have in just a moment. First however I’d like to take a look at one of the most recent medium term HYIPs added to my monitoring list. It’s called Rags2Richness and it’s been online for about the last ten days or so.

Of course, you should know that a big deal is being made in some quarters about the fact that this Rags2Richness is actually a re-launch of a program that ran a number of years ago. However it’s my own opinion that this information is of no value whatsoever and if you were a member back then how you perceive this program as either a success or a failure has no bearing on it’s future performance. I believe (and correct me if I’m wrong) that the previous members were refunded on the programs closure but that also won’t affect it’s future performance. The old forum threads relating to Rags2Richness have been reopened and the discussion picks up where it left off back in 2006, perhaps to give a sense of continuity (I don’t know), but I wasn’t a member of it at that time and will only be treating them like a brand new HYIP with the potential rewards and risks that go with it.

So what of the investment plans? Well, Rags2Richness has two plans for you. One of them making daily payments (where I’ll start) and the other making weekly payments. Both have various rates of interest depending on the size of your investment. Before I go into further detail however there is one rather unusual feature to the plans. Rags2Richness runs off a Neversay script and I’m sure most of you are aware that programs using this service require you to invest in certain fixed multiples. In other words buy shares in the program at fixed prices. Say one share costs $5 then you can only spend $5, $10, $15, and so on. The difference with Rags2Richness however is that they are the only HYIP I can think of right now that will allow you to spend cents. Because the price of one share is $0.01. You still need to make a minimum spend of $1, but after that you can invest with pennies. However you need to keep that in mind when joining. Don’t invest 100 cents when you meant to invest 100 dollars. You may be disappointed with the results!

Anyway, where was I? The Daily Plan runs for 45 days. The minimum investment is just $1 and anything you spend up to $500 will get you a daily interest payment of 3.5%. That means you break even after 29 days and finish with a total profit of 157.5%. This figure does not include your principal.

If you prefer something a little bigger then a daily rate of 4% will apply to deposits ranging from $501 to $1,000. That means you break even after 25 days and finish up with 180% not counting your principal.

For bigger deposits again you will be paid 4.5% interest per day for amounts between $1,001 and $2,000 and a rate of 5% per day for all amounts above that to a maximum of $25,000.

For obvious reasons plans that offer daily payments do tend to be a bit more popular than less frequent ones. Of course they’re also less profitable so if you want to take more of a risk, and think the extra income is worth that risk, then Rags2Richness also has a weekly plan. It runs for 7 weeks and for deposits between a minimum of $1 up to a maximum of $500 you will get 27% interest per week. Compare that to 24.5% over an equivalent seven day period in the daily plan for the same amount and see if you think it’s worth it. Your choice at all times. Anyway, at that rate you break even after 4 weeks and finish with 189%, principal not included.

For the bigger spenders a deposit between $501 and $1,000 will earn you a weekly rebate of 31%. It still takes you 4 weeks to break even but the final sum adds up to 217%.

If you wish to make a bigger spend then rates of 35% per week apply to deposits from $1,001 to $2,000, and 40% per week made to all deposits above that with the maximum again being $25,000.

There’s a lot to like about Rags2Richness and one thing is the fact that the minimum investment to either plan is affordable to all online HYIP players. I mean for just one single dollar what’s the worst that can happen? As for the payment options Rags2Richness are using a fairly good spread (for a program like this anyway) with GlobalDigitalPay, LibertyReserve, PerfectMoney, and StrictPay all available. Payments are manual and need to be requested. The admin says that payouts are generally done within 24 hours but you are asked to allow anything up to 72 hours before the alarm bells go off!

Another thing to like is the security. The script is as I already mentioned licensed from Neversay and the Rags2Richness website is hosted on a dedicated server supported and protected by BlackLotus. Add the SSL encryption to that and it’s not a bad package overall. Customer support is available by submitting a ticket through the form provided or by contacting the admin directly at his e-mail address. If it’s important to you then to date he’s often visible on the popular investment forums as well.

As for any serious business or investment activities, there isn’t any. At least none provided on their website anyway so Rags2Richness is presented to you here purely as an online HYIP. Therefore it is not denied that as such it depends on members support and cash flow. The same can be said of any business but it just tends to be much more acute in the online investments industry. So I would pretty much dismiss any claims that your principal is guaranteed, unless the admin was prepared to pay yu out of his own pocket. Now that would be a rarity! Otherwise though for what it is Rags2Richness is probably worth a shot. Just don’t forget it’s only a game, and that it only costs a dollar to play. Might be fun as part of a diverse portfolio.

OTHER NEWS FOR TODAY.

There is not much to report for today, guys, but everything seems to be going on fine. So sometimes less news is better news in this Industry.

The admin of SolidTrader mentioned yesterday’s review published on MNO in his regular newsletter to the program’s members. I remind you that SolidTrader is accepting four payment processors (LibertyReserve, PerfectMoney, StrictPay and GlobalDigitalPay) and is paying instantly on five investment plans: 110% after 3 days, 140% after 8 days, 200% after 15 days, 16% for 8 days and 12% for 15 days. More can be read in my detailed review published here. The admin of SolidTrader agreed to answer some questions for an interview with MNO as well so I will be sending that tomorrow. Hopefully we will find out more about the person behind the program. And meanwhile you can read the latest newsletter from SolidTrader below:
“We like to inform all SolidTrader member that our program has been reviewed by Money-News-Online, known for its unbiased and experienced review in this industry. MNO currently also the most popular online investing blog.
We invite all members to read our program review on MNO website, you may follow below link to read the review;
http://money-news-online.com/blog/2010/04/17/17042010-solidtrader-review-and-other-news/
SolidTrader also get monitored by Money-News-Online, and within only few days our program rank has been greatly increased. You may visit MNO monitoring page through below link:
http://www.money-news-online.com/monitor/
Have a great weekend everyone.
Best regards, Graham Roberts. SolidTrader Project Manager”.

The admin of LiveProfits (interviewed here) is offering a 5% instantly withdrawable bonus for all the investors making a deposit over $50 into any of the offered plans: 105% after 7 days, 110% after 10 days, 125% after 20 days, 140% after 30 days, 160% after 40 days. James, the admin of LiveProfits issued a short update today for his investors and you can read it below:
“New Bonus of 5% for depositing more than $50. The bonus will be added directly in your Account balance an Available to withdraw.
Our Interview with Money News Online :
http://money-news-online.com/blog/2010/04/16/16042010-interview-with-the-admin-of-liveprofits/
Thanks for you. Best Regards. James, Admin”.

I have been paid from the following programs for the last 24 hours:
DollarTime (the first payments received), TrueEarn, SureBetInv, BritishFinanceGroup, Aballong, CorporateInvest, EuroNanoInvest, SolidTrader, MoneyBreeze, InvestProxy, BetExpekt, Rags2Richness, PerellaInvestment, AvaInvestment, ForexNetClub, MyGrandFunds, AlphaMoney, ArbsTeam, Oico, FinitInvest, ForexPaidMe, HighYieldClub, WestFinance, YesInvestment, GoldenInvestment, EzProfit, PrivateDiamondClub, PenninesFunds, IncoForex, RedOrchidInvest and WWFD.

That would be it for today and I hope to see you on my blog tomorrow, guys!