Beware! ProfitBuzz has stopped paying! Do not invest there!

Hi everyone! Hope you all had a nice weekend and looking forward to the new business week. There’s no doubt that there’s been a slight upturn in industry activity since the LR closure. Sorry to keep dropping it into every single post by the way, but the fact remains that it’s still casting a very long shadow over the industry. That’s why it’s particularly pleasing then to see the first “post LR” programs starting to emerge, and following the first one joining my monitor which was reviewed last night this evening I want to look at another brand new program called ProfitBuzz.

It’s so new in fact that despite accepting some members yesterday, today is the first official day in business (they work on business days only, you see) for the program. It’s positions itself as a type of advertising program, the type of which we’ve seen several of in the recent past. There’s no actual surfing involved, it’s just that in exchange for investing the members are also given the opportunity to advertise their own websites on ProfitBuzz. If this interests you then keep in mind that it will be to an almost entirely HYIP related audience, so make sure that’s your target. You don’t necessarily have to have a website by the way as I’m sure a ref link to some other programs you are in would be fine. Or then again if you’re not bothered about it then fine, you don’t really have to advertise anything if you don’e want to and it has no affect on the interest rates anyway.

Starting then with the investment plans, there’s really only one of them though there are variations based on how much you’re willing to spend. Like most online HYIPs ProfitBuzz will offer the bigger investors a more generous rate of interest, but the first thing you will need to know about joining is that due to the script, joining the program is more like buying shares. You can join ProfitBuzz for a $5 minimum which is the price of one individual share. So all larger deposits must be made in blocks of $5 each time, ie you can only join with $5, $10, $15, $20, and so on like that up to a maximum of $25,000. The numbers are a bit misleading however as ProfitBuzz have a fairly unusual system of withdrawals and re-deposits in place which I will explain in a moment after I tell you the basics.

The plan runs for 24 business days (one day short of five weeks), during which ProfitBuzz will pay a daily interest rate based on your deposit. This will be made on business days only, Monday to Friday. The first option and the only one of any real interest to the majority of readers I’m sure, The Starter Plan, will pay 6% per business days on deposits from $5 up to $500 (or from one to a thousand shares). ProfitBuzz are counting your initial deposit so will NOT be returning it in a separate payment on expiry. So by the time of your final payment you should have 144% back on your investment, which is your own money plus 44% net profit.

That’s really how things continue, except with bigger payments to bigger gamblers. Those spending from $505 in ProfitBuzz up to a maximum level of $5,000 are being offered 6.5% per business day for the same 24 business day term. Payment add up to 156% by expiry, and as that again includes your own money then it’s a 56% net profit for yourself.

For anyone spending above that up to ProfitBuzz‘s $25,000 maximum the daily rate goes to 7% per day for 24 business days. With your principal included this adds up to 168% by the end of the term, and including your own money means a 68% net profit for the member.

It’s not all that clear-cut however as like I said ProfitBuzz have a somewhat unorthodox way of going about it. They have what they call a 15% repurchase policy, which I suppose is probably best described as a form of compulsory compounding. When you go to make a withdrawal, and it doesn’t matter how much, ProfitBuzz will hold back on 15% of it and put it back in a re-purchase account. So for example if you go to withdraw $1, they only give you $0.85 and put the remaining $0.15 in the re-purchase account. Once this re-purchase account eventually reaches $5 which is the price of one individual share, then you can use it to buy an extra share. In fact that’s all you can do with it because you will not be allowed to withdraw it directly.

So if you like the plans and think you might like to try it out for yourself, then the list of payment options include all the big players left in the HYIP industry. You can use any of SolidTrustPay, EgoPay, or PerfectMoney to join the program. Payouts to members are processed manually by the admin and so require investors to log in to their private ProfitBuzz account area in order to make a request. The admin promises fast payouts, and according the the program’s own FAQ all transactions should be completed from within 2 to 24 hours, though do remember that’s on business days only. There’s nothing to stop you asking for it on the weekend of course, just don’t expect to see it before ProfitBuzz return to work on Monday.

Moving on to the design, security, and website safety features of ProfitBuzz, unfortunately SSL encryption has not been enabled. You may have noticed that I mentioned this briefly in the introduction of ProfitBuzz first published on MNO last night. At the time I dismissed it as not being that important due to the fact that the program was, at that time, still in pre-launch mode. But now that it’s officially fully up and running it’s something the admin should really be looking into. Other than that I can tell you that ProfitBuzz is running off a script under license from Xsharepro and is hosted on a dedicated server by Koddos. If you have any further questions for the admin or any account related issues then there’s fair enough selection of ways to get in touch. Directly through the ProfitBuzz website itself you can fill out the online customer support form and submit it. Also for anyone with Skype on their computers an account has been listed for Live Chat support which the admin promises to be online 24 hours per day, seven days per week. Given that today is the first official day of business for them I haven’t actually been able to verify if this will be true or not yet.

As a business concept of course this is no more a sustainable model than any other online HYIP. Allowing members to advertise this or that while paying them does no more to generate profits for ProfitBuzz than anyone looking at those ads. To me it’s going to be much more interesting as a monitor to see their progress in an industry finally free of the domination of LibertyReserve anyway than to listen to stories from admins about how they generate income. Well, we all know how they generate it for themselves, they just don’t do it for the rest of you. So as with all other programs old and new alike, set yourself a sensible spending limit when joining that you can comfortably afford to lose, and if joining ProfitBuzz at al then try to keep them as a smaller part of a wider more diverse portfolio.

DAILY NEWS FROM THE INDUSTRY

SILVEROZ – LIQPAY ADDED

The admin of SilverOz started replacing LibertyReserve with other payment processors as promised in the previous newsletters. However the first choice LiqPay is kind of questionable in my opinion. I’m not sure that there are many people using this currency in the HYIP industry, and since this currency is of Russian origin I believe it will be more widespread among Russian speaking investors who tend to experiment more with various new currencies. The admin also promised to add more payment options in the near future. As for now, SilverOz (reviewed here) is accepting PerfectMoney, SolidTrustPay, EgoPay, and LiqPay starting with a $10 minimum which can be deposited into the only 2% for 150 calendar days plan with the original principal back on expiry. All withdrawals are still processed instantly, and I think it’s a good sign for the future as investors are fully satisfied with the program’s performance and prompt payouts for about three weeks now. Here’s the latest message from the admin regarding the LiqPay addition:

“LiqPay adding
We added possibility to invest with the help of LiqPay EPS for your convenience. The list of payment systems our program works with will be even more increased later. The minimal deposit is $10 and the minimal amount for withdrawal is $1.
Best regards, SilverOz team”.

EMPIREFINANCEGROUP – EGOPAY ADDED

EmpireFinanceGroup (reviewed here) also made good on their promise to expand the list of accepted payment processors which was limited to PerfectMoney only after the LibertyReserve closure. As the admin also made a popular move of converting all the active deposits of members who would have lost money via LibertyReserve into PerfectMoney, the investors definitely appreciated this gesture. However it’s crucial for the program’s development to offer a proper replacement for LibertyReserve which I’m glad the EmpireFinanceGroup admin realizes. Today it was announced that EgoPay had been added as the second payment processor on EmpireFinanceGroup‘s website. Moreover if you click “Account Settings” tab in your member’s area you can see that you can add not only EgoPay, but also your SolidTrustPay account which will hopefully also be available for deposits in EmpireFinanceGroup soon. It will definitely increase the members’ activity and participation. Plans include 1.3% for 45 business days, 1.5% for 80 business days, 1.7% for 100 business days, all with principal back on expiry. I remind you that EmpireFinanceGroup is actually the oldest entry on MNO monitor – the program has been paying for over three years now and celebrated its third year online just a couple of days ago (it was launched on June, the 1st, 2010). Since then all the withdrawals have been processed instantly. EmpireFinanceGroup even got so far that the admin already closed the program for new deposits a number of times (just for a couple of days at a time) in order to persuade investors the business was genuine. However we should always remember that EmpireFinanceGroup is just a regular HYIP, so only invest what you can afford to lose despite the temptation to invest more due to the program’s superbly long payment record. The latest news on EgoPay’s addition is posted on the EmpireFinanceGroup website today and can also be read below:

“EgoPay was added – EmpireFinanceGroup
Dear clients.
EgoPay payment system was added for deposits and withdrawals.
EmpireFinanceGroup Support Department”.

GET PAID REPORT FOR 03/06/2013

Here is the list of the programs from my monitor that paid me for the last 24 hours:
From MNO Sticky list: -.
From MNO Premium list: NEOMutual, BriscoFund, RonWards, EmpireFinanceGroup, SilverOz, WunevAssets, ProfitBuzz (the first payment received).
From MNO Standard list: PureIncome, AustralianBusinessGroup.
From MNO Basic list: ProfitWealthClub, TheInvestmentBank, GoldAssetsFinance.

It’s great to see that many programs are actually trying to get accustomed to the new conditions in the HYIP industry instead of just closing down. I hope that this is a good sign for the future recovery and that we will also see more new quality projects coming to MNO and replacing the fast scams that were so hopeless at surviving this LR débâcle. I’ll see you on my blog soon with the latest news from the HYIPs monitored on MNO, so stay tuned for more from the reformed and rebuilt industry.