{"id":16678,"date":"2020-09-07T07:45:51","date_gmt":"2020-09-07T13:45:51","guid":{"rendered":"http:\/\/money-news-online.com\/blog\/?p=16678"},"modified":"2021-04-09T20:48:30","modified_gmt":"2021-04-10T02:48:30","slug":"07-09-2020-globalcryptox-review-and-daily-news-from-the-hyip-industry","status":"publish","type":"post","link":"https:\/\/money-news-online.com\/blog\/2020\/09\/07\/07-09-2020-globalcryptox-review-and-daily-news-from-the-hyip-industry\/","title":{"rendered":"07\/09\/2020. GlobalCryptox Review and Daily News from the HYIP Industry"},"content":{"rendered":"

Beware! GlobalCryptox has stopped paying! Do not invest there!<\/strong><\/p>\n

Hello all, I hope the first weekend of the autumn was a good one for you and your all looking forward to the new business week! There\u2019s a few news stories to catch up on since my last post which I\u2019ll be getting to in the second half of today\u2019s update, after I take a closer look at a new program called GlobalCryptox<\/a> which was introduced last week. You may be wondering why I was waiting so long between the initial addition of GlobalCryptox<\/a> to the MNO monitor<\/a>, introducing it to readers on my blog, and getting around to today\u2019s eventual review. Well, it\u2019s quite simple really. As most regular readers will know I don\u2019t review listed programs on my blog until I can 100% personally confirm a definite Paying status on the monitor<\/a>. In the case of GlobalCryptox<\/a>, when first added to my monitor they only made one payment per week, hence the delay in publishing this more detailed examination of it. Not to worry, better be safe that sorry as they say, at least now I can tell you for a fact this is a paying program so I hope you agree and appreciate that it was worth the wait. Following this they later moved to daily payments as I shall explain. Let\u2019s get started then with some of the finer points about GlobalCryptox<\/a> and see if you think you have room for it in your own portfolios.<\/p>\n

To begin with, and before we delve too deeply into the inner workings of GlobalCryptox<\/a>, there\u2019s a couple of points you need to consider before going any further. The main thing is that this is a program initially developed with the long view very much at the forefront of the admin\u2019s mind. It\u2019s not going to be an overnight success, and even when HYIP industry activity expands as I suspect it will throughout the coming autumn months and into 2021 GlobalCryptox<\/a> will remain very much a slow burner. In fact I wouldn\u2019t be surprised if the admin\u2019s immediate aim was just to get investors familiar with the program\u2019s name and accustomed to seeing it listed as a paying program for so long, week after week after week, that it could even be after Christmas and the next New Year holiday before we see any real mainstream popularity. The reason for that is as I shall explain a much lower than average interest rate coupled with a much longer than average investment term without the inclusion of an early withdrawal clause and the implementation of high withdrawal fees.<\/p>\n

Don\u2019t get me wrong here, that\u2019s by no means a criticism of GlobalCryptox<\/a>, in fact I know a lot of longer term industry observers are more sympathetic towards plans that offer something that\u2019s more likely to be genuinely achievable and sustainable over time rather than impossible \u201cget rich quick<\/em>\u201d scams that are impossible to maintain. The problem is however that programs like GlobalCryptox<\/a> aren\u2019t necessarily what a lot of investors are going to be looking for immediately after coming out of such a sustained period of low growth and low activity in the industry. It may well be something that gets shifted onto investors \u201cmaybe list<\/em>\u201d while they look at more urgent matters first and then come back once the name is more established on monitors and forums, and I think that’s pretty much exactly what happened with the recent changeover from long to medium term plans.<\/p>\n

There are three investment plans available in GlobalCryptox<\/a>, just one that\u2019s affordable to the average investor and two more aimed at higher spending players. Although the initial cost of joining is a bit more than the industry average at $50, don\u2019t be too alarmed as the admin sweetens the deal and offsets that amount with quite a generous bonus. It doesn\u2019t make it any easier to come up with the first fifty dollars of course, but if you can afford it there are benefits. Unfortunately a lot of these benefits are going to be largely non-existent for most investors given that they plus a good chunk of your profits are going to be eaten up by exorbitantly high withdrawal fees.<\/p>\n

I\u2019ll go into that in a bit more detail in a moment, first I think it\u2019s more important to sketch out the basic concept behind the investment plan itself. So as I just said GlobalCryptox<\/a> require a minimum investment of $50 to join. Technically that\u2019s not exactly true, they only work with cryptocurrencies though you will be asked to give a dollar amount when investing. This is then converted into the cryptocurrency you are using to join. Likewise when you are getting paid, the withdrawal is calculated at 3% per day<\/strong> of your original dollar amount, but converted into your chosen cryptocurrency when actually being paid. Once you have joined, the investment term for the first plan runs for 40 calendar days<\/strong>. By the end of the term that accumulates to 120% in total<\/strong>, and with GlobalCryptox<\/a> including your principal with the payments that means your own money back plus 20% net profit<\/strong>. This applies to all deposits to a $499 maximum.<\/p>\n

Just to give a simple monetary example of how that might work out for you in fiscal terms then, let’s suppose you join GlobalCryptox<\/a> with a $100 deposit. Over the course of the next 40 calendar days they should pay you back $3 per day until you have a grand total of $120 back in your chosen cryptocurrency wallet. With your original hundred already included that’s your own money back plus $20 for yourself as a reward. You should reach the break-even point, that is to say re-coup your original investment therefore making it impossible to lose money, 34 days into the 40 day term.<\/p>\n

The other two plans offer exactly the same return, i.e. 120% in total or 20% net profit. The difference is that on one hand they are more expensive to join, but GlobalCryptox<\/a> reward you taking the risk by slashing the time it takes to break even and complete the term. So for an investment between a $500 minimum up to $4,999 you get a higher daily interest rate of 4%<\/strong> for a reduced investment term of 30 calendar days<\/strong>. It still comes to 120%<\/strong> like I said, but now only takes 25 payments to break-even and start earning a passive profit.<\/p>\n

Likewise with the third GlobalCryptox<\/a> plan intended for the very biggest investors prepared to risk from $5,000 up to a $50,000 maximum. For this, if you can afford it, you should expect GlobalCryptox<\/a> to offer you 5%<\/strong> interest per day for 24 calendar days<\/strong>. This ultimately leads to the same percentage return of 120%<\/strong>, principal included, as the previous two plans albeit with the appearance of a reduced risk as you break-even after 20 payments in this case.<\/p>\n

At this point it gets tricky, first of all because GlobalCryptox<\/a> charge what in my opinion is an extortionate fixed withdrawal fee of 0.0004 BTC<\/strong> (around $15 at the current exchange rate), regardless of what you are owed. Fair enough, one could make the point that this can be absorbed by making less frequent payment requests. But my argument here would be in that case what was the point in joining a daily paying HYIP in the first place if you’re only going to lose money by actually trying to get paid on a daily basis which was the very reason you joined at all? Be sure to keep this at the forefront of your mind when considering whether or not GlobalCryptox<\/a> is a suitable investment for you or not.<\/p>\n

The next question you might have is how to make an investment. The thing about the GlobalCryptox<\/a> website is that while it\u2019s easy enough to navigate once you get used to it, it\u2019s worded in an unnecessarily complicated manner to make it a bit confusing for first time users or some non native English speakers. So once you have signed up and created an account, from inside your members area look for the Finance<\/em> tab across the top of the page. Click on that to be redirected to the investment page where you will see a button marked \u201cInvest Now<\/em>\u201d. After that you simply fill in the form on the box that pops up to proceed.<\/p>\n

The next part is perhaps the most critical aspect of GlobalCryptox<\/a> so if you only take one thing from this review I urge you to take this \u2013 how to get paid. I must admit I myself had to ask the admin for instructions on this is it isn\u2019t particularly well explained, so I hope he will address this on the GlobalCryptox<\/a> website before long. Meanwhile if you are joining the program please pay very close attention to this, and maybe bookmark it so you can refer back to it later.<\/p>\n

The first thing you do is again click the Finance tab in your members account area, then at the bottom of the page click \u201cView week table<\/em>\u201d which is highlighted. This will open a pop-up window giving you your payment schedule and the amount you are owed, i.e. how much you can withdraw and on when you can request it over the remaining term. Future payments are all listed as \u201cPending<\/em>\u201d, with the status changed to \u201cCompleted<\/em>\u201d once your account has been credited with your weekly earnings. It\u2019s not really essential to keep too close an eye on this however, GlobalCryptox<\/a> will send you an automatic e-mail reminding you that your interest payment has been made and you are now invited to withdraw when ever you are ready.<\/p>\n

So, now that you know the correct amount to request and when to request it, back in your members account area under the Wallets tab click the button marked \u201cBTC-USD Conversion<\/em>\u201d on the left. That\u2019s because while your earnings are calculated in dollars and will always be stable, you actually receive it in cryptocurrency form at whatever the current exchange rate happens to be. Enter the amount you are owed, this will tell you what to expect in BTC, and click the \u201cConvert Now<\/em>\u201d button. Now click the \u201cWallets<\/em>\u201d tab at the top of the page where you will now see your dollars turned back into BitCoin at the exchange rate of the day. Click the \u201cWithdraw<\/em>\u201d button next to your chosen wallet which will then open a new pop-up window. You then select your wallet and enter the amount you wish to withdraw.<\/p>\n

So what about this incentive bonus I mentioned to encourage more investors to sign up? Personally I would have thought it more cost effective to simply reduce the minimum cost of joining, $50 being a bit steep for many people in difficult times these days, but then again if the admin is only looking for slower more manageable growth for the time being then this way might also have its benefits. The idea here is that if you join GlobalCryptox<\/a> and make an active deposit, the admin will supplement your investment from his own pocket to the tune of $25. You don\u2019t get to withdraw this $25 at any point remember, it just gets added to your principal and you get to claim the extra interest on it. As an investment strategy this is far more beneficial to the smaller investor with a $50 deposit as opposed to the guy with lets say $1,000. 3% on $75 per day makes a bigger difference to the small investor than it does to the bigger one with $1,025 if you know what I mean. That\u2019s not the only way to make a little extra cash to supplement your income from GlobalCryptox<\/a>. You can also get yet another $25 bonus if you follow GlobalCryptox<\/a> on their main social networks, in this case Facebook, Twitter and Telegram. But again, for the most part this is just theoretical as with the high withdrawal fees anything you earn on this just goes up in smoke anyway and back into the pockets of everyone else handling your money before it ever gets to you.<\/p>\n

If all that makes sense then the next thing we should discuss are your payment options. The HYIP industry has a growing history of programs eschewing the older style dollar based payment handlers in favor of direct cryptocurrencies. In this case you can use BitCoin, LiteCoin, Ethereum, Ripple, Tether, BitcoinCash and a couple of other less popular options. Withdrawal requests must be submitted manually by the members, with the GlobalCryptox<\/a> admin saying everything should be processed within an eight hour maximum waiting time.<\/p>\n

The other aspect of GlobalCryptox<\/a> where you can potentially win (or lose) money is how they prefer to identify themselves as a business, i.e. as a cryptocurrency trading platform where members can join in as opposed to just a regular HYIP. You have two options here known as Spot which you can trade instantly and Derivatives where you will need to transfer your funds to a separate Derivatives account. For instance, if you wish to trade 1 BTC with 150x leverage you will only need to have 0.01 BTC to start with. So if you\u2019re into cryptocurrency trading you can check the Trade tab in your account. Don\u2019t worry if it doesn\u2019t make a lot of sense right now or seems complicated, the GlobalCryptox<\/a> admin told me he expects to have an educational video on the subject online soon, and when that happens I\u2019ll report it here on MNO plus embed it on the MNO monitor<\/a> for the convenience of readers.<\/p>\n

Moving on to some of the more technical details of the GlobalCryptox<\/a> website such as design and security, looks to be well put together and a very professional job has been done on it. GlobalCryptox<\/a> is powered off a custom-made script designed to meet the program\u2019s own unique needs. Navigation of the site however isn\u2019t always immediately obvious and could be explained better, so I suggest you again pay closer attention to the instructions outlined above for deposits and withdrawals. Hosting is on a dedicated server provided by CloudFlare with both protection from DDoS attacks and an SSL security certificate for safer browsing and more secure transactions.<\/p>\n

If you have any further need to get in contact with the admin of GlobalCryptox<\/a> or any further questions or account related issues that need to be dealt with, then there are a couple of ways you can go about it. However as the FAQ section covers a lot of what you need to know you should definitely start with that. If that doesn\u2019t work then next up is the ticketing where you just fill in your details on the customer support form on the website\u2019s support page and submit it online, or else just write to the admin directly at the e-mail address listed alongside the form. Fans of social media will be able to connect with GlobalCryptox<\/a> via their social media platforms which include Telegram where you can also avail of Live Chat if an operator is available, as well as Twitter and Facebook. Plus there\u2019s a postal address to go with the program\u2019s registration in Estonia, a country well known for taking a leading role in tech and IT based company start-ups (albeit most likely a serviced \u201cvirtual\u201d workspace and not where anyone connected with GlobalCryptox<\/a> is physically located). There\u2019s a phone number to go with that so you might have more success there if you wish to speak with someone on a more personal one-to-one basis.<\/p>\n

Overall it\u2019s quite an original and well planned operation, and at first glance everything at this early stage would indicate a good long run for them but I think could be greatly enhanced by the removal of withdrawal fees. Sustainable plans that can be carefully managed plus the timing of the launch as summer gives way to autumn will help their chances, so as long as the marketing and organization of the project are handled well (which remains to be seen) it might be around for a while.<\/p>\n

Just keep in mind that GlobalCryptox<\/a> is still very much a HYIP. Granted it might be a little bit more financially sustainable than an average HYIP, but nevertheless a HYIP. That means all the usual rules still apply at all times here. If you join then be sensible with your spending limits, and be realistic with what you expect to earn. Don\u2019t spend money that might leave you in trouble were you to lose it, or money you might need to get back in an unforeseen emergency. And of course try to keep GlobalCryptox<\/a> as a smaller part of a wider more diverse portfolio.<\/p>\n

Just before we move on to the news section I want to finish up with GlobalCryptox<\/a>, at least for today anyway, by asking what readers think of it. You can weigh up the pros and cons of joining, and decide whether it\u2019s a risk you think worth taking. I hope then that you won\u2019t mind answering the following opinion poll question, which is as always 100% anonymous and only takes a second to complete. Thanks to everyone who votes, as it will make interesting reading maybe not today but several weeks from now when we look back on GlobalCryptox<\/a> and see how it has developed by then:<\/p>\n

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Will you make an active deposit in GlobalCryptox<\/a>?<\/strong><\/p>