Before you invest, or rather risk your money in unknown and unproven HYIP sites, online and offline, it is always good to do some background research to avoid being scammed. On that note, we appreciate all our readers who reached out to us seeking our opinion on HourPaid.com, which most of them found suspicious. We decided to do an entire article on that and let the world know instead of giving feedback to only a select people. As usual, our contacts remain open in case of any questions and/or suggestions.
What is HourPaid?
Hourpaid.com is a cryptocurrency selling and investment website that promises hourly returns on investment. For that reason, investments, and returns, are short term in nature – lasting for only 72 hours.
Due to the huge returns promised and the overall business model, the site can be defined as a HYIP. Notably, there is a huge number of HYIP sites in the cryptocurrency industry and most of them are scams. Which is the reason why we approached this review with a critical eye.
Now, according to their site, HourPaid was founded in early 2017 as a “finance company,” whatever that means. The company is located in the UK and claims to have an excess of 121k users, 118k of whom are active users. Unsurprisingly, there is no data to prove whether this is true or just some marketing ploy.
The site claims to have paid out more than $14 million to their investors in the short time the site has been in existence. Now this is big money – the amount to propel a site to global prominence and even make headlines on top business newspapers. And that is just investor payments, we presume the site’s owners took an even bigger amount.
Hourpaid.com accepts a number of currencies, both crypto and regular. Investors can deposit through Bank Wire or Advcash or in form of cryptocurrency such as Bitcoin and Litecoin.
Returns on Investments
How much you stand to earn from the site depends on the investment plan you choose. Basically, there are three plans on offer. The first one requires an investment of only $5 or more with a ROI rate of 0.9-1% every hour for 120 hours. The second plan is available for $300 upwards and has an ROI of 3-4% per hour for 72 hours. The last plan requires an investment of $1,000 and above with an ROI of 15-20% per hour for 24 hours.
The returns on this site are quite good and it is understandable that a number of people have, or will get attracted to the site on this account alone. However, the question is, are the returns sustainable? Is the site a worthy investment?
To help us answer that, we will analyze the site using a number of questions from our very own scam testing criteria.
Does the site promise moderate or high returns?
We found that Hourpaid.com promises huge returns, a typical feature of a HYIP. By high returns, we mean more than 20% annually. As you would know, not even government bonds, which are regarded extra safe, can give such high returns.
How exactly does the site generate money?
According to the About Us page, Hourpaid.com is involved in the investment of cryptocurrency in various markets, under the guidance of expert investors, to generate revenue. Incidentally, the said markets remain unnamed probably because they are nonexistent or illegal.
How much do we know about the owners of the site?
To be honest, we know next to nothing about the people behind Hourpaid.com. The About Us page, which is supposed to expound on that, is too general and shallow and only gives information on what the site does and registration process. We can’t tell who the owner(s) is, which country they come from and their motivation for opening the site. But, we are supposed to trust them with our money. Okay.
Does the site have a registered address?
Yes, the site has a physical address provided on the Contact Us section. Their offices can be found at 17–21 Wenlock Road, London, United Kingdom, N1 7S. A registered address may be an indicator of a legal business but we can’t be too sure in this case since we have not visited the offices to see what goes on there.
How old is the site?
As at the time of writing this, Hourpaid.com has been in existence for about 4 months as you can also confirm from the site itself.
Generally, we prefer investing in sites which have been online for at least 6 months as the average life cycle of a scam site is 4 to 6 months. Thus, any site that survives is most likely legit. In this case, Hourpaid.com is still unproven.
Given how new this site is and how little information exists about it makes its Alexa’s global rank surprising. Currently, it’s 166,801, and it gets much of its traffic from India, Russia, South Korea, Iran and Bangladesh.
What kind of sites link to this website?
We tried searching for Hourpaid.com and most of the sites linking to the website are corny niche sites which contain no substance and are only used by their owners for AdSense profits. Most, if not all the reviews we found for this site had referral links which means we can’t really believe them.
We didn’t find any legit or credible site (except Reddit, whichever category it falls in) linking to Hourpaid.com. That says something about the site and you can tell what exactly that is.
HourPaid Review Conclusion
Hourpaid.com looks like a great idea on paper but we are not naive enough to believe in the practicality of their business model. The site is a fake investment scheme meant to defraud naive people of their hard earned money using sweet words. In the above sections, we have deconstructed the site and shed some light on a number of very important aspects and in doing so, managed to derive that below the bells and whistles, Hourpaid.com is no different from the cheap online scams that we all look down upon. We would therefore advise you to stay away from this site as you are not about to realize any reasonable returns in your investments.
If you have been scammed by HourPaid, please share your story with us by replying to this post below. You’re also welcome to contact us if you would like to consult with us about your bitcoin investment strategy. We may also be able to help you recover lost funds in case you have been scammed.
To join our member list and receive additional scam warnings from us directly to your inbox, please subscribe to ScamBitcoin.com!