What is a HYIP?
A High-Yield Investment Program, known as HYIP for short, normally promises you high returns on your investment but in all honesty it’s not really an investment, it’s more gambling than investing. The minimum you normally can put in some of these platforms will start from $10 up and in return they they will lure you in with their daily returns from 1% up to silly amounts and everything will be great and you will be in the false pretences that you have made it, until a few days later you try to withdraw and you don’t get a batch number and it says pending. This is the part I insert a picture of an angry man.
Photo by Alex Iby on Unsplash
Yes like all good things, everything comes to an end and nothing could be closer to the truth especially when it comes to HYIPs because they are known to be a type of Ponzi scheme where it relies on paying old investors with the money invested by new investors.
“A Ponzi scheme is a form of fraud that lures investors and pays profits to earlier investors with funds from more recent investors. The scheme leads victims to believe that profits are coming from product sales or other means, and they remain unaware that other investors are the source of funds”
I know there are people who actually do make good money from these scams, you just need to know how to play the game, you get in early and get out quick but no one knows when it’s early, some of these platform don’t even last a few hours, so it is risky.
Who is this Jade?
Jade is your own smart cryptocurrency trading bot by Dropil which you control, Jade will trade on your own personal exchange account, you connect Jade directly to your exchange via secure API. Since your money is on your own personal exchange Dropil can’t take your money out so you are 100% in control of your own funds, unlike the HYIP platforms. The base pairs you can use are BTC, ETH and USDT which will trade with other assets. The minimum to start a bot is $50.
Jade is made friendly for the new comers but also has advance settings for those who know what they are doing. During this challenge I will be having a play with the advance settings to see if I can get the most out of Jade. If you decide to use Jade and don’t know much about bots, I suggest that you stick to the basic settings and do not click on the advance settings. Below is a video explaining the Standard Strategy of Jade.
Jade’s Standard Strategy
You can sign up for FREE to use Jade for FREE without even having to have any Drop tokens, which allows you to have one bot and you can trade up to $500 and any profits made over this amount will not be traded, you will not have access to automatically reinvest any profits made through the use of Jade at this level. If you hold Drops somewhere in the Dropil ecosystem you are granted $1,000 tradable for every $500 held in Drops. If you hold a minimum of $2,500 in Drops you will unlock a maximum of three active bots instead of one.
You can pay Monthly or Yearly for Jade Subscription click here to find out more
So I was thinking, I wonder if Jade could compete against one of these HYIPs.
HYIP lasts on average about 30 days and pays 5% a day, if you put $150 in you should get $225 by the end, that’s if the HYIP was to last that long, daily pay would be $7.50, you could make more if you get people to sign under you with a referral link but lets face it, it’s normally someone that has a following like YouTubers/Influencers that can make the most of that and this challenge is aimed at the average joe like me who doesn’t have loads of followers and are more of lone wolf.
For this challenge Jade will have 30 days to make profit or break even, I’ll be putting in $150 but unlike the HYIP Jade will be already ahead of the game because you don’t loose the $150, the money is in your own exchange so you can take it out whenever you like, not like the HYIP where you have just given the money away and you start with $0. So with all this to take into account, for Jade to hit her target of $225 she would just needs to make $75 by the end of the dead line, which means the daily target should be $2.50. I’ll have to keep an eye on Jade, the market and I might have to change the settings but what I want to do in this challenge is make some basic setting were I don’t have to keep monitoring every so often but I’ll see how it goes.
Jade Pre Settings
I’m gonna be using the advance setting for this, although I’m not a master at it and it could go all wrong, if this wasn’t a challenge I would be using basic setting but since I have a target to hit, well I guess I will have to dive into the deep end.
I will be using Binance for Jade to trade on and the base pair that I have decided to use will be BTC, at the time of writing this article $150 will give me 0.01848 BTC but this will change on the start date of the challenge which I will start on Wednesday the 15th of January 2020 at 9pm UTC.
Basic Bot setting
For starting this bot I’m gonna go with a Standard Strategy instead of the Scalping one, simple reason is I haven’t really tried the scalping strategy but that could be another challenge for another day. I’ll stick with slow mode to start with and as we progress I might change it, slow will let Jade open trades at the lowest point.
Basic Bot Setting on Jade
My Price Buffer I’ll start with 5%, this will tell Jade the percentage a pair should drop before she can open a position. I have the choice of Single or Multi which will allow the bot to trade one coin or multiple coins, I’m going for Multi because with the settings I have it will let me have upto 3 trades in one go, Multi is more aggressive where as Single mode is a slow trading style and requires patience. We don’t have time for patience with this challenge lol.
As for the Long/Short option well at this moment in time you can only select Long, I’m just gonna have to wait for the Short option to come out on the next Jade update.
Now we are getting into the more complex part of the bot settings. I’m keeping the target profit low at 0.5%, this should be achievable and if I can get a few small profit trades a day it will all add up, I’ve set the Trailing Stop to 0% since my target profit is low, don’t want it to hit 0.5% and end up with less, if I had a target profit of 3% then yeah I might put a 0.2% trailing stop. Maximum Positions is set to 3 as I mention before.
Advanced Settings on Jade
Min. 24h Exchange Volume in default settings is set to 500 BTC so I’ve lowered that to 250 BTC gives Jade a bit more pairs to trade with but still for me it’s in a safe volume to trade.
BTC market on Binance
This is a screen shot of the BTC market on Binance that I have taken on the day of writing this. The far right shows you the 24h Volume so anything above 250 BTC Jade will trade, you need to keep an eye on this as this does change all the time and sometimes you may get a low volume coin crossing the 250 volume, not saying this is a bad thing but if there is a coin you particularly don’t like make sure to blacklist it. With the Min. Price ( Base Currency) I’ve left it 0, might change that as we go along during the challenge.
Custom Pair Options
This is a great feature on Jade if you know what coins are performing bad or you don’t like a certain coin you can just black list them but you can also make a whitelist which means you can choose which coins you just want Jade to trade with, I’ve left this section blank for now, I will have to see what the market is like on the day if I choose to blacklist or whitelist a coin.
Custom Pair Options on Jade
Last but not least my Safety Nets. Default settings for Stop Loss is set at 25%, yeah I changed that to 100%, Yes there is positives and negatives to this which means Jade will not sell if it hits lower than a certain percentage, it means I don’t loose anything but the negative is I could be holding bags for a very long time, but remember I can always override Jade and make her sell.
Safety Nets on Jade
The rest, I have left on default setting as I believe they are just fine. Brief overview of what these options do, Max. Average Down Order is when the trade drops in profit by the percent outlined in the Average Down Threshold option and Jade purchases more to bring the average entry price down. Average Down Threshold is the percent gap between placing average down orders. Average Down Multiplier will adjust the size of your average down orders relative to your original order size.
You can find out more about the advance Jade settings here.
Brief Conclusion/Recap Of Challenge
Wish me luck lol, in all fairness this is just a bit of fun and will be interesting to see what happens, Jade is a great product by Dropil and works well, the only problem Jade will have is my human error input so I’ll have to be alert to beat the HYIP.
Like I said the start date for this will be Wednesday the 15th of January 2020 at 9pm UTC and the target is to have in total $225 by Friday the 7th of February 2020 at 9pm UTC to win the challenge. I’ll be tweeting daily results on Jade and how she is doing, at the end of the challenge I will probably do a final conclusion.
If you wish to join Dropil click here, it’s free to make an account and you will find loads of other great apps that Dropil do.
If you want to use my referral link to join you can but I don’t mind if you do or don’t, just you joining Dropil would be good enough for me but if you want to use it just click here, if you use my Dropil ref link and you decide to use their Dex service you and Me will receive $5 in Drops once you have complete your first Dex cycle, if you want to know more about Dex click here, you will also get 10% off all premium services for life, which is good but remember you can still use Jade for free and other services to make your crypto.
You can follow me on Twitter for all the updates on the challenge and much more
This article should not be taken as financial advice and should be seen as my experience/challenge with Jade. You are responsible for your own actions and should seek advice from a professional when it comes to investing.