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What I Do Not Like About Ego Pay


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#1 Colaro

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Posted 13 April 2014 - 11:48 AM

Hello everyone,

What I do not like about EGO Pay? Sounds serious title, but actually I simply do not understand why people still use EGO Pay for small transactions. Seems like there is need to repeat this topic millions of times to teach people how to earn more with HYIPs.



There is just one thing what I do not like about EGO Pay. When I see those $0.10, $0.25 or similar referral commissions from EGO Pay payments I already know that people who made those investments most likely will loose the money, if not with scam from side of program then with EGO Pay transactions fees what will just kill the profit. Same as Solid Trust Pay also EGO Pay is disadvantageous for HYIP investors and gives advantage just to the owners of those payment processors to earn more, but for us especially small investors EGO Pay is just the way how to loose the money.

Why loosing money?
Because fees are paid by you! When you receive payment via EGO Pay then from you are charged ridiculous fees - $0.25 + 2%, so if minimal transaction is $1 then you actually receive just $0.73. The problem is that EGO Pay charge fees from you, not from the HYIP admin.

I will give you one simple real-life example with program FinMutual. For example you want to invest $100 with EGO Pay in them. Program is paying 1.8% daily, so it is $1.80 every business day and if you withdraw daily (read about withdrawing daily) you actually receive $1.51 after fees, so $1.51 x 160 = $241.60. In the end if your investment period will get back $241.60, but in case if you invested with Perfect Money your amount of money would be $288.00. You may say that $46.40 difference is not that big, but I will say - it is almost half of your principle, why do you trow away free money what you would be able to collect freely if you invest for example with Perfect Money.


Of course everyone must understand that using such method for fee's is beneficial for the owners of the payment processors. We must understand that small investors are the majority of investors and from them these payment processors gets the biggest profit. Is this good for the people who use these payment processors for investing? Of course not! I'm not suggesting that you should dump EGO Pay, but I just see no point why you should use this payment processor when you make small payments. Just don't do it!


It is crazy, I have posted similar topics before here and here, but still every day I receive at least few referral commissions what comes from small EGO Pay investments. So, I just want to encourage you to stop using EGO Pay for small investments because you clearly can make more money when you invest with Perfect Money. Next time before placing small investment be sure that you place it with correct and advantageous payment processor, but the best way how to calculate exactly how much you will earn is if you will use this HYIP calculator (see it here).

 David

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#2 yallit

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Posted 19 April 2014 - 10:22 PM

And this is why I switched to PM. But in the event that I had to use EgoPay or STP, I make sure that when I request for a withdrawal, the amount should at least be $10 to save some fees. Also I don't use EgoPay or STP with plain HYIPs. I only use them for PTA or Hybrid programs.

 

I see a lot of members that actually do the same exact thing that was described on the article (ie; withdraw $1-3 using STP/Egopay). Some of them are even seasoned players and I'm baffled as to why they do that. I would understand though the reasoning for those who have blogs or known followers. They sacrifice the fees just to prove that they're getting paid from a certain program. That way, their regular followers will be enticed to join them giving them ref commissions in return.



#3 Colaro

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Posted 20 April 2014 - 04:26 PM

This article can look obvious at first sight but sometimes people need that to be aware about what they are losing. I'm doing like you are doing Yallit. I use PM a lot mainly because I'm not big funds investor (even spending less per program currently because of industry situation).

 

There are many good such articles in DavidNews, that's why I wanted to share such info with the community directly uploaded into our forum. I invite you to add your comments in any articles (all articles uploaded there are kept opened) and go back later. It can be also the beginning to start a discussion.

 

Note that my goal is not to promote DavidNews but to share good info with you. If David starts to publish rubbish you can be sure I will stop those automatic feeds ! To be honest, even if I'm hyip player since 2009, I learnt a few things from his articles also some articles got me aware of some bad habits!