If you have been following along with my Bitconnect Challenge, you know that I decided to take on this controversial platform so I can evaluate it for all my followers and make my own informed decisions on whether Bitconnect is a scam, or a new way to generate income in a closed market system. While the jury is still officially out on that subject (I am only about 100 days into my 239 day lending cycle), I had a request from a follower to check into another controversial platform called USI-Tech. USI-Tech has often been called a scam and a ponzi scheme just like Bitconnect, but the two platforms seem to differ greatly. I decided to dive head-first into USI-Tech myself to see if their platform is really worth investing or just another “scamcoin”.
USI-Tech Challenge: Day 1
The USI-Tech platform is, at it’s core, a multi-product offering. The initial product that was launched was their lifetime FOREX license which was a trading bot that took advantage of market volatility (sound familiar?). They no longer offer this software (although the folks that already have it are still being supported). It seems that USI-Tech really took off when they released their second product the BTC Package, which is where I decided to dive in!
The BTC Package
The BTC Package is the main offering from USI-Tech. The BTC Packages are basically mining contracts and the daily returns they offer are based on the returns from this mining. Each BTC Package runs about $60 USD (or about €50), but is purchased in the equivalent of Bitcoin at the current market price. Like Bitconnect the daily returns are NOT guaranteed but average around 1% a day, but here is the big difference. USI-Tech’s BTC Packages only pay out Monday through Friday. That means no weekend payouts, where Bitconnect you get paid out every day. While this is a bit of a downside, the other details of the package make up for it in my opinion. Where Bitconnect pays out in USD only, USI-Tech is paying out in BITCOIN!!!
I think this is a HUGE advantage. Bitcoin goes in the platform, Bitcoin should come out. To start out my USI-Tech Challenge I purchased 3 BTC Packages when Bitcoin was at an ATH so I feel like I got a good deal. Each BTC Package runs for only 140 days (versus Bitconnects 299 days for a $100 investment) so you are much more liquid on the USI-Tech platform. Over the lifetime of a BTC Package you will end up with an average of 140% return at the end. This means that you will get your initial investment paid back along with 40% in profits over the course of 140 days. This is NOT guaranteed. Just like Bitconnect, these are “averages”. Each BTC package includes a 3% mining fee that is included in the package price. Similar to Bitconnect, there is a “rebuy” option that allows you to automatically reinvest your profits back into more BTC Packages. Here is the “fine print” on these packages and their return direct from the USI-Tech website:
The returns are earned through Crypto Currency Mining Contracts. For each BTC package, a one-time Mining License fee of 3% is charged (included in the purchase price). With each BTC package, a return of 40% is applied over the term of 140 working days. The daily rate of return and the duration may vary depending on the achieved results. The actual return is paid out including share purchase price daily.
* 140 working days: The actual duration may vary due to the returns achieved
** Return on Capital 140%: The amount of the return on capital is an intended but not guaranteed value.
*** Daily payout: The actual percentage is variable
**** Free Tokens: You will receive one free Token per each new BTC Package purchased starting November 1, 2017. For example, if you purchase ten BTC Packages for your order you will receive ten Tokens.
Check out this recent video by one of the founders of USI-Tech visiting their mining facility. Unlike Bitconnect, we know exactly who is running the company.
What’s that you say? Free Tokens?
The Token Package
With each BTC package you purchase USI-Tech gives you one free token! This is part of USI-Tech’s newest offering; the Token Package. While you can buy these tokens now, they don’t really do anything at the moment from what I can tell. They are basically “placeholders” that you will be able to exchange for their “TechCoin” cryptocurrency that they will soon be launching.
Complete details on just how these Tokens will be converted or how the TechCoin will work are not available. I am not a fan of this fact, but I DID buy just one $100 token package to test it out for this article series. From the recent USI-Tech events in London, it seems the TechCoin will be part of their new cryptocurrency mining solution that uses some sort of closed energy system for maximum efficiency.
It has also been rumored that with the cancellation of the previous FOREX software purchase (which was around $600), USI-Tech will soon be offering a “FOREX Package” that will be similar to the BTC package and takes advantage of market volatility for returns.
MLM Aspects of USI-Tech
Like Bitconnect, the USI-Tech platform offers a referral program with up to 12 levels of commission possible. For many this is where they jump ship… For some reason people equate multi-level marketing with a ponzi scheme. While this can and HAS certainly been the case, you can do absolutely ZERO referrals and still make an average of 140% return on your investments. Signing up referrals is not a necessary part of the platform, but it will of course increase your returns over time.
There are two other aspects that I am not fond of when it comes to USI-Tech, but I can live with. The first is their website. While they just redesigned the frontend and the backend, I feel like the front facing site before you signup is VERY vague and does not talk about their product offerings at all. It is more of “hype” site and lacks any real detail on what you can purchase before signing up. Hopefully since they have just made a major transition and are trying to roll out new products this will change soon. The second issue (which I have done ZERO research to confirm) is that the owners have been part of previous schemes that have fallen apart and left a bit of a scar on their reputation. While I have not researched this in-depth for this article, it will be something I dive into later in the series.
Team Up With The ‘Stache
When it is all said and done, I feel that USI-Tech deserves a fair and honest review and that is EXACTLY what I plan on doing. If you want to join my CryptoStache team on USI-Tech you can use my Secret ‘Stache link –https://cryptostache.usitech-int.com– to sign up and give it a try for yourself. With Bitcoin skyrocketing, I think now is a great time to test drive this platform that pays out in BTC! Of course, if you sign up on my team I can help you out with questions that you may have and help guide you in the right direction.
Get ready to follow along my journey as I post regular updates as to how my investment on USI-Tech is going and the research I do along the way. The ‘Stache is on the case!
‘Stache That Crypto Friends!