Signing Up With USI Tech & How It Is Different Than Bitconnect

EDIT 1/15/18: USI-Tech is no longer operating in the US and many people have lost their money. This was in fact a scam and now it is folding up from what I can tell. I was not able to withdraw.

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 it or just another "scamcoin". EDIT: USI-Tech has changed the way US customers can get involved with the platform! Please keep this in mind.

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 payment 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. 

FOREX Package

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 packages. Signing up referrals is not a necessary part of the platform, but it will of course increase your returns over time. 



Other Considerations

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. Get ready to follow along my journey as I post regular updates as to how my packages on USI-Tech is going and the research I do along the way. The 'Stache is on the case!

'Stache That Crypto Friends!

 

Shea Newkirk

The ‘Stache
Howdy! My name is Shea Newkirk and I have been a Bitcoin supporter since 2014. I am immersing myself in the cryptocurrency world and I decided to jot down my story as things unfold. I am a designer, coder, musician, gamer, father, blogger, entrepreneur & more. Learn from my mistakes and rejoice in my triumphs because the ‘Stache is set to disrupt the crypto world!

Comments

  1. Avatar
    1. The 'Stache Post
      Author
      The 'Stache

      It may very well be a ponzi scam. I am investigating for myself and I don’t advocate anyone to join if they are not interested or are just starting out. I just try to provide an unbiased inside look into the platform for my readers. If I was shilling it left and right like many people do then perhaps you could say I’ve “got no credibility” but that is not my intent here.

  2. Avatar
    1. The 'Stache Post
      Author
  3. Avatar
    Fred

    Funny how this is pretending to be an objective test but you post the link to your very own down-channel connection. Conflicted much?

    1. The 'Stache Post
      Author
      The 'Stache

      It is not “pretending” to be objective, it is. There is no hype in the article. I don’t talk about how “amazing” the platform is or how it is clearly a “scam”. I just lay out exactly how it works (good and bad) and that is it. Yes at the very end of the article I mention that you can sign up using my code if you want. How does that make anything here not objective? So secretly I tell you all the flaws and strengths of the platform in some plan to convince you to sign up? If my goal was to simply promote USI so I can get referrals I certainly would not be doing it this way.

  4. Avatar
    Don

    I just got dropped from trading in USI TECH .IT seems all of USAand CANADA just got cancelled. My question what is the best platform to trade bitcoin on ? IM in TEXAS

    1. The 'Stache Post
      Author
  5. Avatar
    Orlando Camacho

    Hello,
    Have you been able or do you know of any other companies such as USI Tech where you can make a 1% a day on your investment? Thank you

    1. The 'Stache Post
      Author
  6. Avatar
    Ian

    I like your website ‘Stache, and I agree this is one of the more impartial reviews. Personally, I’m getting paid every day from USI Tech because the USD and the American SEC rulings are irrelevant to me, but those regulatory rulings are why Americans can’t join, it’s not because USI Tech don’t want you. I hope you can withdraw the amount of BTC invested. You can still buy Bitcoin.

    It should be mentioned that the USI Tech daily payout is falling as you can see if you average the daily payout from month to month, but the end result is the same 40% profit on Bitcoin which – when converted back into my GBP – currently averages over 1000% ROI. Long-term, it looks like it will take longer to reach that 40% ROI. Early packages took around 140 days to complete, it’s now 157 days.

    The less said about Bitconnect the better, but their affiliate’s cognitive dissonance blinded to them to the reality of what Bitconnect was. I just hope those that fell for it don’t fall for DavorCoin now, I think some already are.

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