STP not friends with HYIPs anymore? I’m sure that you have noticed – less and less HYIPs are accepting Solid Trust Pay e-currency. E-currecy what was made just for HYIP is leaving HYIP industry and most likely will die naturally soon, because no one else needs it.
Without any doubts I can say that there is many cons for this e-currency, for example – easy way to “put” money in and easy way to get it “out”. Since HYIP admins can’t exchange this e-currency it is relatively safer then other payment processors and you will get paid longer time because only thing what he can do with STP is to pay this money out back to members or pay for advertisements. Also everyone talks about “get your lost funds back” feature, but actually I have no idea if it really works in real life.
To be honest I have never liked STP because of high fees. Some people will say that they are not high, but problem is that fees are paid by receiver. So, if someone will send money to you (for example HYIP admin), you will get way less. Since I’m fan of long term HYIPs and I like to withdraw every day then in end I’m getting back maybe 80% of my investment if I’m luck and program do not scam me. STP is profitable only for programs what offer “after one day” plans and if you invest big amount.
What is going on?
Lately they are saying that strict “verification” is must have for HYIP programs to work with them. If previously internet scams were able to verify accounts with fake IDs then on 16th of January they published article that for now if you are a individual you should provide:
- A valid, unaltered, government-issued photo ID.
- A recent picture of yourself showing your head and shoulders.
- A recent bill or statement matching the name and address in your profile.
While number 1 and 3 is not a big deal for regular internet scammer then second on asks for recent picture of yourself, I think it is quite a big deal. Of course most experienced admins will be able to make this as well. Main thing what I’m saying here is that for company to get verified is even more difficult and admins are just deciding not to add STP at all. Is it good or bad, I do not know, but one thing is clear, something (or someone) has changed their mind lately.
You can find more information here:
Most funny thing what you can find in STP blog is that they are writing about HYIP safety, is there any normal payment processor what would write about safety in HYIP? I do not think so, read more here:
I’m not sure, and as you expect there is no official statement from them. Most likely after closure of Liberty Reserve “government guys” just went to talk with them as well and they are just slowly quitting this shady “business” of theirs. I know that there is no any other area are where STP is been used and if they will quit HYIP then it is just self-death sentence for them.
What will happen?
For now I sill believe that STP is second biggest payment processor, but if things will continue like they are now, STP will die naturally and payment processors such as EGO Pay will take theirs place. Of course there can be some other payment systems what can take STP place like Bitcoin, but it is highly unlikely because of floating exchange rate. In real life.