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$BHP $FCX & $RIO &VALE- Miners heading for new highs & a TOP-SECRET PLAY!

$BHP $FCX & $RIO &VALE- Miners heading for new highs & a TOP-SECRET PLAY!
The past 5 trading days have shown strong reversal patterns for these three miners and although, less pronounced - $VALE.
$BHP, $RIO &$VALE - #2, #3 & #5 miners in the world respectively.

#2 BHP Group Ltd. (BHP)

  • Revenue (TTM): $42.9 billion
  • Net Income (TTM): $8.0 billion
  • Market Cap: $137.2 billion
  • 1-Year Trailing Total Return: 9.9%
  • Exchange: New York Stock Exchange
BHP is an Australia-based international resources company. It explores and mines minerals, including coal, iron ore, gold, titanium, ferroalloys, nickel, and copper properties. It also offers petroleum exploration, production, and refining services. The company serves customers worldwide.
https://preview.redd.it/v43u814qkdg61.jpg?width=1170&format=pjpg&auto=webp&s=f0fde0484907cf816ce1f5489dea0e40b0f86832

https://preview.redd.it/yfbb6i2vwdg61.jpg?width=1170&format=pjpg&auto=webp&s=652a0d1c8a8f2efa9366cb5d5e79a4bd779cd4c6

#3 Rio Tinto PLC (RIO)

  • Revenue (TTM): $41.8 billion
  • Net Income (TTM): $7.2 billion
  • Market Cap: $79.8 billion
  • 1-Year Trailing Total Return: 21.0%
  • Exchange: New York Stock Exchange
https://preview.redd.it/7gygeosskdg61.jpg?width=1170&format=pjpg&auto=webp&s=5dbbecdd8ba4f2d8392c8337b5c52a4760bf990b

#5 Vale SA (VALE)

  • Revenue (TTM): $34.7 billion
  • Net Income (TTM): $1.3 billion
  • Market Cap: $59.9 billion
  • 1-Year Trailing Total Return: -3.7%
  • Exchange: New York Stock Exchange

https://preview.redd.it/avmhkuuwkdg61.jpg?width=1170&format=pjpg&auto=webp&s=e5f590de8987b9c5dff61f7d3dd1904605d52cfd
I know what you are thinking - "this must be part of the steel play you've been talking about non-stop since December. . .blah, blah, blah. . .yeah, we know. . .don't need anymore CB from you."
That's Confirmation Bias for the newbies.
I know, if you are here you know about steel and why I like $MT - hey, it was up today - I think we see more price run due to $MT being able to unload $CLF shares - which I also think is bullish for $CLF and yes, I'm buying more $CLF on the dip tomorrow.
It was a brilliant move, in my opinion, by our boy, LG @ $CLF.
He clears the deck before the earnings call and this is seen as a bullish move to pay off 9.875% high interest notes with a share offering of 60 million, 40 million of which is being sold by $MT.
20 million shares by $CLF.
I'll have more coming on these two, but I like the move for both.
So, back to the miners - $BHP, $FCX, $RIO & $VALE.
I do like the iron ore play on steel and believe we will see elevated prices considerably above historic norms for the remainder of 2021.
However, what I like more than iron ore are the metals that are going into smartphones, computers, and batteries for EV's and infrastructure.
So, we have:
$BHP - https://www.bhp.com/our-businesses/
$FCX - https://fcx.com/
$RIO - https://www.riotinto.com/products
$VALE - http://www.vale.com/EN/business/mining/Pages/default.aspx
The increased demand of:
NICKEL - been on a tear since March lows https://www.investing.com/commodities/nickel-historical-data - the price is more tied to stainless steel, but Battery Plays are driving speculation.
COPPER - The price of copper is believed to provide a reliable measure of economic health, as changes to copper prices can suggest global growth or an upcoming recession. With high volatility and strong liquidity, copper is attractive to traders. Copper spot price is affected by extraction and transportation costs, as well as supply and demand.

https://preview.redd.it/q7im2jyesdg61.png?width=2004&format=png&auto=webp&s=647e1ce78cdef7e774eb8b6161ee18c019d2c994
ZINC - sharp recovery since March lows, following all other metals - https://uszinc.com/services/lme-pricing/
ALUMINUM - recovery following other metals to new highs:

https://preview.redd.it/4t5icp7atdg61.png?width=1222&format=png&auto=webp&s=483d5c88a01399ea47ad28278d0a9f27f2bdbe5e
BTW, I'm bullish AF on $AA, but that too is a DD for another day.
Now the Confirmation Bias:

COPPER

https://www.mining.com/copper-price-lifted-by-us-stimulus-china-inventory-squeeze/
Copper prices rose on Monday as optimism around a US stimulus raised hopes of higher demand for metals and a recovery in the world’s biggest economy.
The copper price rose as much as 1.3% to $3.6745 ($8,100 a tonne) on the Comex market on Monday, with March delivery contracts back within shouting distance of multi-year highs hit early in January.
The metal has rallied nearly 90% since the depth of the pandemic in March.

Thinning inventories

The rise in copper prices is underpinned by thinning inventories that pointed to higher demand for the industrial metal.
“Inventories are still quite low on exchanges. That gives good indication that manufacturing demand for copper is present and that its not just a speculative story,” Nitesh Shah, an analyst at investment manager WisdomTree, told Reuters.
In China, the world’s top consumer, copper inventories normally accumulate in the run up to the Lunar New Year as businesses close for the week-long festivities.
But this year, Chinese inventories have dropped to near decade lows on robust demand from factories, which are maintaining high operating rates due to shortened shutdown periods and tighter travel restrictions for workers.
Meanwhile, effects of the coronavirus pandemic on copper supply continues to be felt. In what was supposed to be a year of supply growth, global mined output during the first 10 months of 2020 were 0.5% lower compared to 2019 levels, according to the International Copper Study Group (ICSG).
In Peru, the world’s second-biggest producer, copper output plunged 12.5% to 2.15 million tonnes in 2020, the country’s Energy and Mines Ministry said on Monday.

Copper miners gain

Despite copper prices hitting a slump in the second half of January, the world’s top copper producers have continued to rally this year after spectacular gains in 2020.
Shares of BHP, the largest publicly traded copper company, are up 6% year-to-date.
Copper, like most commodities, has been a cyclical investment whose demand ebbs and flows with economic cycles. Traditionally, roughly half of all copper demand has come from new building construction and infrastructure, China has been the single biggest market by far. With many global economies in or entering recovery phases, cyclical demand is on the upswing.
Green initiatives around the world offer a secular tailwind as well. The European Green Deal, President Joe Biden’s ambitious climate plan, and China’s target of carbon neutral by 2060 all point to increasing incremental demand for copper.
Although mining stocks have in many cases quadrupled since their March 2020 lows, many names are still trading below their previous highs, and at a time when fundamentals are improving.
Take Freeport-McMoRan, $FCX, a Phoenix-based company whose business is roughly 70% copper, 20% gold, and 10% other. The stock plummeted to $7 a share during the selloff last spring and has since recovered to a recent $30. But it is still about half what it was at previous highs of around $60 in early 2008 and 2011.
The big news on copper yesterday was regarding $RIO and the Mongolian situation.
Feb 8 (Reuters) - Mongolia's government is seeking to cancel a deal with miner Rio Tinto to expand the OyuTolgoi copper mine in the Gobi Desert and replace it with a new agreement, the Financial Times reported.
https://www.miningweekly.com/article/mongolia-seeks-more-tax-revenue-from-rio-copper-mine-expansion--source-2021-02-09/rep_id:3650
Many thought this was potentially bad news for $RIO, but it appears it's about working out a little more tax dollars for the government and a deal will be struck.
The underground expansion will push annual production to nearly 500,000 tonnes per year, making it among the world’s biggest copper mines

Global copper demand

As mentioned above, it’s not likely that copper demand will slow down in 2021.
In the US, new home and home renovation demand spiked since the pandemic started, along with electronics demand. Analysts at CitiBank expect the copper market to shift into a deficit in the second half of the year with a minor surplus overall for 2021, Reuters reported. They also forecast deficits in 2022 and 2023.
The US Census Bureau and the US Department of Housing and Urban Development reported building permits in December increased by 4.5% compared to November and 17.3% above the December 2019 rate. Privately owned housing continued to increase in December, rising by 5.8% from the previous month and by 5.2% compared to December 2019. The uptrend started in September 2020.
China will continue to play an important role in the copper market. The country accounts for about half of global primary consumption, which is then used to manufacture export goods.
According to the aforementioned Reuters report, appliances output also increased in China. Similarly, China’s refrigerators exports went up by 45% in December 2020 compared to December 2019. During the same period, exports of microwave ovens rose by 35%.

Indonesian copper smelter

Indonesian politician Luhut Pandjaitan, said Freeport-McMoRan, $FCX and Tsingshan Holding Group reached a $2.8 billion deal to build a copper smelter in Indonesia’s Weda Bay. The smelter would process copper concentrate from the Grasberg mine. Luhut did not report a timeline, per the report.
“The smelter will produce copper pipes and wires of which output can be worth $10 billion or more,” the minister reportedly told IDX Channel. The smelter will aim to produce copper products to be used in lithium battery components. Indonesia is working to build an electric vehicle supply chain, as it is also a major nickel producer.

ALUMINUM

https://www.thomasnet.com/insights/aluminum-can-sourcing-sees-unprecedented-surge-amid-white-claw-truly-hard-seltzer-craze/
https://www.bloomberg.com/news/articles/2021-01-19/aluminum-buyers-forced-to-pay-up-after-underestimating-recovery - more profits coming.
All told, the outlook for aluminum in 2021 looks better than it did even three months ago. Fourth quarter prices rose about 9% yoy and 12% qoq to $1,914/t, the best prices since the fourth quarter of 2018. What's more, with the global economy recovering, management is calling for roughly 7% demand growth in '21, ahead of supply growth, and a more balance market for the year.
With that, I think there's a good chance for aluminum prices to average out over $2,100/t in 2021 - the best price on an annual basis since 2011 (though just barely above 2008). As always, a great deal rides on China - Chinese producers have a history of being less than responsible when it comes to supply, but Chinese demand is looking more robust and the government has been increasingly stringent with less efficient, more polluting smelters, so the volume risk here may not be as troubling as before.
Then the big news many in the US had been waiting for and potentially an insight to what Biden will do about Section 232 Steel Tariffs;
https://agmetalminer.com/2021/02/08/aluminum-mmi-us-reinstates-tariff-on-aluminum-imported-from-uae/

High aluminum scrap demand

A Midwest-based trader told Construction & Demolition Recycling that demand for aluminum scrap remains high at secondary smelters that supply the automotive industry in the U.S.
Chad Kripke, an executive vice president of Kripke Enterprise, a nonferrous scrap brokerage firm, confirmed that many sellers are relying on the spot market rather than signing contracts for 2021. This signals that it is a seller’s market.
This market environment is due to the reduced flows of scrap, which has caused spreads to tighten. As a result, secondary producers are opting to purchase scrap at what they might view as high prices rather than risking a lack of material.
The Application of the World Aluminum Alloy Sheet Market 2021-2027 as follows:
Building and construction Automobiles and transport Aerospace and defence Industrial and general engineering
This screams recovery play and Infrastructure spending.

NICKEL & ZINC

You really can't mention one without the other, especially when it comes to batteries:
Nickel-zinc (NiZn) chemistries are the primary competitors displacing lead-acid in the marketplace. Both promise smaller footprints and longer operational life than lead-acid batteries. While the tradeoffs of lithium-ion batteries are more well known, given their wide use in other energy storage applications, NiZn technology has specific advantages in terms of reliability, safety, and sustainability over both lead-acid and lithium-ion solutions.
It is abundantly clear that the future of high energy batteries will converge on layered oxides increasingly rich in nickel. ... Early lithium-ion batteries comprised a cathode of lithium cobalt oxide [LiCoO2] and an anode of graphitic carbon. Cobalt can be replaced by other metals such as manganese, nickel, and aluminum.

https://preview.redd.it/5vs07d488eg61.png?width=1214&format=png&auto=webp&s=3e7482bf908e4c8c665cb815fdc257f77c6390b1
With the rising demand for EVs, the need to secure critical nickel supplies is becoming ever more pressing for battery producers and automakers alike.
Fitch currently forecasts global EV sales to rise by 41.9% to reach over 4.3mn units in 2021 with sales expected to breach the 14mn mark by 2030. This accelerated pace of EV sales growth will place strong upward pressure on the price of raw materials used in batteries and will force battery producers to develop more affordable batteries, Fitch asserts, which more often than not means higher nickel content and lower cobalt content.
And the 500 Pound Gorilla - $TSLA
https://www.mining.com/tesla-investment-to-position-indonesia-as-ev-battery-production-hub-report/
BTW, do you know who the largest nickel miner in Indonesia is?
$VALE
http://www.vale.com/indonesia/EN/investors/indonesia-investors/company/at-glance/Pages/default.aspx
$VALE + $TSLA = $VALE's moon rocket. . .
As I have said from my first postings in this series on steel, scrap, ore - these metals I have just listed will be the complimentary plays becoming the body of 2021, with steel remaining the backbone.
Some extra knowledge on the most expensive metals as of today and a good stock to capture the increased costs and demand:

Rhodium

Relatively unknown to the layperson, rhodium is quietly one of the hottest trades right now, after a price surge of more than 30% this year. Rhodium previously peaked – and quickly crashed – in 2008 at more than $10,000 per troy ounce (ozt), but the metal is now trading above that 2008 high on the back of a swell in demand from the automotive industry.
Rhodium is used in catalytic converters, a part of vehicle exhaust systems that reduce toxic gas emissions and pollutants. According to S&P Global Platts, almost 80% of demand for rhodium and palladium comes from the global automotive industry. Fortunately for South Africa at least, around 80% of all rhodium is mined within its borders.
Part of the reason for the metal’s price leap is its rarity. Annual rhodium production sits at around 30 tonnes – to place that in context, gold miners annually dig up between 2,500 and 3,000 tonnes of the precious metal. Rhodium also benefitted from the Volkswagen emissions scandal, or Dieselgate, the 2015 emissions scandal that rocked the automotive industry. With major economies including China and India tightening emissions rules, platinum group metals (PGM) miners are anticipating good times ahead for rhodium.

Palladium

Rhodium’s little brother palladium also did well out of the Dieselgate scandal. After sales of diesel vehicles slumped and petrol alternatives came back into fashion, platinum – used primarily in catalytic converters for diesel vehicles – took a tumble, while petrol-friendly palladium rose.
Palladium is the most expensive of the four major precious metals – gold, silver and platinum being the others. It is rarer than platinum, and is used in larger quantities for catalytic converters. In the near-term, the demand for metals used in catalytic converters is expected to be steady, buoyed by growing automotive sales in Asia. However, the increased uptake of battery-electric vehicles – which do not use catalytic converters – could see palladium demand take a hit.

Platinum

The namesake of the platinum-group metals is also the worst-performing on the market, having taken a huge hit from the Volkswagen emissions scandal. Platinum’s primary use has been in catalytic converters for diesel vehicles – 45% of the platinum sold in 2014 went to the automotive industry. As consumers and manufacturers moved away from diesel in the wake of Dieselgate, platinum lost out to palladium, which performs better in petrol vehicles.
Platinum traditionally traded at a higher price than gold and combined with platinum’s rarity compared with gold, “platinum” as an adjective has come to be associated with a higher level of prestige than gold. Despite platinum’s troubles and gold now trading above it, that reputation has stayed.
Platinum deposits are largely concentrated in South Africa, with the country supplying around three-quarters of the world’s demand. Anglo American Platinum, Impala Platinum and Lonmin make up the top global platinum producers.
Which brings me to Sibayne Stillwater - $SBSW, which has also shown a strong reversal over the same time as these other stocks shared above:

https://preview.redd.it/qo083s8ofgg61.png?width=1170&format=png&auto=webp&s=3c54b8a6a79bb8d85fd72eadf13cf2735bf3a8b3
https://www.sibanyestillwater.com/about-us/
Sibanye-Stillwater is a leading international precious metals mining company, with a diverse portfolio of platinum group metal (PGM) operations in the United States and Southern Africa, gold operations and projects in South Africa, and copper, gold and PGM exploration properties in North and South America.
It is the world’s largest primary producer of platinum and rhodium, the second largest primary producer of palladium and a top tier gold producer, ranking third globally, on a gold-equivalent basis, as well as a significant producer of other PGMs and associated minerals such as chrome. SBSW is also the globally leading recycler and processor of spent PGM catalytic converter materials.
https://www.kitco.com/news/2021-02-05/Sibanye-Stillwater-earnings-surge-on-higher-metal-prices-and-solid-performance.html
Sibanye-Stillwater said despite COVID-19 disruptions, its expected earnings increase was underpinned by a solid operational performance, higher metals prices and a weaker rand.
"The production contribution from the Marikana operations for the full 12-month period, following the acquisition of Lonmin in June 2019 and the realisation of significantly higher than forecast synergies, along with a notable return to profitability from the SA gold operations, following the strike in H1 2019, were the main drivers of this operational performance," the company said.
The Minerals Council South Africa recently estimated the country's production was down 10-12% in 2020 due to the pandemic and logistical shortcomings but mining GDP was only down 4% thanks to the rise in commodity prices.
Everything I have laid out on previous DD's regarding steel and metals are all based on recovery demand, global infrastructure investment which will ultimately cost $$$. This money is going to be printed by the US treasury, which will further weaken the $USD and this weakening in the value of the dollar will increase the value of commodities proportionally.

https://preview.redd.it/6jhk8gigjgg61.png?width=1948&format=png&auto=webp&s=4a1084854d8a719bf0f1a70c3f798720f4e3ad9e
Expect the value of the DXY to touch 52 week lows of $89.21 and most likely set lower lows as TRILLIONS more are printed and put into the economy.
https://www.cnbc.com/2021/01/14/powell-sees-no-interest-rate-hikes-on-the-horizon-as-long-as-inflation-stays-low.html
The Fed currently is keeping its benchmark short-term borrowing rate anchored near zero and is buying $120 billion in bonds. At its December meeting, it said those measures would stay in place until substantial progress is made towards the Fed’s inflation and employment goals.
That means the central bank will be more inclined to allow inflation to run higher than the standard 2% target before hiking interest rates.
I believe we will see inflation continue to run on commodities.
https://www.cnbc.com/2021/01/12/feds-esther-george-cautions-that-inflation-could-rise-faster-than-expected.html
Inflation could rise faster than “some might expect” as the economy recovers from the pandemic, Kansas City Fed President Esther George said.
Lastly, oil.
I have said steel will follow oil and usually it is 6 weeks behind moves in oil prices.
https://preview.redd.it/szjhhl88ngg61.png?width=1592&format=png&auto=webp&s=e79b4671a1d719202d6d98a0fdd1e192f93c24e0
After a rocky 12 months, oil prices — which got crushed when Covid-19 slashed demand for energy around the world — are roaring back.
What's happening: Brent crude futures, the global benchmark, have breached $60 per barrel, their highest level since January 2020.The immediate catalyst appeared to be weekend remarks from President Joe Biden that the United States will not lift sanctions on Iran to get the country back to the negotiating table. But oil prices have been on the upswing for months thanks to optimism that coronavirus vaccines will unleash demand while producers avoid flooding the market with supply.
The bonus with $BHP is you get oil and steel in one play.
Again, I am a value investor and I like to find value where others shy away from and commodities are the red-headed step child that I believe will shine in 2021 for all the reasons I have laid out here and in previous DD's.
I am not your personal financial advisor and do your own research.
Good luck!
-Vito
submitted by vitocorlene to Vitards [link] [comments]

FAQ Megathread - Compilation of all possible questions you may have about NEXO

Table of contents:

General Information about Nexo

What is Nexo?

Nexo delivers the The World’s First Instant Crypto-backed Loans, thus resolving a crucial inefficiency for the crypto world. Up to this very moment, no alternatives existed for digital asset owners to enjoy their crypto wealth except selling them. The innovative model of Nexo brings to the crypto community the best of both worlds - retaining 100% ownership of their digital assets while having immediate access to cash.

What are Instant Crypto-backed Loans?

The Instant Crypto-backed Loans are an automatic, flexible and cost-efficient way of obtaining liquidity that is secured by the value of the client’s digital assets. The whole process is completed in just a few simple clicks. No hidden fees, no capital gains taxes, no credit checks. Transparency is guaranteed through the use of blockchain technology, smart contracts and algorithmic processes executed by the Nexo Oracle.

Notes for US (United States) Customers

How can I buy NEXO?

Currently, until the Exchange comes out, you will have to use a third-party platform to purchase NEXO. You can use the following:

How is Nexo connected to Credissimo?

Nexo is powered by Credissimo, a leading FinTech Group serving millions of people across Europe for over 10 years. Credissimo has always operated under the highest regulatory requirements and strictest supervision by multiple European Banking and Financial Services Regulators. Now the same Team and its Board of Advisors, empowered by the ever-growing community of Nexo supporters and the enormous demand for the Instant Crypto-backed Loans, are unlocking the value of the digital assets in a rapidly expanding token economy that will alter the very fabric of a $5 trillion dollar market.

Who are the Nexo Founders?

Nexo was founded by the Credissimo team who have been in business for over 10+ years and awarded as one of the top 100 Financial Tech companies in Europe.

What happens when NEXO doesn't have enough cash to loan out?

They can't loan out without raising money, of course. So either they have to loan themselves with better terms, raise money through other means, or steadily process the loans facing a supply drought and customer loss. I could imagine that it would be technically legal for a certain % of the collateral to be sold, just like banks are not required to keep 100% of their customers cash in liquid form, but I have quite frankly no clue how this applies to nexo and crypto assets.

What happens to the deposited BTC/ETH if NEXO fails? Who holds the private keys to them coins?

Since nexo is properly registered in the EU, and given the EU's tendency to protect customers rather than company's, Id honestly assume we would have a novelty court case over this issue, with the expected result that the collateral has to be given back out, if it is still available. But as it often happens in crypto, if the coins are sold illegally its hard to reverse that kind of damage, and its even more tough to access them if they were sent to another wallet. I do not really think that there is a reasonable possibility of this happening without nexo deliberately destroying their business/turning criminal, because of the nature of this business and the contracts, and I would assume that not turning criminal is a much, much more profitable strategy in the long run, because nexo is well positioned to assume dominance in this market for what we know so far.

What happens if people fail to pay back the money, but at the same time the deposited BTC/ETH loose value and are not able to cover the loan amount any more? (With people then realising their collateral is valued at less then the money they have to pay back, thus being incentivised towards defaulting rather than paying back to get their crypto.)

If the collateral does not cover the loan due to falling prices, the loan agreement as far as I know will be automatically terminated, with the collateral held in the nexo account. The customer must either default through the prices not covering the loan amount, or with failure of payback itself, its not really possible that both the customer fails to pay back the money AND the collateral declines in value below the worth of the loan unless the market crashes so spectacularly that the collateral cannot be automatically sold. However the outcome is technically the same, nexo itself does not lose money if the client defaults (unless prices crash faster than nexo is able to sell, or the volume is gone, et cetera., which I think at this point is relatively unreasonable to assume.), and I think the "take a loan -> buy more crypto -> take more loans" scenario is incredibly unreasonable given that you can easily margin-trade with much higher leverage and less trouble than what nexo could loan out to you, so I dont assume loans are being taken for actual crypto investments, I rather think people believe in the collateral assuming value and see it as a locked up investment with extra short term utility

How is NEXO profitable?

Lending is the most profitable crypto market segment. Businesses are now parking their idle cash with crypto lenders. This trickle will soon become a flood. Nexo is arguably the most profitable lender. NEXO made ~$20 mill profit last year, paying a $6mill dividend.

Is Nexo trustworthy?

Considering that the founders of Nexo are some of the same people behind Credissimo an established successful award winning FinTech Group founded in 2007 which is still around gives gives me reassurance that my coins are somewhat safe. At the end of the day we're all taking a risk here. I'd be very surprised if Nexo just runs off with all our money in the process tainting all the work they've put in from Credissimo to here. It is poor that they haven't done much to reassure us that our crypto/money is as secure as they say but they have a track record that seems to speak for itself. Not many other defi platforms can do the same and we are seeing that almost every second day with the hacks occurring in the ecosystem.
There are actual people behind this thing that we can hold accountable. People who have Forbes articles written about them. People who have been on the news. I'm not saying it's still not possible for a security breach but again their track record seems to speak for itself.

What happens to my assets if NEXO goes under?

In the unlikely event that Nexo goes under, yes, your money is gone. There is no insurance in the world that covers something like that I'm afraid. It's the same for Cel, CDC, or any wallet provider.. remember, not your keys not your crypto. There is always a risk.

How can NEXO afford such high interest rates?

Simple, they borrow your money for ~8% and they lend it out for ~11.9% (no loyalty, this used to be 24.9% but I guess they changed it because it made them look like loan-sharks).
The concept behind Nexo is to make Crypto as liquid as possible for clients. Instead of selling crypto you can temporarily supplement it for a small loan.
Their average loan is well above the 5.9% minimum and more people are using the service to borrow rather than lend.
They are profitable, but don't expect the stablecoin interest to remain at 8%-12% long term, it's to attract new customers! Just like Crypto.com did.
One thing to note, the business model is SOLID, but only in a stable or bullish market. If for some reason Crypto market tanks, then it'll be an issue.

What happens if the market crashes?

The Loan-to-Value (i.e. ~50% for BTC and ETH) is dynamically determined by the Nexo Oracle algorithms, depending on the current and historical volatility and market liquidity of the asset. If the assets decrease significantly in value and you do not contribute additional assets to your Nexo Wallet after receiving a warning from the Nexo Oracle, Nexo may initiate small liquidations to cover any insufficiency.

Buybacks

Nexo announced a Buyback, has it been done, how can I track it?

The buyback has started, it seems like they are doing the buyback bit by bit instead of the full amount all at once. They purchase these tokens from the open market, where there is liquidity (Huobi for instance). You can check how many tokens have been bought back so far here: https://etherscan.io/address/0x1C433CBF4777e1f0dCe0374d79aaa8ecDC76B497#tokentxns

License and Regulations

Is NEXO compliant with the SEC?

Yes: https://www.sec.gov/Archives/edgadata/1732097/000173209718000004/xslFormDX01/primary_doc.xml

Could SEC investigate NEXO the same way they did with Ripple (XRP)?

Nexo is registered and compliant with the SEC when they did their ICO (Initial Coin Offering), there is nothing to worry about.

What is NEXO's insurance?

Nexo use BitGo (https://www.bitgo.com/) as their cold storage provider. This includes a $100m policy that covers third-party hacks, theft, loss of keys, etc.
The safety of clients funds is the main priority for Nexo. Cold storage Wallets are provided by BitGo, the leader in digital asset financial services. BitGo Custody carries $100,000,000.00 in insurance protections through a syndicate of underwriters through the Lloyd's, the world’s specialist insurance and reinsurance market. And this premium service comes in at no additional cost (details can be found here and here).
The $100 million policy covers digital assets where the private keys are held 100% by BitGo in the event of:
  • Third-party hacks, copying, or theft of private keys
  • Insider theft or dishonest acts by BitGo employees or executives
  • Loss of keys
Nexo has chosen BitGo as its custodian because BitGo provides 100% cold storage technology in bank-grade Class III vaults and the BitGo platform is SOC 2 Type 2 certified. Advanced authentication mechanisms are employed to ensure the authenticity of data, and assets are distributed geographically and organisationally.
It is the account holders’ responsibility to safeguard their accounts by means including but not limited to using a strong password, enabling two-factor authentication and controlling all login credentials to Nexo. Clients remain owners of the crypto assets placed into Nexo accounts.

Why is their insurance only for $100m if they have $4B+ in assets under management (AUM)?

They don't keep the all of their assets in the one wallet.
Their custodian, BitGo, keeps funds in many smaller wallets - the likelihood of all those wallets being hacked at the same time is something approaching zero.

Is there details on Nexo's bank license?

Not yet, Nexo is not a bank yet, but it's possibly coming soon, as they just switched banks to IBS Lithuania UAB. (Not announced but since Lithuania gave Revolut a bank license it's very possible!)

What does an ISO/IEC 27001 certificate mean?

Nexo’s information security management system (ISMS) has been successfully audited by CISQ, a member of IQNet and the world’s largest provider of management system certification, and by RINA, who have decades of experience in certifications, ensuing in an ISO/IEC 27001 compliance certificate. This guarantees that Nexo's security infrastructure is of the highest standard and carries minimal risk to clients and investors thanks to rigorous security policies, impeccable risk assessment, data protection, and state-of-the-art cybersecurity.
Nexo’s ISO/IEC 27001 certificate was issued to it's Estonian entity, the subject of this certification is Nexo’s information security management system, rather than a specific registered entity. As such, it is irrelevant which Nexo entity the certificate was granted to.
Please also note that information provided on www.nexo.io is valid for all Nexo services and operations, as the aggregate of companies within the Nexo group. These include entities registered across the globe, all of which are fully compliant with local regulations.

Licenses and links

License: https://www.nmlsconsumeraccess.org/EntityDetails.aspx/COMPANY/1898755
License: https://mtr.mkm.ee/juriidiline_isik/236278/valjavoteEdit?tulemus=Tegevusluba
SEC: https://www.sec.gov/Archives/edgadata/1732097/000173209718000004/xslFormDX01/primary_doc.xml
Estonia's Business Register: https://www.teatmik.ee/en/personlegal/14520507-Nexo-Services-O%C3%9C
Estonia Approval (Allows operations to all non-estonians): https://www.fi.ee/sites/default/files/2019-03/20190304%20Hoiatusteade%20Nexo.pdf

Interest / Earning with your Crypto assets

I transferred my assets yesterday and have not gotten any interest yet???

You get your first interest payout the day AFTER you deposit. This is normal, to avoid people cheating the system.

I am not getting my 10% interest!

It may not be clearly explained within the app, but in order to get the full potential for rates, you need to max your loyalty level as well as get paid in Nexo. Depending on how much NEXO is part of your portfolio, your loyalty level changes, so to achieve Platinum, you must have at least 10% of your crypto portolfio in NEXO. The bonuses for each level are as follows:
  • Base = 5%* on Crypto, 8% on Fiat/Stablecoins
  • Silver (1-5%) = 5.25% on Crypto, 8.25% on Fiat/Stablecoins
  • Gold (5-10%) = 5.5% on Crypto, 9% on Fiat/Stablecoins
  • Platinum (>10%) = 6% on Crypto, 10% on Fiat/Stablecoins
Crypto = BTC, Etherium, etc.
Stablecoins = USDC, Tether, etc. Fiat = Euro, GBP.
They get converted to their equivalent stable coin after depositing!
All % are PER YEAR NOT DAILY OR MONTHLY.
Remember, you get paid extra if you decide to receive interest in NEXO and not in-kind (same asset, so BTC to BTC for instance). This bonus is not available for US customers.

Example of interest earned:

Assuming you have 1 BTC in your Savings Wallet on NEXO, you would accumulate 5% per year if you do not hold any Nexo as well. 6% if you hold 10% worth of a BTC as Nexo in your account.
And additionally 2% more if you choose to receive the interest in Nexo and not BTC, so then it would be 7 or 8%, but this is not available for US customers.

I am not getting my 7% every day?!!!

Just like pretty much everything in this world, interest is shown PER YEAR. This means, you get 7% per year, not per day. ANY company, regardless if it's crypto or not, that tells you you can even make 1% back per day, is a ponzi / scam (unsustainable business).

How do I calculate what I should get % per day?

Simplified, and not 100% accurate, but very close, you should take the spot price of the asset at the moment of daily payout, multiply it by your loyalty / bonus level, and divide it by 365.
A more advanced, accurate calculation would be as follows (thanks to masashi_t):
Example: BTC interest is 6% in-kind and 8% in NEXO.
If you choose to earn in-kind, take into account of compounding interest, it would give you [(1+0.06)1/365-1]*100 = 0.0159% per day, or 6% APY
If you want to earn in NEXO instead, you will get (0.08/365)*100 = 0.022% per day, or 8% APR.
BTC and NEXO are both appreciating assets, you are free to pick which one you think will give you a better return in the future.

Small note regarding compounding interest:

The daily interest rate you receive for the like-kind reward already takes into account the fact it compounds to end with the stated annual interest rate. The interest rate you see for like-kind reward only is achieved if you keep it for 365 days. If you keep it for a lesser time, you actually get a lower interest rate.
I am not sure why this isn't mentioned in the app, as far as I know.

I am not getting back interest on my NEXO assets?

You do not get interest on NEXO token assets you hold in NEXO. Instead, you get dividends. Nexo give out 30% of their profits back to their customers that hold nexo tokens. Read this article for more information.

Do my assets on Nexo get locked-up / stake period?

NO! Unlike, CDC Crypto.com, you do not need to lock in your assets with Nexo, you can withdraw them at any time.

Do I get interest on my collateral?

Any assets in your Credit wallet do not get any interest, so you can not borrow 0.5BTC with 1BTC as collateral and make interest on the 1BTC at the same time. The only asset that "technically" makes % while being in the Credit wallet is Nexo tokens, where you get dividends regardless of which wallet the tokens are in.

Dividend

What is a dividend?

To "reward" loyal customers who support the project and Nexo token itself, Nexo have decided to do (yearly*) dividends, this means they give 30% of the benefits (profits) the company earned since the last dividend back to the nexo holders. Based on how many tokens you have and knowing there is currently a fixed supply of 560 millions tokens you can calculate what % you should get. Furthermore, they have an extra "bonus" for those who have held onto the tokens for a long time. This bonus is small, but it helps differentiate those who are holders and those who purchase nexo tokens before a dividend to cash in. Read the question below about frequency.

How regular are dividends, when is the next one?

So far, dividends have been yearly, in August. There have been mentions from Nexo that they'd like to do it more regularly. As any business/stock that do dividends, the price of the token/stock decreases drastically after dividend payout. Do not be alarmed.

Do US customers get dividends?

Yes, but paid out in BTC. EDIT: Apparently, you can receive it in NEXO as well, but you must be an accredited investor. Read this

Do I need to verify/kyc to receive dividend for my NEXO tokens?

Yes, advanced verification is necessary.

Where do I need to hold NEXO Tokens, in order to receive dividends?

NEXO Tokens must be held/staked in your Nexo account (doesn't matter if it's in the Credit or Savings Wallet) at the ex-dividend date. The ex-dividend date will be communicated in advance.

Competitors

CELSIUS vs NEXO

Summarized: Celsius do a much better job at engaging with their customers, and their token CEL has performed better than NEXO, however, NEXO appears much more professional (imo of course), by taking things slowly but surely. Everything works perfectly, everything is tested, no downtimes, no trash-talking by the employees. CEL at this point seems like a cult, Nexo seems like a business.

Why is CEL so high compared to NEXO?

Visibility, marketing? Various reasons. IMO looking at their trading volume, its VERY low. If even a small-sized whale decided to sell their bags, it would crash. Basically, it's artificially inflated due to low liquidity.
Also keep in mind, Coinmarketcap and Coingecko show incorrect Market Cap data for Celsius. You can see the real value by visiting the Celsius website. It will crash soon, and hard. Again, my opinion.

Frequently asked questions:

Are there any airdrops/giveaways/freebies?

No. There are currently no giveaways. If you get contacted via Facebook, Twitter, Telegram or anywhere else, it's a scam. The only "giveaway" that is currently running is the fact that you can win 100k Nexo tokens for voting for which coin should be added next to the platform (You can do this via the app, on the home screen, scroll the top banners to the right until you find the one about voting.)

When will the Card (Crypto Credit Card) be released?

There are no official announcements yet, but all we know that is it currently in a private beta. A select few European (non UK) customers have been given cards to test the upcoming platform.

When will the Exchange be released (Buying and selling crypto within the Nexo app/webapp)?

Just like the card, there is no official news yet. All we know that there are a select few IOS users who have been given early access to test the functionality of this exchange. Currently, users are reporting a 1.5%~ spread on the exchange, which is quite high.

How long does Verification/KYC take?

Generally, it takes about 2 business days, although lately with the increase of users signing up it can take a big longer. If you don't hear back after a week I'd suggest contacting their support.

Support is not answering my emails?

One tip is to go on their website, open the live chat and type in "speak with human" "talk to agent" "human" to get transferred to a real person.

Are deposits and withdrawals free?

Yes, withdrawals are completely free, although deposits depend on which exchange you use to send your assets to Nexo with.

Difference between CREDIT and SAVINGS wallets

You must take into account that you have TWO wallets per asset within the Nexo platform. One for SAVINGS, which will give you interest on any assets you hold in it, and one for CREDIT which is basically your collateral, which you use for taking out crypto-backed loans.

Will Brexit affect UK customers?

There is no official information so far.

Does NEXO have a bonus/referral system?

No, you can not get $ or bonus for referring other users right now. The only thing you can do is share a link to the CARD page, to increase your position in the waiting list.

When are payouts made?

Usually around 12:00AM UTC, daily!

What coins are accepted as collateral?

BTC, ETH, XRP, LTC, XLM, BCH, EOS, LINK, TRX, stablecoins, PAXG, NEXO and BNB. More information

What is Collateral?

Collateral is crypto assets you would put up for a loan (if you don't repay they will sell it to cover the default). You do not earn interest on crypto that you use as collateral. If you are not borrowing from Nexo then your funds are held in a "savings wallet" where it can earn interest until it is either moved off the platform or used as collateral on a loan.
Nexo tokens do not earn interest the same way as other tokens, but do provide dividends from the profits of the company.

What are the loan-to-value (LTV) rates?

A Loan-to-Value (LTV) ratio is an indicator representing the size of a loan compared to the value of the assets securing the loan.
The Loan-to-Value percentages of each asset are dynamically determined by the Nexo blockchain oracle algorithms, depending on the current and historical volatility and market liquidity of the asset.
More info

How many confirmations does my transfer need?

  • BTC deposit require a minimum of 6 confirmations
  • All ERC20 deposits (ETH, PAXG, NEXO, USDT, TUSD, USDC, PAX, DAI) require 50 confirmations
  • LINK deposits require 40 confirmations
  • XRP (Ripple), XLM (Stellar), BNB, NEXO BEP2 and EOS - near-instant
  • BCH deposit requires 16 confirmations
  • LTC deposit requires 6 confirmations
  • TRX (Tron) deposit requires 20 confirmations

How can I find a list of important announcements, information?

https://support.nexo.io/hc/en-us/sections/360002501674-News-and-Updates-2020
On the sidebar, you can go back to 2018.

When will NEXO be listed on Coinbase?

It's very unlikely, because they are considered competitors. Furthermore, Nexo token is very clearly a security, based of the dividend payments and now the buyback program, these big exchanges aren't licensed to deal in securities, hence they will not list Nexo.

Will the (possible) upcoming bill regarding regulating self-hosted assets affect US NEXO customers?

No, Nexo is not self hosted. BitGo is their custodian.

How often does NEXO add new coins?

Not regularly at all.

Can NEXO be mined?

There is a fixed circulating supply of Nexo, the remainder the Team have said are locked until TBA.
So there isn't a dilution, as there are no new Nexo created - the dividend paid in Nexo needs to be bought from existing circulating supply by the company in order to be paid to holders.

Important information

NEXO's Roadmap?

  • Banking license: Nexo is trying to either acquire a company or get their own banking license (like Revolut and Monzo) so they have more flexibility in their operations. It would be a huge step for a crypto company to get this and shows their ambition
  • Credit Card: This will be similar to CDC and they'll offer generous cash back incentives of 2% when you get your credit card.
  • Referral Scheme: Currently Nexo has done this massive growth without incentivised referrals, and when they turn this tap the company can likely see a lot of users pouring in for their great savings rates and crypto credit lines. But take a moment to think.. who do you trust more, a company that acquirers users based on their services/product, or a company that gives out bonuses to those who promote/spam their product..
  • Exchanges and more Coins: The ability to exchange crypto within the eco system will go a long way to keeping users within the system. The plan is to let users buy and stake virtually any legitimate crypto asset.
And with this massive roadmap, the core principle they started with by sharing back with the community, they keep everyone's incentives aligned.

Where can I view statistics and information about Nexo?

https://nexologist.com/
https://nexostatistics.com/
https://www.hodlfire.com/go/hf-sheet/

How can I compare the earn rate of Nexo vs BlockFi/Cel/CDC/...?

https://blockscompare.com/

Important reads:

Liquidations: https://medium.com/nexo/why-liquidations-are-needed-and-how-they-protect-us-all-9d426ac70dc2
AMA from the Co-founder Antoni Trenchev: https://youtu.be/LBTrd8C5n1c
Nexo Help Center: https://support.nexo.io/hc/en-us/categories/360000766354-Nexo-Help-Center
Whitepaper: https://nexo.io/assets/downloads/Nexo-Whitepaper.pdf

Telegram Communities

Official Telegram
NEXOnians
NEXOnews
NEXOstatistics

Small thanks?

Took me quite a while to gather and write all of these if something is missing please let me know! Feel free to get me a beer if you'd like :)
(NEXO): 0xa6a87d29c362d63df60cf7667cacdfe411ee30e0
submitted by PM_ME_SMALL_BOOBIES to Nexo [link] [comments]

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submitted by freespinsbonus to u/freespinsbonus [link] [comments]

My guide to start working online. After doing this for three years, I am on track to make $40,000 this year from it.

I have posted something very similar here a few times, and it usually gets a good amount of attention. I apologize if you have seen it before, but some people haven't and they could use the money. In 2018 I made about 15k from this guide (give or take a few sites). In 2019 it was closer to 25k. This year I am on track to make 40k.
I also want to preface this by saying that this post has refs in it. Some are mine, some are random Redditors, and some don't have one. If that upsets you for some reason, click the link, delete the stuff after .com and submit again and that will take care of it.

Top deals for September 2020

Swagbucks $10-$35 Hulu deal
Right now SB has another deal where you get credits to sign up to Hulu with the $5.99 plan. It may only be $20 or it may be $35 when you check as they seem to change it day to day. Since this deal has new terms, the credits might be paid out immediately or after 32 days. The credits can be used for Amazon GC or PayPal credit (both take a few days to get processed). Not only that, but you can get a $25 Amazon GC for $22 worth of points, so you can make even more. You can cancel the subscription after 8 days, but no sooner so you don't lose the points. So, five minutes of work for the equivalent of $16-$29 and a free month of Hulu.
$50 from SoFi for opening an account and direct depositing
This one will require you to have $500 that you can direct deposit. SoFi Money is a savings account, fee-free, 2% APY annual; so typical bank account. This deal will require you to use your SSN, link a bank account, and do a soft pull with Experian to complete. You just need to create a SoFi Money account through the link, deposit $500 twice to the account, and wait for a few days. After the deposit clears (1-2 business days), SoFi will instantly give you $50 bonus. After you get the $50 bonus you can pull out all money and close the account or keep using it.
Another $50 from SoFi but for stocks
After you get the $50 sign up bonus from SoFi Money, flip it through this link and fund the invest account. Since I (and you now) already had an account, it literally took under 5 minutes to set up and fund the account. Either way you do it, SoFi will give you an additional $50 in free stock of your choice. Keep it and hope it grows, or sell it for the quick $50 profit.
$50 from Chime for opening an account and depositing $200
Pretty much the same exact set up as SoFi. This one will require you to have $200 that you can do without for a few days. You just need to create the Chime account through the link, deposit $200 to the account, and wait for a few days. It says direct deposit only, but this tested and worded with just connecting a bank account and doing the deposit. After the deposit clears (1-2 business days), Chime will instantly give you $50 bonus. After you get the $50 bonus you have to wait until your new debit card arrives and is activated before you can move the money out.
$50 from eToro
This is a crypto trading account. The same deal as the other ones. Fund the account using the ref link and get $50. The wait time on this one is usually around 7 business days.
$10-$120 in crypto for watching videos and answering quiz questions
$10 from Coinbase if you buy / sell $100 or more worth of crypto
This is a crypto trading account. The link takes you to the account signup screen. After you create the account visit coinbase.com/trade and initiate a buy or sell (in case you transferred crypto into Coinbase from another account) of $100 USD or more (or 100 USD equivalent of your domestic currency) within 180 days of opening and you will receive a $10 bonus (or local equivalent). Orders can take up to 4 business days to complete.
Pretty much just watch and answer videos for varying types of crypto. The crypto you earn will get deposited into the wallet you create, which can then be cashed out into USD. Depending on the day, you can earn up to $120 if all free tokens are available.
$10-$40 for signing up with OhmConnect
A great website if you have one of a few utility companies in California, Texas, or Toronto. OhmConnect supports PGE, SCE, SDGE, Smart Meter Texas, and Toronto Hydro. You essentially just connect your utility account, and earn points. You earn $10 after signing up and getting to a status level of Silver (took me like 10 minutes). $10 more if you connect a smart device like NEST.
Several hundred for test driving cars
Pretty easy. Click the link, go through the dealerships, get your code, test drive a car, and get paid. I did this last year and I was in and out on my lunch break. These offers come and go all year, so check frequently.
UNCLAIMED/ABANDONED PROPERTY
States return millions of dollars worth of unclaimed property a year. Unclaimed property typically consists of unclaimed money in accounts that have sat dormant for more than a year. Every state has its own abandoned property site but a good place to start is MissingMoney.com. It’s very simple to search there. If anything comes up, continue the search/filing on your states gov website. Example: California’s is https://ucpi.sco.ca.gov/UCP/Default.aspx. Just cashed a check for $35 from an account I closed years ago.
The following are ref links that I am putting in for a random Redditor or two, just to spread goodwill and try to give back to all of you. I get nothing from these and will be doing this for one or two random people every month. PM me if you want your ref link featured here. The Redditor for September is u/moongains
PERKSY
From Moon: Perksy is a survey app with nice payouts and a fun vibe. I’ve made about $50 on the app with little effort.

Ok. Back to the main post content.

Hey everyone. This is an all-inclusive write-up compiling all of my past posts on how I am making upwards of $1,000 a month through the use of beermoney sites. Beermoney is, according to Urban Dictionary, "Extra money for non-essential payments, available for spending on luxuries, hobbies, or a fresh pint of your favorite draft." I use this definition, because this is (in most cases) not intended to be a primary source of income. This is a way to supplement what you already have. There is no way to know what you will make any given month, so do not count on it. My worst month I only made around $500 and my best I made over $2,000. You can also check out my post on using apps to save money and earn cash back.
As I have stated in my other posts, this is not a definitive list of everything a person can do online by any means and refs are included. Do your own research on the subs I list, use Google, ask other people, and find what works for you. What I talk about works well for me, my family, and my schedule. Below I will include time requirements to make this money, provide a quick recap of the revenue streams that I have found to work, and provide payment proof for what I can.
I personally invest anywhere from 20 to 30 hours a week doing these sites, on top of my day job. Some days I will make $20 all day, and others I will make over $200. I prefer this, as opposed to a second job, because I can pay partial attention to a laptop and 'clock-out' when I want to focus on family or Netflix. This works better for my temperament and preferences.
Tech required: A working laptop, a cellphone (in some cases), an internet connection, and a fairly good amount of patience to learn. If you are in a position where these tools are not available, you can also do many of these from a library.
I put all of this info into an e-book, plus a TON of other stuff that was either written by me, or compiled from others (with their permission). Here is a link to it. If you tried even half of the stuff in the book, you would make your money back in less than a day.
The dollar amounts next to each site are what I made in 2018. 2019 and 2020 were considerably more, but I have been too lazy to update all of these. Anyway, on to the revenue streams:
SwagBucks ($775) Surveys – Majority of countries– This is more of a catch-all for stuff to do when you want to make and save money. You can do surveys, play games, and watch videos to earn points. You can also get cash back from using SB to visit and buy from different stores. You get paid in points which can be used to purchase gift cards or sent directly to PayPal. Each point is the equivalent of $0.01. Usually, SB will have deals where you can get certain gift cards for less. For example, a $20 Amazon gift card for 1800 SB points. The payout can be slow, but if you don’t mind running ads in the background, using a plug-in to save money while you shop, or killing time playing a game, SwagBucks can be a great way to earn $20 a month.
Mturk ($3,142): Small tasks and surveys - US mainly. Confirmed also in Canada, Europe, & Aus. - This is by far the one I spent the most time on and has been the best earner. This site lets humans perform small tasks that robots still cannot do well. It is owned by Amazon. Downside is there are slim pickings on weekends and when colleges are out on vacation. I typically stick to surveys, but once in a while do batch jobs which there are more of. You have to wait a week for your first payout, which will go to an Amazon payment account. You can the get payouts one time per day after that. Approval for mturk can sometimes be a pain in the ass, almost impossible if you are not from the US, but is definitely worth it in my opinion if you can get approved.
Secret shopper US and Secret shopper UK ($485): In-person store evaluation - US and UK only - These links will take you directly to a sign-up page. US version populates with my ref code. Feel free to delete it before signing up, if you want. You will be taken to the app store where you can download the actual app on your phone. Essentially, you go to stores near you that are identified in the app and take pictures or videos of specific items. I like this one because I have the ability to make a few extra bucks if I am already out shopping. The pay for this one averages about $15/hr. Note: I have not tried the UK version, but it was recommended by another Redditor.
Usertesting ($800): Website evaluation - US & maybe select others - This site allows you to review new websites and apps. The pay is usually $10 per recorded test lasting 10-15 minutes. Sometimes the pay is more, but never less. I average a few tests a week. Some weeks I will get a dozen tests, other weeks nothing. This one is great to practice your feedback skills, which open up a lot of other doors. Pay is through PayPal, one week (to the minute) after the test is complete.
Redbubble ([$305]: T-shirt creation - Worldwide - After getting rejected by merch by Amazon, I came here. You design and publish t-shirts, phone cases, and about 20 other mixed products, with each sell netting you a few bucks. They are based in Australia, and do pay-outs once a month on the 15th via PayPal. You do all of the uploading and just wait for people to find it with keywords or searches. Great if you are artistic or know how to use any creative software.
Prolific.ac ($3,500): Based in the UK, this used to be one of my favorites because they pay in Great British Pound (GBP) which is the equivalent to 1.25x the USD. Prolific is similar to Mturk (listed earlier) in that all you do is fill out surveys. Pay is better than Mturk, but the availability of surveys is not as great. In fact, I personally haven't seen a survey in months, but see others get them often. The initial questionnaire you have to fill out is a bit long taking me about 20 minutes, but ensures you qualify for every survey they show you and will never get disqualified for not meeting the demographic. You have to hit £5 before you can cash out, but you get this after a few days of watching for surveys. Leave it open in a tab and check it throughout the day. I wish I could do this one all day because the pay rocks, but I only see a few a day. They pay out in PayPal anytime you request it and have a balance of over £5.
Ebay ($190): Selling goods - Worldwide - Not much explanation needed here. You buy stuff in-person low, and sell online high. Here is a $2.99 beginner's guide dedicated to flipping that covers absolutely everything you need to know (also mine).
PlaytestCloud ($190): Video game testing - Many countries - This is just simple game testing. It is super fun, very quick, and you get to test new games before anyone else. They send you tests for different listed devices, you download the game file, and they record your screen and voice. The only issue I have with this one is that you are only able to test 3-4 games per month, at $9-$11 each. Paid almost immediately after each test via PayPal.
UsabilityHub ($15): App testing - Many countries - This one lets the user take quick one or two minute surveys on your opinion of an app screen. They pay for this averages to about $.10 a minute, so it is nothing spectacular. Just leave it open in another tab and take a quick survey when you hear a new one come available.
UserInterviews ($50): Studies - US & maybe select others - Similar to Respondent, but with less approval when filling out the demographics for each study.
Product Testing ($1,500): Mainly US & some UK/CA - There are places online that will pay you to leave positive/negative reviews for companies or purchase products. This is actually a big business model in China and other S.E.A. countries. Personally, I already know that Amazon reviews, Yelp, BBB, and everything in the middle are at least half fake reviews; so I may as well monetize on it. If this is something that sounds interesting, here is more info.
Reddit subs($2,300): It is super simple to use Reddit as more than a social media tool or news website. Knowing the right subs to subscribe to, and what to look for, can help you make a few extra hundred bucks a month. There are a ton that you can find small or medium jobs on, but I am only going to outline the top four that have worked for me.
/slavelabour: This sub is normally dedicated to doing cheap jobs for people, at cheap rates. I have both had things done for me here, as well as completed a lot of tasks. It may seem daunting at first, with people offering $2 to write an essay (seriously though.. no homework here), but there are gems to be found. Two of my best jobs have been creating meal plans for $60, and finding the name of a book for $80. Cancel that. SL is now power mods that block the decent work and only allow the trash jobs. No longer worth the time. I only leave it up as people ask about it when I don't.
/signupsforpay: Since slave labour does not allow paying people to sign up for websites, this is where to go to make a few bucks with signups. From connecting your gas and electric information, to signing up with Acorns, I have probably made a grand total of $100 here. Nothing overly special, but $100 is $100.
/giftcardexchange: This is one of my favorites, because you can buy and sell all of those gift cards you have/want. Have a $20 gift card from a family member that you will never use? Sell it here for 80-90%. Want to buy Amazon gift cards for less than face value? Get 'em here. I do a lot of buying on Amazon, so this sub has easily saved me hundreds over the course of using it. Caution: Trade carefully.
I know this is a lot of info and a bunch of it is repetitive from my last post, but I wanted to provide as much info as possible for the compiled post. Hope it helps!
submitted by SuperSecretSpare to povertyfinance [link] [comments]

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submitted by freespins1 to u/freespins1 [link] [comments]

Partypoker stealing 100k of my money! What are my options and what is my probability of success and the coast associated to sue them.

This is a repost: You find the story behind this incident below.
I want to know if it is an option to sue GVC in the UK since this is a company listed on the London Stock exchange. Suing them in Gibraltar, where they got the licence or in Germany, where I am from, are unfortunately no options, due to lack of prospects of success.
Is it possible to sue them in the UK? Which costs would be associated with that? What probability of success are you estimating?
I also posted this in scams (and this is a repost as my original on is still pending a few days in) as i want to let as many people know about the business practices of Partypoker / GVC:
I want to warn other gamblers about Partypoker. They basically stole more than 100k of my money, 50k of which were deposits. They can do this really easily, especially in Germany (as I will explain later).
This warning is not just about Partypoker as the parent company (GVC) holds more big brands. For example:
Bwin
Ladbrokes
Coral
.....
I played there for 2 or 3 years. I was also constantly increasing my wager over time.
At the end of october 2019, they locked my account and put it under security review. They also ask for documents which I already had sent in before. Nevertheless I sent them again.
After some emails back and forth they gave me my christmas gift. This is the original Email:
"Dear XXX,
We are contacting you regarding your partypoker account "XXX".
An investigation into your account has highlighted suspicious activity related to your account.
This activity is in breach of points 4, 6, 13 and 16 of the terms and conditions of partypoker.
The full terms and conditions are available at:
https://help.partypoker.com/en/general-information/legal-matters/general-terms-and-conditions
As a result, your partypoker account has been closed and the funds remaining in your account will be confiscated.
Please be aware that you are no longer permitted to create or use any account on the partypoker network.
Kind Regards,
Poker Operations Team"
They quoted half of their terms and stole my money. I ask for a reason and for proof, which was not given at any point.
By the way I was not playing poker but casino games, most of the time Black Jack, not even card counting, which they might deem as illegal (which it clearly isn't).
I also messaged the regulators in Gibraltar, they took a few month and also basically said they are fine with the way party handled the situation, at least they said what they are accusing me of:
This also is the original email:
"Good morning XXX,
I write with regards to your complaint against Party Poker.
Please be advised that I have been in dialogue with Party Poker on the matter, who have provided me with a detailed and technical report with regards to your account. I have also made my own enquiries. The substantial and technical material that I have seen indicates that your account is being operated by a third party who is the controller of a series of accounts for the purpose of systematically abusing promotional bonuses. Your account is de facto a proxy account.
There is strong and clear evidence that the identity used on your account and the identities used on the other accounts are all associated. The controller of all accounts knows that they are prohibited from operating any account either directly or indirectly. I will not disclose how all of the accounts have been detected as to do so would be to the detriment of Party Poker and to the advantage of those that seek to circumvent its security protocols. Nevertheless, further information on the Gambling Commissioner’s views on ‘bonus abuse’ can be found here: https://www.gibraltar.gov.gi/finance-gaming-and-regulations/gambling-commissioners-advice-complainants#ancla8.
I am satisfied that Party Poker is acting appropriately and in accordance with its terms and conditions and I am unable to recommend that it pays you any monies.This is my Proposed Determination to your complaint. I am also forwarding Party Poker a copy.
I am now inviting you and Party Poker to comment on this Proposed Determination. It is also the opportunity for both parties to bring to my attention any facts or issues either party believes I have omitted or misunderstood in my assessment.
Regards,
John"
Again no evidence was given. It's also hard to defend myself without getting presented with the evidence.
This by the way is complete bullshit, I always have used my account myself and nobody other than me was using it.
I think they used fabricated evidence to not pay big players.
It was even worse than that:
They baited me to play there with a 10% cashback offer on my losses. Before End of November I lost many weeks in a row. Most of the time 50k €. They had a ponzi scheme like promo going. Letting me play until I finally win and when don't pay me anyways. No risk for the house at all, they keep the money no matter the outcome (deposits included).
The Gibraltar Gambling commission is also highly corrupt. They basically don't even want any complaint to get in at all. You can't submit a complaint online. You have to print several pages and fill out everything by hand. They will also ignore your claims until you get really annoying with all your reminders and messages you sent to them, then they will decide in favor of the casino.
I can't even sue the casino, because the legal situation in Germany regarding Online gambling and Online casinos without a licence is fucked up.
I consulted many different lawyers all telling me not to sue them, because my chances of winning are slim, not because partypoker is right, but because this is deemed illegal gambling and I basically can't get any money back. Even in case of winning it would not be clear if i can get any money back, because Gibraltar is not in the EU where i could enforce GVC to pay what they owe me.
A judge friend of mine even advised me not to sue, because Gibraltar is too corrupt and the legal fees are astronomical.
So neither in Germany I can get what's mine nor in Gibraltar (most probably).
Basically Party knew about the loophole in German law and exploited it. I think especially German Players are in danger, no way they could get away with this in Great britain for example.
CLIFFS:
-Partypoker stole almost 105k of my money (half winnings, half deposits) with a far fetched explanation, which I only got from the regulators after filling a complaint. At no point any evidence was shown.
-The regulators also decided not to hold partypoker accountable.
-Partypoker also used a ponzi like scheme to bait me in and take my money as long as i kept losing, once i had a big upswing, they kept my winnings and deposits anyways.
- Partypoker also knew about a loophole in German law about illegal Gambling and exploited it, in order to get away with "confiscating" (stealing is a better word) my entire balance.
submitted by doccani to LegaladviceGerman [link] [comments]

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Casumo Review

Casumo is a top-quality online casino and sportsbook, with a strong reputation for delivering excellent customer service, offering a rich array of sports to choose from, and securing some super competitive deals and offers for their players. Previously best known for their casino games, the brand signed an agreement with sportsbook supplier Kambi in 2018 to expand their offerings, and this has really taken off amongst sports betting fans.
Since its initial inception in 2012, Casumo has worked hard to establish a strong presence within the world of sports betting. The results speak for themselves; the site was the winner of the eGaming Review (EGR) Rising Star Award in 2013, just a year after their launch, and took the trophy for Innovation in Casino for 2014 and 2015. 2015 also saw their mobile efforts acknowledged as they pocketed Mobile Casino Product of the Year, and 2017 was another double bonus, with nods for Affiliate Program and Mobile Operator. This victory for their mobile operation was repeated in 2018, and they finished 2019 on a high thanks to the International Gaming Award for Best Online Casino Operator.

Casumo Sportsbook Welcome Offer & Promotions

As any casino or sportsbook fan will tell you, the secret to success for many of these sites is the way they reward their customers. Promotions and deals are essential for getting new players through the door, rewarding and recognizing loyalty, and giving long-term faithful fans a reason to stay and play.
The Welcome Bonus is perhaps the most crucial element to this offering, as it is often the first interaction a player will have with the site – and it is essential that their first impression is a great one!
Casumo keeps things simple, but appealing, with a free £10 bet awarded to all new players who have already wagered an initial £10 bet. In essence, this doubles the deposit and is a great welcome for all newbies. To qualify, customers must place a bet of £10 minimum, on any pre-match or in-play sports market, at odds of at least ⅗. Once the initial qualifying bet is settled, the account will be automatically credited with the Free Bet, and this can be used on sports and games to boost the chances of a healthy profit! Both the qualifying and the free bet must be placed within 35 days of registration to the site, and there is then a 35-day window in which to settle the qualifying bet.
This Free Bet is a super generous deal, which is sure to be a real incentive to new players searching for a lucrative deal. The site also offers a range of regular deals, promotions, and offers, especially during major sporting competitions and tournaments.
These can range from free bets, as seen in the welcome offer, to matched bets, reload bonuses, and even the chance to grab great cash prizes. It is crucial that players check in with the site regularly, as some of these offers are time-sensitive, and there is a risk of missing out if you don’t move fast.
As well as offering great bonuses to new visitors, sportsbooks and casinos must work hard to acknowledge more long-term customers and those who remain consistently loyal to the site. This is usually achieved through a VIP or loyalty program, and these schemes are a great way to offer exclusive, members-only discounts, games, and deals.
At present, Casumo runs a fantastic VIP scheme that sees players given a chance to ‘Level Up’ as they play games on the site. This offer is targeted mainly at the casino element of the site, where different games allow players to travel to different planets, grabbing valuable experience as they go. Leveling up unlocks new perks and bonuses, such as deposit extras and even cash bonuses, until you reach the pinnacle of Casumo success: the coveted black belt.
Trophies are also a valuable aspect of the site and can be achieved through actions such as winning three times in a row or enjoying a particularly big win. The VIP scheme does not currently seem to have many perks for the sportsbook side of the site, but it is highly likely that this aspect will become more incorporated as it grows and develops.
>> Get Your Free Bet Now <<

The Product, Sports, and Markets

One of the significant advantages of Casumo is the vast range of choices available to players. There is a wide variety of sports on offer, including Olympic and championship events, American Football, Aussie Rules Football, and traditional football. Athletics, beach volleyball and golf are also popular, as are racquet sports including badminton, squash, tennis and table tennis. Water sports such as swimming and surfing sit alongside ball sports, including basketball, netball, baseball, rugby and handball, and fans of the frozen will enjoy winter sports and ice hockey matches. Also in the mix are darts, snooker, MMA, motorsports, boxing, and curling, as well as classic favourites greyhound and horse racing – there is something to suit every interest, however niche!
Live betting is a massive part of the industry, and Casumo recognises this by making it a key feature of its offering. Fans can place bets at any point during the match to place a bet, helping you stay totally up to date and accurate as the magic unfolds before your eyes. A single button takes you to every match currently in play, meaning you can get to where you need to be faster, and increasing your chances of success. This aspect is a huge bonus for the site and helps them to stand with some of the major names in the business.

eSports

eSports is an area that is rapidly growing in popularity, and so it comes as no surprise that Casumo has decided to grab a piece of what could be a very profitable pie. As the name suggests, eSports refers to ‘electronic sports’ and refers to a type of console or computer game played by individuals or teams, usually over the Internet. The size and scale of these events mean that they can attract significant sponsorship deals from a host of top companies, and as a result, they have the potential to be extremely lucrative.
Casumo have ensured that they do have something to offer every type of customer, and currently offer the following games under their eSports banner: Call of Duty, CS: GO, Dota 2, Dragon Ball, FIFA, Hearthstone, Heroes of the Storm, League of Legends, Overwatch, PUBG, Rocket League, Starcraft 2, Street Fighter, Super Smash Bros and Tekken.
In addition to offering a host of some of the most popular games on the market, Casumo also offer great deals, promotions and offers on major events and tournaments – make sure you are checking in with the site to avoid missing out on a great opportunity.
>> Get Your Free Bet Now <<

Casino

Prior to adopting the sportsbook in 2012, Casumo were best known for their online casino, and this is an aspect which remains active. With top producers such as NetEnt, Evolution Gaming, Quickspin, and Red Gaming working hard behind the scenes, they are able to offer some of the most popular slots and titles on the market, including Book of Dead, Starburst, Dead or Alive II, and Bonanza Megaways.
In addition to a wide range of titles, customers can benefit from a super tempting welcome deal, which sees the awarding of a 100% match bonus, and an impressive 30 wager-free spins to spend on classic favourite Book of Dead. These freebies will be allocated upon registration, and do not come with any wagering requirements – a welcome rarity in the industry! Upon the initial deposit of £10, players will benefit from a 100% bonus up to a total of £300, and this does come with a 30x wagering requirement. This deal is an excellent introduction to the casino, and a chance to really enjoy and explore the site as a new customer!

Mobile & App

A great mobile experience is essential, and Casumo has this covered with a dedicated mobile app, designed to work on both iOS and Android devices. The sportsbook is a real treat here; users can filter the search function, so you only see the sports you need, and it is possible to custom build your very own bet, all from the convenience of your device.

Licensing and regulation

To ensure total safety, security, and peace of mind, Casumo is fully licenced and regulated by the UK Gambling Commission, as well as the Malta Gaming Authority.

Customer Support

In the event of an issue, players can get in touch with an expert via the Live Chat feature, and assistance is also available via email.

Payments

Offering a range of payment methods is essential, and players need to be able to access their wins at a moment’s notice, as well as make deposits quickly and easily. There are a variety of payment options available, and these include Visa, MasterCard, Skrill, Neteller, Apple Pay, Pay By Mobile, Paysafecard, and MuchBetter.

Reliability

Ever since its inception in 2012, Casumo has developed a strong reputation for great games, lucrative bonuses, and excellent customer service, which helps them stay reliable and relevant in a crowded market.

Betopin’s Verdict

Whether you are brand new to the world of sports betting, or a seasoned pro just looking for a chance, Casumo is a top choice. With a vast variety of sports, tempting promotions and deals, and close attention to detail, they have provided a robust and established site that puts the needs and preferences of its customers at the forefront of their business.
>> Get Your Free Bet Now <<
submitted by freespins1 to u/freespins1 [link] [comments]

Partypoker stealing 100k of my money! What are my options and what is my probability of success and the coast associated to sue them.

This is a repost: You find the story behind this incident below.
I want to know if it is an option to sue GVC in the UK since this is a company listed on the London Stock exchange. Suing them in Gibraltar, where they got the licence or in Germany, where I am from, are unfortunately no options, due to lack of prospects of success.
Is it possible to sue them in the UK? Which costs would be associated with that? What probability of success are you estimating?
I also posted this in scams (and this is a repost as my original on is still pending a few days in) as i want to let as many people know about the business practices of Partypoker / GVC:
I want to warn other gamblers about Partypoker. They basically stole more than 100k of my money, 50k of which were deposits. They can do this really easily, especially in Germany (as I will explain later).
This warning is not just about Partypoker as the parent company (GVC) holds more big brands. For example:
Bwin
Ladbrokes
Coral
.....
I played there for 2 or 3 years. I was also constantly increasing my wager over time.
At the end of october 2019, they locked my account and put it under security review. They also ask for documents which I already had sent in before. Nevertheless I sent them again.
After some emails back and forth they gave me my christmas gift. This is the original Email:
"Dear XXX,
We are contacting you regarding your partypoker account "XXX".
An investigation into your account has highlighted suspicious activity related to your account.
This activity is in breach of points 4, 6, 13 and 16 of the terms and conditions of partypoker.
The full terms and conditions are available at:
https://help.partypoker.com/en/general-information/legal-matters/general-terms-and-conditions
As a result, your partypoker account has been closed and the funds remaining in your account will be confiscated.
Please be aware that you are no longer permitted to create or use any account on the partypoker network.
Kind Regards,
Poker Operations Team"
They quoted half of their terms and stole my money. I ask for a reason and for proof, which was not given at any point.
By the way I was not playing poker but casino games, most of the time Black Jack, not even card counting, which they might deem as illegal (which it clearly isn't).
I also messaged the regulators in Gibraltar, they took a few month and also basically said they are fine with the way party handled the situation, at least they said what they are accusing me of:
This also is the original email:
"Good morning XXX,
I write with regards to your complaint against Party Poker.
Please be advised that I have been in dialogue with Party Poker on the matter, who have provided me with a detailed and technical report with regards to your account. I have also made my own enquiries. The substantial and technical material that I have seen indicates that your account is being operated by a third party who is the controller of a series of accounts for the purpose of systematically abusing promotional bonuses. Your account is de facto a proxy account.
There is strong and clear evidence that the identity used on your account and the identities used on the other accounts are all associated. The controller of all accounts knows that they are prohibited from operating any account either directly or indirectly. I will not disclose how all of the accounts have been detected as to do so would be to the detriment of Party Poker and to the advantage of those that seek to circumvent its security protocols. Nevertheless, further information on the Gambling Commissioner’s views on ‘bonus abuse’ can be found here: https://www.gibraltar.gov.gi/finance-gaming-and-regulations/gambling-commissioners-advice-complainants#ancla8.
I am satisfied that Party Poker is acting appropriately and in accordance with its terms and conditions and I am unable to recommend that it pays you any monies.This is my Proposed Determination to your complaint. I am also forwarding Party Poker a copy.
I am now inviting you and Party Poker to comment on this Proposed Determination. It is also the opportunity for both parties to bring to my attention any facts or issues either party believes I have omitted or misunderstood in my assessment.
Regards,
John"
Again no evidence was given. It's also hard to defend myself without getting presented with the evidence.
This by the way is complete bullshit, I always have used my account myself and nobody other than me was using it.
I think they used fabricated evidence to not pay big players.
It was even worse than that:
They baited me to play there with a 10% cashback offer on my losses. Before End of November I lost many weeks in a row. Most of the time 50k €. They had a ponzi scheme like promo going. Letting me play until I finally win and when don't pay me anyways. No risk for the house at all, they keep the money no matter the outcome (deposits included).
The Gibraltar Gambling commission is also highly corrupt. They basically don't even want any complaint to get in at all. You can't submit a complaint online. You have to print several pages and fill out everything by hand. They will also ignore your claims until you get really annoying with all your reminders and messages you sent to them, then they will decide in favor of the casino.
I can't even sue the casino, because the legal situation in Germany regarding Online gambling and Online casinos without a licence is fucked up.
I consulted many different lawyers all telling me not to sue them, because my chances of winning are slim, not because partypoker is right, but because this is deemed illegal gambling and I basically can't get any money back. Even in case of winning it would not be clear if i can get any money back, because Gibraltar is not in the EU where i could enforce GVC to pay what they owe me.
A judge friend of mine even advised me not to sue, because Gibraltar is too corrupt and the legal fees are astronomical.
So neither in Germany I can get what's mine nor in Gibraltar (most probably).
Basically Party knew about the loophole in German law and exploited it. I think especially German Players are in danger, no way they could get away with this in Great britain for example.
CLIFFS:
-Partypoker stole almost 105k of my money (half winnings, half deposits) with a far fetched explanation, which I only got from the regulators after filling a complaint. At no point any evidence was shown.
-The regulators also decided not to hold partypoker accountable.
-Partypoker also used a ponzi like scheme to bait me in and take my money as long as i kept losing, once i had a big upswing, they kept my winnings and deposits anyways.
- Partypoker also knew about a loophole in German law about illegal Gambling and exploited it, in order to get away with "confiscating" (stealing is a better word) my entire balance.
submitted by doccani to LegalAdviceEurope [link] [comments]

Partypoker stealing 100k of my money! What are my options and what is my probability of success and the coast associated to sue them.

This is a repost: You find the story behind this incident below.
I want to know if it is an option to sue GVC in the UK since this is a company listed on the London Stock exchange. Suing them in Gibraltar, where they got the licence or in Germany, where I am from, are unfortunately no options, due to lack of prospects of success.

Is it possible to sue them in the UK? Which costs would be associated with that? What probability of success are you estimating?
I also posted this in scams (and this is a repost as my original on is still pending a few days in) as i want to let as many people know about the business practices of Partypoker / GVC:
I want to warn other gamblers about Partypoker. They basically stole more than 100k of my money, 50k of which were deposits. They can do this really easily, especially in Germany (as I will explain later).
This warning is not just about Partypoker as the parent company (GVC) holds more big brands. For example:
Bwin
Ladbrokes
Coral
.....
I played there for 2 or 3 years. I was also constantly increasing my wager over time.
At the end of october 2019, they locked my account and put it under security review. They also ask for documents which I already had sent in before. Nevertheless I sent them again.
After some emails back and forth they gave me my christmas gift. This is the original Email:
"Dear XXX,
We are contacting you regarding your partypoker account "XXX".
An investigation into your account has highlighted suspicious activity related to your account.
This activity is in breach of points 4, 6, 13 and 16 of the terms and conditions of partypoker.
The full terms and conditions are available at:
https://help.partypoker.com/en/general-information/legal-matters/general-terms-and-conditions
As a result, your partypoker account has been closed and the funds remaining in your account will be confiscated.
Please be aware that you are no longer permitted to create or use any account on the partypoker network.
Kind Regards,
Poker Operations Team"
They quoted half of their terms and stole my money. I ask for a reason and for proof, which was not given at any point.
By the way I was not playing poker but casino games, most of the time Black Jack, not even card counting, which they might deem as illegal (which it clearly isn't).
I also messaged the regulators in Gibraltar, they took a few month and also basically said they are fine with the way party handled the situation, at least they said what they are accusing me of:
This also is the original email:
"Good morning XXX,
I write with regards to your complaint against Party Poker.
Please be advised that I have been in dialogue with Party Poker on the matter, who have provided me with a detailed and technical report with regards to your account. I have also made my own enquiries. The substantial and technical material that I have seen indicates that your account is being operated by a third party who is the controller of a series of accounts for the purpose of systematically abusing promotional bonuses. Your account is de facto a proxy account.
There is strong and clear evidence that the identity used on your account and the identities used on the other accounts are all associated. The controller of all accounts knows that they are prohibited from operating any account either directly or indirectly. I will not disclose how all of the accounts have been detected as to do so would be to the detriment of Party Poker and to the advantage of those that seek to circumvent its security protocols. Nevertheless, further information on the Gambling Commissioner’s views on ‘bonus abuse’ can be found here: https://www.gibraltar.gov.gi/finance-gaming-and-regulations/gambling-commissioners-advice-complainants#ancla8.
I am satisfied that Party Poker is acting appropriately and in accordance with its terms and conditions and I am unable to recommend that it pays you any monies.This is my Proposed Determination to your complaint. I am also forwarding Party Poker a copy.
I am now inviting you and Party Poker to comment on this Proposed Determination. It is also the opportunity for both parties to bring to my attention any facts or issues either party believes I have omitted or misunderstood in my assessment.
Regards,
John"
Again no evidence was given. It's also hard to defend myself without getting presented with the evidence.
This by the way is complete bullshit, I always have used my account myself and nobody other than me was using it.
I think they used fabricated evidence to not pay big players.
It was even worse than that:
They baited me to play there with a 10% cashback offer on my losses. Before End of November I lost many weeks in a row. Most of the time 50k €. They had a ponzi scheme like promo going. Letting me play until I finally win and when don't pay me anyways. No risk for the house at all, they keep the money no matter the outcome (deposits included).
The Gibraltar Gambling commission is also highly corrupt. They basically don't even want any complaint to get in at all. You can't submit a complaint online. You have to print several pages and fill out everything by hand. They will also ignore your claims until you get really annoying with all your reminders and messages you sent to them, then they will decide in favor of the casino.
I can't even sue the casino, because the legal situation in Germany regarding Online gambling and Online casinos without a licence is fucked up.
I consulted many different lawyers all telling me not to sue them, because my chances of winning are slim, not because partypoker is right, but because this is deemed illegal gambling and I basically can't get any money back. Even in case of winning it would not be clear if i can get any money back, because Gibraltar is not in the EU where i could enforce GVC to pay what they owe me.
A judge friend of mine even advised me not to sue, because Gibraltar is too corrupt and the legal fees are astronomical.
So neither in Germany I can get what's mine nor in Gibraltar (most probably).
Basically Party knew about the loophole in German law and exploited it. I think especially German Players are in danger, no way they could get away with this in Great britain for example.
CLIFFS:
-Partypoker stole almost 105k of my money (half winnings, half deposits) with a far fetched explanation, which I only got from the regulators after filling a complaint. At no point any evidence was shown.
-The regulators also decided not to hold partypoker accountable.
-Partypoker also used a ponzi like scheme to bait me in and take my money as long as i kept losing, once i had a big upswing, they kept my winnings and deposits anyways.
- Partypoker also knew about a loophole in German law about illegal Gambling and exploited it, in order to get away with "confiscating" (stealing is a better word) my entire balance.
submitted by doccani to LegalAdviceUK [link] [comments]

My 2020 work online guide: How to make at least $1,000 a month working online, get paid to do your taxes, and other ways to get free money.

So as a New Year starts to envelop us all, it is time for me to update my work online guide that I have been keeping up for going on two years. Thanks to another top post on the sub this morning, I was reminded of tax time fast approaching. This brought up the ways I need to make money to pay for taxes, that I still need to file, and a whole slew of other anxiety inducing thoughts. So, rather than sitting around and freaking out about it, I am writing out a modified guide with new info and hoping it helps someone else. I will also point out the sites that offer free and paid tax services as I discuss them.
Before the main post, I am including the best deals or opportunities that I have found online recently. This is all stuff I have verified as working in the last few weeks. These are all 100% legit ways to get free money and most are pretty easy. I am including ref links as some of them require it, but also including non-ref where I can.

Top deals for January 2020

Swagbucks $28 Hulu deal
Right now SB has another deal (they always have it) where you get credits to sign up to Hulu with the $5.99 plan. It usually is between $18 and $35 when you check, as they seem to change it day to day. Since this deal has new terms, the credits might be paid out immediately or after 32 days. The credits can be used for Amazon GC or PayPal credit (both take a few days to get processed). Not only that, but you can get a $25 Amazon GC for $22 worth of points, so you can make even more. You can cancel the subscription after 8 days, but no sooner so you don't lose the points. So, five minutes of work for the equivalent of $12-$29 and a free month of Hulu. Non-ref
$25 from SoFi for opening an account and depositing $100
This one will require you to have $100 that you can do without for a few days. SoFi Money is a savings account, fee-free, 2% APY annual; so typical bank account. This deal will require you to use your SSN, link a bank account, and do a soft pull with Experian to complete. You just need to create a SoFi Money account through the link, deposit $100 to the account, and wait for a few days. This is different than most bank account bonuses because it doesn't need direct deposit, just a regular $100 deposit. After the deposit clears (1-2 business days), SoFi will instantly give you $25 bonus. After you get the $25 bonus you can pull out all $125 and close the account or keep using it. Requires ref use for bonus.
Another $100 from SoFi but for stocks
Even though most of us don't have an extra grand laying around for this deal, I will include it for the people that do. After you get the $25 sign up bonus from SoFi Money, create and fund an invest account with $1,000. Since I (and you now) already had an account, it literally took under 5 minutes to set up and fund the account. Either way you do it, SoFi will give you an additional $50 in free stock of your choice. Keep it and hope it grows, or sell it for the quick $50 profit. Requires ref use for bonus.
$50 from Chime for opening an account and depositing $200
Pretty much the same exact set up as SoFi. This one will require you to have $200 that you can do without for a few days. You just need to create the Chime account through the link, deposit $200 to the account, and wait for a few days. It says direct deposit only, but this tested and worded with just connecting a bank account and doing the deposit. After the deposit clears (1-2 business days), Chime will instantly give you $50 bonus. After you get the $50 bonus you have to wait until your new debit card arrives and is activated before you can move the money out. Requires ref use for bonus.
$50 from eToro
This is a crypto trading account. The same deal as the other ones. Fund the account using the ref link and get $50. The wait time on this one is usually around 7 business days. Requires ref use for bonus.
$10-$150 in crypto for watching videos and answering quiz questions
Pretty much just watch and answer videos for varying types of crypto. The crypto you earn will get deposited into the wallet you create, which can then be cashed out into USD. Depending on the day, you can earn up to $150 if all free tokens are available. Non-ref
$10-$40 for signing up with OhmConnect
A great website if you have one of a few utility companies in California, Texas, or Toronto. OhmConnect supports PGE, SCE, SDGE, Smart Meter Texas, and Toronto Hydro. You essentially just connect your utility account, and earn points. You earn $10 after signing up and getting to a status level of Silver (took me like 10 minutes). $10 more if you connect a smart device like NEST. Requires ref use for bonus.
$50 for test driving a Hyundai
Pretty easy. Click the link, get your code, test drive a car, and get $50. I did this the last two years and I was in and out on my lunch break. Keep in mind to check all of the local big dealerships around you. In 2019 I hit up Hyundai, Ford, Kia, and Subaru for $200 in bonuses and tons of free coffee. No ref link included.
The following are ref links that I am putting in for a random Redditor or two, just to spread goodwill and try to give back to all of you. I get nothing from these and will be doing this for one or two random people every month. The Redditor(s) for January
Still looking
I am currently looking for ref links from other users to put here this year. I try to do new people every month, so if you have something LEGIT that can benefir you and someone else, drop me a PM.
Ok. On to the main post content. I will be using the same format I have used since 2018, with updates and any small changes needed. So if it looks familiar, that's because it is.
Hey everyone. This is an all-inclusive write-up compiling all of my past posts on how I am making upwards of $1,000 a month through the use of beermoney sites. Beermoney is, according to Urban Dictionary, "Extra money for non-essential payments, available for spending on luxuries, hobbies, or a fresh pint of your favorite draft." I use this definition, because this is (in most cases) not intended to be a primary source of income. This is a way to supplement what you already have. There is no way to know what you will make any given month, so do not count on it. My worst month I only made around $500 and my best I made over $4,000. You can also check out my post on using apps to save money and earn cash back. I need to update this post, but that is a job for another day.
As I have stated in my other posts, this is not a definitive list of everything a person can do online by any means. Do your own research on the subs I list, use Google, ask other people, and find what works for you. What I talk about works well for me, my family, and my schedule. Below I will include time requirements to make this money, provide a quick recap of the revenue streams that I have found to work, and provide payment proof for what I can.
I personally invest anywhere from 20 to 30 hours a week doing these sites, on top of my day job. Some days I will make $20 all day, and others I will make over $200. I prefer this, as opposed to a second job, because I can pay partial attention to a laptop and 'clock-out' when I want to focus on family or Netflix. This works better for my temperament and preferences.
Tech required: A working laptop, a cellphone (in some cases), an internet connection, and a fairly good amount of patience to learn. If you are in a position where these tools are not available, you can also do many of these from a library.
I put all of this info into an e-book, plus a TON of other stuff that was either written by me, or compiled from others (with their permission). Here is a link to it. If you tried even half of the stuff in the book, you would make your money back in less than a day.
The dollar amounts next to each site are what I made in 2018. I haven't made the time to update all of this, but it is substantial. In 2019 I cleared over $20,000 in additional income working online. Anyway, on to the revenue streams:
Respondent.io ($4,300): Studies - Most countries - This site allows users to screen for online or in-person surveys, interviews, and focus groups. The pay is amazing, easily averaging $125 per test. You take the qualification survey and if you score 100% on it you have about a 10% chance to get invited to take the survey by the coordinator. The site as a whole pays extremely well, but you have to fill out quite a bit of the qualification questionnaires to be invited to anything. I have personally filled out over 500 of them and have participated in about 40 actual surveys. It's more of a numbers game than anything else. Thankfully, each screener only takes me a few minutes to fill out and the pay for time invested is definitely worth it. Unfortunately, there has recently been a screener cap put in place, so choose wisely. I have made up to $300 with one hour of work doing an in person focus group. Most focus groups are done through webcam, so you don't even have to leave your house. They payout via PayPal 7 days after the activity is complete. For two of the last four years, I have used this site to find focus groups to file my taxes. They have both been paid for by Intuit. Not only do I get to file for free, but I get paid $200 to do it. I will definitely be on the look out again this year. Non-ref
SwagBucks ($775) Surveys – Majority of countries– This is more of a catch-all for stuff to do when you want to make and save money. You can do surveys, play games, and watch videos to earn points. You can also get cash back from using SB to visit and buy from different stores. You get paid in points which can be used to purchase gift cards or sent directly to PayPal. Each point is the equivalent of $0.01. Usually, SB will have deals where you can get certain gift cards for less. For example, a $20 Amazon gift card for 1800 SB points. The payout can be slow, but if you don’t mind running ads in the background, using a plug-in to save money while you shop, or killing time playing a game, SwagBucks can be a great way to earn $20 a month. Non-ref
Market Force Secret Shopping This is a new one for me that I just started a few weeks ago, but has shown to be pretty awesome so far. There are a ton of projects that I qualify near me and even a few to audit tax services. This means they will reimburse for the fee to get your taxes done, as well as pay you $75. If I cannot qualify for Respondent this year, I will be going here. You can also mystery shop fast food places, sit down restaurants, and normal shopping. All jobs show how much reimbursement you can get, as well as the flat rate. The only down side here is a pretty long wait for payment as they only pay out once a month. No ref link included.
Mturk ($3,142): Small tasks and surveys - US mainly. Confirmed also in Canada, Europe, & Aus. - I no longer do this as often as I used to, but money can still be made here. This site lets humans perform small tasks that robots still cannot do well. It is owned by Amazon. Downside is there are slim pickings on weekends and when colleges are out on vacation. I typically stick to surveys, but once in a while do batch jobs which there are more of. You have to wait a week for your first payout, which will go to an Amazon payment account. You can the get payouts one time per day after that. Approval for mturk can sometimes be a pain in the ass, almost impossible if you are not from the US, but is definitely worth it in my opinion if you can get approved. No ref link included.
Secret shopper US and Secret shopper UK ($485): In-person store evaluation - US and UK only - These links will take you directly to a sign-up page. US version populates with my ref code. Feel free to delete it before signing up, if you want. You will be taken to the app store where you can download the actual app on your phone. Essentially, you go to stores near you that are identified in the app and take pictures or videos of specific items. I like this one because I have the ability to make a few extra bucks if I am already out shopping. The pay for this one averages about $15/hr. Note: I have not tried the UK version, but it was recommended by another Redditor. Non-ref
Usertesting ($800): Website evaluation - US & maybe select others - This site allows you to review new websites and apps. The pay is usually $10 per recorded test lasting 10-15 minutes. Sometimes the pay is more, but never less. I average a few tests a week. Some weeks I will get a dozen tests, other weeks nothing. This one is great to practice your feedback skills, which open up a lot of other doors. Pay is through PayPal, one week (to the minute) after the test is complete. No ref link included.
Redbubble ($305) 25% off ref code for first order over $40: T-shirt creation - Worldwide - After getting rejected by merch by Amazon, I came here. You design and publish t-shirts, phone cases, and about 20 other mixed products, with each sell netting you a few bucks. They are based in Australia, and do pay-outs once a month on the 15th via PayPal. You do all of the uploading and just wait for people to find it with keywords or searches. Great if you are artistic or know how to use any creative software. This site is usually hottest for me around the holidays, but averages me about $40 a month in completely passive income after a dozen hours of uploading stuff. No ref link included.
Prolific.ac ($3,500): Based in the UK, this used to be one of my favorites because they pay in Great British Pound (GBP) which is the equivalent to 1.25x the USD. Prolific is similar to Mturk (listed earlier) in that all you do is fill out surveys. Pay is better than Mturk, but the availability of surveys is not as great. In fact, I personally haven't seen a survey in months, but see others get them often. The initial questionnaire you have to fill out is a bit long taking me about 20 minutes, but ensures you qualify for every survey they show you and will never get disqualified for not meeting the demographic. You have to hit £5 before you can cash out, but you get this after a few days of watching for surveys. Leave it open in a tab and check it throughout the day. I wish I could do this one all day because the pay rocks, but I only see a few a day. They pay out in PayPal anytime you request it and have a balance of over £5. No rel link included.
Ebay ($190): Selling goods - Worldwide - Not much explanation needed here. You buy stuff in-person low, and sell online high. Here is a $2.99 beginner's guide dedicated to flipping that covers absolutely everything you need to know (also mine). No ref link included.
PlaytestCloud ($190): Video game testing - Many countries - This is just simple game testing. It is super fun, very quick, and you get to test new games before anyone else. They send you tests for different listed devices, you download the game file, and they record your screen and voice. The only issue I have with this one is that you are only able to test 3-4 games per month, at $9-$11 each. Paid almost immediately after each test via PayPal. No ref link included.
UsabilityHub ($15): App testing - Many countries - This one lets the user take quick one or two minute surveys on your opinion of an app screen. They pay for this averages to about $.10 a minute, so it is nothing spectacular. Just leave it open in another tab and take a quick survey when you hear a new one come available. No ref link included.
UserInterviews ($50): Studies - US & maybe select others - Similar to Respondent, but with less approval when filling out the demographics for each study.
Product Testing ($1,500): Mainly US & some UK/CA - There are places online that will pay you to leave positive/negative reviews for companies or purchase products. This is actually a big business model in China and other S.E.A. countries. Personally, I already know that Amazon reviews, Yelp, BBB, and everything in the middle are at least half fake reviews; so I may as well monetize on it. If this is something that sounds interesting, here is more info.
Reddit subs($2,300): It is super simple to use Reddit as more than a social media tool or news website. Knowing the right subs to subscribe to, and what to look for, can help you make a few extra hundred bucks a month. There are a ton that you can find small or medium jobs on, but I am only going to outline the top four that have worked for me.
/slavelabour: This sub is normally dedicated to doing cheap jobs for people, at cheap rates. I have both had things done for me here, as well as completed a lot of tasks. It may seem daunting at first, with people offering $2 to write an essay (seriously though.. no homework here), but there are gems to be found. Two of my best jobs have been creating meal plans for $60, and finding the name of a book for $80.
/WOIncomeReports: A gold mine of information on different websites to check out, gift card survey opportunities, and other generally helpful tips. I have never made money directly from there, but have gotten tools that have helped make at least a thousand over the last year. This section used to be for the original Work Online sub, but that has deteriorated. This sub has kind of died recently, but feel free to contribute.
/signupsforpay: Since slave labour does not allow paying people to sign up for websites, this is where to go to make a few bucks with signups. From connecting your gas and electric information, to signing up with Acorns, I have probably made a grand total of $100 here. Nothing overly special, but $100 is $100.
/giftcardexchange: This is one of my favorites, because you can buy and sell all of those gift cards you have/want. Have a $20 gift card from a family member that you will never use? Sell it here for 80-90%. Want to buy Amazon gift cards for less than face value? Get 'em here. I do a lot of buying on Amazon, so this sub has easily saved me hundreds over the course of using it. Caution: Trade carefully.
I know this is a lot of info and a bunch of it is repetitive from my last dozen posts, but if it aint broke, don't fix it. I wanted to provide as much info as possible for the compiled post, so I took what worked and added to it. Hope it helps and Happy 2020!
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