A few months ago I came across a promoter who was advertising USI Tech as a way of getting onto the Bitcoin bandwagon. I had met this promoter through a reputable facebook group who seemed extremely genuine. It was through him that I invested in USI Tech and eventually lost all my money.
I didn’t know anything about USI Tech but I was sold on the fact that with every package bought, which was worth approximately £50 per package, that I would receive a 100% return once I purchased 13 packages. This meant that I would receive back 1 package per week equating to approximately £50 per week return.
I genuinely trusted the person who promoted this investment to me. He assured me that in the event that Bitcoin would plummet, that USI Tech was well funded and would be able to pay back all of their investors. This has since turned out to be a lie.
In total, I invested £600 in packages and within a few weeks I saw two extra packages added to my account. I didn’t really know much about the way USI operated, but a lot of this was mostly due to my own ignorance and lack of education. I had a lot going on at that time in my life and the system seemed very overwhelming to learn. So I decided to put it at the back of my mind and trust that my money was ok.
A few months later I decided to look into my account. To my shock, the account said that I had zero packages where once I had 15 packages! I decided to contact USI customer services expecting a reply but I heard nothing back. I then decided to contact the promoter who originally sold the investment to me. He told me that because Bitcoin had plummeted, so did USI Tech. They have since stopped paying people out. However, they have assured investors that they will pay everybody back within 12 months.
I mentioned to the promoter that my account was showing zero packages, but the promoter said this was normal and that there was some small print telling me how much I was owed. I have still never found this and there is absolutely no information out there telling me otherwise. To my dismay, the promoter then tried to offer me another investment. Apparently, if I invest $40 today I could see a return of 1% a week! I really wanted to tell him where to stick it. I trusted his judgment last time and look where that has got me?
In large part, I take full responsibility. I blindly invested in something that I didn’t do enough research on. Even when I didn’t understand how to use the platform, I didn’t ask the questions that my gut was begging me to ask.
I am annoyed but I am not too bitter about the situation. There are 4 things I have learned as a result of investing with USI Tech and unfortunately losing all of my money.
4 Things I Have Learned:
1) Always Research A Potential Investment
Research it until you know exactly how it works. Never blindly invest. Never invest on the back of somebody else’s confidence. If you are unsure, do your research until you are sure. If you find that it is too complicated, then do yourself and favour and don’t invest. Some things are a gamble in life and if you choose to invest anyway, make sure it is not a significant amount.
2) Recognise A Bullshitter When You See One
If he/she has lost you money once, then bullshitted their way out of it, they will bullshit you again. If they seem legit, then ask them the questions that your gut is telling you, even if you sound like a nervous nelly! Ask until the cows come home. Do not be afraid of being a nuisance. If they don’t have the time of day for you, they are not worth your investment.
3) Don’t Blame Yourself
It is perfectly normal to feel a bit silly for making an investment only for it to disappear right from under your nose. You may feel a sense of resentment towards the company who seem to have brushed your loss off as not that big of a deal. You may even start to berate yourself for making such a silly mistake, believe me, I have been there. But blaming yourself doesn’t bring your money back, which leads me to number 4.
4) See It As A Lesson Learned
Thankfully I only invested £600, but then again £600 is still £600. The reason I invested so little is because, many years ago I was scammed into a pyramid scheme. That was a lesson learned. I have since invested in many legitimate stocks over the years. However, when it came to investing with USI Tech, I was aware what little knowledge I had and so decided to play cautiously. And because of that lesson, I didn’t lose a significant amount of money.
All in all, I will carry on investing. But the next time I hear of the hype from companies like Bitcoin and USI Tech, I will throw caution to the wind. I have invested in reputable companies in the past and until I further my knowledge in the investment field, I will not invest in anything I am not 100% sure of, no matter how confident the sales guy is.