Get my Crypto Currency Investing Course AT THE LOWEST POSSIBLE PRICE
As things do have to come to an end but it’s looking more and more likely that Bitconnect will be next. The writing has been on the wall for some people for a while. A quick Google of Bitconnect you will see a lot of things going against them. Unfortunately, a lot of people will lose out on a lot of money with this lending program.
Bitconnect is a lending program which uses new investors money to pay for the established members to receive their ‘income’
Bitconnect “is an open source, peer-to-peer, community-driven decentralized cryptocurrency that allows people to store and invest their wealth in a non-government controlled currency, and even earn a substantial interest on investment”
So we present this… This is 3 days old. Looks pretty strong if you ask me.
After launching in 2016, the market cap of Bitconnect’s BCC currency swiftly rose to $2 billion, placing it in the crypto big league (since revised on CoinMarketCap from 8th to 15th due to a coin supply change (little hint that the money was needed). It’s since plummeted to a quarter of its ATH, and, in a widely shared tweet from Vitalik Buterin, the Ethereum chief deployed the word that every enterprise dreads – ponzi.
Investors who put $10,000 into Bitconnect are promised daily interest of 0.25%, which works out at an annual return of over 90%.
I wouldn’t call it earning income but this is a breakdown of how it works.
1. Deposit bitcoin with Bitconnect
2. Purchase BCC on their exchange
3. Invest these coins in Bitconnect Lending
4. Earn daily interest and get your capital back after so many days
BitClub Mining Opportunity: CLICK HERE
Please see the company house paperwork which highlights Bitconnect.
The unfortunate problem with this is that new people who have joined in the Crypto wave will be no doubt put off what this does eventually get shut down.