BitConnect? Invest or Not Invest…Scam or Not a Scam?
I’ve done quite a bit of homework and observation on this topic because people can’t believe that this is real…and it surely is a Scam, Ponzi, and/or Pyramid Scheme…right?
What makes it seem scammy? The way they advertise their gains “guaranteed”…definitely a red flag. OK…Their “Trade Bot” – Who’s seen it? OK…Referral system = “Pyramid Scheme” right?! So ok, we have at least several things which can make folks skeptical about BitConnect. However, they are not considering the new technology that’s part of the overall picture here!
Why is this NOT a scam? It’s based on the BitConnect Coin Blockchain (At post time it’s about $200 USD each coin). BitConnect also has their own exchange (and Trade Bot supposedly, which helps them CONTROL the market). People tend to reinvest most of their earnings to compound interest. Top that with Referral bonuses being reinvested – there is a LOT of money being pumped into the lending platform and exchange. More and more people keep joining the team because people ARE making money (Tons of evidence that at least SO FAR…people have made nice sum of money). Some, YES, due to referrals MORE than interest…but interest alone is still very profitable.
Could they up and leave with your money? Perhaps…The value in BCC would still exist (though could drop a lot of course). This is a risky investment no doubt. DO NOT invest anything you are not willing to lose. However, if you can afford to lose $100…then you can start off small and reinvest all of your earnings to compound it tremendously in the next few years.
I’ve been mining Scrypt coins for a long time, and I had picked up 10.5 BCC. I sold 5 for $1000 USD, and invested 5.3 in a $1010 loan. I’ve been averaging $10 a day so far…though some days have been $3. The interest varies, and you are NOT guaranteed a payout (except your bonus minimum % depending on the tier you are in). Days that Bitcoin value is jumping around a lot will be best…this is supposedly because their trading bot makes more profit on those days.
Ok, so you’re still not sure if this is a scam still…There are quite a few videos out there saying this is a Scam (or similar Ponzi/Pyramid Scheme) on YouTube…They must be right!
Big thing to keep in mind is you are loaning out USD VALUE! The value of BCC and BTC is projected to go up (yes not guaranteed but pretty safe bet IMO!)…so all the locked capital you, and others, put in is gaining value exponentially…as well as BTC. Let’s add in that it SEEMS that many people are reinvesting their earnings… (I have no evidence to prove this, but it seems to be reasonable assumption based on how many BitConnect users are reinvesting for compounding interest – Check CryptoNick out on YouTube for one example). AND that for the next few years more and more people will be joining the platform when they figure out that others are making a ton of money.
Still not convinced? GOOD – You should be skeptical about Crypto investments in general! I waited over a year before I decided to join in on the BitConnect train. Do I want to lose $1010 worth of BCC…Hell no – but I’m willing to take the risk to earn big…HOPEFULLY 😀 Based on what I’ve seen so far – I think BCC has proven themselves enough for me to give it a try.
One of my favorite videos was this guy investing $20k and made nice gains without referrals:
If YOU want to give it a try – please join my team! https://bitconnect.co/?ref=gr33k420