Hello steemit friends, this is my post about BitConnect and why it works?

First who do not know BitConnect, I tell that this company offers investment options, has own crypto currency tokens (to that later). But most attractive offer is lending money to them (for trading as they say) for interest accrued daily. Interests depends on capital you invest, but for the simplicity, it about 1% per day. They even return of your investment after some period days, which depends too, on capital you invest.

BitConnect tokens is owned by same company and mostly you can buy or sell them on BitConnect site. In addition you cannot buy anything for them, like goods or services like with BTC or LTC. You just buy them with Bitcoins and sell them for Bitcoins in they site exchange.

So how it works?

The main reason it works so well because, they “pumping” their token value, and paying people interests with their tokens. While people get paid, they trust the company and they invest. So how they pump token value?

They created demand for they tokens, by people want to invest in BitConnect Coin and Stake, meaning people buys tokens and holds for period time, simply put no sell BCC tokens. Second people want invest to they trading bot for daily interests. To do that, you need to buy BCC tokens and then, invest to trade bot (meaning buy and hold again, no sell BCC tokens). So already these reasons make BitConnect tokens supply smaller, than demand and price goes up. People want to earn money, but you can do that, by buying BitConnect tokens at first.

What about withdrawal?

It's even better part 😎 They lets you withdraw and take profits, because the trust is the main reason why it works. No one invest if they are not trusty company. So you bought BCC tokens (lets say 10 BCC), lended that tokens for bot (meaning locket for 300 days - no sell) you getting profit average 1% and they pay you(100 days they can even not trade, just give back your invested money). They happy(they get your BTC) and you happy with daily interests.

Locked period time finishes and by that time they token value rise double in price, when you first bought them. Then they releases your invested capital or profit. You get your money maybe in 5 BitConnet “pumped” tokens, so you return less tokens to exchange for money you invested. You are exchanging them to BTC and are happy with profit, they happy too(made happy client, which invite or invest more). You earned money and want reinvest, so you buy again BCC tokens and holding them for additional 300days 😊

They even did not needed trade with bot (just could hold BTC for 300 days, because long term trend is very bullish) Demand for BitConnect tokens rises and you getting paid with same tokens. Or could really trade and make profit, it is possible, but for example, I choose this idea :)

My strategy?

It is possible make good money, but with some risk. Decided half of money I want to risk lend to trading bot, and other half of money just keep BitConnect tokens and see results after a month(price will be higher and my coins not locked, perhaps sell then, and be in Break even with invested tokens to trading bot)

Thanks for reading, apologies for my English, it's not my native language 😊

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steemcleaners (83) 7 years ago

While it may not be a scam in your opinion, it could be considered spam. Spam is not appreciated by the community and could be flagged or may result in action from the cheetah bot..

Some things that can be considered spam: