What is Bitconnect Anyway?
Bitconnect hit the market on the 9th February 2016 and has has quickly become one of the most sought after investment opportunities in 2017/2018 and for good reason.
Let me explain...
The way the platform works is BitConnect have their own publicly traded altcoin, which can be bought with Bitcoin. The company have a trading platform whereby they allow users to buy their coin, which is coincidentally called BitConnect coin (BCC).
On this platform you can lend your purchased coins and reap the benefits in the form of daily interest. Daily interest is made possible by a sophisticated trading bot that is programmed to trade against the fluctuations of bitcoin.
And boy does Bitcoin fluctuate. A good thing if you're in Bitconnect!
You are distributed a portion of the daily profits lent to their trading program. Interest fluctuates on a daily basis due to the volatility of the market but the good news is you'll never make a loss from the trading bot. Interest is paid out daily, which admittedly becomes addictive.
Earning Bit Connect can be achieved in a number of ways: stake, lend and trade. You can no longer mine their coin.
Is BitConnect a Scam?
Great question and one I had when I initially joined. Here's the deal, like all opportunities there is a risk involved and this certainly has an element of risk to it. For me, the level of reward completely outweighs the risk.
I've been lucky enough to have withdrawn my initial investment by day 15 from the platform. I've got absolute faith that it will be around for a long time. Currently I've got $14K+ lent out to the volatility bot which earns me interest daily.
To answer the question, my answer is simply no.
The company has been around for over 1 year
Company has paid out consistently
Registered company in the UK
They have held numerous events and conferences
The Bitconnect coin is in the top 20 coins on coinmarketcap.com
Caution: This system is highly addictive
You can be earning interest within your first 24 hours. Each day you hold off joining means daily interest you miss out on.
If you would like to get started please use my sponsor code at signup. rickp4188
What are your thoughts on Texas Securities sending them a Cease and Desist
Wondering the exact same thing
Roy Murphy is a developer for Bitconnect. He covered this topic on his youtube channel and explains why this does not affect the trading platforn in any way. Thanks